Is Social Media Marketing Right for your Company?
We were introduced to Linda Hughes via Twitter. She is a regular participant in our #ClassDiscussion every Monday and the CEO/Founder of the Entrepreneur Community Online (ECO) - an online group that connects entrepreneurs/small businesses to success one Main Street at a time. ECO teaches entrepreneurs/small businesses how to make the online connections to those that they need to know to succeed. We’re glad to have met Linda, and it was a no brainer to ask her to contribute to the iB blog! Take it away Linda!
How do you know if a company should embrace social media? Do you think all companies need to? Does the company need customers? Not as ridiculous a question as you might think.
What if you are a startup, with an idea that can only be expressed after signed NDA’s? You don’t need to be engaged in social media marketing to attract customers just yet. Or do you?
In this case, you would be interested in developing relationships with investors. Are they on social media? You bet - in droves.
So, what if you need customers? Are they on social media? How do you find them? What do you say to them, how do you say it, how does this conversation turn into a sale?
Great questions, and ones that should be asked/answered well before you sign on to any social media account. In other words, have a plan - a strategy, with well thought out tactics/goals/mile markers.
Part of this plan, and one of the most important questions for any company to consider is the time/money factor. It is true that most social media platforms are free to join. However, they are not without cost. You will pay in time. If your marketing budget is zero, you are the only employee, and you decide to use social media as part of your marketing plan, you will be the one paying the time. If you are not willing to put in this time on a consistent, regular basis, then do something else. A half baked, inconsistent social media marketing plan is worse than not having one at all and will get you the same results.
How do you know if it will be worth the time spent? How do you know if you will get your return on investment? You don’t. Anymore than you know if passing fliers out in a parking lot at a mall will get you customers. The difference is that you can do social media marketing in your bedroom in your bathrobe drinking a beer at the end of the day… every day.
However, there are very specific techniques to measure your chances of success before you begin. These techniques are among the things taught to the subscribers of my social media platform for entrepreneurs/small businesses.
As your plan progresses, as you become successful at it, you can then afford to outsource some or all of it. Now you are paying someone else to put in that time.
And what about that? How do you make sure that your contractor or employee is not just playing and wasting your money/time? How can you cap their involvement? You can’t. Get over it. Social media is social - that is the point. Without those seemingly, meaningless conversations, you will not have a viable presence. Using social media marketing means meeting, greeting, building a relationship with another - one conversation at a time. Same type of thing is done when you allow your employees to attend the networking meetings. They are not spending that whole entire time spouting company lines. They are joking, laughing, enjoying time spent with their pals that they meet once a week. Oh, and by the way, one of them just landed that juicy plum contract by doing so. So, why get all crazy about the fact that they are enjoying reading their tweets or status updating on the Facebook page? Instead of trying to catch them in the act, spend your time inspiring them to care about the success of the company, of which they are valued members.
Do you use Twitter, Facebook, linkedin? What about YouTube, Flickr, Digg, Stumbleupon, or the 158 other social bookmarks. Where do you start, where do you go, it is all so overwhelming!
Remember, you start with a plan - a strategy/tactics/goals/mile markers. First, answer these questions:
- What do you hope to accomplish with social media marketing?
- Who are you wanting to attract by using this process?
- Are they on social media?
- Which ones?
And I guarantee that they will be on one of them, some of them or all of them.
Social media marketing is only one strand of your marketing plan. Do NOT put all your eggs in this basket. As part of your strategy session, consider all of the other types of marketing that you will still need to do to be effective and get the results you want. And don’t wait to create this marketing plan until you need it. Any marketing plan takes 6 months to a year to show results, social media included. Start today or start tomorrow, but, you will still have to start.
My final point is that every adult on the planet should have a strong, current, active online presence. Every one, no matter where they are or what they do. Part of that online presence is to have a social media persona. Companies are composed of adults. Therefore, every company needs to be involved in social media at some level.
Thank you, Linda! You can find out more about Linda and ECO HERE.
Cool! Thank you!
I agree with every word. Being part of ECO for 6 month now, and starting from zero presence on social media, I can say under Linda’s guiding my social media presence brought great results for myself and our business.