What’s the Value of Social Media for Business?

What’s the value of social media for business?

What’s the Value of Social Media for Business?

What’s the value of social media for business?

Remember that day when the world stopped, and you had no choice but to turn to social media to ensure you kept your business going?

OK, not everyone did that, and the ones that didn’t, based on the people I’ve been talking to recently, are the ones that have struggled or gone out of business. The ones that did – they’re the ones that have grown and are seeing each month break the record of the previous record-breaking month, or they’re growing their teams exponentially.

The issue is, now that we get to go back face to face environments in business, I’m already hearing that line… “I don’t have time for social media”. I had really hoped that we’d turned a corner and that more business owners would have seen the true value of social. 

So despite the fact that for many social media has been a lifeline since March 2020, why is it that social media is being deprioritised?

Social media ROI versus the Social media ROI

It all boils down to this… it is so hard to see a direct return from your social media efforts (unless you’re in e-commerce), and few businesses look at the big picture, not only in terms of the general KPIs of their business but also beyond that. They ask what the return on investment is – but view social media as a cost. (I’m trying to think of an analogy to explain why this is ludicrous, but it’s early morning, and I’m stuck on a train journey that doesn’t seem to be ending any time soon, which is a nightmare for someone who gets travel sick when they’re reading/writing on the train!)

Instead, why can’t we look at return on interest? If you can get enough of the right people interested in you, then *BANG* your business will change. Don’t believe me? Next time we meet, ask me, and I’ll tell you my personal story. If it wasn’t for social, I’d still be a farmers daughter waitressing somewhere in sunny Oxfordshire!

Instead of looking at how many £££s have appeared because of that one LinkedIn post you did two weeks ago, look at how much more business you’re converting. Look at how many more leads are coming through your business due to unbeknown sources, how many more introductions are being made to you, how many more people know who you are when you walk into a room. The change in opportunities offered to you by the people you know already… the list goes on and on!

But, of course, this is only the case if you’re targeted and really thinking about who you’re targeting, what you’re looking to achieve, and sticking to the plan.

Managing social media for business is time-consuming

Here’s the other problem, we’re all busy! Social media is seen by many as a time suck – mostly because the reward is so intangible (see the point above!). Truth is, social media IS a time suck if you don’t have the right practices in place to minimise distractions and the right systems and software to ensure your time is spent efficiently. It should be invested in, and you should be looking to see your investment grow. As with most things, the more you invest, the quicker you see the return on social. So think about what that investment looks like.

Tip – our entry-level outsource package includes 10 hours of dedicated time over the course of a month, and that’s only looking at one social media channel. 

Social Media Management packages

Social media doesn’t work for me

Social media works. It can work for anyone and everyone, irrespective of what you’re trying to promote. A product, a service, a personal brand… it works. The issue is more closely linked to the fact that YOU can’t get social media to work. Yep, I said it. It’s a you problem. So how do we fix it? 

For most, it comes down to time. I briefly mentioned it above, but I’d suggest to effectively run a social media platform and see results, you need to dedicate around 10 hours a month. As you add more platforms in, the time gets more efficient, so don’t take that as 10 hours for each and every platform! If you’re spending 15 minutes a week, if and when you can squeeze it in, then nope. You’re unlikely to be able to get social media to work.

Then there are those who just don’t like social; they have a love-hate relationship with it. What I mean by that is they love the potential outcome, but they’re just not enthusiastic and see it as a chore. I’ll be honest, if this is you, then I’d wager the people seeing your content will be feeling that. If you’re not enthusiastic, why should your audience be! You’re likely selling in every post, and let’s face it, no one wants to be sold to, and even if you’re being sly and sneaking it in… we can all still see it!

Then there are my favourites among you… you’re ready to commit. You want to do it, but hovering over that button so that your well-crafted message gets shared with the world fills you with anxiety. I say well-crafted because you’ve been sweating over that post for days, overthinking it, worrying in case people won’t like it, paranoid you might offend someone.

So it doesn’t work for you because despite you putting the effort in, the output doesn’t align. (These are my favourite people to work with. Wow, I’ve seen some businesses change once we’ve tackled this block!).

Let’s wrap this up… I’m getting distracted!

When the world stopped, businesses took hold of their social media, committed and started to see results.

The things I mention in this article were pushed to the side and forgotten about. There’s so much conversation around the changing world of work, hybrid working, etc., because people don’t want to go back to the old way of doing things.

May I suggest you take the same approach with your marketing. Don’t go back to the old ways, habits, or attitudes. Social media works when you work it.

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