Some businesses chase every new social media service, or at least get nervous about missing something as each new platform is introduced.They feel the need to be everywhere. The most common mistake I see consumer-focused companies (B2C) make is dissipating their limited resources and therefore under-investing in (or worse, ignoring) Facebook and Twitter. It’s a huge missed opportunity.
Surprisingly, business-focused companies (B2B) make exactly the opposite mistake. They see the tremendous success of B2C companies in Facebook and Twitter and rush right in. In fact, I see very few B2B initiatives that show apparent return on investment (ROI) in either platform. They’re the wrong tools for most B2Bs.
I suggest that, instead, you answer the following questions first before selecting your tool(s):
- What are our key objectives in implementing this initiative? Hint: They should probably relate in some way to profits.
- Who is our target audience? Define your target audience(s) as narrowly as possible and serve each individually. Addressing two different audiences with one initiative creates 50% noise for each.
- How can we create genuine value for our target audience, in a way that has the potential to create value for our business too?
- What are the demographics of our target audience? Where are they already spending their time and attention?
With the perspective of honest answers for each of these questions, you’re now equipped to select the right tool to connect with your audience.
One final point (the most important advice, and not just for social networking): It’s better to do 1 thing well than 3 things poorly. In social media and social networking (as in life), the goal is not to be everywhere; it’s to be thoroughly engaged in your selected community.
Pick your best tool and use it to truly connect with your audience. In so doing, there’s potential for real revenue.