Who’s following You?  Have you looked in the mirror lately?

What’s the fastest growing marketing tool for businesses today?   It’s Social Media, and did I mention it’s free? We call it BIZ2.0. It’s a new way of thinking and doing business. For simplicity let’s focus on three of the most popular business tools - LinkedIn, Twitter, and Facebook.

So you’re collecting Connections on LinkedIn, Friends on Facebook and Followers on Twitter.

• What’s your criteria for following back?
• Are you effectively building your network?

Chris Brogan, a well respected social media thought leader, wrote “You’re Doing it Wrong” openly discussing how we participate in social networks. Here are some of his comments:

• You follow too many people on Twitter.
• You don’t allow blog comments.
• You add people to LinkedIn that you don’t know very well.
• You have ads on your blog.
• You use partial RSS feeds.
• Your blog posts are too short (too long).
• You shoot really long videos and don’t edit.
• You don’t follow people back.

Shawn Welch wrote a follow-up post suggesting that “Social media is not the place for instant celebrity…” and adding

“It’s tempting to join a network like Twitter and follow everyone under the sun because it’s easy and that feels like success. But even if you pick up 500 or 600 auto-follows or a few polite follow-backs, you’ll quickly find you’re not the success you think you are.”

Shawn states there are two key principles to social media:

Patience — slow growth wins over aggressive expansion

Build relationships along the way, interact and engage

What’s your strategy?

• Which tools are you using – LinkedIn, Twitter, Facebook?
• What is your strategy for building these networks?
• What are your criteria for accepting a Connection, Friend or Follower?

The Tools – Each tool has a different reach and target market – who uses it.

Reach:

• Facebook - 400 million people globally are active users -50% active users log on to Facebook in any given day and more than 35 million users update their status each day
• LinkedIn - 60 million professionals with high personal incomes
• Twitter -18. 1 million unique visitors in December 09- 579% growth from December 08

Who uses it?

• Facebook – 35+ demographic now represents more than 30% of the entire user base,  55+ audience grew a whopping 922.7% in 2009.
• LinkedIn - In US 52 % are men and 48% are women; 38% make over $100k per year.
• Twitter – 70% are over 25; more females than males

BIZ2.0 Strategy
It’s clear that social media is impacting the business world as documented in Jeremiah Owyang’s Collection of Social Network Stats for 2009. Social media is re-defining and expanding relationships in the global business community.

The key to BIZ2.0 is the building of a strong and relevant network. In the traditional business world, networking is considered a very valuable marketing tool for sales, recruiting, exposure and building relationships. In a WEB 2.0 environment, BIZ2.0 is becoming a tool to build your personal brand, become a Thought Leader and generate targeted sales opportunities. This network represents you and reflects on the work that you do. In addition you now have opened your contacts to the business world.

Social media tools are new to most business people. For the most part they have not developed a strategy to build their valuable network. Many people just collect friends — as many, as fast as they can. They are called open networkers. There are no criteria. You are virtually accepted on a cold contact, based on their belief in open networking or referral from another follower. The more the merrier! The alternative is to step back and develop your personal BIZ2.0 strategy using your own social etiquette.