April 5, 2012 2 Comments
When you start talking about social media in the business world, you quickly begin to bump into the ROI question (and if you do, get the insight you’ll need from Olivier Blanchard and buy his book, Social Media ROI).
ROI matters. But for many individuals, consultants, entrepreneurs, small businesses – and yes, even larger businesses – that’s not the only measure of value. There’s another factor to weigh in the balance.
Is this activity likely to produce new opportunities? Potential referrals? Broader awareness? Open doors?
Much of what I – and many others – do via social networking is driven by this long-term view, which is based, not on immediate hard returns of dollars-tied-to-specific-efforts, but by what we might call natural human and marketing principles.
Building deeper human bonds with quality people will, in ways both direct and indirect, lead to increased business opportunities. Do you believe this? I do. And I think it’s true for the solopreneur as well as the biggest brand. That means networking – whether the digital/social variety, or good old-fashioned pressing the flesh (note: I believe in both, together).
An example from my own experience: #LeadershipChat on Twitter. Very little direct revenue has come to the co-hosts (Lisa Petrilli and me) for all the time and effort we’ve put in. HOWEVER – the expansion of our networks, the quality contacts with some very influential people, the collaborations that have occurred, not only for us, but among others in the community – these are worthwhile returns, and the future opportunities yet to come as a result of this initiative will, I’m quite convinced, impact business on multiple levels.
I will trade immediate resources of time and effort for open doors tomorrow and next year. Not only for me, but for others.
Speaking of LeadershipChat, this coming Tuesday (April 10), we’ll welcome John Jantsch, Mr. Duct Tape Marketing himself, talking about referrals and small-business marketing in a networked world. Join us for some new thinking, new network contacts – and, who knows?, maybe some new open doors!
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