Last week, we began a discussion about the use of online social networking for marketing and recruiting. We talked about some of the principles that seem to govern this puzzling environment. But, maybe it is only puzzling because we approach it from an odd perspective.
Earlier this week, I was packing up for a business trip to Philadelphia. My three-year-old noticed I was
loading my suitcase and asked me to bring her back a seashell from my trip. I told her, “Honey, I’m not going to the ocean on this trip, so I can’t bring you back a seashell.” (My last trip was to the New Jersey coast and resulted in a seashell I picked up on the beach.) But, she was undeterred. Before I left the house, she made the same request three or four more times, each with a gentle reminder from me that seashells were not plentiful in Philadelphia. As my wife dropped me off curbside at the airport, she gave it one more try… "Don't forget to pick up a seashell for me Daddy!”
It is clear that my daughter now connects business trips with seashells. Granted, she is three years old and still has a few things to learn. But, she is making the same mistake many of us make when we approach online social media—we assume (and hope) that this environment will respond like environments where direct marketing tactics are effective. After all, there are a whole bunch of people congregating in one place, based on similar interests (much like a direct mail list or a tradeshow). It only makes sense that they would be open to receiving and acting on well-crafted marketing messages, right? Wrong. Not all business trips produce seashells, no matter how often we ask.
In social networking, there’s a principle called “Relational Currency” that seems to govern interactions. Michael Hyatt, CEO of Thomas Nelson, a large publishing company, does a great job of describing this principle:
“Sometimes when I speak with marketing executives about social media, they seem to get it. But they don’t. Not really. They falsely believe that Twitter and Facebook are like every other broadcast channel. They see it as an opportunity to blast their message out to thousands of followers—for free!—and sell them stuff. My response? No. No. NO! A thousand times, no! Twitter is not a broadcast medium.
Twitter and Facebook are relational tools not transactional tools. Contrary to what many think, social media rewards:
- Generosity;
- Other-centeredness; and
- Helpfulness
It is a vehicle that appeals to people’s deep, God-given desire to connect. It works when there is trust. When it becomes just another form of spam (violating people’s trust), it fails to be effective.”
If we insist on using direct marketing currency (well-crafted messages that highlight the benefits of a product, service, or new position) in an environment where only social currency (generosity, other-centeredness, and helpfulness) is accepted, we’ll naturally experience a lot of frustration.
Michael Hyatt goes on to describe an “exchange rate” for the world of social networking:
“This [exchange rate] is what I have come to call the 20-to-1 rule. It represents a ratio. It means that you have to make 20 relational deposits for every marketing withdrawal. This isn’t science. I don’t have any hard, empirical evidence to prove it.
But I have observed that if you just keep asking people to do something—buy your book, come to our conference, sign up for our cause—without making adequate deposits, they will begin ignoring you. Eventually, they will unfollow you and disconnect from your updates.
No one wants to be spammed. Not today. There are too many alternative sources of content. If you want to build a social media presence, one where people listen to you, then you have to be a giver not a taker. I think 20-to-1 is about right.”
Here’s the take away—don’t expect to get your marketing or recruiting message heard in the realm of social networking unless you’re willing to use the currency that works in that environment. To be effective, you’re going to have to put in a lot of effort and be a legitimate contributor.
Now, does anyone know where I could find a seashell in Philadelphia?
Source: http://michaelhyatt.com/2010/04/the-20-to-1-rule.html
Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.
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