Can social media drive profit?

I would suggest that the real question is whether this statement is a contraction.
Does one have friends to make money out of them! I would hope that those that read this article are not like that.

I wrote a few months back about the vulture mentality that I experienced when I attended my first and last business networking event. NB I had been invited and maybe I went to the wrong type and have since been tainted to consider that many have alternative agendas. Maybe there are networking conferences that do work?

However, I am quite optimistic about the potential online version of business networking and social media.
NB Not with the goal of money as my feeling is that it if a business opportunity results then it is good for all that were involved in deriving it. Maybe my optimisim is drawn from a view that people do respect good quality knowledge and an ‘air’ of helpfulness can help build trust.

I’ve just set up The aim is to develop a Corporate Podcasting, KM, PM and eLearning Network Community. The central theme is to share best practice and the possibility of working on some joint projects – well, we live in hope. With regard to the latter, I also hope that the community will not be passive but passionate about these interelated topics.

In summary, the mission for the network to bring together professionals that wish to engage in sharing processes, procedures and techniques that work. A way of passing back efficiencies between us – ideal when developing complex business strategies or to improve decision making.

From a corporate perspective, if investment in online Social networks and associated social media tools could help reduce organisation duplication, complex reporting structures and miscommunication then the result has to be greater unity and openness of working practices. Maybe they have the potential to expose malpractice or even exploitation. Maybe that is why they have not really taken off!

I live in the hope that this business network will help to yield business opportunities and perhaps improvements in customer services, or even contingency planning.

An immediate application is for such as site is government departments or training communities. They could immediately establish a membership organisation (either private or public) where a single point of reliable knowledge can be faciliated. For example, the power of RSS can drive portlets from a single web ‘wall’ of consistency.

See you over there too!

Categories: Media Watch

1 reply

  1. Just a note to say that is now up and running!

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