Sunday, May 30, 2010

Media Strategist Jay Deragon Addresses Basis for Effective Social Media Revenue Generation

Management Consultant and Social Media Strategist Jay Deragon has released a new white paper entitled 5×6 Social Media Revenue Matrix available for free download via the "pulbications" section of his widely followed blog, Relationship Economy ( Deragon penned this timely publication in response to business' growing demand to align revenue generation with social media efforts.

"Too many businesses are doing it wrong," Deragon reports. "They are trying to use social networking for traditional selling, and that simply doesn't work."

Deragon, who consults with major corporations globally on the use of social strategies, states that he observes even large scale brands trying to impose archaic rationale in interacting with online communities. He contends that online communities are only effective in leading to revenue when they are approached with superior relational skills.

"This means that brands need to listen to their consumers, engage them in conversation and genuinely respond and interact for the long term. This is the only way to achieve loyalty, action and advocacy of a brand amongst consumers."

In the 5×6 Social Media Revenue Matrix, Deragon provides practical insights on how to properly utilize social media to achieve business' desired effect: revenue generation. He highlights five essential aspects of any social media strategy for brand building purposes and intersects those components with six core questions that must drive any social effort or campaign.

As the social media landscape continues to evolve and social networks become more integrated into human interactions and information acquisition, more and more brands and businesses have entered the arena in hopes of bolstering marketing to garner measurable sales growth. In the new white paper, Deragon illuminates why misguided motive inevitably derails efficacy of effort every time.

"Social interaction never negates the need for great service, quality products and sincere interactions with consumers. Everything we've ever known about building customer trust and earning the sale still applies. Social media is not a magic bullet," he summarizes.

The white paper is available now via for free download. Click on the "publications" tab for direct access.