Create a Social Networking Site and Monetize it

When the competition comes out with a new product or service, it’s easy to feel a little defensive.  Will our customers be so impressed with the idea of a new, updated version that they’ll dump us like the proverbial hot potato?

One company in that situation recently took a different approach.

When Microsoft released Windows 7, rival computer maker Apple decided to be aggressive with a new commercial.  In it, a woman is deciding whether to stay with her current PC and upgrade to Windows 7 or switch over to a Mac.  Her dilemma?  While Windows promised wonderful new abilities, the last upgrade, Windows Vista, had provided PC users with more headaches than solutions.  In contrast, Mac had a proven reputation for reliability and simplicity.  In the end, the woman decides to go with a Mac, despite the newness of Windows 7.

What lesson can small business owners and entrepreneurs take from this? If your product or service is good enough, you can go toe to toe with any new competition.  Don’t allow your competition’s positive publicity be the only thing your current and prospective customers hear.  Know what your value proposition is, and make sure your customers do too,

Since most of us don’t have Apple’s advertising budget, we may not be able to put ads on TV, but we can get our message across by marketing through social media.

Use Facebook fan pages to talk about your product and services.  Make sure your website has clear, updated information. In each case, make sure you tell your readers how your product or service can solve their problem.

With Facebook fan pages, however, you are competing with all of the other companies on the site.  You can differentiate yourself by developing your own social networking site, like the ones offered by rSitez. It’s a way to stay ahead of the competition, reach your audience directly, and not get lost in the fan page crowd.

Be sure you don’t neglect your current customers in your quest to attract new ones.  If you already have a community of customers, fans or followers built up, remind them of how you can help them do business more efficiently. If you have established customers on your own social networking site, like rSitez, it is easy to develop blogs and forums that are tailored to their needs and that encourage their interaction.

Remember, though, that establishing relationships through social networking takes time.  It is not something that can be done as a quick fix.  But the benefits of making connections with your customers are also long lasting.

ShareThis Stumble!