Welcome!
PART ONE of my overview to Social Media (SM) and businesses, touched on the impact SM can have on a business’s relationship with their customers and on their brand identity. In this concluding post, I’m looking at the need to select an appropriate Social Media platform for your business and for real success, write a Social Media Strategy.
I will be going into the topics covered in this introductory series in more depth in future posts. Please feel free to RSS my posts to keep up to date!
Have you chosen the appropriate Social Media platforms for your business?
Businesses new to Social Media are often overwhelmed by the different Social Media platforms that are available. Almost everyone has heard of Facebook, Twitter and YouTube. Some people will be familiar with other sites such as Bebo, LinkedIn and Digg. Business owners under pressure to get on board the Social Media bandwagon, open accounts with these Social Networks, post a few tweets or updates, and then somehow, lose momentum…
They’ve ended up in one or more of the following scenarios:
- they’re unconvinced by the ineffectiveness of Social Media as they lack an immediate and large following
- they find the ROI too low in terms of the time invested and lack of income generated
- they can’t keep up with the content stream necessary
- they only have the time to post only erratically
Whatever the reason for their unrealistic expectations, the experience leaves them disinclined to continue with Social Media as a tool to market their services and raise income.
What a pity…
These businesses have failed to do their necessary market research or business planning before embarking on the Social Media journey. Clearly, knowing which Social Media platforms your customers are using (and for what purpose) will inform your decisions on which content distribution formats to use (i.e. what networks you’ll use to dispense your message) and how to put together your promotional campaigns.
For example, research indicates that consumers favour Facebook for their main SM platform, followed by Twitter and YouTube. If your main sales approach is B2C (Business to Consumer) then it makes sense to concentrate your efforts on these sites. After all, this is where your potential and existing customers are likely to be.
LinkedIn is the leading professional networking site, followed by ecademy.com and if you are selling a B2B (Business to Business) product or service, these are relevant Social Networks where you can find your customer base.
Your own market research and analysis will tell you which Social Network (s) to pursue based on the profile of your target customer and the demographics of the Social Network concerned. Be aware that the etiquette and expectations of each Social Network (SN) are different and you need to understand them before attempting to promote or sell your services.
Assuming your messages resonate with your target audience and you appear on the right search results, you have the ability to promote and sell to a large amount of people (who are actively interested in your field).
In future posts, I’ll be looking at specific techniques of marketing and promoting your products and services on these different Social Networking platforms.
Create a Social Media Strategy that fits your business’ objectives
Given the importance and impact Social Media can have your business, it’s very clear that compiling a Social Media strategy should be your number one consideration. Many SMEs dip into Social Media without thinking ahead, find the experience too difficult or time-consuming , and pull out.
Setting out clear, achievable and measureable business objectives is essential – i.e. what do you want from your Social Media activity and how will you measure success – visitors to site? Units sold/places booked? Number of subscribers?
To draw in a community and maintain their interest, you’ll need to produce a steady stream of high-quality, entertaining, and relevant content. A business which “twitters”, and has a Facebook page or LinkedIn profile, will be able to direct visitors to their website where they can be led to follow a particular call to action or generate valuable feedback. However, this level of engagement takes effort to maintain.
While SM is often promoted as a no-cost, high-impact method of promoting and selling services, there is an actual cost in terms of time and effort. Short, regular bursts (little and often) work well. Build in the time for participating in Social Networking into your business operations. If necessary, outsource or make necessary staffing adjustments to support this regular output.
To keep track of their activities and to make the process more time-efficient, businesses use online tools that help them send out specific content to selected networks and even control the timing and frequency of the updates.
I will cover these aggregate services in future posts, but a few to consider are Hootsuite and Tweetdeck for twitter updates and as well as Mybloglog for blogs and Plugged.it (which describes itself as “a social network that’s for people who want to promote“).
Content is reproduced in various formats: written (blogs, web content, email marketing, twitter, Facebook special groups and pages, PDFs, eBooks, white papers), audio (narratives, teleseminars, web page commentaries and podcasts) and increasingly, video (it is becoming much easier to create affordable video blogs and video presentations. These add impact to your website and provide valuable information to your customers before they commit to your call to action).
Creating compelling content takes time, effort and for the multi-media options, money. Yet, if done well, the response from already active and interested customers can be impressive; a business that takes the time and trouble to anticipate and answer their customers’ questions, will enjoy a higher conversion rate than one that doesn’t.
Focus, Clarity, Direction…
For many SMEs and individuals, investing in your website and accompanying Social Media machinery is a real alternative to hiring a sales team to find and convert customers. The reach is greater, you can target messages to reflect your different types of customer, and marketing content can be revised and updated almost in real time without incurring extra costs.
Social Media provides businesses of all sizes the ability to build relationships with their customers and create a loyal following. It also allows you to reinforce the brand identify that you’ve created. With such obvious benefits, it’s important that you make the right decisions before making a start…
Avoid the scattergun, crisis-management approach and instead, exercise patience; do your research, be focused, and PLAN AHEAD. Successful businesses have simply recognised that Social Media is an integral part of their marketing mix. By amalgamating their offline and online strategies, they increase profile and impact. With appropriate planning, so can you.
Having introduced a few terms and concepts on Social Media, I will be adding further posts that will cover topics in a little more depth. I look forward to sharing your thoughts,
Sumi
Olson Sales & Marketing Services
http://www.olsonservices.co.uk
Twitter: @ sumiolson
alanlsg 11:57 on July 12, 2011 Permalink | Log in to Reply
Hi Sumi
Great blog and for sure change comes from action and if you do not like the result then more action until you get a result you are happy with and meets your expectations.
Inspiration, Application, Constancy, Consistency, Perseverance and some Perspiration is what I have always promoted as the Secret Sauce of Success.
To me KNOWLEDGE is the one thing that can be given away yet never diminishes but helps others grow.
Good luck with your work.
Kind regards
Alan
Sumi Olson 02:09 on August 5, 2011 Permalink | Log in to Reply
Thanks, Alan
Appeciate your thoughts and kind words – I completely agree with you!
Cheers,
Sumi