As we must expand our capital searches in this economy to funding sources outside of our immediate industry insiders, we now continue our exploration of clearer, simpler language for the pitch for capital (see more on this topic posted under writing & pitching).
Let’s consider the buzzword “social media.”
Social media: Here is another one of those collective words that means many things: it means the social networks (e.g., Linkedin, Facebook, MySpace) and also tends to include blogs, microblogs (Twitter and its Twitter tools) and various media sites (YouTube, iTunes) for sharing content across all media (video, music, webinars, etc.).
In my recent training on driving revenue through the use of social media sites and their tools, I have come to understand how small is the inner circle that can use these terms clearly. Step out of our circle of early adopters and developers into the larger (and older) world of finance or business, and we find most people have only vague awareness of the power of this new technology. In fact, they barely know which is what or how to use any of it.
So, when pitching outside of our tech savvy investors, we must define and clarify what each social networking site is and does, and its value, and which market it addresses, and how we will use each one to gain market share and return on investment for our business. In fact, soon we will need to include a clear marketing plan for how we will use the social networks, media and tools to drive our company’s valuation. So be prepared to discuss each of these slowly and carefully in your pitch.
For more details on this, see https://www.joeytamer.com/blog/category/social-media.
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