In my experience, it often takes years, rather than months, for a contact made through networking to lead to business. Therefore, since Twitter has only started to be widely used as a business networking tool for the last 6-9 months, it is much too soon to determine its ROI.

On the other hand, it is important for anyone using any of these sites to make sure they are making good use of their time and actually forming relationships rather than just having fun. (See my blog post, Social Networking and Productivity for more on this topic.

First, Chris, the study you quoted surveyed salespeople, not business owners. The ownership vs. commission(able) mentality had a major impact in approach, value of time, definition of success and other factors associated with the topic.

Second, I’m not sure that I buy that a 392 person study of salespeople is statistically significant, as there’s nothing in the abstract to indicate how much training these respondents had in strategically using social networking to build their relationships with clients. How savvy were these salespeople at social networking? How technically adept? Were they “bullhorning” about their business or investing the time in useful, meaningful professional conversation?

If you’ve ever been chatted up at a Chamber of Commerce luncheon by the stereotypical sales person, the drive-by-networkers who want to tell you all about themselves and don’t stop to find out whether you need, want or can afford what they have to offer (insurance, cards, pet apparel…), then you know that the amount and quality of training one has in sales, let alone in social networking, can have a profound effect upon levels of success.

Third, success depends exactly on the effort-to-profit ratio. I put relatively little effort into social networking (though I’m on Twitter for business, I use FB very little, mostly as a Twitter-repeater) and I don’t do much on LinkedIn or other sites except connect as appropriate. However, I’ve had huge gains from Twitter–clients, ebook sales, and most importantly, the growth of many strategic partnerships and media opportunities. A few friendly interactions which took less than 20 seconds of my time, each, brought me profiles and interviews on some major sites.

My anecdotal information works only as an example. The buzz and hype around social networking is as undeserved as it is/was about article marketing, newsletters, blogging, SEO, and yes, even referrals. Improperly used or underused, any marketing method can fail. Judiciously employed, however, each technique can build upon the next to yield a successful marketing plan that is neither labor- nor cost-intensive.

My two cents…

I’m not discounting your interpretation or opinion, Chris, but I think it’s important to qualify the answers from any survey, especially one with a small set of respondents who may have little in common with what we (or some) professionals do.

see study:
http://www.referralkey.com/small-business-blog/2009/04/13/study-finds-twitter-facebook-and-linkedin-are-not-helping-professionals-close-sales/

best,

Chris O.
Referral Key
“Your Trusted Referral Network”

I much prefer twitter to keep in touch with business contacts. FB is too much junk to sort through to get to the good stuff.

And Julie, I have you to thank for persuading me to join Twitter last summer. It took a while to understand how it works, but now I love it, especially the fact which you mentioned, that you don’t have to worry about reciprocity. If I want to follow an expert in one of my areas of interest, I can, whether or not he or she wants to connect with me. And if some overeager internet marketer wants to follow me, that’s okay too, because I don’t have to follow back!

Twitter, on the other hand, is streamlined. It’s ORGANIZED. I can be as sociable (up to 140 characters’ worth) or as quiet as I wish without fear of getting “poked”, and I need not even dither about whether I should be following people of whom I know nothing. I can get my message out to anyone who wants to hear it, and I can use it for work (it’s a great place to get advice) or play in short bursts.

I did a teleclass for Biana Babinsky last summer on time management for social networkers, and one of things I talked about was the balance between social networking from a “database” perspective (capturing contact information, like LinkedIn was, at the start) and a communications perspective, and how more and more sites were integrating the two functions. For me, I love that Twitter is primarily about communication, and there isn’t any (or at least, need not be any) worry over reciprocity. There are some whose messages I only read, some who apparently only read me, and a lovely set of people, like Janet, with whom I enjoy communicating. And I know she’ll never “poke” me or “throw a goat” at me, and I need not ever be faced with offerings for a “little green patch”.

I did enjoy connecting with groups and others on there, but like you, I still communicate by e-mail with most of the people I’m connected with there and if not there, we’re following each other on Twitter.

Since they restructured FB, I’ve been avoiding figuring it out. Again, like you, the things that did interest me are harder to find and I’m sure if I took some time to get reacquainted, I would find what I’m looking for.

I love Twitter! For me, Twitter is the best way to connect with people I know and people I”m interested in getting to know. It just seems easier and what’s that acronym? K.I.S.S. (A kinder version) Keep it simple sweetie!

Interesting post, Janet! I’m looking forward to what others have to say!