If you own your own business and you have trouble understanding social media marketing, how to use it and what it can do for you, don’t fret. You are in good company. In fact, Google Executive Chairman Eric Schmidt said he failed to grasp the value of social media during his tenure. This might come as a surprise to you, but it shouldn’t. Don’t always assume that big business has the answer, even if the question has something to do with their business. Social media was a growing trend which somehow escaped the notice of just about everyone until it was living breathing dragon ready to devour everything in its path. Only then did many business owners wake up to what was going on and try (belatedly) to get on board.
“I clearly knew I had to do something and I failed to do it,” Schmidt said yesterday of his efforts to help the company excel in social media. “The CEO should take responsibility. I screwed up.” He was speaking at AllThingsD’s D9 Conference in Rancho Palos Verdes, California.
Google faces accelerating competition in online advertising from Facebook Inc., which has done a better job than rivals in helping users create profile pages and connect with friends online. Schmidt, who was CEO for a decade before handing the reins to Google co-founder Larry Page in April, said his company has been unable to forge an alliance with Facebook, the largest social network.
“We’ve tried very hard to partner with Facebook,” he said, noting that Facebook has built a partnership instead with Microsoft Corp. (MSFT) that includes search. “Facebook has done a number of things which I admire.”
Google, based in Mountain View, California, is working to improve its social features. In March, it announced a service called “+1’’ that lets Web users recommend content to friends directly from the company’s search-results pages.
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