The first way to get the most out of your social media activity is to understand what it is and what it is not. Once you have mastered that, you’ll be able to get more out of it.
What is social media?
In a nutshell, it is a way of communicating with people, such as your target market. It includes the likes of Twitter, LinkedIn, Facebook and blogging.
Unlike some other forms of communication, social media allows a two-way communication. If I had written this article in the old-style Mortgage Solutions, you would not have had the opportunity to write comments at the end, as you do here.
It’s an extension of PR
I like to think of social media as an extension of PR. The trouble is most people seem to think PR is just about press relations. It is called public relations for a reason; yet even established PR agencies seem to miss that point.
Now I say it is like PR, because good PR is about thought leadership; it’s about telling and not selling. It’s about raising issues and thoughts in the market place, rather than flogging a product or service.
If you want to get the most out of social media, treat it as part of your communication mix.
What it is not
Social media is not a sales channel. It is great for generating awareness, engaging with people, assessing the market mood and keeping in touch.
However, try to sell through it and it is likely to backfire.
Have a strategy
Do you remember when the internet first started to take off? People had access, but then did not really know what they were going to use it for.
For many, it is the same now with social media. People jump on the band wagon and sign up for the likes of Twitter without knowing how they are going to use it. You must know why and how you are going to use social media, otherwise there is no point.
Integrate it
There is little point having your social media work in isolation. It must be joined up with other communication activities. Start with who you are targeting, what is the big message to deliver and then work out the best way of delivering that message; social media may not be the most appropriate way.
Be “on message”
I often see Tweets and LinkedIn updates that could potentially do more damage to that organisation than good. Don’t write nonsense or have private conversations in public. Make sure your messages are aligned to your market positioning and key messages.
Be open
Some people fear social media because it opens you up to negative opinions. At least with social media you can read the negative comments and address them; with other forms of communication that are one way, you would never really get to know their negative thoughts.
Look good
With social media, you are exposing yourself to the world. So make sure that your LinkedIn profile, for example, gets across who you are and what you do in a professional manner.
Use it
If you see social media as a strategy, then use it well. Don’t pop in and out when you have a spare five minutes, make it part of your strategy and plans. That does not mean using it every day, but have it planned into your week.
Don’t over-use it either. I see some people putting an update on LinkedIn five times a day and I just switch off. Join groups in LinkedIn and don’t be afraid to start or join discussions. Most of all, use social media as a way of listening to what the market is saying.
But what about regulation?
I don’t think that there has been enough help from the regulator on this subject. It is easy to say what you can’t do, but let people know what they can do.
Keep your communications clear, fair and not misleading, naturally. Also, remember the point about telling and not selling. You may find an interesting article on a regulated website, which you feel your customers would like to read and point them to the site. That’s fine.
Put up a message saying that you have the cheapest products in the universe and then you might be in a spot of bother.
Simply treat communications through social media as others and the good thing is that you always have a record of such communications.
So, overall, to get the most out of social media, don’t be scared of it. It is simply a tool for communicating.
Jeff Knight is managing director of Tonic Marketing
