Social networking for business: What works and what doesn't

Social Media sites like Twitter, Facebook, Linkedin and YouTube are changing the way the world does business. I think this is in response to our desire to connect with others. Relationship Marketing is all about connecting with people first as human beings and then as customers later. For a real business relationship to work, both parties must receive value. If only one or neither does, that relationship won't continue for long.

It is the same with Social Networking. You have to provide value consistently for people to want to follow you (as in Twitter) or be your "friend" (as in Facebook). This value means something that helps them in their business or their personal lives.
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So, what works in Social Media and Social Networking?

What to do in Social Networking -- Provide solid value first

Provide tips that are valuable to your followers. If you talk about a special that is with a third party --- where you have no benefit from your followers purchasing --- you gain points.

Retweet

This means you copy something that was said by one person and send it to your followers. You are helping in three ways here: 1) You help the person who sent the initial tweet and they will remember that, 2) You help your followers by providing value and 3) You help yourself two ways. First you strengthen the relationship with the person you are retweeting (don't you love these new words we come up with today?) and secondly you help yourself as others see you as a resource. Make sure it is value when you retweet otherwise it comes off as TweetSpam and that can only hurt you.

Link with URL shorteners

This sounds a bit technical but it's quite easy. If you have a really long name for a website (URL) it can eat up your 140 character limit fast. A better way is to use one of the free URL shorteners available. Bit.ly is good for generating statistics on how many are coming to the site. Tinyurl and snipurl have been around for years and are quite reliable.

Always points to more value on your blog or Web site

Let your Facebook postings, your tweets and Linkedin messages always point to your Blog or website (they can be the same) where your followers or friends will find more value on the subject. This is the methodology you want to deploy in your marketing today. Generate value on your Blog and point to it with your notices on all the various social networking sites.

What to avoid in Social Networking -- It's all about me

Ugh! How many times do we need to hear that the world doesn't keep spinning around YOU? We all want to hear about ourselves and how what you have to say will make our lives better. Make all your communications about how others will benefit from being involved with you. Frankly, we don't care that you're "standing in line to get a hamburger." What will help is if you found that hamburgers are available at half price today from 12:00 to 3:00 at 4th and Main and they are the best you've ever had. That information would be valuable. Make it about others and you will succeed.

Spam city

We hated spam on email (still do). We don't like it any more in the era of social networking. So stop it already! Yes, we know you have a "great way to make money on Twitter" on your site but frankly, we're tired of hearing it! Instead, promote serious ways people can solve problems in their business. You add to your credibility and avoid being seen as a spammer.

Too much "unfollowing" or "de-friending"

When you stop following someone (and there are times it is appropriate) make sure it is because of serious problems (like spamming --- see above). When we see someone has "unfollowed" us (more of those clever new words we get today), it can hurt. I remember one person who I admired and had purchased a lot of her materials. However, when she unsubscribed to my email I was hurt. Was I logical? Of course not. However, that person has already lost thousands of dollars as I spent the money with someone else --- and she doesn't even know it! Careful on what you do and who it can offend. Hear more about this story in my podcast at www.TerryBrock.com.

Social Networking is really very much like good ole networking has been since human beings started gathering in groups. Treat people with honesty and dignity. Relationship Marketing principles work today on these new media. Avoid the "hot new ways to increase traffic" that smack of hucksterism and chicanery.

If it doesn't come from a genuine, real desire to help other humans beings, it should probably be avoided. This is true in Relationship Marketing, Social Networking and life.

How should my business market itself with Facebook?

How should my business market itself with Facebook?

Facebook is growing by 700,000 new members every day and is the third-most-trafficked site on the Web. Your business should be making the most of this marketing opportunity.

The most important thing to remember is that you’re there to build relationships with customers and prospects. Connecting in an authentic manner means approaching the world of social networking as a person and not necessarily as a brand.

You should actually start with your personal profile — if you’re not already on Facebook, sign up (it’s free), add a photo and a little information about yourself, find some friends on the site and begin to interact. Then, and only then, should you set up a business page with your logo.

After all, you wouldn’t start a sales call with a trial close — you’d get to know your prospects first and give them a chance to know you.

There are some distinct differences between personal profiles and pages. With personal profiles, people must request to become your friend in order to see your information, and you confirm these friendships manually. With pages, however, anyone can become a fan of your business page. Even better, all of their friends will see that they’re a fan and can join them; now you’re leveraging the viral power of the Internet to make new connections.

