May
29
2010
Social Media and business, can they co-exist?
Author: Inside Stuart's head...Are we at a major crossroads in business marketing?
I think we are at a critical junction in marketing, especially those focused on the online space and developing platforms. Given all the challenges facing popular online networking services in the past week and the average Joe’s potential loss of trust towards online services, will it slow down the rapid advance that we have seen lately in the entire social media space?
Social Media is business can go one of two ways, it will either skyrocket or cave in. The next few months will be crucial in determining the direction the social side of online marketing goes.
It does all begin with Trust
There are similarities between social media and the Eyjafjallajökull volcano in Iceland. Eyjafjallajökull spewed ash for week and disrupted airspace over the North Atlantic and Europe. Social Media is not so different. There are many “Human Volcanos” spewing disruptive ash of their own and causing people to shut down or divert to other avenues. When you combine this with the recent privacy issues, does social media marketing have the potential of moving in the same direction as traditional marketing?
How will social media and business co-exist? This is something I spend most waking work moments striving to figure out and achieve here in the Canadian market. Today, I am blessed to be speaking about “Trust Marketing” at the Alberta Association of Library Technicians 36th Annual Conference. Trust Marketing is all about positioning yourself as a trusted business advisor who at least practices the 5 principles shared by Bob Burg and John David Mann in the Go Giver parable.
Trust Marketing is all about delivering value within your target marketing and community without being concerned if you are going to loss the deal or someone is going to steal your thoughts. Here is a secret folks, all the knowledge you have is simply a Google search away, so we need to get over the fact that we know it all. It is ok to give away knowledge to those seeking what you know, this is where the “law of value” kicks in. You can read the 5 laws here. What you will find is the more you give away in value and the better you serve folks in your business community, the higher your income will eventually be.
We all must be extremely open to sharing and this is the only way in my opinion social media marketing and business will work together. Business owners need to share and share often. I have always been open to sharing information even with my so-called competitors (often beaten up by my co-workers as well about this) in the marketplace and especially with those looking to do business with us. I think it is critical in the “feeling out phase” to be completely open and not hide a single thing. Clients and prospects are not dumb, they know when you are holding back the goods and they appreciate it when you are open and serve them.
If your website, social media activities and online market are about sharing information, teaching people and offering insight you will be fine in the online world.
Can social media and business co-exist? What will it take for trust to shine through online? What information do you trust more? As a business owner, can you leverage “Trust Marketing”?
