Social Media: a Waste of Your Company’s Time?

By Polly Traylor

There's a wealth of content on the Web about how to maximize your social media presence and gain the most from this exciting new media. But wait: should your business spend much time on social media in the first place? For small companies, the ROI can be tricky. You probably have a small marketing staff, and it's unlikely you can dedicate even one person to a social media program. Despite popular messaging from social media pros on the ease-of-use and affordability of social media, it's actually a time-consuming and increasingly complex marketing vehicle. If you want results, you'll need to spend time on quality content, regular updates, community interaction and integration of your social media pages with SEO and overall marketing strategies. You've also got to keep pace with new features and privacy issues of top social media channels. Can you justify the time?

The first determination is whether your customers are hanging out on social media -- and on which sites. Do your targets regularly use social media for researching products and services in your space? If you're not sure, you'd better find out.

Secondly, you need a distinct plan and a strategy. Most marketing experts don't advise ad-hoc social media posting. How will social media fit into your overall marketing program?

Thirdly, you have to measure social media marketing efforts regularly. This is usually not expensive -- but it does take time and diligence.

Recently, I wrote an article for Business on Main, a Sprint-sponsored community for small businesses on the MSN network: "Are You Wasting Your Time on Facebook and Twitter?”. The story was an attempt to shatter a few myths about social media marketing. Here’s an excerpt:

-----------
"The cost issues are critical for a small business," says Paul Verna, senior analyst with eMarketer. Larger companies can afford to hire an agency or even a team of people to handle the time-consuming chores of creating content, making regular updates and monitoring corporate social media pages. A small company may only have a part-time resource. “Even having one person dedicated to your social media profile better have an intense payoff at the other end," Verna warns.

It's no wonder that a recent Hiscox survey of more than 300 participants found that just 12 percent of small companies described social media as a "must" for their marketing and promotional strategies, and nearly 50 percent of respondents aren’t using social media at all.

"Most people go on Facebook to connect with people like family and friends or to play games, and they really don't care about your ball-bearing company," observes Mark Schaefer, a blogger and consultant in social media marketing. "At the end of the day, you have to go to where your customers are.”

-----------

While social media can be a useful investment for many small businesses, Facebook and Twitter aren't always the top choices. Twitter is an excellent vehicle for science and technology companies and communities. Facebook can be fantastic for consumer goods and services. But don't forget: there's also LinkedIn, YouTube, Yahoo and AOL communities, your company's blog, industry discussion forums and local social media sites. As Facebook and Twitter grow larger, their steady flow of new features may be overkill for small businesses. This article on Social Media Today does a nice job of outlining the issues with Facebook, and offers some helpful alternatives.

Before jumping into social media, understand your choices, customer preferences, and if social media is likely to meet company goals. If it still seems worthwhile and you know which sites will resonate with customers, start small. Once you start posting regularly and develop a community of followers, you have set an expectation for activity.