Is Social Media a big company’s game?

17 Jan

Thanks to a successful first Social Media Open House, we have a second planned for the first week of February.

The companies that attended the first were small businesses. I have seen many of them take to social networking sites with gusto. My question: are they getting any ROI from it yet?

Big companies can afford to be patient while their SM efforts bear fruit. They can even dedicate resources to it. Not so much with the small guys.

Although SM is ostensibly free media – and small businesses have smaller marketing budgets – it takes person-hours to implement and monitor the strategies. There are unquestionably more immediate ways to boost sales if you’re just taking the plunge into social media waters.

But my advice is to stick with it regardless of the slow early returns. Look at Rod Phillip’s success with Liquor Plus. He’s a stellar participant on Twitter and is successfully transitioning traditional media out of his marketing mix.

Ultimately, that’s cash in the bank.

Advertisements

4 Responses to “Is Social Media a big company’s game?”

  1. Mike Boyle January 18, 2010 at 2:03 pm #

    I know that setting up and implementing the social media for the Bard and Banker has taken a number of hours out of my day once I had figured out a routine it became a lot easier. The element that I prefer with using Social Media is that it is directed at a captive audience who is truly interested in your business and I find it a much more efficient way of spending marketing dollars.

  2. dougbrowncreative January 18, 2010 at 2:25 pm #

    Absolutely right Mike, you can have ongoing conversations with people who are fans of your place and learn what makes them fans. You can reward them for their loyalty too, which further increases your referability. Glad to hear you are getting good traction from it.

  3. Susan Jones January 19, 2010 at 7:41 am #

    Through Social Media I have secured several new accounts.
    Was it Social Media stand alone that cinched those new customers?
    No, without SM however I may not have had the ‘opportunity’.

    Great blog – thanks for the share, and the invite to participate.

    Sincerely,
    Susan Jones
    Sr. Acct. Manager – Monk Office

  4. dougbrowncreative January 19, 2010 at 9:49 am #

    Susan, congratulations on your success. It would be terrific if you could come to our next Social Media Open House. Perhaps you would share your story with the group. Nothing better than hearing from someone who has put in the time and reaped rewards. Thanks for the comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s