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Liquidate Your Likes: Turning Social Media Into Revenue

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TBI's Bryan ReynoldsBy Bryan Reynolds, Senior Manager, Post Sales, TBI and Channel Partners Advisory Board member  

More than five years of your life will be spent on social media. That’s almost two years longer than you’ll spend eating.

According to an article published by Adweek, the average person will spend that time – five years and four months, to be exact – on platforms including (but not limited to) Facebook, LinkedIn, Instagram and Twitter.

This makes perfect sense if you think about it: Social media has been around long enough to become ingrained in our everyday lives. It’s the first thing many of us check when we wake up, and the last thing we look at before falling asleep. It’s the main source of news for many people and an outlet to share their successes and shout their protests. Being a millennial in the channel, which straddles tech and interpersonal relationships, means I consider myself a social connoisseur of sorts. I’m certainly guilty of posting a selfie or two. It’s not only entertaining, it’s a way to involve others in every detail of our lives.

While five years is very significant, television still reigns as the ultimate “time suck,” taking up about seven years of our lives, and the current prices for advertising on that medium reflect that. The cost for a 30-second Super Bowl ad in 2018 was around $5 million (that’s $166,000 per second). However, with more “cord cutters” coming over the horizon, I would venture to say that advertising costs for television will go down, and since subscription streaming services just don’t carry the same advertising weight as a typical cable package does, companies, including the ones we work for and resell, will have to get creative in their advertising tactics. If you take into consideration research that suggests today’s typical teenager spends upward of nine hours per day (yes, you read that right) on social media, checking it more than 100 times a day, companies can’t ignore the fact that television advertisements are now the new classifieds. The higher ROI lies in social media.

Like it or not, these snap-crazed teenagers are the consumers of today’s and tomorrow’s goods and services, and you can bet anything they “consume” will be shared all over social media along with their opinions. If they have a bad experience, every one of their followers will know about it. This creates a PR wildfire that’s bad for businesses, highly difficult to control and capable of severely damaging a company’s reputation.

So, how does this relate to a channel partner?

Prediction: Social-media monitoring will soon become as necessary as bandwidth in every business practice.

The risks associated with social media breed opportunity for channel partners to sell solutions that control them. As stated, bad experiences will be on social media for the world to see and will be undeletable. However, the opportunity lies in …

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