Are you an eavesdropper? When you are out in public places do you listen to the conversations going on around you? Whether you are sitting in a coffee shop, having ale at your favorite pub or sitting in coach flying to LA, the question will come around, what do you do? You answer. If you’re a banker, lawyer, school teacher, you explain where and what you do. Something triggers that question. Maybe you’re wearing a uniform, a company branded shirt, reading your industry related magazine; something generates the question. Maybe you’re talking with a colleague about your new product line, an intriguing project, or upcoming company event; it’s the conversation that perks the attention of the person next to you. Did you ask them to listen to your conversation? No. Are you in a public space? Yes. Is it a social environment? Yes.

Social media is like conversations in a global coffee shop. If you are on Facebook or on Twitter, you are listening in on the conversation. Has someone on Facebook or Twitter ever helped you find a store, locate a bank or given you technical advice? Have you returned the favor? Did you send them a thank you note? Did you stay in contact with that person? Why not? Why wouldn’t you look to pay it forward?

Imagine if you could listen to the conversations that are about what you are interested in while turning down the volume on all the other unrelated voices. Current estimates show Twitter alone has 14 to 19 million users, and that number is growing every day. That is a bunch of conversations! The ability to chime in to just one topic is a powerful capability. Harnessing that information can provide valuable insight to companies and individuals. Tools like Tweetdeck and Seesmic are free applications that will allow you to key in on multiple topics and feed the results right to your desktop.

Search is probably the fastest growing segment of web technology today. Look at the huge success of Google; everyone is searching for something. Not everyone who searches is lost. With so many people looking, now is the time to invest in becoming an expert guide in your field of service or product line. Don’t try to be the one size fits all solution. The niche guides are the winners in this game. How do you know if you qualify as an expert? One benchmark is 10,000 hours of experience. Check out Malcolm Gladwell’s recent book Outliers for more on the 10,000 hour benchmark.

As a business in today’s digital media landscape, it is essential to have your ears open. If you haven’t dedicated a portion of your time and resources to social media, please consider it. Every Fortune 500 company spends at least 20% of its resources on research and development. Take three 15 minute breaks in your day and follow a conversation or two on Twitter. I recommend taking notes along the way. After a week of following conversations, compile a report of your findings and present that to your manager/owner. You have nothing to lose and everything to gain. There is a global conversation about your business. Are you listening?

Art of listening in Social Media

Art of listening in Social Media

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