As we head into 2011, social media is firmly established as something that most companies should embrace. It’s a “when” rather than “if” proposition given social media’s potential as a new and different communications, marketing and sales platform, as well as the dynamics of the competitive landscape.
That said, one of the most important considerations for companies looking to get into social media is educating themselves. This means getting a firm handle on the opportunities, the different options and how social media can be effectively leveraged.
And it’s something that should happen before a company even considers putting together a social media strategy.
Far too often, companies scramble into social media because there’s a fear the market and competitors are rumbling ahead, and that if they don’t jump into the fray, it will be too late.
Unfortunately, this approach often leads to disappointment because without a good and educated sense of what is happening and how to capitalize on it, companies can easily get little or no return on their social media activities.
What I’m starting to see from companies that haven’t jumped into social media is a growing willingness to educate themselves before they decide to take another step forward. It often means providing executives with a presentation that covers the entire landscape, including the advantages and disadvantages of the different services.
It can also involve something less formal by sitting down for a conversation to hear what’s happening, and then asking questions about different options.
Perhaps the growing appetite for education has to do with the fact that if a company isn’t already in social media, then there is no first-mover advantage. As a result, speed to market is not important.
While a company may not want to sit on the sidelines for too long, the reality is there’s no need to rush things out the door. By taking the time to determine whether social media makes sense, they can pragmatically move forward in a way that has more to do with overall strategy and objectives than simply being active in the marketplace.
For companies weighing the benefits of education vs. action, a recent report by eMarketer looking at the mistakes made by U.S. marketers about social media is an eye-opener.
Among the leading reasons cited by marketers is not having a strategy, not defining goals and objectives, and not setting proper expectations with executives. These are all issues that can be focused on during the education process as opposed to learning them after a social media program has been launched.
Tags: education, Social Media, strategy
Mark,
You are right. Companies need to educate themselves *before* implementing a strategy (I use * b/c caps is like screaming). After evaluating the various platforms, indicators and specific company objectives, there’s no harm in testing out some of these choices. One concept I may integrate into a social media strategy is some ability to adapt and change elements of a strategy as a company becomes more mature. While it is important to maintain some consistency of objectives and goals for measurement reasons, the approach a company takes may change over time. Having some flexibility will allow companies to experiment and find what works best for them.
Thanks for the great post. Hope you all have a great start to 2011.
-Jennifer
You’re right-on with education providing a solution to the 2nd thru 5th kinds of mistakes. But, more than 1/3 of marketing exec will not take the time to learn – that’s what the survey says? – H.
Interesting post, thanks. “As a result, speed to market is important.” There’s a “not” missing is there not?
Great post that I hope many people read. If there was one social media marketing trend in 2010 it was this: companies and individuals scrambling onto the social media bandwagon with little clue of their objectives, leaving in their wake a wealth of dead blogs, Twitter accounts and Facebook pages. I hope this year more people learn before they leap. Of course, with more and more [not terribly tech-savvy] people hopping on board, this is quite doubtful!
My hope is the more people and companies learn about social media, the more they will understand the commitment and investment required to make it happen and, as important, support the goals of the business.
Thanks for the comment!
Mark
I’m surprised that “not measuring” didn’t make the list… I think there are a lot of people are are in the space…Tweeting, they have a Facebook page…but they actually still aren’t doing any measurement whatsoever. There’s a lot of people who aren’t even doing so much as tracking their Bit.ly links because they just don’t know what to measure. Maybe that goes under “not setting proper goals and objectives.”
Janet,
Good point about measurement being a key element within social media.
Thanks for the comment.
Mark