So according to David Nour (Relationship Economics)
Social media is not a fad! It is changing the fundamental manner in which we engage and influence our target market. The more you learn about this evolving technology, the more you realize the power and promise of social media as a platform for mass collaboration – with prospects and customers, employees, and suppliers.
I was reading The Economist December 18th, 2010 (forgive me it was the print edition) and found a little statement that made some sense to me. Investors are now investing in startups that are geared toward social media and social currency.
Social Media companies are like Facebook, Twitter and FourSquare. Social Currency companies are like Groupon, Gilt Groupe (a luxury-goods seller), and Zynga (a social-gaming firm). Companies like Kaneva are combining the two. Chris Brogan and Julien Smith in their Book Trust Agent define a type of social currency as social capital,
….social capital is different than other kinds of capital. When people come together and share a meal, they not only end up fed, they also become tighter as a group. The mere act of gathering means that they will exchange things- stories, favors, and laughs- and will grow richer as a result. It may sound touchy feely, but these things have real value. And we don’t just mean that they keep you warm on a cold winter night, either; we mean they have real value, as in “you can take it to the bank” value. …..Just think of your favorite television cop drama and how often the phrase “you owe me a favor”, is uttered. These things are real.
So what does this mean for you? We see that social media and social currency startups are getting investors and that social capital is real and that there are companies using both to make real HARD COLD CASH. Oh and that this whole thing is not a fad.
SO WHY ARE YOU STILL NOT USING SOCIAL MEDIA?
There are books, webinars and companies out there that are all offering help for both large and small organizations. Marketing companies have even gotten in the mix as well as PR companies. Every one is trying it so why aren’t you?
The world as we know it is changing. Look at Egypt, Jordan, and Tanzania. These are extreme examples or are they. The younger generations are demanding change. Your customers are going to be demanding change (if they aren’t already) in the way you work with them and the way you sell your product or service to them. And what about your employees ( the few you have left)?
There are many blogs and articles discussing this topic but soon the topic will stop being “Why Are you not using Social Media” and start being “Companies that are failing due to the inability of them to change the way they are doing business”.
Moral of the story – It is not too late to start and there are many resources to help you get started. There are some posers out there as well so be careful but if they are talking about social media strategy, social currency or building social capital then they are probably on the right track.
Don’t be the one or one’s left behind in 2011. You know that we may still be here in 2012 so what are you doing to make sure that you remain one of the lucky ones still in business?