Thursday, February 10, 2011

Top 5 reasons why you won't make money using Social Media in 2011

Top 5 reasons why you won’t make money using Social Media in 2011
Some reports say that Facebook is the most visited site in the world.  Personally, I believe it.  Yet, other “credible” sites say that Google still is.  Not that it really matters.  What I’m saying is that both have hundreds of millions of people visiting these sights every single month.  Every single month – hundreds of millions of people! 
The light bulb has gone on for some of you while others have gotten so comfortable blaming the economy for their lack of productivity that until they see a serious uptick in the employment rate, they are going to stay pat and try to ride it out as is. 
Either way, you are not going to make money using Social Media sites and here are the top 5 reasons why:
1.       You don’t get it so you won’t try it
You have heard about how huge Facebook is.  You have heard that Twitter is growing at a phenomenal rate.  You even created a LinkedIn profile for yourself.  But Facebook?  Really?  Every time you log on it’s all about pictures and posts and games and catching up with old friends.  Besides, it’s a personal site.  The last thing your friends want to see is you pitching your business during their leisure time.  So you’ll think you’re being very polite to not mix business with pleasure and you’ll continue to search for that cost-effective method that can get your business in front of tons of people while you chat with your old buddy who now lives in Oregon.

2.         You’ll get lost.
You’ll take a stab at it.  You’re no fool.  Hundreds of Millions of people from the US on Facebook.  You’re on Facebook.  No one knows your business like you so who better to put up posts about your business other than you.  You will start with your current friends and get minimal response.  Then you’ll start sending friend requests to anyone you can.  But then you’ll get a message from Facebook telling you that you better know these people that you’re sending requests to, otherwise they will suspend that function from you for a few days.  You’ll think that’s the first warning so you’ll send out another unsolicited friend request when BAM! Facebook takes away that feature for three days.  So you wait for those people you requested to Confirm you as a friend but they don’t.  Then, with your only true bright idea gone, you’ll get lost in the world of Facebook again. You will pat yourself on the back and come to the conclusion that there still isn’t a way to utilize Facebook or maybe even the internet and grow some crops of Farmville and stay lost.
3.       You’ll realize you can train yourself and then do it yourself.
You believe that there is something to this Facebook thing and you’ll decide to get some training online and do  it yourself.  You’ll go online and find out all these different tricks and methodologies and get all excited.  After all, all the information you need is on the net.  Really.  It is.  You can find how-to’s on just about anything.  However, you’ll have a tough time following just one “discipline” .  What I’m saying is there is a ton of information and the more you study the more paths you’ll see you need to go down.  The truth is this, managing Social Media EFFECTIVELY (so that you can get a ROI) is no easy task.  It’s not just putting up posts form your Facebook Fan Page and Twittering to your 30 followers (friends).  Most people will quit there while others will start a plan and then down the road come across something called SEO or something else and realize that that should have been Step 1!  You’ll realize you can’t train yourself and do it at the same time.  You’ll lose countless hours trying to figure out something that you’ll never figure out.

4.       You’ll go cheap, inexperienced.

You realize that you can’t do it and it’s way too time consuming to try to learn how to do it effectively and still manage your business.  So you will get your teenage son/daughter.  The most popular waiter you know.  A DJ.  Or that guy that’s always with his laptop while at Panera or Starbucks.  You’ll entice them with some chump change and expect them to do wonders for you.  Here’s the deal, just because someone has over 2,000 friends on Facebook, it doesn’t qualify them as a Social Media Marketer.  An intern!  Ya, that’s it.  You’ll get a hip college kid and not pay him any real money and he can magically put you in front of a large audience so you can sell your wares.  Unless this intern is studying some type of online marketing, the chances of you getting any real sales are still very slim.  You’ll go cheap and you’ll get very little.

5.       You’ll pick the wrong agency.

You’ve seen the light and realize that in order to properly leverage the strength of Social Media sites, you’re going to have to hire professionals.  Social Media Sites are popping up online every day.  Don’t hire an agency from how cool their website looks.  There are good ones and there are bad ones, like in just about every other business.  You won’t do your homework, pick the first site that you agree with, you won’t comparison shop, look for testimonials or even check to see if they are a legitimate company and not some guy working from his parents basement.  You were so close…but then you picked the wrong providers and you won’t make money by leveraging the reach of Social Media Sites.

So how do you make money from Social Media Sites? 

You find the right Social Media Management Company.  Here are a few things to look for when shopping around:
·         There are many Social Media or Online Marketing companies.  Find a local one to talk with first.  It will be in-person and you will get more information than through emails or by the telephone.
·         The right agency will give you a free consultation to learn more about YOU and YOUR BUSINESS before just dumping all of their technical information on you.  After all, how can they help you get your ideal customers if they don’t even know who they are?
·         They should customize a solution for your needs and/or your budget. 
·         They will tell you not to expect great leaps in the first couple of months.  It takes a little while for Google and other search engines to identify the (SEO) changes to your website.  You don’t get to 500 Facebook Fans overnight by doing things the right way. 
·         They will stay in contact with you throughout the process.
·         They will keep their word and their timelines.
The absolute truth is this, business is being done via Social Media.  New customers are being found daily via Social Media.  Companies are branding themselves to people that they would have never been able to get in front of via Social Media. 
Why isn’t yours?

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