Post #7–Two Women Business–Kendra Bonnett and Matilda Butler

In my post yesterday I talked about the power of Web 2.0 to create a groundswell for products, whether that be a political candidate, ballot measure…or your book, service or latest widget. The case made by our recent elections serves as such a clear example that I want to follow up with a few numbers I’ve come across. The disparity in the social media presence between Senator John McCain and President-elect Barack Obama illustrates how Obama could raise record sums from so many small contributors.

• 150 million blog posts about John McCain v. 500 million posts mentioning Barack Obama (according to post on ReadWriteWeb).
• Just 224,254 MySpace friends for McCain v. 867,074 friends for Obama (figures as of 11/6/08)
• 4917 followers on Twitter for McCain v. 119,762 followers for Obama (figures as of 11/6/08).

So what do the numbers tell us? You should start building your ground game today. As entrepreneurs and authorpreneurs you can use social networking to create more than just buzz. You can connect with your customers and prospects (to provide a higher level of service) and build word of mouth support, both powerful marketing tools. And you can make sales. Social media translates into real dollars.

Your first step is to move away from your static Website and start running your site on a blog platform like WordPress. And when you start posting your blogs, aggressively use tags, keywords and search engine optimization. You’ll build valuable Web presence. While this is important regardless the market you are trying to reach, it’s absolutely essential if you target the Gen X and Gen Y markets (consumers 14 to 44). Fully 90 percent of the 130.5 million young consumers in the United States rely on the Internet for most of their information. Their collective annual income? Almost $6 trillion.

If you’re not sure how to start, let an Internet marketer help you develop a professional blog and create a blogging and social networking strategy. Getting started is not expensive, and once you’re up and running you’ll easily be able to manage most of the site yourself. This is a cost-effective strategy with huge potential for payoff.

Post #5–Two Women Business & Publishing–Kendra Bonnett and Matilda Butler

Traditional media has been taking a beating of late. Well not just of late. Newspapers and magazines have been reporting declining readership, lost ad revenue, and dwindling stock values for some time now. Seemingly the only thing going up are the number of layoffs. And now after about a century of daily publication, the Christian Science Monitor will cut back to a weekly. Last night on the NewsHour with Jim Leher, we heard an interesting segment, called “Old Media, New Media,” and I’ve included a link to the audio file.

There’s no question print media has to change to remain at all competitive. And digital media is the cost-effective choice. Paper, printing and distribution costs make it difficult for publications to compete aggressively for readership that’s drawn to 24-hour news, cable TV channels tailored to virtually every interest, mobile media and the Internet. Add economic uncertainty to the equation and it becomes virtually impossible.

So what does this have to do with blogging? It’s this. For all I read and hear from the traditional media about the need to cut costs and reposition themselves in the digital arena, I hear very little about how they’re going to build their Web presence.

I grant that the major magazines and papers have a stronger brand than you and I, and that many of their loyal readers will follow them online. But will they stay? It all depends on how effectively the old media make the transition. Will they embrace interactive formats, encourage forums, blog effectively? Will they be able to compete with social networks? Some will. Many will not. The new media is not traditional media sans the paper and ink. Success requires a new template.

The same applies to authors and entrepreneurs moving online from traditional publishing and brick-and-mortar businesses. Blogging and social media are key components that we’ll continue to explore there. But I want you to leave you this link to a discussion between author-entrepreneurs Seth Godin and Tom Peters recorded for American Express’ Open Forum.