Day 7: Social Media and the Small Business

Social media can make all the difference for a small business and yet for the majority of small business owners I’ve spoken to it is simply another frustrating stressor.

As a business owner you need to be focused on what you know will get you that a return on investment. You barely have time to eat lunch let alone to figure out how to optimize (whatever that means) your LinkedIn Page or whether you should be on Instagram.

You keep telling yourself that you’ll figure out social media once you grow a bit bigger. But let’s be honest, we both know that once you grow bigger you’ll have a whole new set of concerns around ROI and once again, social media marketing will not make the cut.

It’s the small business owner’s dilemma: you know you need to invest in social media but every minute you invest in trying to set up your unproven social media strategy, is time away from tried and true activities that you know will net a given ROI.

Moreover, getting that ROI from social media is much more difficult than it was a few years ago. In the age of the algorithm and content saturation it’s no longer enough for you to simply have a LinkedIn Page, Facebook Profile or Twitter handle. To really see ROI you need to be in the right place at the right time serving up the right content for the right audience.

This typically leads to a business owner hitting a total breaking point and making one of the following very un-strategic decisions:

  1. Delegation: ask your most millennial-looking employee to get your company on social media then get irritated 6 months later when they leave and you realize you don’t know any of the passwords.
  2. Throw money at it: Invest in a service that the sales person swears will fix all of your problems by means of an intricate proprietary algorithm powered by flying blue monkeys (you have a suspicion that you got that last part wrong but it was only $29.99 a month and surely it must do something helpful)
  3. Avoidance: Forget social media. Just forget it. There’s no time. It’s all too much. We’ll figure it out later.

What these 3 points have in common is a desire on the part of the small business owner to solve what they feel is a problem without educating themselves as to the actual nature of the problem. But I get why this occurs. Social media feels overwhelming and when you already have a full plate as a business owner it seems impossible.

The problem is that for social media to actually benefit your business, you need to be directly involved in the strategy at least in the beginning. Social media allows you to communicate to your customers and potential customers. It’s a way for your build up a community that you can tap into throughout your sales cycle. The right social strategy can provide a much needed cushion when you experience dips in sales. But that can only occur if you set up your strategy to do that ahead of time. And that takes your commitment to work with a trained professional who can provide the following solutions for you:

  • Education as to how your business goals could benefit from social media investment. Every business is different and you need to know what’s attainable and what’s not.
  • Realistic assessment of needed investment based on the goals you want to set (some industries are harder than others!)
  • Setting clear performance indicators pegged to your ROI goals that you can monitor to know how you’re doing at any given time.
  • Creation of social media plug and play process that you and your employees understand and can follow.

As the daughter of a small business owner I know all too well the sheer enormity of this task. So here’s the thing, if you’re not in a place where you can invest some upfront resources (your time and money) in a strategy then make the ROI- motivated decision to stay off of social media. BUT, so that you’re not going back into avoidance, create a calendar reminder with a link to this blog post for next quarter when you’re going to do a ROI-motivated reassessment of that decision.

With the right strategy social media CAN be a game changer for your small business. 

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