What is the value of social media marketing and social networking to a business? This seems to be a very misunderstood subject, and one which too many companies tend to relate to other marketing efforts or advertising. If you really do not see the enormous value of social media marketing today, then it is likely because you are either going about it wrong or you are not embracing it at all. It is time that we change that for you and help you to see what this social media thing is all about.

Business Social Networking ROI

I hesitate to use the term “business social networking”, because it is an awkward term. So many businesses want to know the value of networking using social media, so this is a term I use for the company hoping to implement a social media plan. This could also apply to the growing number of individuals seeking new employment opportunities using social networking.

First, I want you to understand that much of what you learned about marketing and advertising goes out the window right now. This is not likely what you think it is … it is much more! If you try to measure a return on investment of social networking, it is a lot like putting a ROI on each handshake or each “hello” as you walk through your grocery store. It is not about advertising, and the same metrics cannot be applied. The value of social networking flows down many streams, and it harnesses the value of good public relations, communications, marketing, friendships, and so much more. There is much that simply cannot be measured in a spreadsheet, and thus it will often take a degree of faith, especially if you hire a social media consultant.

Social Media is “Networking” and it is “Social”

The term, social networking really says what it is, but I often find people who continually get it all wrong. Companies seeking to use social media for business purposes often get it wrong by trying to advertise their goods or services. This sets them up for an utter failure, and can often do more harm than good. Business people participating in social networks often find it hard to come out of their shell and actually be social. How do we fix this? Well here are just a few tips about social networking that you should not overlook:

• Always put your first name in your profile! People want to know YOU, and not a username or company name. Some people will still communicate with you, but is it really you?
• These people you meet on social networks don’t bite! Well, maybe a few do, but most will hug you rather than bite you.
• Get to know people. Spend time with them, just as you would with a friend anywhere else.
• Be yourself! I have said it a million times, but I mean it. We will not all get along, but most people will respect the individuality you show.
• Do not tell me about your business and then not remember my name! If you do this at your local Chamber of Commerce function or worse, at a cocktail party, you will look like a buffoon. You are not a buffoon are you?
• Remember that 100 people saying something nice about you to 100 other people is far more valuable than a few business prospects. When you have friends, you will have people who want to be helpful to you. The value of a friendly referral can go a long way!
• Be respectful of others.

Social Networking Takes Dedication

If you cannot make a solid commitment to a social media plan, it is best to not start one at all. The people you will meet are real and you simply cannot make friends only to leave them behind. Just how seriously do I mean this? Let’s examine just a couple of my friends whom I met online and through these social networks I write about.