Look, I don’t know if Facebook is worth $50 billion but I can tell you with its massive momentum acceleration in users and page views, advertising revenue will continue to grow at a geometric rate. The company has about two billion dollars in sales right now and is barely scratching the surface in terms of the additional paid services it could potentially offer. An app store for example could bring in massive revenue and as local advertising is integrated into the mix, the value of the page views will increase dramatically.
It is easy to see the company will be reinvesting in its platform making Facebook even more sticky and as it does so, social media becomes that much more important to all companies because simply stated, this is were your customers live.
It is obvious that CRM while still important has to become social CRM in order to maintain relationships in the relevant media of the day. In other words, if you are marketing exclusively on the radio you are doing yourself a disservice because more and more of your potential customers are in social networks such as Twitter and learning about your company without your input.
And if you aren’t effectively engaged in the social networks yourself and you don’t have a cohesive, consistent and evolving strategy to deal with the world of social media prospects, you let others position your company. And I can tell you from experience that if you let others position your company, you could lose control of your message and never get it back. At best you may end up fighting misperceptions that will linger for years in social networks you decided you were too busy to participate in today.
And this doesn’t mean you can set up a simple Twitter account and assume this is all you need to do.
In about a month, TMC’s Social CRM Expo takes place in Miami, FL, Feb 2-4, 2011 and it is the only place on the globe where TMC’s hand-picked speakers will be available to educate you and your company in a collaborative fashion. Your senior management, sales and marketing teams should all be there.
Look, Facebook’s value has gone from $10B to $50B in a few years and the social network is more popular than even devices from Apple.
You really need to be on top of this trend and the sooner you come to Social CRM Expo, the better off you and your shareholders will be.
My marketing team just created this and I thought it was worth sharing: