Clo Willaerts, 3 December 2009, SocialMediaForum.be

How to make money with social media

If you pick up on it quickYou can say you were

thereAgain and again and againYou're jumping someone

else's train

The Social Media Train

Who would want to make money with social media?

1. spammers & mlm2. developers3. businesses4. individuals

All the good ones are taken!

economics = the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.(Lionel Robbins, 1932)

1. Spammers & mlm

2. Developers

Abundant:

new products and services

connectivitymachine

intelligence

Scarce:

trusted opinions

private spaceshuman

ingenuity & creativity

3. Businesses

The Sales Funnel Fat pipeline equals

skinny kids

The customer decision journey (McKinsey)

Social media & buying decisions

Customer decision journey

trigger -> initial consideration

active evaluation moment of

purchase postpurchase

experience

Social media

get connected get considered get chosen get recommended

http://www.customerthink.com/blog/mckinsey_shooting_holes_in_the_sales_funnel

4. Individuals

Abundant: content the total amount of

connections

Scarce: conTEXT & trusted

filters actual relations

(not just connections)

Passionate expert

One more thing...

There is no such thing as a social media expertExpert = 10 years

experience or 10,000 hours

deliberate practice

Examples: The Beatles'

musical talents Gates' computer

savvy

@bnoxclo@bnox.be