Save the cost of the carpets
And the 3rd well-kept secret of social media is that it saves us the cost of wearing out the carpets.
In short, the story goes like this. Social media attracts more ‘window-shoppers’. The window-shoppers hopefully include surprise visits from people outside our target market. We have more people wearing out the carpets and not buying anything. They are also people who are different from our typical customers. To extend the analogy, let’s say they bring mud in on their boots too.
So is social media a good thing. If we have more people who look-see but who don’t buy, do we want them? Aren’t carpets rather expensive?
Yes they are. But in the virtual world, carpets are fairly cheap. But that is not the real point. In the virtual world, if you are smart, people make carpets for each other.
Let your customers weave the carpet
In a conventional company, we’d be most unhappy if people came to our shop just to party with their friends. That’s because they are using facilities that cost us money. We figure it is cheaper to advertise “off the premises” in magazines and TV than in the shop itself.
In social media, hosting a party costs as lot less. Sometimes it costs us almost nothing per person because the first person invites the second and the second the third, etc.
Let your management report reflect the carpet weaving operation
It is so obvious to anyone in social media but our reports don’t always make this clear.
- Attracting window-shoppers has negligible cost.
- If we are smart, we looking out for unusual newcomers. We are using the window-shoppers to help us understand how our market morphs and mutates. We are in business when we understand our market as it is, not how we want it to be.
- And if we are really smart, our ‘window’ morphs and mutates with the market so people see what they want to see and find what they want to find.
That’s what our reports and metrics should be reflecting.
- The cost per visitor
- The changing nature of the market
- The way we are responding spontaneously to changes in the market and those of our goods and service that our window-shoppers find attractive.
Now, I told you the secrets for free. I’d be happy to know what you think of them!