Social Media: Sink or Swim?

Neal Moore

Perhaps your business or not-for-profit organization is ready to dive into the “social media” pool. Terrific! But, let me offer a caution: look before you leap. Adopting a social media strategy isn’t a must-do proposition for everyone.

Facebook, Twitter, LinkedIn and similar social media tools are relatively simple, inexpensive ways for businesses and organizations to connect with customers or constituents, and to introduce products or services to new audiences. For example, Burd Ford in Lawrence frequently uses social media to promote special events and discount offers.

The rapid adoption and viral nature of these Web-based tools, and the price tag – usually free – make them especially appealing to aggressive marketers who are looking to swim in deeper water. Let’s take a look at the pros and cons:

1. Social media is best viewed as a conversation. The real power of online social connections is the interaction between businesses and customers (both critics and fans), often in real time. Such interaction provides valuable insight into what consumers appreciate, and what they find annoying. Most importantly, these social connections pull back a kind of cyber curtain revealing what dissatisfied consumers are sharing online about your products and customer service. This digital intelligence presents unprecedented opportunities to immediately respond to such negatives.
2. Social media can provide a competitive advantage. By engaging in direct, real time conversations, and by using key words and phrases to monitor the Web for references to its products and competitors, the socially connected often have a leg-up on competition. In a business environment where profit margins are razor-thin, every bit of competitive advantage is necessary to stand out in the marketplace. But understand that it requires real commitment to proactively seek out this digital information. It’s not a push-the-button-and-it-happens-automatically proposition.
3. Social media is a tool, not a solution. Facebook, Twitter, et al should enhance, not replace traditional marketing. Some companies adopt an all-Internet strategy, eschewing traditional advertising, direct mail, and the like. But typically these are virtual firms – usually smallish startups that depend on the viral nature of the Web to advance products and services. Traditional companies should look for ways to integrate Web-based messaging into overarching marketing strategies. And, social media is a great tool for tracking targeted discounts, coupons, and other such online-only offers by using unique URLs and telephone numbers.
4. Social media requires sufficient personnel and financial resources. Blogging, Twittering, and Facebooking – all require regular updates of new, compelling content. There are few things less interesting than a months-old post on a blog, or that “tweet” you sent ten days ago. Social networkers will easily sniff out half-hearted approaches. This is critically important – you’re either in or you’re out – there is no in between. In short: social Web strategies that aren’t properly supported are doomed.

Organizations shouldn’t feel pressured into adopting a social media strategy just because “it’s the thing to do.” Without the requisite staff and financial resources to properly engage in an online strategy, social media is probably best left alone. There is, after all, the risk of mishandling an online promotion (see Marsh Supermarkets’ unintentional but expensive Facebook fiasco.) Without a deep understanding of how to capitalize using social connectivity, it’s entirely possible more harm than good might come from the experience.

Still, a case can be made for many organizations to engage in some form of social media. The ability to determine and better understand how customers really feel about products and services is the long-sought Holy Grail of marketing, and the availability of social media tools moves us closer than ever to this elusive goal. Social media’s global reach and relatively inexpensive cost are too powerful to ignore. Just be sure you know how to swim.