Is Social Media A Bet?

by Jay Deragon on 07/08/2009

Copy_of_You_BetMarketers will spend over $350 billion advertising on the web this year “betting” that they will reach the intended market of buyers. Advertisers create slick campaigns “betting” that they will get the markets attention to their offering.

When we say “betting” we usual think in terms of gambling.  Over $800 Billion annual is spent on  legal and illegal gambling in the U.S. alone. While many people don’t consider themselves gamblers the fact is everyone is betting that their idea, product or even their conversations will get traction and ultimately lead to revenue.

What Do You Bet?

People and businesses are spending a lot of time trying to engage people on Twitter and for that matter every social networking site in the universe. People put out content “betting” it will attract people to their conversation, their offering or in lots of cases their scam.

Think about this. Why do you publish content and engage in conversations? You bet that your content is meaningful and engaging. You bet that people will retweet it because you believe you have something worthy to say.  You comment on other people’s content because you think your comments are worthy of expression and “bet” it may be worthy of reading. You also “bet” that your perspectives are either right or helpful to others.  Consciously and unconsciously we “bet” that our conversations, our perspective, our offering are worthy of an audiences attention. Otherwise why would anyone spend so much time engaging in online conversations?  I bet you think you have the answer. If so share it and see if others agree with your bet.

What Are The Odds?

All bets have odds. A casino owner knows the odds are in their favor. To increase the odds of winning a bet you need to understand the odds and what tips them in your favor.

To gain the currency of your conversational bet you must understand how to work them in your favor. The odds of creating conversational currency are based on the “human network” and not the “institutional network“. The difference between the two is  creating “human content” vs. “institutional content“. The difference between those two is knowing how to speak in human terms.  Human terms are based on an exchange of value received.  If your conversations doesn’t create and give value you can “bet” the house will win.   One other thing you can bet on. If you try and steal peoples time and trick them into a conversation you can “bet” your not going to “get” any value back.  Make the wrong bet and you loose.

I’ll bet you have something to say. What say you?

{ 11 comments }

Katie Gutierrez July 14, 2009 at 9:28 am

Is Social Media a Bet? http://bit.ly/9ShEi

Marci Rosenblum July 9, 2009 at 11:40 pm

RT @tweetmeme Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/9ShEi

Mike Johansson July 9, 2009 at 3:55 pm

Marketers 2 spend $350B on Web this year. Is it a gamble? – http://is.gd/1rD18

mikefixs (Mike Johansson) July 9, 2009 at 3:59 pm

Twitter Comment


Marketers 2 spend $350B on Web this year. Is it a gamble? – [link to post]

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freedomaleeds July 9, 2009 at 9:02 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/3FSgJ

Darryl Jones July 9, 2009 at 7:03 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/14Ubi5

Abbe Buck July 9, 2009 at 6:58 am

YES RT @CraigColeman Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/HEm9H

Craig Coleman July 9, 2009 at 6:56 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/HEm9H

Gregory Parks July 9, 2009 at 6:49 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/3IVpPB

Charles McDonald July 9, 2009 at 6:39 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/49SnOI

Herbert Harris July 9, 2009 at 6:37 am

Is Social Media A Bet? | The Relationship Economy…… http://bit.ly/37MmJM

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