Sunday, October 01, 2006

Beyond Advertising

Advertising is not the only model for monetising Social Media but it seems to be the only idea in town.

I am tempted to write about this because of a Red Herring post.

Lets suppose, for a moment one took the advertising out of the deal.

What is of value.

Assets:

Relationships
The digital footprint.

Investment:
Systems and procedure development (especially to make the corporation responsive to consumers)
Creative (technical, managerial, systems) input into the organisation.

P&L:

Direct contact
Sales opportunity
Sales completed
Continuous consumer relations

The problem is that we are hamstrung by the accounting systems we use.