How to make money with social media

Clo Willaerts, 3 December 2009, SocialMediaForum.be How to make money with social media

If you pick up on it quick
You can say you were there
Again and again and again
You're jumping someone else's train
The Social Media Train

Who would want to make money with social media?
spammers & mlm
developers
businesses
individuals

All the good ones are taken!
economics = the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. (Lionel Robbins, 1932)

Spammers & mlm

2. Developers
Abundant:
new products and services
connectivity
machine intelligence
Scarce:
trusted opinions
private spaces
human ingenuity & creativity

3. Businesses
The Sales Funnel
Fat pipeline equals skinny kids

The customer decision journey (McKinsey)

Social media & buying decisions
Customer decision journey
trigger -> initial consideration
active evaluation
moment of purchase
postpurchase experience
Social media
get connected
get considered
get chosen
get recommended
http://www.customerthink.com/blog/mckinsey_shooting_holes_in_the_sales_funnel

4. Individuals
Abundant:
content
the total amount of connections
Scarce:
conTEXT & trusted filters
actual relations (not just connections)

Passionate expert

One more thing...

There is no such thing as a social media expert
Expert =
10 years experience or
10,000 hours deliberate practice
Examples:
The Beatles' musical talents
Gates' computer savvy

@bnox
[email_address]

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How to make money with social media

by Clo Willaerts on Dec 03, 2009

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How to make money with social media — Presentation Transcript