I think you hit the nail on the head with the 3 C's and they should make a "light bulb" appear above the decision maker's head when considering social media as a marketing tool.

I noticed the 3 C's also are in order: First, you have to create some kind of meaningful conversation--that then leads to community. The trust built in the community (via conversations and connections) leads to conversion.

Talk about the right way to do business: let people talk to each other and then connect in a meaningful way before trying to sell something.

I love it.

I usually include "Content" in the mix, as marketers are wise to provide valuable content in order to gain respect from consumers.

Thanks Mark. I follow you on Twitter (@mjcarter) and you always have something wise to say. Korye - you identified the first C without which there can be no others! Thank you for building on this thread.

Sima - Good post. I think a key element to any social media strategy is to publish good content. So, I would add another "

I'm very interested in this topic, Sima.3Cs... My results are apparent in Google Analytics. Twitter is among my top traffic sources. I get referrals from Facebook as well. I have only been working the 'social media' for a couple months, and I look forward to seeing more results.

Sometimes it blows my mind how business is generated through Twitter, but it happens. I have even picked up clients through Facebook. Crazy. However, in the end I always say... nothing beats a handshake. If you get that lead from working your social networks, and you are exited about the work (and they are excited about yours)... be sure to request an in-person meeting.

Thank you for sharing.

Really great start here…
I’d suggest adding Content to this list (as Korye mentioned above). As a cornerstone for your conversation, content can illustrate the value of your product/service and will enable you to develop the influence you need to accomplish conversion within (and possibly outside) of you community…
I’d also add Creativity (or innovation). Doing the same things as everyone else will get you “at par” results and your viral exposure is limited…the more creative you can be in your approach to social media/networking the more viral your efforts could become and the great the ROI could be…

One other thought – from everything I’ve seen/researched/observed, social media monetization (currently, while still in infancy) lends itself to a B2C business model much more so than to a B2B model…

Wow, great comments from Chris Galvin and Robert Seres. It's so often true that B2B marketers need a little more time to make any new tool or tactic work for them as well as our B2C counterparts. But with smart people like you chipping away at it I've no doubt it won't be long!

I wonder still yet how it applies to B2C for service providers though....

I wonder still yet how it applies to B2C for service providers though....

Tracy, what service does your company provide? Maybe we can give you some concrete examples or generate some new ideas. Just brainstorming out lout for a moment, let's say you were Merry Maids. You might start a blog on tips to remove tough stains, share those tips on Twitter, create a Fan Page on Facebook (and stream your blog posts there too) and invite prospects and customers alike to share tips they've picked up over the years... Best part it, all these tools are free save for your time!