Part V: The truth about networking your way to business success
A social networking marketing plan is not a tradition marketing plan:For social networking to functions as a professional marketing too, one has to first have a plan, target audience, and ways to meet their need, the content of the site, the best way to increase sales without over selling and learn way to convert customers.
The right kind of “socializing” can lead to big profits:Business purpose the best social networking is the one with the highest number of viewer who can see your product or service. When using social networking as a business tool managers need to focus on low key relationship building approached. You also need to know that not all the people will have good comments on your products or your business at larger some people are jealous or they may only be negative all the time. As a manager you need to understand and be ready to deal with these kinds of challenges. They are also important because they can help you to improve in your business by assuming the corrections.
Reaching key decision makers requires trust:Like any other businesses, trust is the most important in social networking, especially that the this reaches the highest number of people, and more so these people have never see you nor your company, the best way to is to tell them the truth and what you put online should be truth. Remember this kind of trust is very important if customers find anything contradiction on the website, the truth is lost easily and often the hardest thing is to bring back the lost truth. Your contact should be true and functioning just in case a customer’s calling or e-mail then she should be provide with a respond.
Part VI: The truth about launching a product or services through social networking
The $ 2.2 billion tip: advertising where the crowds gather pays off: Advisements in social networking is growing very fast and most successful, because using it can now reach people regardless of gender age or race or geographical region. Most the social networking has ads sites where they held ads. For Example, in YouTube it is found in (www.youtube.com/advertise) which offers various ways of ads by age, gender, Location, and the time of the days that the ads need to occur. For LinkedIn (www.LinkedIn.com/static?key=advertising_info) it provides information such as the target audience also demographics. In Facebook (www.facebook.com/ads). In facebook beacon feature enable businesses to grant power to customers to share their purchase online.
If you don’t “get” social networking, your campaign won’t work:Social networking became only profitable if you understand what makes social network in terms of human interaction and motivation. The three ways to do marketing in the social networks include 1) personalizing your customers experience, knowing the like and dislike of your customers is very important. Engage in sharing of ideas among the customers and allowing them to post their comments. Responding to their questions will also help them to fell they are valued and continues to visit the site and buy your products. 2) plan for the worst, by allowing the customers and the users to share what comments some of their comment will be negative and you should always be ready to deal with them by planned 3) Inspire evangelism. Inspiring your customers to spread the news about your products, service and how you value them to their fans, friend and families for free will probably increase your sales revenues.
Marketing to the MySpace generation is different: Generation Y represent the audience who buy the most. However, it has been know that today all ages of people are in MySpace hence focusing only in specify group may leads a lot of lose in sales. However, young adults still form the highest percentage because they are technology drive, they are also multimedia that is they are found in many social networking.
Making them hungry makes them buy:What is appealing with likely make customers buy it, hence social networking building of the sites and profiles are the most important to focus in Marketing on these sites.
Viral videos are for business not just fun: Savvy Marketers are making millions from the social viral You Tube campaigns. For example southwest airline are known to stimulate their marketing campaigns in You Tube. Creativity is video in Video marketers and producers are encouraged to think beyond the box.
Part VII: The truth about corporate social networking
Corporate social networking has arrived: Due to the emergence of the 2.0 technology managers are now require to have the knowledge of the Web by, enhancing employee communication and retention and increasing business development. Corporate social networking reaches all the stockholders including the customers. There are some social networking which employee are encouraged to sign up and share and built relationship with others employee. Theses can also help to raise their voices.
You need to embrace the virtual water cooler: It is assumed that social network has become a water cooler, for example it is where you can learn much about what is going on in your friend from their conversation with others and also what they post in their wall.
You can get something for nothing: free, open-source social networks:
Part VIII: The truth about social networking for social causes
Social networking is changing the world of online fundraising: In today world it is very easy to raise large sum of money through the internet. For example if someone wants to raise money he/she can just forward the message to his/ her friend and the message is convey. Social network is very useful because it can reach many of your friend and they can in turn sent you the money or deposit in your account
Networking for good makes good sense:Since many of the social networking is worldwide, sending any awareness can be much easier. Many charities organization use the social networks for example Our planet (www.myspace.com/ourplanet) they are dedicated to stopping global warming. Friend of the Earth(www.youtube.com/friendsoftheearth) and Save the children at (www.savechildren.org) are all social networks for charities organization
Get social, get elected;political also are joining social networking to do their campaigning because it can reach many people. Politician use the social network in election in a Unite States and other parts of the world. MTV and MySpace are often used by for presidential debates.
