Social Media Meltdown

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Re: Social Media Meltdown

Post by Terry Upton on Sun Dec 28, 2008 4:07 pm

It doesnt take up much of my time at all. I choose to spend about 1/2 an hour each day on Social networking. I still do all my other advertising for my business, don't get me wrong, this is a long term thing. I don't expect results straight away. But social networking is fun too! Its great to learn and give back to the community.

Re: Social Media Meltdown

Post by Raymond Fong on Sun Dec 28, 2008 3:36 pm

The point of social media is to be well... "social". It's a way to express yourself, to be transparent, and to allow people to relate to you, the real you and not just some static capture page you have up on one of your websites.

In order to understand how to utilize your time on social media websites, you need to understand the concept of cash economy vs. gift economy. This states that you give away lots of quality content (in the form of entertainment, education, and/or enlightenment) during the gift economy and now and then, when you are ready and have primed your fans enough, turn it into cash economy - which is when they give you money in exchange for what you are selling.

Why would they want to buy from you? Because you've given them lots of free cool stuff, because they relate to you, and because they trust you. And this is also why people want to follow you - because they perceive you as having something of value to offer.

I choose to follow only a fraction of those that follow me on Twitter because I only want quality Tweets to come across my Twitter board - whether those may come from friends whom I genuinely care about or from folks whom I am interested in. If you utilize social media properly, you no doubt will build up followers, whether you want them to or not.

You might want to check out Charles Heflin and his SEO 20/20 membership site for more info on how social media is revolutionizing the way we do business.

Raymond Fong

Social Media Meltdown

Post by dremccray on Sun Dec 28, 2008 11:46 am

So what has social networking done for you lately? Survey says the number one answer is:

1. Take up waaaayyyy to much of my time!

While Twitter, Facebook, Myspace and Linkedin lead the brigade, more recruits are popping up each day. It is an exciting genre this social networking concept, however do not lose site of one of the most time tested philosophies in the universe which is:

Time is money. You need to ensure that you understand the opportunity costs associated with social networking. In this case it is your time. So what is your time worth? Each person has to answer that question for themselves and make a determination as to how much time is allocated for social networking.

Its fun and it can become addictive.(my wife says I spend more time with the computer than with her which is not good when it comes time for you know what) It really is psychological warfare based on conditioning we received from childhood. The median is based on being popular like in high school. Everyone wants to be popular so it works and you can use the internet as a cover for any insecurity you may have.

This is why people are “rewarded” with points, status, and followers to make you feel important. The question is how many real conversations (not emails) are leading to real dollars going into your pockets? Most people are not interested in having real conversations they only want to convert you. On Twitter for example they have people you follow and people who follow you. One person has over 68,000 people following him and he is only following 600!

Why would any leader want to follow someone who isn’t interested in following them? The person obviously does not think you have anything of value to add to their lives. If you created your business to make money then how does it translate if you are told not to market your business especially when the connections are cordial at best.

The argument is that you will establish yourself as an expert if you add value and then the money will come rolling in. I believe you become an expert by continuous learning and accomplishments not by how many points you accumulate or followers you have.

This is why I created a specialty online portal like ebay or Amazon (it is not a social community) where you can make money on demand by selling your services, products and promoting your brand- YOU all under one roof. (and you don’t have to spend hours upon hours posting just to get noticed)

In addition to that we PAY you through our affiliate program for referrals EVERY month that your referrals are members. (how many social networking sites do that)

I don’t know about you but I got into business to do LESS work not more (see Tim Ferriss’s book The 4-hour workweek)

So my question is how much money have you made by social networking on these sites?

By the way I am available for real conversations if you have any questions or to see how we can help each other grow and prosper.

Dre McCray