December 4, 2010 3 Comments
What is the value of investing in building a great network of people? I think it was Chris Brogan that recently pointed out the distinction between thinking of ROI (which, in my opinion, is a fine metric for a specific tactical business approaches) vs thinking of the overall value of social networking.
One huge value of social networking is that, when you add value to others and build bridges with them, good people will add value back. It’s the boomerang effect.
Sounds nice in theory, right? But here’s the value in practice, just this week:
Example 1: We had an oven that died. While my wife attempted to find a source in the traditional way, I tossed it out on Twitter, which is now my default Help Desk.
Example 2: This week, I confirmed a speaking engagement as a panelist discussing social media for automobile dealers. How did I get approached for this? Peter Shankman (who became an Ironman last week – good going, man!). Peter and I got together a few months back just to chat and get to know one another. He recommended me for this opportunity. Then, in order to help with my preparation, I put out a blog post and linked it on Twitter, asking people for links and resources on social media and automotive dealers. Within a few hours, I had everything I needed via crowdsourcing for a post-event list of resources and case studies.
Example 3: I met this week with someone from a healthcare agency interested in having workshops for social media and project management (two of my sweet spots). I didn’t know these folks from Adam and Eve, but they approached me because someone else in my pharma network passed my name along and recommended me. This is the second time in the past 6 weeks I’ve had an agency approach me this way via a third-party recommendation (thanks, Rich and Jon!)
Example 4: We’re about six weeks into our weekly #LeadershipChat on Twitter, and this past week’s on Passion was wonderfully helpful and lively. How did LeadershipChat come about? Lisa Petrilli reached out to me via social networking this spring, we met at SOBCon Chicago, and have been collaborating since. Also, via networking, Lisa got to know Tom Martin, and together with Lisa Diomede, they put together this week’s CocktailsforCauses event in Chicago.
Now, that actually isn’t everything that happened this week. And I’m not even listing the boomerangs that went out for others, which will bear fruit in their lives and businesses. Or the important, sometimes life-saving things that happen via social networks totally outside of “business value.”
When people obsess over the “ROI of Social Media,” I’m forced to smile somewhat. Who can trace the actual ROI of all the hours and effort that have gone into building an opportunity network? But, is there value? – oh, yes! The boomerangs have only just begun to fly…!
Build your network. Feed your network. Be ready for the boomerang.