Part IX: The truth about social networking success
Online networking is still networking:The basic principle of social networking behind connecting people was established many years ago. Physical networking was the main source where people gather for lunch or a social place and held some discussion. Today this has been reinforced with the online social networking; also the most important is to be active for the social networking to be of beneficial by participating in discussions boards, answering questions and others
Quality counts: more isn’t always merrier: In social networking quality count on the quantity. There are many networking and more are emerging every day, signing up in every social networking will not be of beneficial to you. Choose one to two social networking that suit your needs and nurturing them is the most important. A social networking with the largest number of people will not be useful if it does not serve your needs. To make the best out of social networking one to1) Focus on strategic Objectives by avoid that they should be present in every social network. 2)Have schedule on when you are available online 3) Be realist spend few and useful hours will be useful that wasting time surfing online.4)Get help for example if a manager does not have enough time to build their social networking then can outsource.
Online branding: your profile is how the world sees you: Online image is everything to individual or a company; many people who encounter online have not made and do not have an opportunity to meet. What they find online like in the website, blog or social networking is all what they will assume of the company and individual. Focusing on what is put online about you is the key note that this is what people will evaluate you of. Having a visual image of you in the profile creates more trust to the users, they want to know who they are chatting or working with.
Learning from the masters can make you a master social networker: Winning in social networking is being with the right balance of technical knowhow, market savvy, networking mastering and street smarts. If the social network is not generating the desire results of your goals then you may turn to learn from what others success managers are using online. Take time and learn from their creation of profile to details on their website. If this is not useful then hire a consultant who will dedicate time and produce the desire results.
Six degrees of separation is more than just the name of a motive:Today social networking is rooted to the concept of six degree of separation theory by reaching the words of academia, entertainment and nonprofit. This has encouraged others to invest on the same concept online. If used wisely social networking is the link to the rest of the world.
Social networking doesn’t happen in a vacuum:Anybody they you found online need to be treating with respect. The person you meet online can be an alternative goal to in meeting your success.
Part X: The truth about making connections that counts
Connect and reconnect: develop a network that works for you: In many ways developing a social networking is much easier that in person network, the first step after signing on social networking is to connect and reconnect. If your focus is to establish publicity online then 1) Focus on your presence on the site 2)start with likeminded people 3) see who has befriended your competitors 4) be selective 5) Be patient be strategy when connecting to people or business and corporations.
You can never have too many friends… or can you? :Viewing a requested profile before accepting is the most important. Not everyone who sent the request or is available online have the same goal as you do. Accepting any request may damage the reputation of your business or individual. Remember that other may be hackers or spam.
You can connect with the rich and famous:Social networking has opened a great opportunity for everyone. You can now chat with a celebrity or without the social networking could have been impossible to grabs your hand. This can reinforce your professional because you will have to have a good and reputable profile to attract this people.
You’ve got mail… but you shouldn’t always answer it: Being selective in responding in social networking lead to creating a good quality of your social networking and make a difference to the way people and the world see you. You don’t need to respond to all request there is a time to say no and a time to say yes to a request. People see you in what you connect with and probably can read your mind from the minds of your friends.
Part XI: The truth about social networking privacy and safety
Social networking makes your past an open book: If there are any dirt or what other has said about your, what if feel quilt of online then it is time to clean up and start a professional way with a clean name online. This becomes an issue especially during a job search and professional activities. The best way is to create alert service that will send an alarm to you whenever your name pops online or when your name is put on the internet, this will help you to trace and find what is being written and correct at early stage.
You never know who is reading your profile:You never know who reads what is in your profile and when they can read it, to be save always put what anyone can see without shying off or embarrassment. For example can your parents see your pictures, what about your boss, do they have good or bad reputation of you.
