Creating Social Media Value: Intro

The value of using social media for business purposes is a never ending pursuit of old markets trying to adjust to a new market.

Time will change the value because technology is advancing and then changing how social technology is being used. Given the dynamics of change many people and organizations wonder how to create value today that last tomorrow.

The “Parts” of Value Creation

In an earlier post we discussed “Which Part of Social Media Sells?” and we shared our thoughts on the different parts of social media. Once you decide to use social technology, for whatever purpose, the processes required include:

1. Administration & Management of personal and organizational presence on the web.
2. Listening and Learning what your markets needs, wants, desires and intentions are.
3. Thinking and Planning what you should do to create value for the market you aim to serve.
4. Engaging and Measuring whether you are effectively and efficiently exceeding your markets expectations for value.

The return on investment of time and cost related to the four processes above is directly reflected by the quality of the decisions required in each  process. In order to maximize the return on investment each process needs to be maximized to its fullest potential.

Which Part Creates the Most Value?

Each process within the system of social media adds value.

The first value is making yourself available to the market where the market is. Initially this is an administrative and technological task for increasing your presence throughout the web.

The second value creation is by listening and learning how your market behaves and what influences the behavior. First you have to understand before you can be understood.

The third process is where the most sustainable value is  created over and over. Thinking about  your market’s intent and exceeding the expectations is how you can create sustainable value for the market.

If your intent exceeds the markets expectations then you will know based on what, where, when, how, who and why the market responds to you.

Markets shift and technology is changing the way markets interact. Subsequently your “system of engagement” must change based on how the market operates and responds. This requires a never-ending fluid exchange of information and knowledge shared between each  process illustrated.

Social media isn’t what creates ROI rather a return on anything in life reflects the quality of our thinking. A wise man once said “as a man thinketh so is he”. As more and more markets migrate to use of social media what, where, when,why, who and how you use it is transparent to the marketplace.  That means your actions, or lack thereof, and your intentions are seen by everyone. The only thing that can improve your actions is your thinking.

New knowledge helps change how and what we think. What are your thoughts?

This post is an introduction to a series titled “Creating Social Media Value” which will run over the next thirty days.  We will dive into the elements of each process within the “system of social media“. Stay tuned.

About Jay: Jay Deragon’s professional career includes providing strategic management consulting services to Fortune 500 companies as well as local small businesses. He has consulted with numerous industries spanning over 25 years of professional experience globally. His current professional endeavors are all centric to the disruptive nature of the social web. He writes at Relationship Economy and provides social media strategic services to businesses large and small. Jay Deragon is an avid student of the emerging landscape of all things social and the subsequent impact on business dynamics. Since 2004 Mr. Deragon has been actively studying, sharing and learning how business as unusual is changing business methods, models and relationships. Life is a journey and the experiences along the way provides learning that furthers the experiences if we know how and what to learn. for more info go here http://www.relationship-economy.com/?page_id=2

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