A business expert told a Cornwall audience while social media has helped many companies expand and make millions, it can come with some pitfalls.
Dianne Buckner, who is used to dealing with some powerful egos as host of CBC's Dragon's Den, found herself before a more forgiving audience Tuesday as the keynote speaker to help kick off Bizfest 2012.
Buckner told the hundreds in attendance that social media, while a powerful business tool, remains a work in progress for many.
"For sure it is a great opportunity to engage your customers with your brand," she said. "But the experts are still wrestling with this."
Buckner, who was written on the subject of social media in online pieces posted on cbc.ca, said using social media to create connections with customers can be a slam dunk in some cases - and a complete miss.
Case in point, social media giant Facebook. Buckner pointed to the fact that Facebook has missed the boat thus far in being able to "monetize" its mobile application on tablets and cell phones. While users might like it, there's no advertising on Facebook mobile apps - which means the company is missing a lucrative revenue stream.
"It's still a bit of the wild west," she told those in attendance. "It's better suited to some than others.
"You don't just stick up a Facebook page and put some stuff on it."
Buckner urged audience members to sign up for a Twitter account if they haven't already and begin connecting with customers and friends.
"It can be a powerful tool to keep up on trends," she said. "It's a very rich resource. Plus you will start to get an idea about social media."
Bizfest continues Wednesday at the Ramada Inn with a variety of workshops.