How Can I Cash In On Social Media?

The big marketing buzz word this year is social media. Unless you've been living under a very large and cavernous rock, you've probably heard about the benefits of connecting with your customers via sites like Twitter, Facebook, and LinkedIn, to name a few. And you've also probably thought to yourself, "How can I use social media to boost sales?... How can I cash in on this piece of the pie?"

The short answer is that you can't. Yet. That's because social media isn't about selling as much as it is about listening and customer service. It turns out that when given the choice between being blatantly advertised to and having their voices heard, most consumers would choose the latter. Who knew!

The fact is, most customers just want to know that someone is listening to them, that they aren't just a number on an invoice, and to be treated like (gasp!) human beings. The amazing part is that it has taken marketers this long to realize that if you treat your customers with respect, make good on your promises, acknowledge your shortcomings, and take an interest in their lives outside of the scope of a cash register, you can build a loyal, educated, and happy customer base.

It's something that tends to get swept under the rug in an age ruled by analytics, demographics, circulation rates, and other nameless, faceless numbers. Because social media isn't as quantifiable as other channels, there's a lot of skepticism as to what the actual benefits are for marketers, especially from traditional media outlets.

The real money that you can take to the bank is customer loyalty and a healthy brand image. Before you embark on a social media campaign, ask yourself if you're doing it because you want to increase sales in the short term, or if you want to actually engage with your customers and colleagues. If it really is the latter, then the sales will come.