Knowledge is the key to safeguarding your privacy online: remember that once you put something online the world can see. Your privacy is very important; do not put private items available online. For example phone numbers, address or even your status. Does what you put online can lead someone to track your ways or read your mine. You can also choose what do add in creating your profile. This means that if s
Part XII: The truth about the future of social networking
Social networking will expand exponentially in the next decade: It is true that there are hundred of social network in the internet, but everyday new social networking are emerging. Patrice said that the social networking is predicted to focus on specially niche because more often people with the same kind of thinking spend time together, so they in the future they are predicted to built their own niche sites. These kind of small niches are expected to dominant in the future. Social networkings are also expected to increase the advertising budget. Many people are now spending much of their time in the internet the sniff from the traditional advertising to modern internet advertising mainly to social networking because that is where many people spend most of their time that in other places. However, there has also been the increase in the sharing of ideas be among social networking and others sites like the Amazon.com, E bay, twitter, and You tube among others. In these sites one can share what she/ he found useful with others in other social networking like the Facebook which is really important sharing. The future impact of the social networking is expected to increase expontially due to increase in revenue from the from the social networking.
Social networking is going mobile. Mobile phone is becoming more useful than ever, Patrice claimed that the society now wants the freedom that the mobile lifestyles bring with it. Facebook has now provided alternative version in mobile phones that enable the user to upload phones directly to Facebook. Friend finders like Dodgeball helps users to connect with friends within a given radius. Loopt which is also a feature in social network sends alert to the user when friend is in a given location, it can also share your favorite place places that you like to visits or the once that your friends like to visits, or recommend on the place that your friends visits. Mobile phones are also going global. Patrice gives an example of Copenhagen which uses Bluetooth to sense when strangers and friends are nearby. It can also sense when another friend in LinkedIn is around you and enable individual to set
Conference and other events using the mobile phones.
Not all social networking occurs on social networking sites: Facebook and MySpace is now becoming the traditional social network as Patrice mention. Many manufacture and retailers are now creating the own social networking which is connected with what they sale for example as a way of a company may create a site like women or men factionist which enable the customers to create a profile, the company can then provide them with discount when they purchase from the website. Companies also enable customers to share them comments on what they purchase from the site. These create not only more customers and increase revenues but also forms a community of social place for people. It is predicted that the future of social networking will enable users to enjoy the benefits without having to own or use a physical computer.
Creating your own social network is easier than you think.It is possible to create a social network without a lot of capital or finance. Patrice gives an example of sites in the internet where you can create your own social networking. Ning at Ning.com enable individual to create their own social networking without a change, however, if an individual need to include ads then Ning will get benefit from ads revenues unless person pays for it. Collective.com also gives individual the opportunity to create a site free but charges premium when ads on the site is provided. There are also steps to follow when deciding and creating individual websites.1) To do a research on what the website look like, what should be include, the goals, the future for example to expand national wide to concrete in a given niche, the users, 2) Understand the cost of the free solutions: Free creating of the website developer comes with a big plus, it is hard to control because they developer will still own the domain hence if you consider to create a website that will grown and you become the owner then it is advisable to pay for it. 3) Your level of technical skills. If an individual does not have technical skills of building and maintain the website then it is advisable to hires someone with the right skill, some companies even do a create job of outsourcing to foreign countries where they have a adequate skill with a cheaper cost.4) Know the business model you want to pursue, for example is it an adverting revenue or the sales of products or just a free social network. These are critical factors in determine your success in the creation of social networking.
You don’t have to follow the trends just because they’re there:The impact web 2.0 technologies is changing most of the things in the social network rapidly and create confusion or misunderstand on what to trend to follow. You need to keep in mind the all function of social networking is about connecting the community, and matching people with a common goals and think alike. To avoid the move or the trend you should always remember your goals, the direction of your industry, technology change and keep up with the announcements that may impact your site or your business. You can also create your own trend which is unique and meet the need of your customers this will help you to avoid the traffic with other. Patrice finished her book by saying that winning network marketing requires out of box thinking that is thinking and seeing beyond others in the same field.
