Conversations that lead to conversions
I picked up on a couple of conversations today - one from Britopian and one from a blog new to me, remarkable communication - that asked similar questions about my favorite topic, social media marketing.
Britopian asked, "[I]s social media about conversions, traffic, click though rates and sales; or is it more along the lines of conversations, authenticity, transparency and building a sense of community?"
Remarkable communication asked, if you only have a budget for one, which should you do, relationship marketing or social media?
How would you answer those questions?
In answer to the former, I say both are necessary.
I hold dearly to the Cluetrain mantra, "markets are conversations." However, conversation for the sake of conversation is not enough. To borrow a thought from Geoff Livingston, instead of conversation, think engagement. And that engagement must ultimately lead to a business transaction sooner or later. (Ask the CEO and he'll tell you sooner is better.)
It's like what Seth Godin said years ago in his classic book Permission Marketing: "Turn strangers into friends, and friends into customers." Conversations that lead to conversions. That's what social media marketing is all about.
In answer to the latter question, I also say both. So does the post's author, Sonia Simone.
"A YouTube video, a Squidoo lens, a Facebook app, a Digg or De.licio.us or Stumble strategy--all of these do one thing particularly well. They capture attention," says Sonia.
She adds, "Once you have someone's attention, you need to build on that and start creating a relationship."
If I interpret her correctly, Sonia is saying something similar to what I shared, that engagement is necessary. It doesn't matter if you have them at hello, you've got to pull them down the conversion funnel using relationship-building techniques.
If we put all these streams of thought together, we come out with something like this:
- Use social media, or what Hugh McLeod calls social objects, to get people's attention.
- Engage them in conversation with a view toward building a trusted relationship, a friendship.
- Use that conversation as a way to lead them to making a buying decision.
Notice what I said, "use" the conversation, not the person. "Engage" the person and do so respectfully and with the sincere motive of gaining a friend. But, let's face it, we're not doing this just to win a popularity contest; we're doing it to achieve a business end, and that end is profitability.
Conversations that lead to conversions. That's what social media marketing is all about. Do you agree?
Ah yes, best summed up by Yogi Berra:
"You've got to be very careful if you don't know where you're going, because you might not get there."
Nice write up of the choices between relationship and social media marketing.
Posted by: Geoff Livingston | April 14, 2008 at 07:06 AM
Paul, thanks for your continual contribution to my education in online marketing, media, and networking.
Posted by: @daltonsbriefs | April 14, 2008 at 09:01 AM