Social networking, is it really worth it?
LAST week Facebook, the social networking site, announced it had surpassed the 500m-user mark. So if you want to reach half a billion people then you should sign up, right?
It’s easy to get swept up in the buzz that surrounds social media, but does all of that posting and tweeting really have an effect on a company’s bottom line?
Perhaps, says Jag Singh from MessageSpace, the online political advertising website. He says that consumers are more demanding these days and social networking is a good way to cater to these demands. “There is lots of interest in how companies are run behind the scenes – how a product gets made – and social media is a great way for consumers to access this information.”
Ben & Jerry’s is a good example: “It devised a marketing campaign directly for Twitter and Facebook and invited customers to devise new ice-cream flavours. It was a great way for an established company to build an affinity with its brand, which they hope will convert to an increase in sales of its ice cream,” says Singh.
But does it work for a small company? Lexi Proud, the founder of online dating website ArrangeMeADate.com, has recently launched a Twitter meme called #getbritaincourting. For the last two weeks, Proud has tweeted dating advice throughout the day and, so far, it has been a success. “People have been following us on Twitter and then going to our website,” she says. And it has already had an effect on her bottom line: “Hits on our website have risen substantially and since the Twitter campaign was launched we’ve seen a 12 per cent increase in membership.”
But to get these results you have to make sure it is worth your followers’ making the effort and visiting your website. For example, Proud is running her Twitter campaign alongside a promotion for a month’s free membership to ArrangeMeADate.com. Singh says that if you want social networks to work for your business then you have to treat them as you would a more formal media campaign: “It’s a science. You have to squeeze as much as you can out of your customers. So if you are using social media to get people to visit your website then you must make sure that it is perfect and functioning correctly.”
To harness the power of social networks make sure you apply the same level of commitment, skill and professionalism as you would to any other marketing campaign.