Social Media Networks: How Businesses Can Leverage Consumer Generated Media Networks

With the launch of social networking sites such as MySpace and Facebook, many business executives were involved in discussions about whether or not social media was just another passing trend, or if this new social media was a marketing tool that they should learn to leverage. As this “new” social media continues to emerge, there is no doubt that social network sites are more then a passing trend.

Though as far as marketing potenial, many businesses have yet to figure out a business process that can leverage its popularity and potential reach. The problem is that no one business process works for evey business or every social network. If upper level management were to devote time to “getting their hands dirty” they would see that each social media network offers a distinct focus on social networking, and that developing a successful business process should first focus on understanding what social networks cater to their specific target market, and then proceed with how to extend their reach into highly targeted social communities.

Social media networks such as Facebook and Myspace offer highly expensive onpage advertising solutions, yet studies have shown that there is less traffic conversions with this form of paid advertising, then campigns that have harnessed the power of social networks to increase word-of-mouth recommendations. As complaints increase about how social networks are unable to monetize their sites, businesses should head the warning.

Paid advertisements , and the old school model of blatent sales and marketing messaging across social networks are not well received by community members. Its not even an issue of reaching the right market, as in many cases they have. Its about communicating the messages to the market in away that breaks through the resistance and sceptisim that is being seen in todays, prosumer generated, mass collaborating content sharing world. When you hear words such as buzz marketing, viral messaging, and word of mouth marketing, what you are witnessing is a evolution of marketing and advertising that focuses on communication, and more specifically two-way communication.

When businesses are considering how to leverage consumer-generated media networks, they need to consider how to build an actual community, and not just an email database, or friends lists to feed advertising messages to. Today's prosumers are seeking conversation, belonging, and a place where their ideas and opinions are heard, they are seeking dialogue, and not one-sided information. So to businesses looking to leverage the reach of social networks, the only solution is to “get your hands dirty,” become a part of a community and learn what it takes to create dialogue with your target market, true conversations that generate interest, create buzz, and build your community reach.