Launch - Spring 2009 - (Page 18)

“ Connect with people with like experience and interests, the same schools and employers, or those who are potential mentors. Don’t add connections simply to display an impressive number.” More and more Utah entrepreneurs are getting twitterpated over Twitter, the social networking site that allows you to send updates, or tweets, of up to 140 characters. From a brief search on Twitter, you quickly discover that Brock Blake, CEO of FundingUniverse, is “hosting a LivePitch event in Logan.” Social media guru Jesse Stay says, “You’re Invited to the First Utah CoWorking Offices.” JibberJobber CEO Jason Alba tweets, “ABC.com suggests JibberJobber as a gift for friends who are laid off.” Twitter and Facebook are no longer just for college kids wanting to post their party pics. Businesses increasingly use these sites to promote brands, products and services, and as a means to build relationships. But how effective are they, really? Forrester Research predicts that “Enterprise 2.0” applications — buttoned-up versions of the Web 2.0 apps we all know and love — will be a $4.6 billion industry by 2013. Social networks will make up the bulk of that, with nearly $2 billion invested in them. Behind social networking, the Forrester report asserts that the “Enterprise 2.0” landscape of 2013 will consist of mashups ($682 million), RSS technologies ($563 million), wikis ($451 million), blogs ($340 million) and podcasting ($273 million). “A business that doesn’t take the little time required to blog or use social networking is ignoring one of the lowest-cost, highest returns on investments they can make,” says Paul Allen, CEO of MyFamily.com, and a social networking enthusiast. “In just minutes you can set up a Facebook group or event and get dozens of interested people there. It’s a low-cost way to find potential contractors, employees or business partners,” he says. Entrepreneur and marketing consultant Chris Knudsen offers a more cautionary voice. “Just because a company isn’t on a social networking site doesn’t mean they aren’t considering its value or aren’t in tune with their market,” he says. “Social networking may not be where your customer-base spends its time. Every business needs to look at social networking in the same way they look at any other marketing activity: what’s the cost, what’s the ROI, etc. If you don’t do it right, you’re just another ‘me-too’ adopter.” Social media experts and entrepreneurs share six do’s and don’ts of social networking for businesses. 1. Be authentic. “If you have a stuffy, bureaucratic culture, then don’t waste your time on social network sites,” says Joel Postman, principal of California-based Socialized, a consultancy that helps companies use social media in public relations, marketing and communications. “Applying old media strategies to new media is the biggest no-no. In the corporate environment, there are so many gatekeepers. Many large companies use Twitter or Facebook like one more corporate communications vehicle. But by the time someone sees something, it’s been so massaged and filtered — it’s lifeless. Be honest and original. For smaller companies, 18 launch spring 09 http://www.MyFamily.com http://www.ABC.com

Table of Contents Feed for the Digital Edition of Launch - Spring 2009

Launch - Spring 2009 Contents Editor's Note Dashboard Mentor: Mind Your Business Ps & Qs Diary: Great Idea, Now Show Me the Money Sales: Buying Eyeballs Funding: Stay Focused! NETworking Do’s and Don’ts Be the Networking King Entrepreneur Spotlight

Launch - Spring 2009

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