July 3, 2012

The golden rule of using social media for business.

Beware of the new illness that’s catching among marketers…and their bosses.  It’s called  irrational fan base envy and when it infects you, poor marketing decisions are bound to follow.

You can catch this illness from even the briefest exposure to ANY social media channel, such as Facebook, Twitter, Pinterest, and YouTube.  The infection is often triggered by media reports that sensationalize the wildly positive impact of social media as a marketing tool.  Symptoms, which mirror the frenzied fever associated with a gold rush or get-rich-quick-scheme, include:

  1. Obsessing over how many fans/followers your brand has vs. other brands in your competitive set
  2. Setting arbitrary-yet-super-high fan base targets based on absolutely nothing realistic
  3. Spending money to increase your fan base numbers without spending money to sustainably enhance the quality of your messaging content

Interestingly, social media novices are the most susceptible to irrational fan base envy and they also succumb the hardest.  The more immersed you become in marketing through social media, the greater your immunity becomes.  Why?  Because you discover that having a zillion fans does not impact your bottom line unless you engage them…and engaging them takes time and money, just like any other marketing initiative.  And it doesn’t matter if your competitor has triple the number of fans that you have…what matters is how YOU interact with YOURS.

The golden rule of using social media for business is this:  the success of your social media efforts are in direct proportion to the amount of love you put into them.  If you treat social media like a pesky item on your to-do list (“make post to Facebook today…check;  pin something to Pinterest board today…check”), you can’t expect social media to love you back.  It simply doesn’t work that way.

The only cure for irrational fan base envy is to change your thinking.  Stop focusing on QUANTITY and start focusing on BALANCE.  Engage your current fan base, so that a high percentage of them are liking, commenting, sharing, re-tweeting, re-pinning, and in many other ways becoming a messenger for your brand story.  If you achieve that, it means you’re on the right track to harnessing your fans.

Then…as you add more fans to your community…they have the potential to become more than just empty numbers that look good on a stat sheet.  They can become your brand evangelists, returning the love to your bottom line exponentially.

Just remember…as you start to change your thinking and infuse a little more love into your social media efforts…be mindful of the other golden rule, shared by Redpoint in a previous post:  You Can’t Find Love on a Spreadsheet.  Who knew you could learn so much from ordering dumplings at Buddakan?