For some reason social media for business is still in question as a marketing tool. Sometimes… I feel like I’m beating a dead horse here. Individuals are still not sure whether it’s truly worth the time. Their not sure if it will actually yield desired results. However, if you are anything like me… you don’t yearn for success… you expect it. That being said social media (if used correctly) can match your expectations with little exception.
For starters, do not be scared of social media. It may bark but it will not bite. It may bite depending on where your judgement is being placed. From a marketing perspective you can look at both systems as being either negative or positive. I would like to think we are passed the point of talking about ignoring.
Although you may not understand every nuance… do not live in fear of it. The only way to conquer any fear is to face it. Therefore, learn about it. See what you can do with it and what will work for you or your company. Here’s some stats to back this up from the blog Why Executives HATE Social Media (which I also recommend reading).
- In the last 7 years, Internet usage has increased 70% PER YEAR. Spending for digital advertising this year will be more than $25 billion and surpass print advertising spending (forever)
- Lenovo has experienced a 20% reduction in activity to their call center since they launched their community website for customers
- Blendtec quintupled sales with its “Will it Blend” series on YouTube
- Only 18% of traditional TV campaigns generate a positive ROI
- Dell has already made over $7 million in sales via Twitter
- 37% of Generation Y heard about the Ford Fiesta via social media BEFORE its launch in the US and currently 25% of Ford’s marketing budget is spent on digital/social media
(Sources for Statistics: meyersreport.com lenovosocial.com George Wright Blendtec Mashable.com econsultancy.com businessweek.com )
Social Media has clearly made it’s mark on industries all over the world. When questioning if it’s worth the time… quickly note that Facebook alone has 500 million users not to mention Twitter is becoming a rapidly growing source for news and insight into companies and customer interaction. When people are talking it is extremely important that you are listening as a brand. Social Media offers unsolicited feedback. By simply setting up a Twitter account for your company, department or personal brand you can receive instant and honest opinions from customers you’ve never interacted with before. The opportunity for you to cater to the needs of the customer outweigh the time spent. Customers are not dismissible. They are the fuel that keeps your company running. Therefore, time needs to be spent finding how to offer them better service and where you can improve. This is only one aspect of the many reasons why Social Media is not a waste of time.
If your unsure of Social Media in terms of results then feel free to source the statistics from above. The tool may not launch your company into a whole new tax bracket but what it will do is create relationships. A business does not exist without relationships and without these relationships there are no tangible results.. In order to have a successful experience on social networking sites one must remember to be authentic, responsive and engaged.
If your still unsure on whether or not to implement Social Media then expect to get lost in the noise. In order to stay relevant one must stay current. Social Media may not be the answer to all your problems but if anything it will bridge the gap between the corporation and its consumers. That alone should offer value enough.
A surprisingly arms-length-away approach to explain the why's by Kyle this morning made me happy. One might expect a lesser person to tie in a pitch for why you should sign on the dotted line with them. Not my friend Kyle — of which his services were never tied into the pitch. Excellent post and it really just scrape away all of the fluff and show the bare bones of social media and it's importance. Build relationships.
Kyle writes: "For starters, do not be scared of social media. It may bark but it will not bite."
Let's be perfectly clear. You should be scared. This new phenomenon will bark and bite. Social media has tremendous power, including the ability to damage sales, destroy brands, and wreck careers.
As I explained over two years ago in Truth in Unplanned Advertising, social media can get you fired.
Furthermore, social media might cost you $180MM in revenue if you're an airline that breaks guitars. It might wreck your reputation as a celebrity. It could force you to change tactics as thousands are rallied against you.
So, yes, you should be scared of social media. That's because social media is ultimately about truth. Truth is a currency that organizations barely had to trade in back in the days where the only media was mass media. You can keep secrets, cover up mistakes, take part in shady or illegal practices when you have control over who hears the truth. If your business or your life depends on being even slightly opaque, then social media will eventually destroy you.
However, if you've been focusing all along on earnestly and honestly connecting with customers, this is your time. You can make mistakes and come clean. You can engage with people as individuals. In the era of social media, your humanity is now an advantage.
Social media is only scary for people who are used to having some control over the media. Be afraid, or change your perspective. It's time to evolve or be left behind.
Gotta agree with Mr. Robby. Social media is scary, but so is business. What's scarier are businesses that think it's irrelevant or merely a fad. I wish those geniuses were in our vertical.
Thanks for the comment Robby. I have revised my blog post to focus on more of what I was trying to accomplish.
I'm still backing the thought that this is one of the main reasons you need an internal policy.. fyi.
I think we are past the point of thinking this is a fad. Fad talk happened 3 years ago. At almost 550 million people… Facebook is not a fad… everyone realizes this.
I don't understand what you want to police regarding social media. Do you want to have rules about what people should and should not say? Do you want to create lists of approved networks? Do you want establish specific protocols for responding to certain kinds of messages?
The reason social media is so powerful is because it defies policy. People have always been talking about the things the love and hate in social settings. Today, however, that social setting is instantaneous and world wide. Trying to police it is like trying to cut water with a knife.
Maybe we should meet for bbq chicken and resolve our differences?
Sounds like a tasty plan. We can duel calendars at Blog Indiana 2010.
[...] Social Media is NOT Scary. Read the Stats. (kylelacy.com) [...]
Good post. Your statistics are right on. Thanks for doing your homework. The rest of us will benefit. Best wishes to you.
Margo Rose @HRMargo http://hrmargo.com http://linkedin.com/in/margorose
Love it. From a web marketing perspective this is totally golden info. From an English major (see: huge nerd) perspective, the use of "your" and "their" is keeping me awake at night.