Dog Days of Social Media… I Don’t Think So!

In his recent must-read post, “The Dog Days of Social Media,” Drew Neisser reminds us that just because Facebook has lost some fans, and Forrester “recommends a cautious approach to Foursquare,” we shouldn’t panic and jump off the social media ship.

I agree wholeheartedly with Drew and appreciate his addressing such a timely topic. “Dog Days,” my ass! We are only scratching the surface here of social media potential! And even if your audience does abandon a platform “en masse”… so what? Scalable social platforms are not going away, migrations will happen — they always do eventually — but if it is not Facebook or Twitter it will be somewhere else you can still reach out, engage your audience, and interact with them.

So we need to keep in mind that, going forward, long-term brand success will not be dependent on a specific social media tool; it will be relative to the depth and breadth of the relationships built using the tool. Building relationships and interacting with consumers is where the commerce of the future is heading. Yes, real relationships = brand interest & loyalty = success (money). In fact, at OpenSky, we believe so strongly in the power of relationships as commerce that we have built an entire platform and business model around it.

Remember, though, that social media is a facilitator of relationships, but it is not the relationship itself. Use whatever combination of ways to interact works best for you and your brand. In other words, experiment! Use Facebook, Twitter, blog posts, and YouTube (don’t forget YouTube!), and use them each in several different ways. Notice what tactics engage your audience so much that they interact not only with you/your brand but with other people loyal to your brand. That’s where the magic happens!

Once you find what works for your audience, drive a truck through that opening. It’s not enough to drive that truck through and keep on going. You need to park that truck, and get out to interact with your audience. “Listen” to your market and you will be able to relate to and engage your customers, evolving with them as they evolve and change. Remember… relationships are never static, so your brand must be able to move along with the relationship or be left behind.

Bottom line: the more responsive you are to your audience, the more responsive they will be to you. Don’t wait for them to make the first move.

Ted Rubin

The “Relationship” in “Relationship Commerce”

We’re hearing (and doing) more and more about “Relationship Commerce” these days — but what does that really mean? Does having 2,000 Facebook “friends” or “fans” mean you have 2000 relationships? Or 28,000 Twitter “followers” mean 28,000 relationships?

It depends. Any one of us obviously does not have time to keep up thousands of face-to-face relationships at a time, but with the help of social media, we can certainly build and keep substantially more relationships going. However, it takes more than simply sending a Facebook friend request or clicking the “follow” button on another Twitter user’s profile.

To build relationships online, you (brand or individual) have to offer something in return, such as valuable information, personal introductions to your already-established connections, or even part of yourself through engagement and interaction.

It’s no longer enough to just suggest that someone should be interested in your product or service. You need to engage your market — ask questions, propose ideas, or simply communicate through social media in a way that gives your followers a chance and a reason to respond.

Then when they respond, interact with them to solidify the relationship, or it will just fade out. Directly acknowledge their response, ask follow-up questions, and share their insights with others. Don’t simply be responsive, be incredibly responsive. Always acknowledge those who reach out or spread your ideas. Follow me on Twitter (@tedrubin) and you will see what I mean. Bottom line: the more responsive you are to your audience, the more responsive they will be to you.

Online relationships will not survive without trust. The key to building trust is simple, but not always easy: Always be good to your word (true to your brand), always be authentic, and always be genuine. Remember, most of your social media interactions are public and very much interconnected – let a positive, trustworthy reputation be the only thing out there to spread!

One final point in this post – although Facebook and Twitter are fantastic tools for meeting and engaging with your audience, don’t forget that you can use them in combination with other relationship-building tools. Email, phone, and in-person meetings are all essential tools for bringing the virtual world closer to your “real world.” Use whatever combination works best for you, and you will quickly turn your connections into raving fans and outspoken advocates!

As you can see, Relationship Commerce is not just about financial exchange; it’s about interpersonal exchange, aka the “relationship.”

Ted Rubin