Making Money with Facebook?

Social media (the latest “techno-buzz term”) simply refers to people having conversations online.  In the far away land known as “Web 1.0” the internet was one-way.   You threw a website online or sent out emails and things were pretty simple.  Customers would check out your website for information, and might call your contact center or send you an email.  Ah, the good old days!

Social media (Facebook, Twitter. . .even YouTube) makes this seem quaint and old fashioned.  In the world of Facebook a short comment is followed by other comments and pretty soon you have a town meeting going on.    The vendor does not control the conversation — in fact no one controls it, not even the person who begins it!     With 500 million users now on Facebook it is larger than the United States of America — and perhaps just as powerful in its own way.

This new phenomena of social media can be a power for good or for evil.    It can help your business, or it can destroy you.   Businesses today must learn to deal with it one way or the other — and to try to find a way to use it as a way to make money.

The first thing to realize is that if you take a used car sales approach to Facebook or its ilk you will fail miserably.  Social media is all about the conversation and nothing turns people off faster than a sales pitch in the middle of a party.     To get fans who “like” you and read what you post you must provide valuable information, hopefully in an interesting way!  Doing this must be consistent — you may well have to hire an employee to manage your social media presence.   My company provides training, consulting and even provides the social media “presence” for companies — but be forewarned that if you outsource to someone like me they still need to learn a lot about your company and stay in close contact with you.    Why?

Because it is all about the conversation — and if there is no meat, no “there” there, you will quickly turn off anyone interested in you — and far from making money, you will soon start losing it to your competitors.

Content is king.  To make money on Facebook, Twitter and the rest you must have content of value and you must provide this in a succinct fashion.  You must post often (2-3 times a day on Twitter, at least daily on Facebook and 3-4 times a week on your corporate blog).   Since this is a conversation, you must encourage “fans” (find them via your email databases and by posting in places your customers visit online).    Respond to comments, good and bad — and do not be defensive.

Remember it is a CONVERSATION.

Some of the keys to success in Social Media are:

  1. Build a large and legitimate following by being informative and interesting;
  2. Respond to comments quickly and with substance
  3. Blog, Tweet and post frequently — but again it must be USEFUL information
  4. Monitor your social media communities — know what is working and what is not working

There are some great tools to help you manage multiple social media efforts, and to analyze how successful they are.  You will most likely not see “over night” results, but over time your base and your sales will increase.

As social media grows (and the largest growth is in women 55-65!), the traditional marketing bases of newspapers, radio and television are losing customers and advertisers.    Social media is a revolution.  There are ways to thrive in the revolution, but it is not by playing the game the way you might have historically with press releases, TV ads and the like.   The new world is all about loss of control and “the conversation.”

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About Sandra Eisenberg

Dynamic pragmatic marketing and sales executive whose biggest asset is converting technology to real corporate value -- for a variety of industries including health care providers (Adventist Health System Sunbelt), Teradata (Data Warehousing), RWD Technologies (quality improvement and professional services), Siemens and AT&T (telecom). Sandra brings twenty years of experience in sales, marketing and IT management. Her career spans entrepreneurial firms (E5 Marketing) and senior positions in sales, sales management (direct and indirect), marketing, channel development and product management at Bell Labs and NCR Teradata. A few career highlights: • Total product lifecycle management (PLM) using ISO 9001 and other quality methodologies. Sunset aging product lines and developed a migration path to a new, open standards platforms at Avaya, NCR and Bell Labs. • 1st woman to win the AT&T and NCR Teradata national sales awards -- top sales manager and sales rep at AT&T, NCR Teradata and Avaya • Delivered profitable marketing campaigns in the area of CRM, Business intelligence, contact centers and other high tech areas • Run call centers, sold call centers and been in product management of call centers (Avaya, AT&T and NCR) • Director of CRM Strategic Planning and Alliances at Avaya and NCR Teradata • Senior Manager of Product Management Bell Labs (business intelligence, data warehousing and CRM) Most recently Sandra managed the Central Florida territory for Siemens' telephony division. Siemens is selling this division soon and their loss can be your gain.

Posted on August 31, 2010, in Blog, contact center, CRM, customer relationship management, Facebook, internet, internet marketing, Marketing, Pragmatic Marketing, SEO, SMM, social media, social media marketing, Twitter, viral marketing, YouTube and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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