"Social Media" is the buzz right now. The reality is that you need to go where your customers and clients are. So if they are on twitter, myspace, facebook, email you should be there and if you are there before anyone else the better.
However "Social Media" is really it's own form of PR and PR builds a brand not advertising. Advertising and marketing are based on ROI. So when I spend a dollar I know that I'll get 2 or 3 back. So once you get to that decision, once you test something that works then it just makes financial sense.
PR via the web, email, blogging and social media act as a long term investment that can make your advertising and marketing more effective or replace it all together.
It also comes down to budget. Realistically if you want make 10,000 a month in income then you have to plan on spending a certain amount of time and energy getting that income. At a 3:1 ROI you would be looking to spend about 3333.33 dollars. This probably looks a lot like your 1-2 person entrepreneurial adventure.
The reason I bring this up is that I am getting a lot of interest in, "Social Media" interest but I think the reason "Social Media" is effective that it is part of a total integrated campaign.
- Affiliate Program
- press releases
- Viral Videos on multiple networks
- Trade Shows
- Email Marketing using jugglemail.com