Are you ready for social media?
“Social media”, often identified as what keeps the young people busy on Facebook and Twitter, is becoming a buzz word among U.S. businesses. The term includes tools such as blogs, social search, social networking and bookmarking. Statistics show that 8 out of 10 companies—of all sizes—are using social media to promote themselves.
When used properly, social media is an effective tool for the business owner to reach untapped, potential customers and to stay connected to current customers. It doesn’t matter if your company is big or small because social media provides a level playing field that lets you compete with the big name brands.
So how does social media work, you ask? Buyers share information and opinions in peer conversations. Those consumers, who gain product knowledge from social media, then pass it along to others. The communications cycle, based on convenience, has both pros and cons. The upside is that sharing creates viral, exponential reach to the public and the downside is that negative conversations about a product or service go further. Large companies are likely to monitor social media commentary. Small and mid-sized businesses are more likely to respond with public rebuttals.
With the entrance of social media, your brand is no longer what you say it is. It’s what those social media participants say your brand is. Customers, prospects, journalists and others are having conversations—reviewing and talking—about your brand. They are forming and sharing opinions that will impact your brand.
How do you manage social media communications? Unfortunately there is no standard template for social media policy. Your company’s social media strategy and policy must be customized to your specific business situation. You have to be open to the good and the bad, but not the ugly.
If your business hasn’t made a move into social media yet, here are some factors to consider. What are the factors impacting social media that will be useful to you and your business? What are your resources? Make a list of all the social media channels that you or your staff have experience with, either personally or professionally. Be clear on your goals for your use of social media; the mere statement of “reaching out to people” is too vague.
Last of all, define your audience. Who do you want to reach and how will you use social media to reach them? Properly used, social media is a powerful tool, whether your business is a neighborhood hardware store or a multi-unit restaurant chain.
