Is Social Media right for your business? Will your business get a reasonable return on your investment of time, cost, energy? Applying the acronym CRAP may be useful in clarifying your decision.
Considering business development, it takes the same amount of effort (resource, cost) to market and secure customers who have a higher spend. I.e. Those who will use a $500 services versus a $100 service. So where do you find the higher spend customers?
The effort you put in must help you achieve your business goal. In the case of social media, it takes a large amount of effort to do it correctly to be effective. If the end result doesn’t meet your goal, would you be better off putting that effort to other activities, e.g. targeting existing customers rather than chasing new ones?
If your role is to bring in the income and develop new customers, is social media the best use of your time? (Likewise, should you be fixing the copier, working on admin, etc, when there are other less ‘expensive’ team members available to do such work). Keep your role objective front and centre and always ask, is this the best use of my time?
Are your efforts directed in the right location? For example, advertising in the right media where your ‘target’ customers are looking? If your demographic is mature decision-making males, is Facebook the right place for your efforts? Not likely. Just because social media is the ‘in’ thing right now, does not mean it’s the right place for your business efforts.
Article written by Dale Cowie
Thanks to Debbie – for more of her tips and 500-plus how-to articles, see www.successis.co.nz