To use social media or not? This is a question virtually all firms (small & large, public & private) in all industries should be asking themselves, and if they are not, they better start.
Flashback 10 years (web 1.0) ago and this question would not even had been an after thought, as many of the top social media applications did not even exist, or were barely in their infancy. That said, some people/firms did see the advantages and effectiveness of what social media channels, namely Facebook, YouTube, and more recently Twitter, have to offer, enabling the competitive advantage of a having a head start. The numbers alone on Facebook, Twitter, and Youtube were/are hard to ignore, even 5 or so years ago.
Now, in 2014, or web 2.0 as they say, the numbers are impossible to ignore, where YouTube now gets over 1 billion unique visits a month and 100 hours of video uploaded per minute! Facebook has well over 168 million unique visitors per month. Twitter has over 48 million unique visitors per month. LinkedIn (my favorite) is now at over 38 million unique visitors per month. Pinterest now has over 38 million unique visitors per month as well. Tumblr is now at over 24 million unique visitors per month. Instagram has well over 200 million unique visitors per month. Google+ now has over 105 million unique visitors per month. There are countless other social media platforms out there, with new ones popping up everyday, however, many do not last, nor are worth spending valuable time and money on. That said, the above are all well established social media sites, I did leave out Vine, which can be considered as a viable option as well, but not one for the majority of people/companies reading this post.
OK, so we know there are billions of people across the globe scouring the aforementioned social media sites, so which one(s) do you use? Yes, it can be overwhelming when sifting through the various options social media has to offer, and they all have their own unique functionalities, audiences, communication techniques, etc. For instance, not everyone that has a Facebook account will have a Twitter account; or someone that's on YouTube and Instagram may not use Pinterest, etc. Therefore, a company must decide which social media platforms are the best options for their company and industry.
Choosing the right social media platform(s):
First of all, a business owner/marketing manager must ask the important/critical questions: Which social media platform(s) will garner the highest ROI? What social media applications are my target audience(s) using at this moment? What is the best way for the firm to go about courting new potential consumers? What type of product(s)/service(s) does your company sell/offer? What are the most effective communication techniques to apply on each individual platform? How much time/resources do we have to allocate towards social media? Etc.
Once the target social media platform(s) has been identified, then, and only then, should a strategy be developed. But first, the business owner/marketing manager must become accustomed to the functionalities and nuances of the platform(s), and if they are not they should (must) find and hire someone that is well versed in social/digital marketing. Some companies can get away with hiring social media interns as this is was common place a few years back; however, I would not recommend this as many times these interns will lack the awareness and knowledge of your industry and by the time they learn and understand it they will be long-gone; or they only make it a week or two and then you have to find another. This process alone can prove to be quite costly, not to mention wasting your valuable time. Nowadays, many colleges and universities are providing majors in social media/digital marketing, or at the very least, are incorporating social media/digital marketing classes into their Marketing programs. I know when I was pursuing my MBA (as a Marketing major) at Northeastern University, we were required to take a digital marketing class, which proved to be extremely valuable. As I stated above, all the social media platforms have their own ways of connecting and communicating, and not understanding this will result in a huge waist of time and more than likely - capital.
Moving forward, now you (or someone that does) have a firm understanding of which social media platforms work best for your company and the industry you are competing in. Furthermore, you have analyzed and done some research on how they function and the nuances of how to communicate. It is a great idea to checkout your direct competitors to see what they are doing (as far as content) and how they are gaining followers (potential customers), and which social media platforms they are using. Usually this is a good indication of which ones work best, particularly if you pay attention to industry leaders that have a large number of followers and likes/shares. Now it is time to develop an Integrated Marketing Campaign/Strategy, which is an entire different topic, and should be done by a trained professional or under the consultation thereof.
To Social Media or Not:
So the question is, to social media or not? Considering the alternative, I'd say it is not only wise to begin (if you have not yet) implementing a social media campaign (even if it's just an individual platform), but also is necessary if you plan on growing your business, increasing brand awareness and market penetration now and well into the future. Not to mention the fact that social media is a great and affordable way to be creative and brand your company to your liking. That said, if you are clueless as to how to utilize social media, or do not believe it is effective, I would recommend speaking with a marketing professional(s), researching online blogs, articles, competitors, etc., prior to allocating time during your work day to figure it out or "play around" as it can be extremely time consuming - hours could go bye before you even realize how to post a proper "Tweet". In closing, I believe social media, when utilized properly, with an effective Marketing Strategy, is the most efficient and effective marketing tool to be implemented to date. And as time goes bye this "web 2.0" is only going to grow exponentially, so to answer the question - YES, you should start using social media and get connected to your customers ASAP.
I'd love to hear your thoughts on this, so please do not hesitate to leave comments - I'll read them all!
PS - If you would like consultation on the implementation of social media and Marketing Strategies, feel free to email me at: modernbizstrategy@gmail.com.
Cheers,
ModernManTellsAll
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