BIDC Business Catalyst 6 #3.indd 1 12/21/10 3:17:07 PM

Social Networking
and has touched virtually every industry and demographics.
The channel boasts incredible power: power to influence, power
to interact, power to entertain, power to cooperate...the list
goes on. So, how can you harness that power?
Whether you’ve jumped in wholeheartedly, have a toe in the
water, or are cautiously plotting your entry, your strategy will
benefit from taking a step back and formalizing a plan. Here are
the essential elements that must be incorporated into your social
plunge:
• Do Plan Ahead. Before taking the leap into the social media
world, make sure to prioritize your top business goals and
identify your target audience. This will help you cut through
the social media clutter and will enable you to feel confident in
choosing the right sites and the correct message.
• Don’t Bite Off More Than You Can Chew. Pick one to two
networking sites at the start of their journey and really focus
on learning how to work them. After that, reevaluate whether
it’s beneficial to you. Social networking is not a “do or die”
situation: If you don’t want to do it, don’t. But be aware that
you could be just setting yourself up for failure.
• Set Your Goals. Social media is not about having the
most fans, it is about building and strengthening customer
relationships and building brand awareness. You must decide
ahead of time what you are aiming for in these essential areas
and develop some specific and measurable objectives.
• Don’t Become An Outsider. Make sure to read the rules
and understand the culture of a social networking site before
getting involved. Sites differ in what kinds of behaviors are
acceptable, and it’s important to understand your audience
before investing too much time. Take the time to get to know
the other community members and listen to what’s being
talked about and what the general tone of conversation is like
before contributing.
• Establish Your Presence. Mainstream networks like
Facebook and Twitter will likely be your ‘go-tos’, but consider
the host of other, more niche groups that would allow you to
take your social content to a more targeted audience. There
are social networks out there for seemingly every special
interest group, some of which may interest you immensely.
• Collaborate With Others. Internalizing the emergence of
social media is absolutely critical to your organization’s success
with it. The open dialogue, sharing of best practices and sheer
peer networking opportunities provided through networks like
LinkedIn are not ones you’ll want to let pass.
• Manage Your Reputation. With the social channel comes
significant noise, increasing your need to cut through
the clutter, deliver clear messaging, and participate in
conversations that further your goals. Part of this means taking
the time to monitor the ongoing commentary surrounding
your brand, including your business practices, as well as both
negative and positive reviews and assuring you are in a position
to respond effectively.
• Do Get The Company Involved. It’s important everyone
in your company is a part of the social networking learning
process, which can maximize your usage. Your employees hear
from your customers and can build relationships through the
social networking sites.
• Don’t Use Social Media As A Billboard. Maintaining your
company’s identity and values online is important. Use the
sites to help potential customers get to know the company by
building relationships. Businesses are finding these sites to be
a way to connect with customers and deal directly with issues
and concerns they might have. For instance, companies are
using Twitter accounts for customer service. They can respond
to customers’ questions and concerns immediately, while
creating a genuine relationship with their customers.
• Do Use Social Media As A Supplement. Social media is
a great tool, but it’s not the “be all end all”. It’s important
to integrate things like social media with the rest of your
marketing strategy. Social media shouldn’t be your only
marketing tool, nor is it a stand-alone solution. For best results,
your social media should reinforce the messages and offers you
provide through your Web site, traditional PR, direct mail and
other marketing tools.
• Do Engage In Conversation. People turn to social
networking sites to learn about your company’s products and
what others are saying about you. Meanwhile, you can bring
value and expertise to the conversation, proving your company
is a good place to do business. The real power of social media
comes when it’s used not as a broadcast tool, but as a medium
for conversations, two-way dialogue and feedback. Engage
your friends and followers on topics related to your business.
Find out what’s on their minds and what’s keeping them awake
at night, and then look for ways to refer them to resources.
• Measure Your Success. Bringing your efforts full circle is
important, not only to understand whether you’re meeting
your goals, but also to gain insight into potential adjustments
and improvements. Though your metrics should certainly
include “fan” and “like” growth, it should also take into account
success achieved through content sharing and messaging.
• Don’t Be Stupid. Just as easy as they can build up your
business, networking sites can bring down your business.
Don’t forget that everything on the Web is public. There
are no secrets on the Web, so never say anything that
you wouldn’t like to see quoted on the front page of the
newspaper (or the top of the search results on Google).
Slander and libel laws still apply.
Some excerpts taken from http://www.dealermarketing.com/
Barbados Business Catalyst • July - September 2010
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