Beware: Social Media Can Destroy Your Business .. or Make It.
May 4, 2014
Social media can be the magic marketing bullet for your business or it can kill it.
Discover why here .. and save yourself a lot of pain.
I’ve just finished writing a social media policy for a sizeable UK charity. It has to be said these people already use social media very well and my job was really to fine tune what they are doing and introduce a few ideas they hadn’t looked at. I beleive this will increase their effectiveness by 200-300% (possibly much more) and save them money.
The problem with most businesses I speak to is that social media is killing their business. In 99% of cases they don’t even realise it.
You see too many people beleive they have to use social media because they see everyone else using it and because social media gurus tell them they should. These gurus have an agenda .. it isn’t supporting the clients business, it is supporting their own. So they try to get you hyped, into social media and lining their pockets.
The social media platforms don’t help in this respect. They encourage you to “link”, “retweet” and “follow”. This is really time absorbing and doesn’t always generate business.
Because social media is effectively free in most cases we are envcouraged to use it a lot. I like free marketing but lket’s face ti time is money and nothing is therefore totally free (having said that I still like free marketing when my time generates lots of profit through a free platform!).
I’m not against social media; I really like it. It can really drive business forward and generate a huge amount of business. It can also destroy your business.
I’ve written before about people following me when they are already following tens of thousands of other people. Great, but they are never going to see my activity amongst thousands of other people, so it has no value to me and has none to them The thing is the social media platforms encourage us by saying it is etiquete to follow people that follow you .. RUBBISH. It just absorbs valuable time.
I don’t have many people following me on most platforms. I DISCOURAGE it.
Only today I refused to link with three peope on LinkedIn. I didn’t know them and it was clear they were trying to sell rather than link for mutual benefit. It’s not that I don’t like LinkedIn. I get a lot of business from LinkedIn .. the charity mentioend above came via LinkedIn and so did several other recent projects I’ve worked on. LinkedIn is responsible for £tens of thousands of business that comes across my desk every year.
The reason I don’t encourage too many links is that many are a waste of time. It isn’t even that I want to only link to people that are going to buy from me. I linked to a student today and have helped them with some work for their MBA.
More ways that social media generates business profits
Some of my best clients are using social media advertising to great effect. Forget the fact that young people are allegedly leving Facebook in droves. We’ve been able to drive over 15,000 people to their website, over a short time, and they get a superb conversion from this traffic.
Forget also the fact that the “click through rate” (CTR) on Facebook advertising is allegedly really low. As you can see from the image above we have ads where the CTR is high. Any that don’t reach these standards get turned of after a few days of testing and the average CTR is very good. It is about focusing on details and using your time wisely.
So think through how you use social media, it can make or break you.
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