Five questions small businesses should ask about social media
Tuesday, July 21st, 2009
Social media is no longer buzzing like a honeybee or a power line. Rather, Social media is roaring, like a chainsaw.
Social media is not just the newest new form of direct marketing. It’s rapidly becoming the primary way that people –- your customers –- seek recommendations and chat with each other about their purchases.
In this environment, every forward-thinking business is already trying to figure out its social media strategy. But the social media ecosystem is so fluid that trial-and-error will only reveal temporary solutions. And trial-and-error is, by itself, not really a strategy.
So what questions should businesses, especially small, local ones, be asking themselves about social media?
1. Do I need a social media strategy? The answer to this question is a universal “yes,” even if your strategy ends up being “do nothing.” But it’s hard to imagine a small business that couldn’t be served by the fastest emerging method of person-to-person communication on earth.
2. What type of interaction would best serve my current business goals? Social media is about multi-party communication. It connects a business with its customers, but more importantly it can connect a business’s customers with each other. To form an effective social media strategy, a business needs to figure out who needs to be interacting with whom, and how that interaction should be taking place.
Some examples:
- A restaurant that seeks to increase patronage from its regular customers would want a platform to promote its daily specials and perhaps promotions (“free wine Wednesdays”).
- An emergency plumber which gets its main business from immediate problems would want a platform where its current and prospective customers could quickly reach them.
- An auto repair shop which faces lots of competition and customer skepticism would want a platform where past customers could attest to the shop’s honesty and reliability.
- A web-based business would want a platform that could drive traffic to its site and encourage its customers to promote the business to others.
3. Which platforms would best serve those communication needs? Obviously, “Get me on Twitter and Facebook” is not a social media strategy. But once you’ve decided who you’re targeting and what you want to accomplish, you need to pick your platforms: Facebook, MySpace, Twitter, YouTube, Yelp, Ning, Yola, and other sites each serve some purposes better than others.
4. How should I craft my presence on those platforms? The WSJ reported recently on a Twitter campaign by web site builder Moonfruit which increased its homepage traffic 13-fold and paying customers by 20%. The cost? Ten MacBook Pros. Since the contest ended, MoonFruit has lost more than 1/4 of their new followers, but now they’ve built a list of 34,000 followers to engage. It’s never been so easy to build a list that large, but now MoonFruit has the challenge of maintaining these subscribers’ interest, or they’ll tune out. Which leads to…
5. How much time can I commit to maintain my social presence? Unlike building a website, creating a blog, social network page, or Twitter feed takes ongoing effort. To keep your business from being sucked into the social media black hole, you have to maintain the presence with new interaction (or “feed the beast”). Each social platform requires a minimum frequency of interaction to be effective. Figure out who will own your business’s interactions, and how they’ll commit to keeping the brand alive online.
This last point is crucial. Creating and abandoning a social media platform is like letting dust collect on your store shelves. Thus, if you’re not serious about interacting with your customers online, you should find another method of marketing your business. And good luck finding one that’s more effective.