Many small businesses gravitate to social media it’s free to use, not taking into account the time and effort involved.
But is social media is good thing for small businesses to be spending their time doing?
Maybe not, according to a new study by Manta, which discovered that 61% of small businesses don’t see an ROI on their social media effort at a time when 50% of respondents say they’re spending more time on social media. (See the infographic below for more details about the study)
So why do many small businesses are struggling with social media.
If so many of them are enthusiastic about social media to attract and engage customers, gain leads and referrals and boost awareness, then why do most small businesses claim there’s no ROI?
Maybe it comes down to expectations. Many small businesses hear about the magical powers of social media so they jump on the bandwagon, only to discover it doesn’t automatically mean a wave of followers and fans.
A more reasonable explanation may be that social media isn’t easy, even though it is free. Truth be told, embracing social media is easy, but being successful doing it is difficult.
Social media involves a lot of moving parts, including a well-defined strategy and objectives, benchmarks and a commitment to make social media on a regular (daily?) basis. Companies that also thrive at social media are good communicators, agile and creative thinkers and do-ers.
The willingness and ability to execute tactically is where many small businesses drop the proverbial ball. Sure, they’re enthusiastic initially but after the novelty wears off, reality sets in. This often sees a small business go from being active on social media to inactive because they don’t see immediate returns.
The thing about social media is it’s a game of inches, not a game of miles.
In most cases, traction happens slowly over time, and it happens because a business is willing to work at it every day.
If you want to succeed at social media, there are no digital holidays. You can’t do it for awhile, and then take a break. In many ways, it is like trying to get in better shape. You have to work out on a regular basis to see any physical improvements.
The biggest challenge with small business when it comes to social media is having enough time and energy to do it.
When you’re a small business, there simply isn’t enough time or energy to go around, let alone embrace a new activity. Despite your best intentions, something else will capture your attention as opposed to tending your Twitter or Facebook account. It’s a fact of life (and business).
For small businesses to do well with social media, it not only takes a committed investment in social media but often means doing less or something else or giving it up completely.
For example, a small business may decide that being active on Twitter and Facebook is the best way to engage with consumers. But it means not spending their time or money on direct mail or newspaper inserts.
This can be a difficult decision because it’s not easy for a small business to give up something they have been using for years, even if social media has much more potential.
Doing well at social media also means being creative and engaged. You need to be light on your feet, willing to experiment to new ideas, closely monitor the competition and move quickly to jump on opportunities. Again, this can be an entirely new way to behave.
When you really think about it, the results of Manta’s study are not surprising.
From the outside looking in, social media looks like a relatively easy thing. But once you get into the game, you discover there is a lot more involved, including the need to be patient rather than expect overnight success.
