The Value of Social Media

A blog I read often, Social Media Explorer because I like how Jason Falls spells out the facts and gets down to business – there is no fluff. Recently, Jason posted on what social media can do for your business and with 2010 upon us an Alicia’s timely post on Social Media for 2010 it seems fitting to review the findings of what is brought to light from the Business.com’s report on social media success metrics.

The report in essence shows five key things that all companies and business online or offline should seek:

1. Increase web site traffic.
2. Engagement with prospects.
3. Brand Awareness.
4. Engagement with customers.
5. Revenue.

I always ask clients what they hope to gain when they dive into the social media pool and desire a blog, Facebook fan page, Twitter profile and friends, a social book marking profile, etc. and there has yet to be one client that does not list one, if not all of the five key findings. Social media for me as a business owner, for example, has proved to be of value for finding new readers, new revenue streams, new clients, increased web traffic which boosts my advertising sales, created a brand for Green and Clean Mom and essentially put me where I am today.

Social Media Value

Social media has helped to increase my online portfolio and generate monetary value in others ways that you might not think of as building monetary gain and as highlighted in Blogging Tips has listed as non-monetary but I disagree. When I have a support system, a strong online portfolio, my craft and skills are being perfected online and with documentation and I’ve helped other people online; whether I intend it or not I’ve increased my means to make dollars online. Monetary value can help a person have monetary gain and this is exactly why social media has substantial value.

A good example would be someone tweeting that they need help with something technical or simple like a Twitter feed or installing a WordPress plugin. Perhaps, I’m a technical person and I need practice or want to just be nice and help this Twitter pal out. I DM them, help them with their problem and I’ve further developed my technical skills and helped someone out. A month down the road I learn this person is a consultant working with others and needs some more help but this time it is paid help – they were impressed with my skills previously and liked my generosity and kindness. I now have someone to add to my portfolio for a testimonial and I’ve created a revenue stream.

It goes to say, this happens online all of the time with social media where one thing leads to another because of the connections people make online. Kim Woodbridge, our technical consultant or Designs by Shauna are two perfect examples of this and why I believe that even if you’re not seeking monetary gains from social media there is monetary value.

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