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48 commentsTuesday, October 28, 2008

Is Social Media Good or Bad For Business?

Some Things To Consider

48 Comments

I think it is a addictional

I think it is a addictional help for us search infos/

Please read the #1 post above

"I think it is a addictional help for us search infos/"

I believe the above post indicates the professionalism that represents those who believe social networks serves positive business needs.

The good We’re in the

The good

We’re in the middle of the worst recession in decades, with every day beginning with another disastrous economic report. So it’s critical for us to find ways to keep our cash outlays to a minimum while keeping our customers happy, and while finding more customers like them. This is precisely why businesses are turning to Twitter, Facebook, YouTube and other social tools and networks, as they are able to meaningfully connect with customers and prospects at a very low price point.

This seems to reinforce findings from a recent study conducted by Coleman-Parkes Research that found 84 percent of companies headquartered in North America feel they need to find new ways to communicate with customers. These “new ways” not only include the social networks your customers frequent, but also the devices they use to access them, like their BlackBerry, iPod or G1 phone. So using social media to solidify existing relationships, as well as create new ones, can be done. And it can be done inexpensively, and with relative ease by creating captivating content.

I wholeheartedly agree with

I wholeheartedly agree with the above. If not you, your competitors will. We're in economy 3.0, adapt, or...

Jerry
Head over to mcvictor.com and find out how easy it can be to make money online

The business

The businesses you're in is a very important factor to determine if the use of social media is profitable for the company, the knowledge and network of your employees.
Greets Wellness

If you are good at business

If you are good at business then social media can be very good for business, but there are no quick wins - you will need to make social media work for the customer first and foremost and thats where people fail.

Social media is extremely

Social media is extremely important in business development , though there are some dis advantages as well

Marketing exposure

I would say social media is the new world of marketing .. free, varied, universal and catching. Traditional advertising media doesn't even come close. Great article by the way.

my thought

Social media is ok until business people come in thinking "we are going to storm into this innocent-land" and then the people using social media are like "don't come in our place" and so the business people try to do fake things to blend in and that lowers the quality of social media for both sides.

you are just Right!

you are just Right!

Thx

Oh yeah, i'm agree with you !

i'm agree with you too

i'm agree with you too

thanks chris

Thanks for the great info about social marketing. If you can manage it well it can be the most powerful marketing you can do.

Amazing stuff..Never knew

Amazing stuff..Never knew Social Marketing could be so varied yet fun.

Ditto

Yep..Social Marketing is the tag line of the future.

great article Chris

I think it comes down to managing your social marketing and interacting with everything you can find no matter if its good or bad.

Is Social Media Good or Bad For Business?

I have read that some companies have forbidden access from their computers to social media web sites like Facebook, and some other social media web sites for this reason.

I agree..

I agree, Chris, with your final analysis. As a small safety and security web site owner, I find social networking a good thing but I can see how larger companies can have difficulty supervising it. It's not for every business but when it works it works well so they should really figure out how to measure the results. There may be a way.

I have a keylogger available on my site that might help. The coporate model will easily help companies find out how much time their employees are spending on personal activity and how much actual work their doing. The information obtained can also help them track whether the social networking resulted in productivity or not.

Thanks, Chris, for this interesting article.

About Loss of Productivity

Social media has been a big part of my world, even before it became a buzz-word. I was a power-user for years before it became an occupation.

Social media is good for business. Productivity losses, however, should be looked at in two different ways.

  1. Loss of productivity is a daily occurence with or without the social media influence. Studies already have shown the stereo-typical employee is generally only capable of 60-70% productivity for the entire time they are at work. It isn't even about laziness, it is simply the human capacity, needs, and behaviours that have established this fact, along with the reality of the world of work being one full of constant interruptions, changing priorities, etc.

    Loss of productivity as an observed reality just because they're on facebook, doesn't mean it has to be unproductive. And since when, did relationship building online amount to an unproductive use of time?

    Initially, there will be a lot of wasted effort as the stumbling around with the social site, applications, and people being explored. As time passes - up to a year - the focus will narrow in on areas creating more impact.
     
  2. Unproductive employees are typically a sign of a lack of health and/or well-being, either with the workplace, or with the employee. Time-wasters still goofing off on a social site likely goofed off other ways before social media came along. This is where a company needs to look at how actively they engage their employees. Are they fulfilled?

    People don't goof off when they're fulfilled by what they do, or by taking part with the group they work with. If people are glued to a social site like facebook, instead of being glued to their work, then there is a hole they're trying to fill in their workday experience. It's not all about work, it's social and internal needs too.

Social sites, by their very nature and intent, are socially engaging websites. Something that socially engages often offers a sense of fulfillment in a brief space of time.

Business: Take note of what has been said long before social media sites became a reality. Successful, productive, creative, and fulfilled employees are a direct result of engaged employees.

