This past Thursday I spoke on a panel moderated by Joyce Schwarz, which included Deborah Perry Piscione of Bettyconfidential.com, William Alena of myyearbook.com, Aki Hashmi of Allvoices.com, Rebecca Weeks of Realgirlsmedia.com, Maura Welch of Weeworld.com, and Mimi Jakobovits of Musicane.com. The title of the session was "The Web, Social Media and Advertising" but I think we covered everything from: Social Media Advertising to Social Media Communities and finding ways of monetizing content.
One of the things I took away from the panel is that now more than ever, there are opportunities to monetize content in interesting ways. Knowing your businesses unique position or offering in the marketplace is a critical first step. In addition, a well thought out business media strategy utilizing corporate branding online will surely make for a good start. From a strategy perspective, you should consider syndication, as well as bringing sponsorship into a niche community that serves the brand well. Weeworld is a good example of a company that has a very unique way of offering brands a fun/virtual environment to engage audience online. Further, it not only has a unique destination site but it also has a great strategy for reaching audiences on other sites.
As we are all aware, there are no silver bullets when it comes to Social Media Advertising or monetization, so a great place to start is:
1. Knowing what your audience and your value proposition
2. Create valuable partnerships because you can't possibly do it alone
3. Create a plan that Brands can clearly understand that takes advantage of syndication and existing social networks
Starting with a good Social Media Platform can certainly help speed your efforts to market but that is only a beginning. Look at what other successful companies are doing can help add tremendous value in knowing your market and its leaders. The good news according to a recent Forrester Marketing Forum is that "Marketing budgets are following the innovation trail — social media spending in the US will grow from $716 million this year to more than $3.1 billion in 2014, a 34 percent compound annual growth rate (CAGR) - see the entire article at: http://au.sys-con.com/node/934450.
Hope to be reading about your success story in the very near future...
One of the things I took away from the panel is that now more than ever, there are opportunities to monetize content in interesting ways. Knowing your businesses unique position or offering in the marketplace is a critical first step. In addition, a well thought out business media strategy utilizing corporate branding online will surely make for a good start. From a strategy perspective, you should consider syndication, as well as bringing sponsorship into a niche community that serves the brand well. Weeworld is a good example of a company that has a very unique way of offering brands a fun/virtual environment to engage audience online. Further, it not only has a unique destination site but it also has a great strategy for reaching audiences on other sites.
As we are all aware, there are no silver bullets when it comes to Social Media Advertising or monetization, so a great place to start is:
1. Knowing what your audience and your value proposition
2. Create valuable partnerships because you can't possibly do it alone
3. Create a plan that Brands can clearly understand that takes advantage of syndication and existing social networks
Starting with a good Social Media Platform can certainly help speed your efforts to market but that is only a beginning. Look at what other successful companies are doing can help add tremendous value in knowing your market and its leaders. The good news according to a recent Forrester Marketing Forum is that "Marketing budgets are following the innovation trail — social media spending in the US will grow from $716 million this year to more than $3.1 billion in 2014, a 34 percent compound annual growth rate (CAGR) - see the entire article at: http://au.sys-con.com/node/934450.
Hope to be reading about your success story in the very near future...
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