I recently read excerpts from an article based on a book by Sherrie A. Madia,
PhD, the Director of Communications and External Affairs at the University of
Pennsylvania’s Wharton School of Business where she teaches Social Media and
Communication Strategies, entitled: “The
Social Media Survival Guide: Everything You Need to Know to Grow Your Business
Exponentially with Social Media.” She offered some creative ideas for small
business on how they can get the most out of their social networking options
and introduced strategies to make small businesses a success online.
She mentioned that the first step in using social media
effectively begins with asking yourself a familiar question: “What is my
objective?” She notes that when companies begin their social media campaigns
many companies are bypassing the basics.
You need to ask yourself: What are you looking to achieve? Who is your target audience? Where is your target audience? And of course, who are your competitors? She said that you should define your
objectives first and then create a social media plan. “The plan should include the scope of
networks you will launch with, along with a content strategy and a plan to
source this content.”
The author of the article asked Sherrie what skills one
should have to understand and leverage the best out of today’s existing social
media tools and applications. Sherrie
said that: “If you are a clear, succinct, personable communicator, your time is
now.” She mentioned that social media is
centered on authentic, value-driven content which is a very different model
that what many entrepreneurs are used to.
She also mentioned that: “Many businesses have sustained themselves on a
long-term diet of institution-speak, which simply doesn’t resonate with today’s
information consumers. The social media space is not the place for posers
or pretenders—it’s a space for a brand to create content starters designed to
engage consumers in genuine dialogue—this can be off putting to businesses, but
they should view this as an opportunity to create more meaningful relationships
by giving consumers a say and enabling audiences to help shape the brand’s
story.”
The author mentioned to Sherrie that social media
advertising campaigns take a lot of time and effort and wondered how one can
ensure that they are using smart, less time-consuming strategies for success.
Sherrie said that social media tends to mean different not more in the way of
content and effort. The benefit of the
web space is its interactive nature. “Whereas
in the past, companies found themselves locked into ad campaigns they knew were
less effective, today, businesses can react in real time to market effects, and tweak and
modify along the way.”
Sherrie also talked about the more inexpensive ways to advertise through
social networks and when to know when it is right to invest more in such an
avenue. She mentioned that the most
inexpensive forms of advertising are indeed free (with the exception of
time). Creating a blog, for example, is
a way to provide value to target audiences in the form of “expertise, content,
aggregation, industry insights and more.”
The goal is to generate content whereby users are interested in what you
are saying and in turn, supporting what your business has to offer. Sherrie also mentioned that Facebook ads are
another inexpensive means of advertising.
One of the most significant benefits of such ads is that companies can
target their ads to specific groups based on demographics, geographics and
areas of interest. As I’ve mentioned in
other blogs, companies can set a selected budget for Facebook advertising for
as low as $10 a day. “Based
on initial results, content, target audience or bid price can be adjusted to
optimize or can be turned off completely at any point along the way.”
The author of the article closed by asking Sherrie what some
tips were for readers as to how to use social media the right way in
business. Sherrie said that: “Many
businesses enter social media with the sense that because their
social-networking platforms took only moments to establish, that they should
see return with equal rapidity. In fact, like any other tactics, social
media takes hard work, creativity and time. The good news is that when done
right, the investment is not about the next sale, or the next follower—It’s
about the lifecycle of the consumer relationship with your brand. When we
think about the value proposition that social media offers—and the cost to
acquire a new customer or client—we can see the real value in ongoing,
meaningful conversation.”
Other articles I’ve read mention that social media is a
necessity as silence is no longer an option.
People are online talking about your company as you read this, whether
you like or not. If you don’t engage in the conversation, you risk losing
your customers. Many talked about
finding a social media manager (as is my responsibility for the company I
represent).
Post updates. It’s
important to have content on your social media sites before you start adding
friends and followers. “When you try to
find friends, they’re going to look at the page to see if they want to follow
you. So you need to give them a reason
to follow you first. Provide valuable
information about the industry. Post
pictures of your business or people enjoying your business.” Share links on your Facebook wall. Retweet stories on Twitter that are of
interest to your followers. Start group
discussions on LinkedIn.
Social media is the great market equalizer that allows small
businesses to compete with larger corporations.
“As a
freelancer, independent consultant or small business owner, you can use social
media to elevate your brand to actually compete with the major players.”
In a
report I read, 45% of people who've only invested 12 months or less in social
media marketing reported they gained new partnerships and said that by spending
as little six hours per week on social media efforts, 52% of marketers saw lead
generation benefits.
I hope I’ve shown you over the past few months that social media
is a must for any young entrepreneur starting out to grow and expand your brand
in the broader market place but it is important to do it the right way and use
social media to your advantage so that you can compete with larger companies.
Here are some articles you might want to check out to give you
better insight into what I have discussed today.
“How to use Social media to promote your small business”: http://www.forbes.com/sites/kymmcnicholas/2011/09/19/how-to-use-social-media-to-promote-your-small-business/
“Nine companies doing social media the right way and why’: http://www.socialmediaexaminer.com/9-companies-doing-social-media-right-and-why/
“The right way to use social media to extend your brand”: http://smallbusiness.foxbusiness.com/marketing-sales/2011/06/20/right-way-to-use-social-media-to-extend-your-brand/
Until next time…
social media tools for business and for advertising purposes is a lot cheaper and a lot more effective than using radio or television for advertising, but nonetheless they are also effective.
ReplyDeleteThis thinking mistakenly can extend to managerial development and the often critical time that a leader spends with an external coach. Because people are an even more critical asset during cut-back times (and we need to make even greater efforts to retain and motivate individuals as much as possible in these periods), external business coaches can play a leading role in supporting senior leaders in a time of greatest need.
ReplyDeletebusiness women
“…but they should view this as an opportunity to create more meaningful relationships by giving consumers a say and enabling audiences to help shape the brand’s story.”--- Using social media sites for our business allows us to get ideas from our consumers as well. Through platforms like Facebook, we’re able to hear opinions and feedback. You have the power to determine what approach is working efficiently and change those that are obstructive. This gives you the reason to develop better strategies for your business.
ReplyDeleteDarryl Tay