Facebook,vs.,Twitter,Business, business, insurance Facebook vs. Twitter in Business

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What is the value ofFacebook over Twitter?  Is there adifference?  When do you use one or theother or both?  In writing our book, The New Handshake: Sales Meets Social Media,Barb Giamanco and I discovered that some businesses prefer Facebook, someprefer Twitter, and some use neither.  Wedecided to take a look at the two platforms to help you distinguish which isbest for you.As we’ve stated manytimes in the book, the ultimate decision about which social network to use lieswith your company culture, goals and target customer.  Nonetheless, it’s important to recognize thatyou cannot choose “none of the above” if you want to survive the new digitaleconomy.  Therefore, the question iswhich do we choose and how do we begin? This article will helpyou begin to distinguish between the value of Facebook for business and thevalue of Twitter for business. It helps to understandthe evolution of these two platforms to get an idea of what works best foreach.  Facebook began as a socialnetworking tool for college students. Launched in 2004 in response to MySpace (which linked young peopletogether throughout their high school years), Facebook targeted the studententering a college campus.  In the earlydays, it was a highly social network, similar to MySpace.Twitter, on the otherhand, began as a way for people to communicate fast and in short bites.  The founders had no idea that the platformwould take off the way it did.  Begun asa way to simply say to fellow workers, friends and colleagues what was on yourmind at any given moment, Twitter soon became a powerful communicationtool. Knowing how the twoplatforms began helps you understand the strengths of each and how you mightbest capitalize on those strengths. Both Facebook andTwitter effectively target the population of 35 and younger.  Facebook, however, currently boosts asignificant rise in the number of boomers using the platform.  As far as consumer use goes, however, forbusiness to consumer (B2C) purchases, the demographics are similar.  Both attract mid-to-older players, withhigher education and income.  Value of Facebook toBusiness:·        Primarily a social site.  On Facebook, youcan share as much or as little personal information as you’d like.  You can post photos of yourself and yourfamily or of your company and employees. Facebook gives you an opportunity to create a personal as well asprofessional profile of who you are. People learn more about you as a person. In sales we talk about the know,like, and trust factor before a sale is made.  Businesses that focus on other businesses(B2B) as clients understand this factor. Facebook gives you a great opportunity to let down some barriers andhelp your business customer learn more about you.·        Versatility.  Facebook allows you to set up a personalprofile, a professional profile, a business page or a fan page.  You have all kinds of choices for puttingyourself and your business in front of your customers.  People like to feel part of a business.  You can enable that by setting up a fan pagefor your business or for a unique product that you offer.·        Facebook ads.  For business, Facebook gives you theopportunity to purchase a pay-for-click ad to target a unique niche.   Value of Twitter·        Speed and real time.  Twitter’s biggest strength isits speed.  When you Tweet something, itgoes out to masses of people immediately and in the moment.  That is why it has become the world’s rovingreporter.  When things happen around theworld, Tweets start pouring in.  To get amessage out quickly to lots of people, Twitter reigns king.·        Information and Research.  On Twitter, you getfast information and links to blogs all the time.  If you are curious about what is happening inyour industry, Twitter will keep you up-to-date quickly.  If you’re curious about what people aresaying about your industry or your business, Twitter will tell you.·        Versatility of response.  Both Facebook andTwitter give you a versatility of response. You can respond to the entire population in Twitterville when you post aTweet.  On Facebook, your status updatesgo to all your friends.  People can seewhat you are up to or what is going on in your life all at once.  Both Twitter and Facebook give you the optionto send a private message that goes directly to that person.  On Twitter, however, messages are more publicthan they are on Facebook.  Wall posts onFacebook go to all your friends and all the friends whose wall you posted on.There are many morevalue differences between Twitter, Facebook and the other social networks.  Ultimately, you must look at each platformand decide how you can create a social media strategy for your business. The New Handshake will give you lots of tipsand ideas as well as a guide for creating a social media sales strategy foryour business.  Watch for its release inthe coming months.  Meantime, join us onour blog.