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Monetize your business with social media

May 25, 2009

Social media is the current craze you read and hear about everywhere.  The current crisis of main media suffering from shrinking revenues and massive fragmentation, losing audiences to other sources of news and entertainment has in my opinion reached the tipping point.
 
The question now becomes how can you succeed in social media?
 
The short answer is by educating and entertaining your social network. Creating content that is buzzy.
Larry King 
This is easier said than done but doable once you know the basics.  Enter Larry King, one of the most successful and longest running talk show hosts.  Mr King has mastered the art of interviewing the world’s most powerful and most glamorous people. How did he do it?  By learning to interview ordinary people who dined at a start up restaurant.
 
Larry broke the code for story telling by being absorbed in and finding “that” which made the person in front of him interesting for his audience. 
 
Lesson I
 
People are interested in people not products or services.  This is why People magazine is the largest paid subscription magazine.  We can’t get enough of the tidbits and images of the people in the news. How can you take this knowledge and use it right away on your social network?  Create content that makes you authentic and transparent in what you say and post.
 
Spin will not work and it can be a serious liability in the creation of your own brand.  Imagine that you were on Larry King Live being interviewed.  How would you answer these questions?
 
How did you choose to do what you are doing?
 
How does your job or business support your personal goals or life mission? 
 
Tell us about your worst mistake in life or in business and what did that teach you?
 
Since retirement is now becoming less of an option do you feel you could do what you are doing for the rest of your life and why or why not?
 
You get the gist of this line of questioning it’s all about you.  Having interviewed many guests in radio many people are uncomfortable talking about themselves.  Do whatever it takes to get over it!  Social media is all about you and why you are unique and interesting to know you and do business with you.
 
Lesson II
 
If you are listening to an interview one’s defenses against a pitch are not on high alert.  It is non threatening and you are absorbed in the story.  Social networks have a hyper detection for bs, hype, and the pitch.  What makes callers so engaged that they call in?  They want to know for themselves what a person’s viewpoint or opinion is on a topic important to them.  The lesson here is you can not sell directly.  The most you can expect to do in a social media network is influence.  How?  Make your product or service be an extension of you the expert.  Now is the time to communicate to your network about what things they are thinking about and worried about. How can you and your offering be the solution they need?
 
Lesson III
 
Larry King admits that the most engaging and memorable guests are the comics.  Why?  They tickle our funny bone and they are magnets for drawing us in.  In advertising it has long been recognized that humor makes a commercial more memorable.  Are you funny?  Can you take funny pictures or write funny short stories to feed your blog?  One caveat to keep in mind is not going over the edge to lose credibility. It is imperative that one build strong brand equity as though you were Coca Cola, Apple, Google or some other well known brand.  We have entered the era of You Inc.

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One Comment leave one →
  1. May 26, 2009 4:14 am

    Great post!

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