Many of our clients are new to the social media scene and are having a difficult time grasping its potential.  Some (business-to-business clients) believe it is better suited for consumer audiences, while others think it is unproven and not worth the time or budget.  I wrote about one client conversation in this post – Join the Social Media Conversation – a few months ago.

While we continue to chisel away at common misconceptions related to social media, our view is that there is a strategic place for this new medium in every business, market, industry, sector – you name it.

Answer this simple question: If someone was talking about you – good or bad – wouldn’t you want to know about it and have the opportunity to thank them for the compliment or right a wrong?

In social circles, people “talk” all the time. They talk about your company, brand, product, service, and even you.  As Steve Rubel points out in his talk last week on The Power of Corporate All-Stars on Twitter at the 140 Characters Conference, you need to be a part of the conversation and create “digital embassies” and “ambassadors” to best position and manage your brand’s interests in these social circles.

Exploring social media is not just about marketing, generating awareness or buzz.  While it can help in these areas, social media should be considered for other aspects of your business, such as customer service, sales, research and development, etc. This is how Zappos operates (and grows) its business each day and the reason why Dell booked $3 million in revenue (since 2007) via Twitter.

The opportunities are endless with social media. And while it is still in its infancy and there are no specific best practices, never before have you had a two-way channel to engage and interact with customers, partners and prospects so cost-effectively. 

It starts with you.  Take the first step and embrace social media.  If you don’t, it certainly will not embrace you.

Update:

Interested in the ROI aspects of social media? Check out this article:

• Social Media and the Acid-Bath of ROI by Tim Walker

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