Businesses are jumping aboard the social media bandwagon left, right and centre. Getting a Twitter account, Facebook page, the odd Youtube channel. Pinterest strategies, Foursquare rewards, etc. It’s really interesting because these are potential long-term investments into their company’s brand. Using social media to promote and market your product, service or organization has been slowly gaining momentum.
What I’m hearing from companies and why they take my training is because they want to learn how to do it right. They don’t want to jump in and look like an idiot, which incidentally is how I learned the hard way four and a half years ago.
Just like Web 2.0 was the new way of using the internet, Social 2.0 is the new way of using social media. Droves of people signed up for Facebook to use for fun and contacting their high school long lost friends. Now it’s how to get in on the conversations and partake. Boring, inane, arbitrary aren’t being heard. More and more people are joining in on conversations and realizing that just like in real life, business happens with those you like and most often, you try your best to choose a business with good customer service (good manners).
It’s a waiting game to see what new social sites will cross the chasm and which ones the big guys will jump on. With Facebook buying up Instagram and Google buying Motorola recently for 12.5 billion, mobile is going to explode especially when you combine the four things above:
But no matter what, the inevitable will happen and in a few months, or even a few weeks (depending on when you’re reading this) Apple will release it’s newest version of one of their tech toys and that will take over the news. Jobs was known for disrupting advertising (Apple was one of the first companies to ever have celebrities in advertising campaigns without paying them).
The revenue models of social networking sites are just in infancy stage. Although Apple has been a disruptor in the personal computer, phone, music and tablet industries and there’s not really one other company in history to do that (that I’m aware of), the amount of money that these social networking sites are being valued at bought up for is astronomical. The amount of privacy that we have given up for these sites to base their revenue models on: astronomical. Think not only about our private, personal info such as age and location but what we like to buy, the brands we love.
Twitter’s recent milestone of doubling their user profiles in the past year to currently 465 million (although a post in their blog this month says 120 million active users), also means their own web 2.0: their advertising model is about to trickle into the critical mass who were late in getting on board… small and medium businesses and this, my friends, is Social 2.0.
Facebook’s advertising revenue model just took a hit with GM dropping their campaign due to lack of consumer impact. Ironically around the exact same time, Twitter launches into their new revenue model for small to medium businesses, for sponsored tweets and conversations with a few successful heavy hitters touting successful social ad campaigns: Porshe, AirBnB, Amerian Red Cross, and Cabury to name a few. Pretty powerful conversations by billion dollar organizations. Airbnb was just valued at $1.3 billion.
It used to be all about what the boomers were going to do next. Now it’s where social is going to start the next conversation and when. The play that your organizations should be considering is listening to how you can be of service to your customers based on their increased willingness to have public conversations about what they love or hate.
Give me a call to discuss ways to get your organizations into Social 2.0.