A couple months ago I came across a really interesting read in The New York Times that posed a thought provoking question: should every business invest in social media? My initial reaction was, of course! While the level of investment should definitely vary depending on an organization’s size, goals, and about a million other variables, social media has been a proven, powerful platform to engage with your target audiences, increase brand recognition and convey key messages. Based on those benefits, why wouldn’t you want to hop on the social media bandwagon? However, after reflecting on the question further, I started to think, does it really make sense for everyone.
The New York Times used a great example of an off-site airport parking lot that took great care to make their social media presence known. Really? Is social media necessary to boost the success of an airport parking lot? Before you automatically dive in to social media, The New York Times shares some common myths to help you better evaluate whether it’s worth the investment.
Myth 1: It’s Free Advertising -There’s a widely held perception that social media is free. But doing it right requires good strategy and an investment of staff time, giveaways and/or advertising to build and keep a following. Most small companies have limited budgets and should evaluate social media with the same rigor they would other marketing tools. Tending the social media garden takes lots of time. And, time is money, whether you do it yourself or pay someone to do it. It’s like saying it’s free to install your own kitchen cabinets. It’s not.
Myth 2: Every Business Should Invest in Social Media – All businesses can use more awareness, and social media can certainly help shore up customer loyalty. If your target audience is on Facebook and Twitter, you should be too. But, if you’re selling services people rarely need, is this a good investment? It sometimes surprises me when I see funeral homes on social media. Is this the kind of organization I really want to engage with? Do people have the time and energy to follow a company that’s not relevant to their daily lives?
Myth 3: Everyone Will Really Like Us – There are several organizational Facebook pages where companies really beseech others to “like” them. This can make consumers question the company and why they should consider a relationship with them. Most people have only a few moments to engage with a brand each day on the social web. Reward them by making it a positive part of their day to help drive people to your page and keep them engaged. It’s essential to offer something of value. This could be coupons, freebies, contests, specials or articles of interest. Also remember that consumers also have a personal brand to maintain and every company someone “likes” on Facebook or “follows” on Twitter is out there for their universe to see. For example, at Communiqué PR, we often “like” our clients or new business prospects to show our support. However, ever since a colleague “liked” a potential client that happens to be in the fertility business, she’s been fielding all sorts of questions from friends and family on whether she’s trying for a baby.
Even though it seems as though everyone’s hopped on the social media train (and primarily for good reason), don’t climb aboard solely because everyone else is doing it. Make sure to thoroughly consider whether the investment can truly help your business and whether you have the time and resources to invest in a truly effective way.