As powerful as social media is perceived to be there's still quite a bit of mystery that surrounds it. Brands recognize that they need to be involved, but they're struggling with assigning a dollar-value on social media exposure and how it equates to revenue. Because there aren't any tools or systems in place that can spit out data on a company's return on investment (ROI) for increasing its Twitter followers many businesses find themselves wondering if they're just spinning their profit wheels in a social media mudslide.
It should come as no surprise that brands small and large share common concerns regarding social media. Even though concerns may be similar brands should be aware that they'll need to exercise different strategies depending upon whether they're B2C or B2B. Aside from defining goals and strategies, here are some of the social media obstacles that may confront brands.
1. Choosing the right social media channels.
Brands that know who their target market is and what communities they belong to can integrate those niche social sites into their strategies. Using a blend of social media dominators like Facebook and Twitter with other focused social sites might be a good launch point for some brands. The truth is that the right social channels are the ones where your audience engages itself and that are also right for your brand.
2. Converting fans and followers into customers.
You might be surprised to find out that most of your brand's supporters are already customers. These people have interacted with your brand on some level and they're proudly supporting it by liking, following or subscribing to the news that you share. Make it worthwhile for your brand loyalists to enjoy special perks, discounts and sneak previews that others might not be privvy to. Preferential treatment isn't a bad thing in the land of social media. When word leaks out that your brand awards BOGO offers to Facebook fans each month you can bet that it will be taken advantage of.
3. Creating impactful social media campaigns.
Often brands will find themselves in a creative rut and unable to pull together a meaningful social media campaign. No matter who you are take comfort in knowing that we've all been there and this is a challenge that will probably surface from time to time. When you plan a campaign try to build it with your audience in mind, not for yourself. Remember that a campaign isn't a press release or a widget - it's an actual strategy. Position, objectives, strategy, tactics and key messages are the core campaign components. Layer in video, blogs, newsletters, PPC and other elements to make your campaign memorable, and sustainable.
4. Managing social media productivity.
One of the most commonly quoted challenges from brands is not being able to budget time and productiveness for social media. Without a plan in place, social media activity can be a major time suck. Execute each social media action with an objective in mind and keep your focus on the task at hand. If you're responding to customer inquiries on Twitter, only respond to customer inquiries. Avoid jumping over to LinkedIn to see what your groups are buzzing about.
5. Increasing subscribers and fans.
Hands down this is one of the biggest challenges for all brands. Unless you're a brand that's been arounds for decades or who has a national presence like Starbucks or McDonald's, you're not going to have millions upon millions of fans. Keep scalability in mind and don't get caught up in what other international brands are doing. Next, remember to share information that your audience would like to know and would appreciate having. This doesn't mean an endless barrage of details about your brand. It means pulling good, credible data from other sources and funneling it down to your loyalists.
There are plenty of other challenges that brands are facing and will continue to face. This is just a handful to get your wheels turning and to think constructively about how to overcome them.