The person buying shoes is urged to follow the shoe store on Twitter and Facebook; even the receipt has a reminder. Ditto the clothes store. Even Purina One dog food has a Twitter page.
In terms of the historic marketplace, these changes have come in a nanosecond, begging the question: Do they work? Are businesses gleaning results?
Some minds seem predisposed to social media, imparting and gleaning volumes from the blasts, updates and consonants that stand for entire words. But for many, the drumbeat is too new to be anything but syncopation.
How is the social media world translating to the marketplace in August 2011? Two media professionals weigh in: Bruce Newman is vice president of the Productivity Institute L.L.C. based in Carmel who writes, blogs and posts about social networking including for HV Biz; and Tim Mullane is the tristate regional vice president for Robert Half Technology, an international consultancy and staffing firm that reports 46 percent of marketing executives now use Facebook professionally.
Social media like Facebook and Twitter have gone from unknown to ubiquitous in just a few years. Are they bringing in dollars-and-cents results or are results in the hoped-for arena?
NEWMAN: “Not directly. That”™s not the nature of social media. Social media is designed more to generate buzz and attention. However, this is a two-edged sword. Yes, an increasing number of companies are using social media ”¦ but how many of them are actually standing out because of it? Not many. Think back to the 1990s when companies would just build websites on the expectation, ”˜If they build it, people will come.”™ Same scenario, just a few years later. To be able to stand out requires the use of an effective strategy, usually across several social media platforms.”
MULLANE: “While advertising creates tangible revenue, utilizing social media helps to create brand awareness and give organizations, as well as individuals within them, a voice and a chance to network and engage the public. Businesses are learning that social networking, when used properly, can be an effective business tool. In fact, many companies are using Facebook and Twitter for marketing, customer service and recruitment purposes.”
Are social media sites a fad ”“ the Pet Rock of the 21st century ”“ with the potential to go the way of all Hula Hoops? If not a fad, what gives social media the potential to last?
NEWMAN: “No. Social media is here to stay. The question is in what form is it evolving to? Will it be based on geographic location, coupons, meetings or something more esoteric such as group purchasing on a website? No one knows.”
MULLANE: “There”™s no sign that the popularity of social networking sites is waning. In fact, a recent survey by The Creative Group found that 56 percent of creative executives expect to implement the use of more social media in the workplace within the next three years. In the creative sector in particular, online social networking is widely popular. It is an effective way to communicate more intimately with clients and consumers, so long as it”™s done professionally.”
Is there a risk of overload? Can a single business overdo its social outreach? Is there a worry the public will say, “I can”™t take it any more,” and come to dislike your company? Or is there an expectation the public is its own best filter?Â
NEWMAN: “Anything can be overdone. We are constantly debating how often to send out a newsletter, an announcement, etc. The goal is to stay in front of people without becoming a nuisance. If you do overreach this somewhat arbitrary and variable level, people will not hesitate to drop you from their contacts. This is the big fear of many marketers because once people do drop you, it is very unlikely they will follow you again. People have very little tolerance in social media.”
MULLANE: “There are many social media networks available, whether it is Facebook, Twitter or Google+, and companies need to find the best tool and appropriate volume to suit their needs. Companies are using social media to expand their networks and showcase their industry experience. To maximize your social media network, companies and individuals want to share nuggets of useful information with their contacts and offer advice when they ask for recommendations or ideas. It is also important to be generous with your contacts by offering to make introductions or sharing useful information they post with your own network. It”™s important to remember to never say anything disparaging about your current or former company, coworkers, clients or other business contacts. You never know who might see your comments and forward them on.”
A business person age 55 and over likely considers him- or herself a person of substance. Is there a “shallow factor” with social media. The village hamburger stand is one thing, should my surgeon or my tax attorney tweet about business?
NEWMAN: “They can, but only to a point. It”™s important to remember, that once something hits the Internet, it”™s there forever. We use the commercials on television that exclaim, ”˜What happens in Vegas stays in Vegas,”™ as a humorous example of naiveté and false marketing. Always assume that there”™s no privacy online. It”™s legitimate for your tax attorney to tweet or discuss some arcane tax law. Professional discussions could be very informative. Extending this discussion to a client”™s situation ”“ even if still anonymous ”“ could have serious ramifications.
“One area that needs to be addressed is the area of privacy ”“ an area that Facebook repeatedly gives short shrift to. I expect these privacy issues to become a much larger issue in the next year or two. In one sense, they already have if you consider the escapades of News Corp. And, this is just the beginning. The legal industry lags well behind technology. It has yet to catch up with social media.”
MULLANE: “Not everyone in your social network needs to know about your Friday dinner plans or musings on the latest blockbuster movie. Segment your friend lists so professional contacts aren”™t inundated with updates they wouldn”™t want to ”“ or shouldn”™t ”“ see. Also check your privacy settings to control who has access to what information.”
