Fallacy of the Social Media Boom...

If you're like most small business owners, you're being approached by social media evangelist claiming the demise of your business without Facebook, Twitter, LinkedIn and Google +1 marketing strategies.  The premise is everyone is doing it, the start-up costs are nominal and you're going to loose out to those that do.  Well let's test the premises.

1.  Everyone is doing it.  The social media info graphs show phenomenal growth over the past few years.  Yet my non-scientific study of nearly 900 business owners inclusive of B2B and B2C in the DFW area, with revenues less than $3 mm, with 3 to 35 employees and in business at least 2 years revealed few had social media accounts much less a company strategy.  Many still didn't have any web presence at all.  The alarming finding what that less nearly 20% didn't even answer the phone with a high percentage going to a boring voice mail.  How much business is being missed here?  Technology may be a help with call forwarding to a cellphone.  People still want to talk to a human being first.  The first question is where are your customers in the greatest quantity?  Ask whether there is sufficient market penetration to merit the investment?  Or recognize you're going to invest a lot to pioneer this effort.  

2.  The start up cost are nominal.  Partially true.  To open an account it is without a monetary cost.  Next comes the smarts and labor required to put relevant, timely and valuable content into numerous social media platforms.  By the way, you need to tailor your content and for each site differently so that the message is suited to each social media's purpose.  For instance...you Tweet - "I'm eating donuts,"  Facebook - "I like donuts,"  LinkedIn - "Eating donuts is one of my skills."  Google +1 - "I am a donut eater and I have the data to prove it."  This is worst than grammar class congregating verbs back in the day.  This initiative requires a lot more energy to inform, attract and edu-tain long term.  How would this work enhance new or existing customers?  Is there a ROI - if so is it near or long term?  

3.  You're going to loose out to those that do.  Well who is making money today applying social media?  I'm told this is not the right question.  This is all part of brand building and takes time.  Okay.  Most business owners are seeking to delight their customers.  If you can enhance the experience with social media go for it.  Just go into this with your eyes wide open and make the judgement call when to get apply the resources to be effective in social media. 

Social media is here to stay.  It is growing fast.  Learn enough to assess if your customers are there before investing.