This comment was taken from one of my insights on GLG Councils. Thought I'd share here too.
I believe a combination of strategies is important.
Now as it was hundreds of years ago, the most efficient way to influence people into purchases is word of mouth. This means that social networks are indeed a very powerful way to push your offerings forwards. Unfortunately, social networks are now flooded with offerings from all sorts of sources and sites like Facebook have become less efficient at transferring this kind of impulse even among friends due to the sheer amount of offerings that are suggested and passed along by friends.
That being said, it is still very potent if you can make the offering unique or provocative enough to attract more attention to it.
The challenges to this method are as follows:
1. You must spend the time to build this network of friends or customers within networking sites which would allow you to share the offerings. Spending money on Facebook ads won't cut it. You should build lots of friends for yourself and your partners, build a Group that enjoys your subject, post your offerings in groups that are interested in what you are offering and invite them to your pages. This takes time to build up, but once you are successful at having tendrils in multiple social media sites, this can be an interesting way to generate significant word of mouth.
2. Make sure your product and site is listed on popular feedback and comment sites. Do this by reviewing your own stuff. :) This is another way to get word of mouth.
3. Find a good mailing list system and build that mailing list. Mailings is not word of mouth, but it is the most targeted way to get the word BACK to people who already had contact with your product and site.
The idea and challenge is to create a web of interconnectivity that leverages people's basic instinct to share, acquire trusted information from 3rd party sources and have a good social experience (emotions are involved here).
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