Social Media is, undoubtedly, the business tool that every small business needs to use. However, the greater global networking capability itself becomes the key driver to how your business (especially your products & services) will be affected by how you are perceived by social media users.
Some critics have challenged what the return on investment is for engagement in social media. Others have complained that the metrics don’t exist to demonstrate value,” wrote simonmainwaring in his piece, How Social Media Can Destroy Your Business and What You Can Do About It, in Sustainable Business. “What both overlook is the fact that their brand community has not only fully embraced socially media, but is leveraging this technology in ways that can either ensure that your business thrives or doesn’t survive.”
The core competencies of social media should include:
Transparency: This will ensure you remain ahead of the competition. There is no more ‘privileged information’, thanks to Wikileaks and ilk. Consumers today have the tools to pin fudged facts on products or faulty service and the prudence to share with user communities.
Social Responsibility: The importance of a business’s commitment to social responsibility has increased manifold. The community is increasingly looking at the major brands, enterprises, tech-preneurs to deliver on their social responsibilities and mass opinion will definitely determine many of the brands, given the influence a Tweet has on fan following. Look how BP oil spill in the Gulf of Mexico was virally impounded!
Creative Destruction: Newer technologies demand that businesses reinvent themselves and adapt to changes. Slow adapters quickly become causalities and destruct themselves by not seeing the creativity behind the technology. Businesses that lose sight of the woods for the trees will be the first to self-destruct.
Innovation: It is the key driver for businesses to survive past the next couple of decades. This responsibility lies largely on dynamic CEOs with ‘out-of-the-box’ thinking, positivity to risk-taking, reinventing and the awareness that new creative approach is the key.
How to stack your cards right for Social Media Optimization
Social media works for if your business –
- Follows transparent business policies
- Takes its social responsibility seriously and delivers on it
- Is open to technology and becomes a fast business adaptor
- Relies on creative approach mode