Many professionals join social networks to obtain new clients and new business. But how do you know in which social network to actively participate? How to do you measure the ROI? Perhaps you are swimming in the wrong social network ocean to attract the most business.
The Blue Ocean Strategy theorizes there are two types of marketplaces: red oceans and blue oceans. Red oceans are filled with your competition, each of you fighting to outdo the other. As the space gets more crowded, competition gets fiercer. A messy place, to be sure. Blue oceans, on the other hand, are places where you have no competition, either because of some proprietary protection (eg. patent), your creation of a unique demand (eg. first mover) or you are in an unknown marketplace.
Are you diving into red ocean social networks in the hopes of gaining clients, with others who are competing for the same clients? Maybe it’s time to swim somewhere else.
If you believe in the Blue Ocean Strategy (BOS) maybe you could attract more business by joining social networks (online or offline) where the other members do not compete with you for the same business. Let’s say I’m a real estate agent in New York. Perhaps I will be more likely to get clients if I join a social network where others in the network are not competing for the same clients I am — where the members of the network are in complementary or cooperating fields, where I might get referrals, and vice versa.
Can you find a blue ocean social network where your competition is not swimming beside you? Or, if you find comfort swimming with your competition, perhaps you need to learn a new stroke.
Technorati Tags: social networking, marketing, blue ocean strategy
Here’s mine http://dwell.leveragesoftware.com/ Any real estate agent that focuses on modern homes should check it out. It’s a LinkedIn of like minded people.
Presenting yourself as the expert in a particular niche market via the social networks is an excellent strategy. Whether you are the relocation specialist, first time buyer specialist, luxury home specialist or whatever, it doesn’t matter. Define yourself.
It looks like there may be a third area, an in between area of blue and red. Call it internet sprawl.
I found a lovely blue ocean. It works well,maybe one day a local agent will join but their interests would have to be identical to mine for us to be in competition. I don’t think anyone else can be me, so I will stick to my first sentance, I found a lovely blue ocean.
I think competition is healthy. The best way to work any soc net is to build your brand / profile. Like personalities, the best profiles will attract the most “friends” or “leads.” Just like the best blogs retain readers.
My blue ocean
http://uniwestminster.facebook.com/group.php?gid=7297488951
You know what happens when pink and blue get together purple and thats where you’ll find me. Just below the surface taking a little here and a little there.
I think we all start in the red ocean and earn our way to the blue ocean. You never forget where you come from. Here’s to plenty of ocean for everyone and there own little beach to enjoy the process.
The red ocean for mortgage brokers is realtors. I know there are a lot of realtors here, and I am sure that all of you have been approached over and over again by mortgage brokers. My blue ocean is offline. I am focusing on financial planners, accountants and other professionals. So far, it looks like I am the only one swimming in this ocean.
Nice, Wade. Happy swimming in your deep blue.