Social Media has taken online marketing by storm in recent years. It has captured a decent precentage of marketers’ advertising spend and this is growing exponentially. It can be a brilliant fit for certain business types while also being of limited value to other businesses.
We have many clients successfully using social media and using it to deliver more customers to their businesses and retain existing ones. We also have clients that have never even opened a Social Media account. Therefore, the first step in the advice process is to assess what, if any, value can be created for your business by using Social Media.
Context for Social Media
Despite all the hype, Social Media is really just another marketing tactic, albeit a very shiny new one. Critically, it needs to be assessed in this way. By this we mean that its value needs to be assessed in relative terms as opposed to absolute terms, i.e. is there some activity you could be undertaking that would deliver an even better return than Social Media?
Once you have established that you are a business that can benefit from Social Media, the next step is to come up with a great plan. Done right, Social Media can open you up to brand new customers, help you build your brand with existing customers, increase average spend per customer and a whole lot more. And, we’ve seen some incredible returns in recent years for relatively modest investments in terms of time and money.
- Time – have you the time resources required to execute your social media plan effectively?
- Money – in some cases you will also need a budget to support your efforts
- Is Social Media a good fit for your customers
- Have all other reasonable alternatives been considered that could provide a better return?
- Are there specific risks for your business in social media and if so, how can these be mitigated so that potential ROI is still attractive?
We can advise and help with a number of social media services: