What is social media exactly?

As I am sure you have noticed, social media is one of the hottest topics out there right now.  Google the phrase “social media” and you will find many definitions.  It is described as web-based tools for sharing and discussing information, websites where users create the content with a strong emphasis on user participation, online platforms where people communicate and connect….and on and on.

But I like to describe it as one giant conversation without borders.

As entrepreneurs, we’re interested in how we can use social media to market and grow our businesses.  Social media marketing can be described as businesses having conversations rather than in-your-face promotions.  It’s participating in online communities where your customers hang out.

The most crucial thing to understand about this type of marketing is that it’s never about a hard sell, or “pushing” anyone to do something.  Rather, it’s about connecting, building relationships and word of mouth.

So why social media now?

Traditional marketing still has it’s place, for sure.  But people are becoming more and more immune to advertising.  Online users want to participate, share and give their views and opinions.  The internet has allowed us to shift from being passive consumers to more actived, involved ones.

I still hear plenty of people refer to these social sites as fads or only for teenagers or college kids.  I have to remind them of the fact that our now president, Barack Obama, raised a large portion of his funds through social networking–including social sites, social elements on his blog and email marketing.  Definitely something to think about.

It’s more than MySpace

What are some examples of social media platforms?  There’s video (YouTube), micro-blogging (Twitter), imagery (Flickr), as well as RSS, blogging, widgets, chat, forums, poscasting and more.

But one of the biggest is networking and it’s what you would consider two of the largest social media sites–LinkedIn and Facebook.  These sites are also two of the most popular among business owners and professionals.

A common question I’m asked is what is the difference between them.  I like to say that LinkedIn is more a business network with social aspects whereas Facebook is more a social site with business aspects.  I’ve also heard them compared as “button-down” vs. “t-shirt and jeans.”

Keys to Success

How to make sure you are getting the most out of social media?  First and foremost, you want to be authentic and real.  Fill out your profiles thoroughly and aim to be consistent across different networks where you have a presence.

Balance out any promotion you do with genuine, useful conversation and relationship-building.  The important thing is to be seen as engaging and helpful and to participate regularly.

Results won’t happen overnight–but you are planting the seeds and growing relationships that can pay off significantly for you in the future.