Every business, small or not, has watched Facebook’s IPO with envy and awe. If a college kid tinkering with social media can build a business worth nearly $4 billion, then how hard can it be? If your company is hoping to drive sales by following the Facebook model, here are some points to consider:
- The old vs. the new – The success of Facebook highlights the expanding gap between an old business model and a new way to drive sales. Simply put, social media is not a fad. Nor is it just another marketing tool – it IS marketing. Hiring a firm or manager to strengthen your social media presence is now a necessity.
- Money talks – By going public, Facebook amasses enough revenue to develop new products and services to enhance the user experience. These will, in turn, make more money for Facebook. And what might they do with that extra money? Oh, perhaps purchase mid to large sized corporations, such as Google. And really, what small business doesn’t dream of taking on Goliath?
- Keep moving – Going public doesn’t mean becoming complacent about the best way to drive sales. You won’t find Mark Zuckerberg retiring to a Tahitian island any time soon. According to insiders, he’ll continue to nurture the creativity, flexibility and innovation that made Facebook so successful. What others dismiss as “constant tinkering” is actually improving the user experience and adding value to business owners and advertisers. The lesson is clear – the potential of social media marketing to drive sales is boundless.
Finding the magic formula of using social media to drive sales takes the ability to transform an idea into a profitable business. With enough vision and commitment, you, too, could become the next genius in a hoodie! Whether or not you get a major motion picture made about you is another story.
Image By: Francesco Schwarz
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