Tweeting? Well that's just kids' stuff....right?

Think social media is just for gossipy teenagers and procrastinating college students? Why would any self-respecting person or company want to get involved in the world of Web 2.0 and constant “status updates?” Social media has come a long way from finding your old college roommate or chatting about what you did last Saturday. It’s bringing millions of companies, business professionals, clients, and prospective clients together at a rate that would’ve been unprecedented even five years ago.

So what is it about social media that appeals to entrepreneurs and customers, and how can that benefit you?

When a company engages in the arena of social media (blogging, Facebook, Twitter, LinkedIn, YouTube, etc.) it gives them a transparency that makes consumers feel more at ease. Being able to read the rapid-fire thoughts of a CEO makes your “Average Joe” feel a bit enlightened and empowered. Naturally they begin to feel a familiarity, which can translate into more dollars spent with the company, and greater word-of-mouth advertising as well. Although Peter Kempf is new to the world of social media, he "recognize[s] the importance of branding yourself online and forming realationships with the people you are connecting with on various social sites." In addition, when you pose questions to your audience, you can get responses that positively impact your product/service in a way that translates to greater success for you.

In an interview with Matt Haber of Portfolio.com, Kodak’s CMO Jeffrey Hayzlett (who has fully embraced social media and boasts over 12,000 Twitter followers) notes that he lives by “the 4 E’s” when he’s online:

“Engagement with our customers and community.”

“Education. It helps to educate our users and us.”

"Excite. Exciting people about the products.”

"Evangelize. Make people brand ambassadors for you."

In addition to Hayzlett, other corporate leaders are jumping into the game with positive results. They include Sun Microsystems president and CEO Jonathan Schwartz, Dallas Mavericks owner and HDNet chairman Mark Cuban, Best Buy chief marketing officer Barry Judge, and senior vice president of MTV 360 Development and Productions Ross Martin, just to name a few.

Although it is vital to create a personal, conversational tone while “tweeting,” it isn’t necessary to always update your followers on what airport you are waiting at or when your next meeting is. A perfect example of this is Dell (@DellOutlet), which offers Twitter-exclusive discounts and managed to generate $1 million in Twitter-based revenue within just 6 months.  They have currently reached almost 1.5 million followers and Stefanie Nelson (who oversees the account) interacts professionally and personally with those who contact her via “@ replies.” The key here is that you can actually follow her conversations with clients, and get a sense of trust and comfort in her approach. In the vein of good customer service, Best Buy has created a Twitter page (@Twelpforce) simply for providing customer support and tech advice.

Clearly "Big Business" can benefit from social media networking, but can it tarnish the imagine of a luxury brand? Peter Kempf International certainly doesn't think so, and has decided to utilize these avenues from the beginning, rather than adjusting to them later like many other luxury companies. PKI is certainly not alone though. The world of luxury brands has now expanded to Twitter, and other social media outlets, as well. Gucci, Louis Vuitton, and NET-A-PORTER.COM boast substantial followings; additionally, Tiffany & Co. has an official Facebook fan page on the verge of having 200,000 fans. In an interview with the LA Times, Ritz Carlton’s president and COO Simon Cooper explains his decision to bring himself and his line of luxury hotels to the “Twitterverse,” “The demographics of our guests are multi-generational, multi-national and multi-cultural and social networking is the new tipping point for the formulation of opinion for them all. Sites such as Twitter and Facebook give us the platform to engage in transparent conversation with millions of people.”

It should be noted that many large companies have at least one person, and in many cases entire teams of people, who are in charge of all social media accounts and how the brand is being represented online. Companies are clearly seeing enough value in Web 2.0 strategies to give out salaries for “tweeting.”

Still feeling a little uncomfortable by the loose and casual format of Twitter and Facebook? Good news-there’s a social site frequented by a similar profile of people as those who read the Wall Street Journal. LinkedIn was co-founded by Reid Hoffman to be a place for business professionals to network and problem solve. Even the ubiquitous Sarah Palin has a profile on the site, detailing her resume and educational experience. Even though Hoffman is the CEO of the site, he explained to Charlie Rose in a March 2009 interview that he uses the site to problem-solve as well. Recently he posed a question on the site as to where he should set up the company’s European headquarters, and received 20 emails right away; many posing ideas to problems that he hadn’t even thought of.

There are also sites just for the elite. Sites like LanguageofLuxury.com and ASmallWorld (www.asw.com) cater to professionals at the highest levels of wealth and prestige.  Language of Luxury “is the only luxury real estate professional-social networking community that unites members across multiple social networking platforms through a Professional Development Resource & Media Center.” Although LOL caters to the elite, it’s still a public site. ASmallWorld takes it to the next level. They describe themselves as “the world’s leading private online community that captures an existing international network of people who are connected by three degrees of separation.” You can’t just hop on a create a profile, you have to be personally invited.

Clearly, online social networking isn’t just a fad, and it’s not going away anytime soon. In order to tap into new revenue streams and expand your customer base, you need to engage in social media. Peter Kempf International is embracing all that these sites have to offer and has a permanent Director of Media Relations dedicated to online networking.