We’re stoked that our partners are getting the benefit from our ecosystem and we see a virtuous circle sending plenty of love back. Interesting in Nates tweet is the comparison of social media to traditional paid for advertising.
A social media strategy is not free – it’s a different investment. A few in our team spend a lot of their time on social media and wherever possible we mutually promote our partners and try to write interesting content that add value or start a conversation. We’re learning a lot as we go along. In hindsight too I think we now know that it takes a while to build a critical mass.
However examples like this from 3Bit show that social marketing is blowing up traditional advertising business models. While it may take a while, social marketing has to be a key part of the marketing strategy for any business that wants to grow cost effectively.