Content of your page and posts should be of service to the reader. Consider including reviews, tips, helpful hints, related articles you’ve found, relevant discussions, events and photos.

Next steps: Facebook ads may be purchased. These work similarly to Google AdWords.

Response provided by John Addessi, a consultant with the Kansas Small Business Development Center at Johnson County Community College.

Lilly says David Ricks will lead US business

INDIANAPOLIS -- Drugmaker Eli Lilly and Co. said Tuesday that David Ricks, who is now in charge of its Chinese business, will become president of the U.S. division on Nov. 1.

Ricks has worked at Lilly for 13 years, including managing operations in Canada and China, Lilly said. He will take over for Enrique Conterno as president of Lilly USA. Conterno will become head of the company's diabetes business as part of a reorganization announced earlier in September.

Lilly USA will be part of the established-markets business, which will be lead by Bryce Carmine. The established-markets business will focus on developed markets like the U.S., European Union, and Japan, and will handle marketing of heart and neurological drugs, among other products.

Eric Baclet, vice president of marketing over global neuroscience brands, will succeed Ricks to lead Lilly China.

The company is reorganizing into five business units: cancer, diabetes, established markets, emerging markets, and the Elanco animal-health business. The reorganization includes about 5,500 job cuts, or about 14 percent of Eli Lilly ( LLY - news - people )'s work force, by the end of 2011.

$350M-$500M Price Tag For Yahoo Small Business

Yahoo Small Business isn't going to sell for a particularly tiny sum if Yahoo has its way. A fresh report indicates that Yahoo, which has been trying to unload the unit for some time now, would like to receive around $500 million by way of payment.

Yahoo Small Business is, as you probably guessed, a property that caters to small businesses. It deals in things like Web hosting, ecommerce solutions, domain names, and business email. And even if you haven't heard of Yahoo Small Business before, it's not bad, having won an editors' choice award from PC Magazine last year.

The question is whether Yahoo can get a full $500 million - or even 70 percent of that amount - for the unit.

An unnamed source told Reuters that, although Yahoo might accept $350 million, "Yahoo's price expectations are higher than what buyers were willing to pay. People would like to own this asset, but not at the asking price."

We'll see what happens. Considering that Yahoo's trying to sell so much stuff - HotJobs, Yahoo Games, Yahoo Small Business, and Zimbra at last count, with the sale of its Alibaba.com stake under its belt - it's not hard to imagine that the company will compromise just for the sake of closing more deals.

The Court and Campaign Finance

In the Supreme Court this week, Elena Kagan, the new solicitor general, eloquently defended the longstanding ban on corporate spending in political campaigns. But the conservative justices who spoke showed a disdain for both Congress’s laws and for the court’s own prior rulings. If the ban is struck down, as we fear, elections could be swamped by special-interest money.

Conservative jurists talk about judicial modesty and deferring to the elected branches. But in the questioning, Justice Antonin Scalia made clear that he considers Congress to be a self-interested actor when it writes campaign finance laws. Chief Justice John Roberts and Justice Samuel Alito seemed to put little weight on the fact that the court has repeatedly upheld a ban on corporate campaign expenditures.

What the conservatives seemed most concerned about was protecting the interests of corporations. The chief justice and Justice Scalia seemed especially perturbed that what they see as the inviolable right of these legal constructs to speak might be infringed upon.

The conservatives also seemed incredulous that vast amounts of corporate money flooding into campaigns could be seen as corrupting the system. We agree with Senator John McCain, who told reporters after the argument that he was troubled by the “extreme naïveté” some of the justices showed about the role of special-interest money in Congressional lawmaking.

The more liberal justices — including Justice Sonia Sotomayor, who was participating in her first argument — were far more sympathetic to the ban on corporate expenditures, but they have only four votes.

There is still some hope that Chief Justice Roberts may decide his affection for corporations is less important than the reputation of the Roberts court. If he does, there is a chance for a limited, and relatively undamaging, ruling that hews closely to the facts of this case.

The underlying dispute is a narrow First Amendment challenge brought by Citizens United, a nonprofit group that wanted to show an anti-Hillary Clinton movie on a video-on-demand service during the primary season. The court could uphold its right to show the movie without opening the door to a new era of political corruption.