Is participation in social media a good investment? How do you know? CEOs, boards of directors, and executives are all asking this question. Erik Qualman, author of Socialnomics: How Social Media Transforms the Way We Live and Do Business, offers proof:
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Fascinating!
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Fascinating video, and there is absolutely no doubt about social media being of huge benefit to companies with tech savvy (and even not so savvy) target audiences. I would like to point out, however, that popularity in social media has nothing or next to nothing to do with Google search engine rankings (it was mentioned on the page after MoonFruit's stats- check the time 2:49 for it). SEO (Search Engine Optimization) and SMO (Social Media Optimization) are not the same thing, though they are complimentary and one can lead to the other.
While new businesses can use social media to gain new eyeballs, the best reason for established companies to get involved is customer loyalty. When a company is quick to respond (well) to my question, comment, or issue via Twitter or FaceBook, I'm much more likely to use them again in the future. It was the deciding factor between two equally priced hotels when I had to go to jury duty, and is the reason I intend to try certain products when I can afford it.
I've also noticed that while I don't usually buy more books from authors I know via social media, I do buy the books much more quickly, and am more apt to buy them new (to support their royalty statements or help them earn out advances) than I am to borrow them or buy used. I also tend to promote socially active authors more often, though that may be because it's easier to promote them.
(BTW, thanks for using CommentLuv- awesome plugin!)
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This is encouraging to me. I know I've found readers thanks to social media. Perhaps the better question is how can you maximize social media without taking too much time on it?
And yet for some reason, this still is not enough for people to see the value or for that matter realize twitter is way more about telling people you are eating food or going to bed.
But what if you’re doing both? Surely that’s worth informing people….right?!?