How are you going to create the dynamics in your workplace so that it becomes a place that engages and empowers your staff?

Social Media Marketing

If a company wants employees to use social media sites to build the company brand they should first consider creating a positioning statement and copy platform for their workers to read, and have them sign an agreement to follow them whenever posting.  The postioning paper is what defines the quality of a service or product that makes it special - so that it positions that product by giving it a uniqueness as defined by the company and not the employee.  The positioning paper also defines who the targeted audience for that product is - the end consumer as defined by the company.   That target could be people in good health in their fifties, or it could be college grads just out of school and entering into the work force.  I think that if the employee isn't given some sort of guidelines like this in writing, then it's inevitable that there's going to be a lot of social media contributing that's conveys more of the employee's own personally than the company's message. 

The copy platform is more in depth than the postioning paper and is made up of more specific kinds of things - it's more like the kind of thing script-writers use to keep all of the actors in character throughout a television series, and keep the story line straight from episode to episode.  You can't have three or four employees each saying different things about what a product does on different social media sites or there will be conflicting messages that could cause confusion or hurt the brand name if compared. 

For public relations and trust issues, a company will do better if it presents a consistent message.  A solid image is a good thing - like a party platform in politics, each company position on the most important product and service issues should be made known to the employee, and faithfully presented in any message written by the employee whenever required.

Too contrived

We're in a time when people expect more from their freedom. People have been following the leader for such a long time, and the past decade has been an uncomfortable one all over. What we see happening now, expressed here, and changing the landscape of how we relate, the choices we make, who we will work for, etc., are all indicators of this reality.

Giving employees something that says this is our brand, our position, and you will follow it - please sign here - is akin to not having a social media plan.

Social Media Marketing is a managed approach to being transparent. If you cannot be transparent as a business, then it begs the question about any potential ethical issues with the company or its people.

Take the leash off, let people speak their minds. Or did everyone forget that controversy is often better marketing than good, well-managed, and boring news?

You want loyalty? Don't force it.

it has to be utilized....

If your competitors can use it against you then you have no choice, unless you want to fail. 

This new marketing tactic, as it is viewed by small businesses, must be utilized.  It would be like sticking to your bows and arrows while rifels abound. 

Dont resist change!  Its the only thing that is constant.  The entire universe is in motion and changing.....   .... and speeding up. 

Give them some conditions

I once had a client who was complaining about loss of income due to staff members browsing social sites too much.

I recommended that he made it 'mandatory' for his staff to insert the company web address and a banner on their home pages and voilais, lots more instant backlinks and brand awareness. Won't always work, but this was a nice way to turn a negative into a positive...

 

RE: Give them some conditions

Not a bad idea.

Social Media

 

 

Hello,

I sell on eBay, so for me Twitter, blogs, etc. are a way of life. I believe the main thing with social media is all folks want to get to know the person(s) behind the products/services.

In this fast paced day and age, it is much simpler to go online and read about someone; either about them or how they run there business.

I, personally, believe in letting folks know who we are, and what we stand for. This is very easy using social media...like, I believe in helping with cancer drives, so I might send out something on Twitter, or blog about it. I might have something on my face book, or my space.

Of course, we are a two person business...which eliminates the need to supervise employees. However, I feel as long as these folks use these sites in connection with there job, they are letting people know what kind of folks you hire, and how you treat them! This will give a potential customer some outside info about you and your company.

I have a very good friend who runs a small brick and mortar. She asks her potential employees if they use facebook, twitter, etc. and then she checks them out! You would be surprised the wealth of information you can get about a person just by reading these things.

 

RE: Social Media

They do provide a human element that can help inspire trust from the customer's perspective.

Yes and no is the perfect answer...

I think it all comes down to the productivity of your staff. I'm pretty loose with my staff as long as deadlines are being met and the work is worth what the client is paying for it. When Either of those two issues are compromised, then I usually tell the employee I don't want to see any Facebook/Myspace/Youtube or whatnot.  You don't want your employees to feel like they're walking into a sweatshop so it's up to you to find the balance.

RE: Yes and no is the perfect answer...

Yes, unfortunately it can be hard to pinpoint that balance.

Social Media: Good or Bad

Thank you Chris for bringing up this very interesting subject.

I have been researching the use of social media in Internet Marketing and found that networking the various groups can lead you to interest sectors dedicated to a specific aim, subject, technology, product, etc. much in the same manner as with PPC. 

In my opinion one should network in the social media as part of a general strategy including bloggers, forums and bookmarks.

Have a good one!

Zvi

Social Media Revolution

Thanks. That would mean social media sites are the best places to hang out and promote online business. So far, we don't see any significant success in terms of conversion but in seo terms, social media is very good.

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