The Video Lounge
The Video talks about ways in which Facebook can be used to attract more customers and bring profit to the business. Since many people are in Facebook target this group of people as your target market.
http://www.youtube.com/watch?v=hjmY5PLjngc
The Video talks about ways to profit from the social networking. It refers more on the future of social networking, the interaction and continues connection with social networking
http://www.youtube.com/watch?v=GXj5dFLbRBo
Personal Insights
Why I think:
With business conditions today, what the author wrote are true because with what the author wrote is very applicable in today business and infact she as even gone further to and it will probably be applicable in business in the near future. As long as the technology changes her words will remain workable. In furthermore, business is now going into e-commerce where most of the transaction will occur in the internet hence the need to learn using internet of benefit will become crucial.
If I were the author of the book, I would have done these three things differently1. If I was the author of The Truth about profiting from social network the first the thing I could have done is to remove sub parts in the book. These subparts are so many and makes the reader bore. I find that there are a lot of information that she has convey using this book which may lead to confusion to the reader. I find the plot of the book is not well structure. Narrowing down the theme in the book and having more deep on few is what I could have done.
Explain in details how businesses benefit from forming social networking. As I was reading the truth about profiting from social networking my main curiosity was to discover how social networking can benefit, how are the money channeled so as to reach the individual who creates and works to improve the sites because most of the social networking sites are free.
Explain how social networking enables a mind sharing of ideas and insight. When interacting with people online, you get a unique perspective into their lives and their problems. You can help and advise them and in turn, you will receive feedback and trust, thus resulting in mind-sharing. Since social networking is human focused, it is a great atmosphere to get feedback, research and insight. Although people do not want to be told, forced, spammed or made to do anything but when you involve them, the entire environment changes.
Reading this book made me think differently about the topic in these ways:
1) The dangers of social networking. Social networking has lots of traps from request who may only want to be your friend with other motive like finding information about you and using them negatively. The dangers of Digital dirt which may haut you back.
2) Finding a job in a hidden market. Building relationship in social networking can be very helpful in finding a job. Friend does not only have to be those who know strangers can become very important friends. Directly or indirectly someone who already chats with you online can be very helpful when finding a job.
3) There are thousand social networking in the internet. To be effective and efficient sight to few will be great since it will lead to spending less time online. Having a good in a social networking is a key to jointing it.
I’ll apply what I’ve learned in this book in my career by:
First having a goal in joining a social networking. I have always taken Face book as a place to chat with friends is not the function of social networking. Joining few social networking, not accepting any invitation without careful examining of the person.
Joining professional social networking. After I read this book I discover more about LinkedIn, I recently joined the social networking. I believe it has more to help me in pursuit my career. I hope to deactivate myself in other networking so that I dedicate enough time in the ones that will benefit me and my career in the future.
Built a relationship with friends in social networking. I have found out that with today’s world building along lasting relationship is the key to enter into jobs and especially hidden jobs. Building along lasting relationships with who we interact with online will bring success, learning, encouragement and growth in life.
What others have said about the book and its author:
Mark A. Kellner wrote in The Washington Time “An essential, enlightening guide to an area rapidly expanding beyond garish MySpace pages into an essential business component. This is a vital reference at just the right time!”
Jason Fall in the blog wrote “Smart business people are using social networking to support their marketing and overall business strategies. But it community norms you’ll find there. Rutledge’s book not only gives smart advice on how to navigate those waters, but does so with examples that are easy to understand and translate for use in your business.”
Guy Kawasaki who is the author of the Art of the Start comment of the author LinkedIn about the book as “The Truth About Profiting from Social Networking is an insightful, useful book that many marketers should keep at their fingertips.” The hits in the book are very useful to the today’s marketers’ field.
Bibliography
Mark A. Kellner, Retrieve on November 6, 2010.
http://www.amazon.com/Truth-Profiting-Social-Networking-ebook/dp/B001BFL9IA
Jason Fall (2008) Retrieve on November 6, 2010
http://www.informit.com/store/product.aspx?isbn=0789737884
Kawasaki G, (2008) retrieve on November 6, 2010
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Contact Info: To contact the author of this “Summary and Review of The Truth about Profiting From Social Networking” please email dorcas. kapkiai@selu.edu.
Biography
David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:
Management Concepts (http://toptenmanagement.blogspot.com/)
Book Reviews (http://wyld-about-books.blogspot.com/) and
Travel and International Foods (http://wyld-about-food.blogspot.com/).
Written by David Wyld
Professor of Management, Southeastern Louisiana University