Stake Your Claim In The Social Media Gold Rush

Are you ready for the New Gold Rush?

The Social Media chatter has been out there, quietly building, but it’s becoming a roar and getting louder every day.  Unless you’ve recently been off of the planet, Twitter, Facebook, and LinkedIn, are likely in your stream of consciousness.  You’ve probably seen it mentioned on the news, and possibly have even attended a workshop on Social Media, but still you wonder, “What’s the big deal”?

The big deal is that 75% of internet users in 2008 were involved in some aspect of Social Networking.

Social Media

Facebook, Twitter and LinkedIn are considered the “Big Three” of Social Networking, with MySpace, Ryze and Friendfeed coming a close second.

Facebook was launched in February 2004, and was originally considered to be the domain of High School and University students.   According to Wikipedia, Facebook is considered the leading social networking site, and has now become prime real estate for businesses.  Businesses are creating Facebook pages in order to build effective bridges to prospective clients, consumers and Joint Venture partnerships. 

Coca-Cola, BMW and IKEA are just a few well known brands that have created fan pages, with Coca-Cola having over 3.5 million fans.  Barack Obama has the largest fan page on Facebook, with over 6 million fans.

So, what’s the point of having all of those fans, you might ask?  Well, with a few clicks, Facebook allows the administrator of the Business Page to send updates to all fans of their site, instantly, with premium exposure on their pages.  What other form of advertising can put your message directly in front of your target audience for free?

Perhaps you’re a non-profit organization, wondering how Social Media can help you.  According to the Society for New Communications, Non-Profit organizations are leading the way in Social Media.  With shrinking budgets and a list of donors who prefer to donate online, nonprofit organizations are adopting Social Media to build and increase in the awareness of their charities and to build their donor lists.  Dr. Nora Ganim Barnes, Ph.D., Senior Fellow and Research Chair of the Society for New Communications Research says “These organizations are demonstrating an acute, and still growing, awareness of the importance of Web 2.0 strategies in meeting their objectives. They have found a new and exciting way to win the hearts – and maybe even the dollars – of potential donors.”

Still wondering what Social Media can do for your business?

Facebook, Twitter and LinkedIn rank in the top 5 in Google searches, so being active in these Social Networks can an effective tool for Search Engine Optimization and link building.

Nielsen Online shows that Social networks and blogs are now the 4th most popular online activity ahead of personal email.  Member communities are visited by 67% of the global online population, and time spent is growing at 3 times the overall internet rate, accounting for almost 10% of all internet time.

As with any other form of advertising and networking, Social Media must be done correctly to be effective.  You need a clear and effective strategy, or you are doomed to failure.  Your Social Media Strategy needs to be closely connected to your company’s marketing game plan and overall business objectives.  Is your primary objective to build your brand and authority?  Do you want to increase your influence within your target community?  Or do you want to promote your products and services?

Whatever your reason for joining the Social Media Gold Rush; remember that without a clear purpose, your Social Media Strategy will falter.

Planning without action is futile, action without planning is fatal.