Let’s face it, “back in the day”, business was done on a handshake. It was word-of-mouth based on personal experience. Trust.
A recent study by research and consulting firm Morpace found that approximately 68% of Facebook users said that a positive Facebook friend referral would increase their chances of purchasing a product or visiting a retailer. You’ll be the business in your friends’ networks who is the expert in your field!
On average each Facebook user has 130 friends. So if you advertise to friends of your fans and you have 100 fans you will be able to reach 13,000 of their friends. If you have 10,000 fans…well you do the math. All I see is golden opportunity for a forum that’s designed to link networks.
I personally believe this form of networking will hold businesses to a far higher level of integrity than ever before. Bad experiences will be bad news that travels fast – so businesses will once again be focusing on boosting customer service back up to the level it should have been all along.
Good news will simply drive customers to your business. Glowing reports generate personal excitement – even a little bit of competition! After all, when we hear about something great, we want in on it.
Social Media = relationship selling. Are you networked in yet?