Chances are, you are reading this blog because of our social networking efforts. Nice to meet you.
But, does that really matter? I mean, I am passing on information, but is social medial market really worth the time (and money if you hired a consultant or employee)? Check out this Inside Edge article that sheds some light on this question. But while you are reading that, I’d like to look at it from another point of view. I believe immediate ROI(return on investment) is not always the answer. The answer to this question lies in your horizon and, yes, history itself.
First the history. When I was a teenager (mid 1970s, OMG!), the yellow pages were my stepfather’s lifeline to his plumbing business. He would struggle on how much to invest, how big the ad, and which telephone books to appear in? The cash outlay was staggering for a small business. But he had to do it with the hope that some lady, who had sewage leaking from her ceiling, would find his ad, and call him in a panic. His horizon was short because the likelihood that this customer would have another plumbing problem, or find his number again, was remote. If the calls did not come in during the twelve months that he advertised, he lost his investment. During most calls, he or his plumbers could not build a lasting relationship. They just fixed the immediate problem.
Secondly, your horizon. Social networking is different. The whole medium is designed to build relationships. In addition, once you place an article, ad, or so forth in the viral-sphere, it lasts forever. You may be reading this blog on November 2011, one year after I posted it. So, the horizon is stretched beyond your eyesight. The longer the horizon (along with the timeliness of your information), the more likely your ROI will multiply. Combine this with SEO (search engine optimization), and your chances increase dramatically.
Lastly, If you are thinking of using social networking or SEO, keep in mind that you are on the edge of a new fronteir. You will be an industry leader. There are wagon ruts in the desert, but not all of them lead to Santa Monica. Some lead to Donners Pass. This is why you must constantly check your compass, map, and ration your provisions.