Wednesday, August 4, 2010

Social Media, Facebook and Twitter, Today's Third Party Endorsements





Third Party Endorsement
Solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user) other than the manufacturer and seller of a product or service.


Many of us today are shocked over the growth of social media---Facebook, twitter and the like.  Facebook, for example, has over 500 million users or more than the entire population of the US.  How did something grow this big, this valuable, essentially overnight?


I think one of the main reasons at least from a marketing perspective is this idea of the "third party endorsement."  Let's face it.  We no longer live in a geographic community.  We shop on Ebay and Amazon.  We go online and buy things from literally continents away; its shipped in on UPS and we have it in our den all without leaving our house.  That is our modern world.  


So, from a business perspective and a customer perspective, the social media sites now fulfill the "old reputation void" that used to be present in small town life.  Every businessman knows that a disparaging remark on your Facebook page or a negative response on Ebay can literally kill your business.  So, we as clients now demand this "accountability loop" or third party endorsement to insure accountability from the businesses we deal with.  


Is your business engaged in social media for its marketing efforts?  If so, let me know how its working for you and whether is helping you build a better business.  If you want more information, contact me, Todd Hunnicutt, at todd@realinternetsales.com.
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