Most businesses venture into social media expecting to see a big return on investment. The hope is that new customers will come in droves, and that the benefits and revenue generation will be huge. However, this is rarely the case. It takes time to build momentum with social media, and the benefits aren’t always as obvious as we would like.
If you’re feeling a bit skeptical about social media marketing and whether or not it’s worth the effort, following are some reasons why it may be working better than you realize.
One of the most powerful ways to use social media is as a brand-building tool. With social media, you get to decide how you want to position your company and what you want people to know about what you do. With consistent effort and great content, you can build a reputation for your brand around your company’s values, benefits, and advantages.
There is nothing like social media when it comes to cultivating a community. When your followers become part of your community, you gain instant access to them. That means you can find out what challenges they are facing and what they like and don’t like about your offerings. You can engage in ongoing dialog that can be more valuable than any kind of paid market research.
Your business fans or followers are a great way to spread the message of the business around. Customer satisfaction means happy and loyal customer who will put in a good word for your business resulting in more relevant and targeted lead generation.
Authority – For coaches, consultants, authors, speakers, and other service-based businesses, social media can be very powerful in helping you establish authority in your field—making you the go-to resource for your target audience to seek out for help. Share great content, answer questions, and serve your audience, and you will inevitably build loyal fans.
As your following increases, your influence grows. Having a substantial social media audience creates a snowball effect that can attract new customers, media interviews, joint venture partnerships, and all kinds of other opportunities. It’s a bit like when you see a crowd hovered around something. You can’t help but want to see what all the fuss is about, so a large audience will only attract more interest.
Whether you realize it or not, your prospects and clients are checking to see if you are engaging in social media. I always find it a bit odd when I’m investigating a potential service provider online and I can’t locate a social media presence or worse, I find Facebook pages that haven’t been updated in months, empty Twitter feeds, and a clear lack of interest in engaging. Social media isn’t a fad and it’s not going away. Even if it’s not your top priority, if you stay current with activity, your prospects will notice.
There may be days when you wonder if anyone is paying attention to your social media networks. But if your efforts are consistent, I guarantee that more people are paying attention than you realize. Give it time and you’ll start to understand what’s happening behind the anonymity of the internet. You will eventually hear from people who say, “I’ve been following you on Twitter for ages. I love your posts!”
The reality is that most of your competitors aren’t likely doing a very good job with social media (most companies aren’t), which gives you the chance to stand out. Also consider the flip side. If you avoid social media, you leave a big opening that allows your competitors to capture your audience.
While many businesses large and small are trying to justify the cost and time investment for managing social media marketing, an important benefit often gets overlooked: Big Wins. For example, if someone from LinkedIn connects you with a significant government contract, then that would certainly qualify as a Big Win. If a major media outlet finds you on Twitter and interviews you for a national article, then that is also a Big Win—one that you can’t measure based on revenues directly generated.