Agoracom – Building Community with Social Media

AIMS blog correspondent Brian Moran recently sat down with George Tsiolis, President of Agoracom, an investor relations firm that is using podcasting, blogs and social marketing tools to help deliver information about small cap companies (relatively small companies that are listed on stock exchanges) to potential investors who may want to invest in these companies. A timely interview considering our Should Your Company Be Podcasting event is later this week!

BM: What exactly is Agoracom?

GT: Agoracom (www.agoracom.com) is an online community that focuses on helping investors learn more about small cap companies they may want to invest in.

Through the use of dedicated communities, Webcasting, podcasting and other Web 2.0 tools, we fill the information void created by the lack of small cap coverage in the financial media.

BM: When did you start Agoracom?

GT: In 1995, I stated posting messages to stock discussion boards. I researched companies and put a lot of effort into my postings. People started emailing me and asking me for advice. I started receiving about 100 emails every day.

I received so many emails that I though it was a perfect opportunity to start an investment newsletter. And in February 1996, that’s what I did.

Soon public companies were calling me and asking if I could mention them in my newsletter. I thought why not start an Investor relations firm? I launched Agoracom soon after that.

BM: Why did you decide to use social marketing for investor relations?

GT: Web 2.0 applied to investor relations is extremely powerful. For example, a standard news release has the material facts and contact information. However, a news release in Web 2.0 enables readers to communicate, to comment and hear from others who want to discuss the news release.

It’s a perfect way to build community and for people to mesh online. Building community – that is what social marketing is all about.

BM: Tell me how you’re using podcasting to build community.

GT: Podcasting gives companies the opportunity to add insight and depth to a news release. It expands the relevance of the news release and enables people to comment on what they read and what they hear.

I know its working because investors who have more information about a company are more likely to stay as shareholders. I see that all the time.

BM: Given the power of social marketing, why do you think other companies have not incorporated it into their communications strategy?

GT: There’s a bit of a bottleneck right now. People don’t fully understand social marketing, its power and how to apply it in their communication plans.

I think right now there is real opportunity for companies and individuals who can help demystify social marketing and add it to their marketing and communication efforts.

Agoracom and other innovative companies are doing just that right now. And I think the rest of the world is eager to join the party.

BM: Any advice for people who want to persuade their managers to adopt social marketing into their marketing mix?

GT: Start with a one-page proposal. Focus on one thing – be it blogging, podcasting or Google ads – and how it can contribute to the bottom line.

Demonstrate how your company can make money by incorporating social marketing into their communication strategy and explain how they can do it. Feel free to use Agoracom as a real-world example.