Monetizing social media..ka ching!

It has been a while since my last post .. must try harder. Got a flyer in Marketing magazine this morning for a conference called How to monetize Social Media – Now!   Terrific proposition – since it is the question every marketer is asking. The catch is that it isn't now but halfway through July, there's no prices on it so its hard to calculate how you're going to monetize if you can't work out how much you need to spend on their course before you get a return from your social media. And hilariously (to me at least) its located in Monte Carlo which sounds expensive and shall I say has the whiff of the casino about it..

other observations :

1/ They announce social networks as "the mother of all CRM systems: a complete database of demographic data, likes and interests, sentiment, status and location kept constantly up to date by the people themselves" Is this smoke or a mirror I see before me? Let's remind ourselves folks that managing customers is about organising and interpreting information and interactive communications with customers. Yes you can collect data in a database but that doesn't give you CRM..

2/ Is it only men who know about social media? The speaker list is exclusively male. They have got a glamorous MC but she appears to be at best a business journalist and at worst a pretty newsreader..

hmm I look forward to when we move beyond megasummits offering the answer to everything and start to harness social media channels to achieve specific goals. 




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