Social Capital

Social media isn’t about Twitter or Facebook or “sentiment analysis” or any tool or technique. It’s about relationships. Pure and simple. Effective branding and business building is not about selling something anymore: that might be the end result, but to get there, you need to work on the relationship. Social media success is about listening – and then actively engaging based on this knowledge. It’s like a human relationship.

The best way to explain this is to use a hypothetical. Let’s imagine that you have 1,000 followers on Twitter. You can either “monetize” your followers by promoting your product, which may generate results in the short-term, but it will erode loyalty and evangelism over time. It is being penny-wise and pound-foolish. Conversely, you can build “social capital.” You can deliver value; you can care. You can improve the lives of these people who placed their trust in you. You can inspire, entertain and inform. You can spend the necessary time cultivating the relationships.

We are in a “thank you economy.” Build genuine relationships with your fans and followers — and in time, you will build an army of loyal advocates who will promote your business to everyone they know — and eventually come around to purchase your product. Pound-wise.

There are four phases to an effective social media program:

• Introduction. This is the first-contact with your customers. And as they say: first impressions count.
• Engagement. During this phase, it is imperative not to pontificate, but to listen. Social media is a cocktail party, not a keynote address.
• Cultivation. The most important part of the relationship. Everything you do must come from a point of caring about your audience.
• Evangelism. By this point you have built up “social equity.” If you deliver on the first three phases, your followers/fans/etc will likely become lifelong customers.

When it works, it’s magic.

Sadly, too many people — and brands — rush this process. That’s like rushing love. It simply doesn’t work. Care. Be patient. Help others live their best lives. And, you will reap the breathtaking rewards that social media can bring. We do it everyday with our clients — and if the fit is right, we will do it with you.