Having taken their first tentative steps into social media, lots of "traditional" businesses (ie, more or less anyone who doesn't work in the media industry!) worry that their effort and investment isn't generating an avalanche of new biz leads and increased revenues.
An interesting article by Mashable on the AmericanExpress Open forum tackled this subject recently, citing worrying data showing that visitors arriving on corporate websites from Twitter and Facebook are usually viewing only one page: and it's usually the blog (or other piece of free content), not the Contact Us form.
Unsurprisingly - as it is the in house encyclopaedia for the digital media industry, and has vested interest in encouraging "traditional businesses" to carry on spending marketing money with its readers - Mashable concluded this was NOT a problem. [And quoted the irritating, woolly and misleading aphorism from the former President of CBS News, who wrote in the Harvard Business Review last year that "every company is a media company" - is that all it takes to get into the HBR???]
So is social media worth the effort - particularly for B2B businesses - if it doesn't seem to be making a difference to business lead generation?
I think it does, and here are just five very practical reasons:
1) An individual tweet may not necessarily deliver an electronic trail of new biz leads to your door, but social media can generate powerful positive word of mouth among communities of potential customers which may lead to email contact or a phone call....incredibly useful for consultancies, tradesmen, and professional service firms.
2) It strengthens your bond with existing customers. Social media offers opportunities to provide after-sales support, make special offers on renewals or additional services, gather feedback, and keep your business in your customers' mind.
3) All organisations - even MI5 these days - have stakeholders in the media industry: and social media is where they are. Journalists are sourcing stories from Twitter now, not press releases.
4) Like Bovril, it's good for you. Social media forces you constantly to think about what is innovative, interesting and changing in your business and your market, so you can talk about it in real time.
5) It's an easy, relatively low cost way to give your brand additional identity and meaning. Every piece of social media content you create and interaction you have is an opportunity to define your business from its competition: as a trend-setter, an practical expert, a thought leader, or just plain contradictorian....
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