What Is The Highest And Best Use Of Social Networking For Business?
The highest and best use of social networking for business purposes is generating a list. This can be used for a multitude or purposes. However, what is important is the generation of this list. The list becomes the most important asset that a business owner or business person can have.
What is a list?
A list is a group of people who follow a business or friend a business (depending on the platform) because they like the information that the business has given them. In effect, this shows that they are potentially interested in what the business has to offer them. They have effectively raised their hand because they have chosen to follow the business or business person. This separates them from all the other possible customers because they are warm leads that have taken action. This is instead of people who have not taken any action at all.
What can you do with a list?
This list can be used to generate more sales. This is the most common use of the list. These people already have jumped through one hoop and have shown that they are interested in seeing more from the business or business owner. This means that the transition from interest to sale is much easier than making the leap from cold lead to sale. This is known as prospecting, except that most people prospect on a one on one basis. However, this is a much faster process because only the interested prospects are talked to while the people who are not interested are totally ignored.
A list can also be used to generate referrals. People already know, like, and trust the list owner. The list owner only has to ask the list who they should talk to next. The list will send a few ideas of future customers and future business associates. This is one of the most useful uses of a list. A business person or business owner will generate better leads through the existing network that they already have. These people are more likely to refer because the business owner has already shared a lot of training with the prospects. This means that they are inclined to reciprocate the kindness.
The list can also tell the owner what to do next. The best thing to do when trying to find more money is to ask the network what they need. Once there is an answer, the list owner can go out and find a solution that will solve that problem. This is the easiest market research a business owner can do. The business owner can have the market tell him or her exactly what they need or want and deliver it to the market for increased cash flow.
In conclusion, the highest and best use of social networking for business purposes is to generate a list of people who are predisposed to buying. This list of people is not only invaluable to the owner of the list, but also invaluable to the people who would buy access to the list. This list can put cash into the hands of the list owner in a variety of ways. The time spent building the list is time well spent as the list can feed the list owner for a long period of time after its creation. This is also an asset that can be transferred to another person in the future for monetary compensation.
Scott Buendia consults for Bizbuilt.com. All the views and tactics in this article are tactics and ideas of the author; they do not necessarily represent the ideals, beliefs, or trademarks of Bizbuilt.com. Visit his card on Bizbuilt here, https://www.bizbuilt.com/socialmediaprivacy.
