This is a great week for reflection on what makes people take action. Valentine’s Day is a perfect example showing distinct sides of emotion and commercialism.
Interestingly enough, social media is very similar. There are literally hundreds of active social media sites and every one of them falls into the category of emotional, commercial or in some rare cases you will find one that offers a combination of both.
One of the biggest issues that people have with social media and business is the understanding of ROI or their ability to monetize social media for the purpose of generating revenue.
For those social media sites that have the crossover between emotion and commercialism those sites have the best chance at helping people realize that dream of generating revenue with social media. Now I’m not talking about the sites themselves generating revenue, I’m referring to the people, the users who are attempting to generate revenue for their business or projects through social media.
Facebook is a great example representing a tremendous frustration in the hearts and minds of people trying to build business through social media. Facebook is all emotional and not very commercial for the purpose of generating revenue. The ROI of working with Facebook is very simply your ability to connect with other people on in emotional and brand recognition level.
Twitter on the other hand is geared more towards the commercial side, and therefore has more opportunity for businesses to develop a measurable ROI. While there still is a tremendous level of emotion associated with the use of Twitter, more businesses flock to Twitter for the commercial side simply because of the one-sided (follow and be followed) communication. With Facebook you are required to have both parties accept the friendship and communicate to facilitate any action. With Twitter you can choose to follow someone or not follow someone and it doesn’t matter because communication will still go on.
The interesting new player in the whole game is Pinterest. What Pinterest has done in a very short amount of time is build a platform based on the emotion of a social media user, but anchor it with the commercialism that has made Twitter such an important site for business.
PInterest is one of the single most important examples of the evolution of social media. It is a tremendous idea delivered in a very timely manner to an audience looking to cross that bridge from emotion to commercialism. It’s a place where someone can comfortably share pictures of their pets while at the same time share information about their business. Plus, because of the emotional foundation of the site engagement is going to be a lot higher than on other sites as seen by their exploding user engagement.
PInterest is revolutionary. It is second-generation to the social media platforms that we’ve come to know. I believe it is also an indication of where social is going in the near-term. As with every other site you need to take into consideration the best practices of making the site work for you. Don’t introduce products and services that require a professional look when you need to focus on the emotional side in order to generate the interest. That strategy will only make you frustrated with social media.
I am looking forward to sharing more commentary about the growth of Pinterest and other emotional/commercial cross-over social media platforms.
Mike Magolnick is an industry-recognized executive with twenty years of proven leadership in addition to being a Bestselling Author and Public Speaker in the field of Social and Digital Media. He has extensive experience with marketing, sales, brand management, strategic analysis/intelligence and business planning. He is proficient at driving growth of company revenues and improving sales-team performance as well as tenacious in building new business, securing customer loyalty, and forging strong relationships with external business partners. Mike has experience with sales/distribution channels through the development of geographically distributed sales forces. He is a hard-driving, results-oriented executive, capable of significantly contributing to increasing company performance and profits.