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Why Social Media is NOT the Magical Cure to Bottom Line Illness

Nov/Thu | Category: theIdeas | 

We’d all love to believe that there is a magic cure to these tough economic times and some will even sell you on the idea that social media is just that when it comes to making your bottom line healthier.

They are lying.

We know, we know, it’s hard to give up the dream.  We all want to believe there is a magical get rich quick scheme that will allow us to retire by the end of the year.  I’m definitely on board with that concept.  However, the only people that’s likely to happen for are those that make a fortune off of selling you on the idea that social media is your magical solution.

So, let’s establish something first and foremost – SOCIAL MEDIA IS A TOOL IT IS NOT A STRATEGY.

If your objective reads “Build a Facebook Page” or “Tweet daily” then you’ve failed.  Not because these are bad things to do necessarily but because your not thinking about the PURPOSE of doing them.

Our suggestion:  start over. Clear the slate and ask yourself the following questions:

  • Who are the audiences interested in my brand/product/service?
  • How are our relationships with those audiences now?
  • How can we improve those relationships?
  • What is the benefit of an improved relationship to both us and to them?
  • How can we use the new media tools to add to our business objectives?

One of our favorite Social Media minds, Jason Falls from Social Media Explorer had a great post today on the components of successful social media strategy and shared this great diagram:

 

We completely agree with this diagram and post and would add to this saying that these are the same things that also can be looked at from a higher level and create a great marketing strategy overall.  Basically, know your business and what differentiates it, know who you want to reach, know how to reach them and know how to encourage them to do what you want when you reach them.

So, back to the lesson – to succeed, you can’t think of social media, or any marketing technique, as a “quick fix.”  To be effective you have to ALWAYS START WITH STRATEGY and think about how you’re going to use all these tools and tactics to accomplish your business objectives.

Once you’ve thought about your overall goals and objectives, drill down into how all of these tools can be used to accomplish those objectives taking into account how your customers use these mediums.  Create an overall strategy for your social media efforts that fits in and integrates with all of the other efforts you are putting forth.  THEN begin to think through the tactical applications for each medium you plan to use.

Now you’re ready to go.  It’s not going to happen overnight.  It will take time, commitment, perseverance but this strategy you’ve created will keep you on course and focused on having an EFFECTIVE and MEANINGFUL presence on social networks.

In subsequent posts we’re going to explore each stage of this process in-depth from writing the strategy through identifying the best players in your organization to implement your strategy all the way down to how you actually set up networks – step by step.  So, subscribe to our blog, follow us on Twitter or become a fan on Facebook – whichever works best for you – and stay updated as we share more information and ideas you can use.

 

Category: theIdeas

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