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Learn How Social Media for Business Works

March 1, 2010 By Randy Schrum View Comments

Learning how Social Media for Business works is really like re-awakening to the practicality of personal and business relationships and the actions that foster those authentic relationships.

You already know how to engage, you do it everyday outside of being online. So why should it be vastly different? It shouldn’t, the only things you need to catch up on may only be the every changing fast social platforms and applications available for your business.

When we talk about engagement in Social Media, the same rules that apply in a in person networking setting or sales call still apply. Such as you can’t be pushy, you don’t just come right out and do a two minute commercial, instead you get to know the prospect. You engage and learn about their needs and desires in order to eventually sell them something.

The parts we really struggle with are technology, measuring results, time, and just simply what works?

I have two resources this week that can help you learn Social Media for your business:

Social Media Advisors Group on LinkedIn:
This group has seen significant growth. This group has both experience Social Media users and newcomers creating a great environment to learn. You will find great discussions and the ability to ask your most pressing questions. You can join with the group here.

Next, I have written a short guide on How Your Business Can Profit from Social Media. It’s a very practical guide made up of only 17 pages. You can grab it here.

If you have any resources or tips you would like to mention, please do so.

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Social Media for Business is Crap

February 13, 2010 By Randy Schrum View Comments

0955167 Social Media for Business is CrapPost by  Guest  Contributor~ Nathan Kievman
CEO, DemingHill
Founder, Linked Strategies (#1 LinkedIn Strategies Group)

In my many conversations on LinkedIn, I recently came across a group post within eMarketing Associations Group on LinkedIn titled “Social Media for Business is Crap.” Amazing post with nearly 3,000 comments at the time of this post.

So this question alluded to ROI directly. This business person and many others haven’t been able to find real world results. So the cry out was for real life results. Here is my response:

Our company, DemingHill, services corporations with their social media needs and we see ROI consistently. I will share some examples below. However, I believe this question is a bit presumptuous, though well done for the mass interaction it’s caused. When you say “Social Media for Business is Crap” I can only assume you mean ROI. If so, I believe the question misses the real potential of social media.

Our largest Fortune clients only care about the ROI as a second or third area of importance (if that high). You see, the most important aspect of social media is relationship building. The number one most important thing to our clients has been building communities of key constituents. This process is not as easy as the market makes it out to be and requires real strategy blended together with an intrinsic knowledge of the social verticals rules & etiquette. ROI is important, but so is customer service, brand monitoring, brand awareness, intellectual property, trademarks, crisis management and many other categories.

Where most Marketers steal the thunder of social media is pushing this ROI issue. No doubt it matters, I definitely focus on it, but the real fact of the matter is, if you are not converting outside of social media, social media will not help you convert and improve your ROI. Social Media will bring people (at times in masses) to your virtual doorstep. Sometimes they can be more ready to buy over others depending on how they came to your virtual doorstep, but that comes down to strategy, positioning, and influence.

So regarding ROI:
First what is the measurement for success? Like I said before, is it community members of key constituents or dollars in your pocket from sales?

ROI on Social Media is almost always indirect in my opinion. We have ran many campaigns to know this to be true. Here are some successful ROI examples I can share to hopefully shatter your notion that “Social Media for Business is Crap.” I believe and know Social Media is the evolution of human behaviour, and when human behavior changes, so must BUSINESS. Here are some concrete examples of successful ROI driven results:

~ One of our sales guys at DemingHIll (my Corporate Social Media Consulting Practice) closed a $7million dollar deal originated from Twitter.

~ A client attracted Walmart, Human Health, and Bank of America as consulting clients through LinkedIn

~ Small client set up and established $27,000 in revenue on 7 hours of invested time

~ Consulting firm grew a group from 0 to 8,500 members in 11days

~ Client with product and training program has generated directly from LinkedIn over $250,000 in revenue from his efforts on this site

~ Business Services firm generated $150,000 in revenue from webinar series launched through social media platforms only (by the way, that was in one month)

You get the idea. The ROI question is really about your marketing path and product path outside of the social platforms. Those paths can be fixed, but need to take into consideration the original source of the incoming traffic and what motivates them to buy or take a specific action.

Grab our complimentary eBook: How Your Company Can Begin to Profit Using Social Media

Filed Under: Media, Sales, Social Media Tagged With: , , , ,

Name one way how my company benefit from Social Media?

January 17, 2010 By Randy Schrum View Comments

For all practical purposes, I will demonstrate one way that companies can benefit using Social Media.

Answer: Through Status Updates

When used correctly you can:

  • Generate Leads
  • Create Brand Advocacy
  • Generate Opt-Ins
  • Create TradeShow Buzz
  • Secure meetings when traveling

Lets just cover the Big Three LinkedIn, Twitter, and Facebook. If your company will spend a small amount of time building a targeted following with each, then the above listed results can happen on a regular basis.

When utilizing status updates you want to create thought provoking and action requiring headlines. Just like you do in your business in front of your customer you can engage in qualifying questions and event announcements that will create the above listed results.

Some things to think about:

Be sure to bring value to your community with a 12:1 Ratio: meaning be sure to post 12 useful updates that require no commitment or acknowledgement to your company in order to post one that will drive results for your company. This creates authenticity with your community. Next, when you do post announcements, events, or qualifying questions be sure to provide links to your site, opt ins, or blog in order to bring your connections to the next step in your sales process.

These are some example updates that can help you get started in creating opportunities for your business:

EXAMPLE 1: “I will be at the ACME convention in February, looking forward to exhibiting, www.acmecompanywebsite…” You will be surprised but this you may have others who reply back letting you know they are attending and want to meet up to discuss opportunities.

EXAMPLE 2: “How do you currently approach your XYZ category?” This question is built around your qualifying questions in your business. Again be ready for responses back that you can potentially turn into opportunities. This is a soft lead generation approach through Social Media that will be widely accepted as it is not aggressive marketing.

EXAMPLE 3: “Join us for a -TOPIC- no cost webinar with live Q & A today at 4pm EST with –LINK-“ this may require putting together a webinar, but when people sign up you secure their contact info to take it to the next step.

Hopefully these three examples get the wheels turning and helps your business take the next step in capitalizing in using Social Media for Business.

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Be sure to grab our:

Fast Start Guide to LinkedIn
Fast Start Guide to Twitter
Register for our next LinkedIn Power Users Webinar with Playback
Five LinkedIn Power User Strategies

Filed Under: Education, Facebook, Linkedin, Sales, Social Media, Twitter Tagged With: , , , ,