Business and Financial News

Social media has always been with us.

Who hasn’t recommended a product to a neighbor, received a tip from a colleague, or asked for a referral from a friend? From grocery store aisles to cocktail party asides, the “social media” we’ve commonly called word-of-mouth or relationship marketing have always been the most trusted form of outreach.

In the last few years, however, a dramatic transformation has taken place in this oldest and most effective form of media. It’s been a cause for celebration for many, confusion for others, and consternation for a few. What it should not be to anyone, however, is surprising. It’s the same transformation that has happened to industry after industry, from computers to cars, televisions to telecommunications.

Social media has gone digital.

As in every other industry, the digital dimension has made an exponential difference in social media. There’s no reason to be confused or intimidated by all the talk about Twitter, Facebook, LinkedIn, and the like. They’re just like every other time-honored form of social media, except they’re online. That makes them accessible from anywhere, anytime. And it makes a huge difference.

Twitter as Cocktail Party

Take Twitter, for example. It’s really no different from a cocktail party (a huge cocktail party, to be sure) and the same rules of engagement apply. Many of your customers are there, and so are many of your prospects. As are journalists who write about your industry, academics who study it, and lots of other interesting people who might serve as good referral sources for you. Oh, your smartest competitors are there, too. They’re working the room.

There’s a lot you can accomplish at this cocktail party. You can get to know your customers better and discuss with them issues they may be having with your product or service. You can meet new prospects, understand their hot buttons, and make plans to follow up with them. You can talk shop with other, noncompetitive companies in your industry, comparing notes and swapping ideas. You can keep an eye on your competition, seeing how they’re trying to sidle up next to your customers. And you can make hundreds or even thousands of other connections, honing your expertise and expanding your network of trusted contacts. You might even have some fun.

Ultimately, you can sell things—not at the party per se (that would be tacky), but in the natural course of things as you develop relationships with the people you meet. All of this awaits you in the digital social media world. But only if you’re there.

Why wouldn’t you be? Lots of reasons. It’s too big. It’s intimidating. You don’t have time for it. You’re not a people person. You don’t know where to begin. You can’t justify wasting time working your way through a sea of humanity looking for buried treasure (after all, you have a business to run). You don’t need one more thing on your plate.

All of those reasons may be legitimate, but they don’t hold water.

Convenient Networking

In the “analog” world, networking events take place on a fixed date at a single location at which there are a limited number of people for a defined period of time. They require a great deal of commitment, and you have to work around their schedule. But the digital world is different. It’s abuzz 24/7, so your calendar isn’t an issue—you can drop in whenever it’s most convenient and spend as much or as little time there as you care to.

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