Social Media – Is It Worth It?

I  just listened to a great podcast with Jim Sterne  all about Social Media Metrics (from the guys over at Beyond Web Analytics).   Much of the discussion was around how companies are trying to tie in their social media metrics into their other metrics and KPIs (read: business objectives).    For example, how many Tweets on Twitter? Diggs? Yelp reviews?  Are the comments positive or negative? Etc….

Social Media Hype?

Got me thinking… if you are a small business owner, or even an executive at a large company, you may be wondering about all the hype around social media.  I have talked to many small business owners (SBOs) that realize that everyone is talking about facebook, twitter, linkedin, flickr, etc. but they don’t know where to start.   Common comments I’ve heard:

• “It takes too much time”
• “I don’t want to post something everyday”
• “What is the real ROI?”

I can completely understand.  For those that are not Web 2.0 aficionados (or at least a teeny bit tech savvy), the sheer number of social media alternatives is overwhelming, let alone getting accounts set up on each and maintaining some level of activity.

However, to engage with your customers, you need to “be” where they are “hanging out”.  If your customers are hanging out on forums, you should be there (in a helpful, engaging sort of way – definitely not a spammy sort of way).  If your customers are on Twitter and Facebook, you should be there too.  Most of them will happily “friend” you or follow you so that they can be aware of new products, discount codes, as well as even just to associate your brand with their name.   A lot of the time, they will be looking for you rather than you looking for them.  So yes, the hype is real.

Social Media Strategy

Truly, before setting off on a registration rampage  on all the “cool” social media sites, you should define your objectives.  What is your purpose for being there?   Is it one of these below? Maybe something else?  They key thing is that you define the purpose. And… that purpose should be tied to business goal.

• Engagement/conversation with your customers?
• Drive more traffic to your website?
• Keeping abreast of customer raves or complaints? (cool article on how to track it)

Setting up your Accounts and Getting in the Game

In reality, it is not that hard to set up a few accounts.  Twitter takes all of about 1min and Facebook may take a few minutes.  But the great thing is that you can link accounts so that you can update in one place and it will update other accounts.  For example it is easy to link your twitter feed to your Facebook status…  let’s say you are selling computers and accessories.  With both your facebook page and your twitter account set up and linked, you simply post something to your twitter account “online sale on 21 inch Dell Flat Screen monitors $99. 10 in stock, use coupon code ARVS72.”   and viola, you have posted simultaneously on your Facebook page.

Now of course, getting traffic on your twitter and facebook accounts is another story.   On twitter you can utilize hash tags (#) to “tag” your tweet with relevant keywords.  With Facebook start with your friends.  If you have a personal account, you can set up a business account or a fan page, and suggest your friends “add” your business site as a friend or “fan” your fan page.   The key is providing relevant content and not coming across as spammy.

Go Forth and Conquer!

These are just a few ideas to help you with your social media presence.  The best way to learn is to set up your accounts and start getting comfortable with the feel and culture of each of the different social media tools. They all have a unique flair, and each needs to be utilized in its own special way.

You can also keep track of how wide the reach is of your content by using Sliderocket’s “per-slide” analytics. This can be used to keep track of the number of views, clicks, tweets, and Facebook likes. Plus, non-profit organizations can avail of Sliderocket’s discount through techsoup.org.

By using the LinkedIn search function, you can find and join groups where you can participate in discussions. This is a great way to remain visible and valuable to your target market.

By locating and joining groups that are relevant to your business and join in their discussion, you can locate and connect with more people in your target market as well as update them and do business with them.

LinkedIn has developed a tool for making this step easier. Take advantage of LinkedIn Today as it is a tool where you can customize news update by industry so that you can easily share relevant stories with your connections and have top news be readily visible.