Do you have an easy means of reminding yourself of what social media is about? There are so many posts on this subject.

I’ve decided to summarize it so you can easily remember it for your business purposes.

Social media is about L.I.F.E. with your prospects on social sites.

Now, let’s define what L.I.F.E. means in social media. I’ll show you what each letter means; of course, starting with L and ending with E.

• ‘L’ is for Listening: Your prospects are out there. Are you listening to them? You can use these any of these social media listening tools: 10 tools for listening in social media.

• ‘I’ is for Innovating: What’s your unique feature? Have you blended that into your social media strategy? Innovation sparks interest. Here is a resource article for innovation: Using social media to drive business innovation: insights from Guy Kawasaki and Target’s Michael Axelin

• ‘F’ is for Friending: Friending means building relationships. You’ve earned some prospects (fans or followers) so the next thing to do is invest in them. Chris Brogan shared some tips on this: Deepen Your Networks.

• ‘E’ is for Engaging: Start conversations about your brand. Join conversations concerning your brand. Be present wherever your brand is being talked about. Kyle Lacy wrote a great article about how to engage: 20 Ways to Engage Contacts in Social Media.

In summary, social media is about Listening, Innovating, Friending and Engaging with your prospects.

Next time you want to remember what social media is all about, think, L.I.F.E. The meaning will let you draft a better social media strategy.