Every business owner (especially in tougher economic environments) will look at the activities in the operation and say ‘But how much revenue will that bring in?’ Unfortunately if you go into social media with this at the forefront of your mind, you will be severely disappointed. It is not a quick fix to bring money in.

Participating in social media means (in a nutshell) that you have a long term investment in being consistent in your presence – however your success is ultimately measured in what you set out to achieve by being on any of the platforms in the first place. Your planning and strategy is completed in the short-to-medium term – so any resources are planned according to this timescale. Your main resource cost is going to be time – so be very clear about whose time is better spent on this area of your business – because I can guarantee it is not going to be you. Your only contribution to the social media strategy is going to be what’s locked up in your head…content.

Too many companies do go into social media thinking that its purely a marketing route and head straight into selling themselves, and cause massive speedbumps in their relationships with their online audiences. Bear in mind that social media is about relationships, communication, marketing, PR and customer service….all neatly rolled in one.

Results take time – and its crucial to craft the measureables of your return based on the elements you can achieve in participating…and not directly relating it to your bottom line.

Solution:

Ensure that you tie your social media strategy in with your marketing, communications and online strategies…this where you will start to feel the gains. Be specific about what you want to achieve by adding social media to your toolbox of media channels – which ultimately increase visits to your website or footfall to your premises.

High long-term commitment, energy and enthusiasm to integrating social media into the business’ ethos and communication channels will reap untold rewards in customer feedback, loyalty and brand enhancement. These, in turn, will bolster your bottom line.