Whether you know the definition of socialnomics or not, chances are, you participate in it. Plug in to any social media site, and you’ll see the updates, the fan pages, the messages. You’ll take the surveys. You’ll use the apps. You’ll click the links. We all do, and it translates into big business for the socialnomics-savvy.
Social media can generate exponential returns. It’s a way to bring your product or service to life and let it go out and find people for you. Generate leads, increase sales, build brand recognition.
Marketing via social media has traction. And it’s low-cost. A few examples:
Wine guru Gary Vaynerchuk learned that he could spend $15,000 in direct mail and gain 200 new customers, or he could drop $7,500 on billboards for 300 new customers. BUT spending ZERO dollars on Twitter got him 1,800 new customers. He grew his family business from $4 million to $50 million using social media.
Just with a Whopper application on Facebook, Burger King estimated that a $50K investment got a $400K return with 32 million free media impressions.
Blendtec quadrupled sales with Will it Blend? YouTube videos.
Dell sold $3 million in computers on Twitter.
These examples are even more impressive when you consider that only 18% of traditional TV campaigns generate positive ROI.
As an entrepreneur, if you’re not using social media to your advantage, you’re already behind. Are you plugged in?
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