The Four Big Social Media Mistakes Your Company Is Probably Making
While the vast majority of large and mid-sized businesses have been engaging in social media outreach as part of their marketing strategy for at least five years, nearly half are unable to pinpoint any impact this marketing has had on their bottom line.
Recently the Harvard Business Review ran The Basic Social Media Mistakes Companies Still Make, which notes that although 97% of Fortune 500 companies are on LinkedIn, 84% are on Facebook, and 86% are on Twitter, many brands entered the social media realm without a clear strategy. And without any strategy, you’re going to end up with a lot more mistakes than success. You may not be running at Fortune 500 company, but your sustainability business can certainly learn from their mistakes.
MISTAKE #1: Creating a Facebook, Twitter or LinkedIn account and setting goals for increasing “the numbers of likes, comments and shares.” It may seem promising, but “likes,” comments and shares are probably not worth much to your income. If you don’t connect your social media actions to broader business goals from the beginning, your return on investment (ROI) becomes elusive, and social media becomes an end unto itself.
MISTAKE #2: Limiting brand preference. This means focusing entirely on Facebook or Instagram or whatever social media channel you feel is the most popular instead of implementing a multichannel outreach strategy. Looking back to the Fortune 500 companies, only 66% are using YouTube, 45% are on Instagram, 36% have corporate blogs, and even less are on Pinterest (a mere 33%). If your business choses not engage other platforms, you could miss out on valuable business opportunities.
Research by Millward Brown Digital found that 93% of Pinterest users planned purchases on the platform and 87% actually made a purchase after seeing a product they liked. Utilizing a platform like Snapchat might be the ideal way to reach millennials and Instagram has played an integral role in helping to lift sales for multiple brands. Super important stat: business that have prioritized blogging are 13 times more likely to receive positive ROI.
MISTAKE #3: Only pushing information out. While you need to engage your customers with stories that evoke emotions, solve their problems and help brighten their day, the best — and most underutilized tool — is responding to your customers. Replies to comments — even negative comments — can help bolster the image of your brand. And engaging lets your customers know you are listening.
So how do you make social media work for your business? Let’s start by basing your social strategy on business objectives — not just gaining more followers or “likes” — follow up on that by thinking about who your target market is, what social media platforms will best reach that group, and the tools and metrics that can help you achieve those goals. Focusing on increasing brand awareness for a certain age range during a specific time frame? That is an actual business goal, one you can achieve!
And when you are considering which platforms to utilize, remember more is not always better. If a social media outlet doesn’t seem to vibe with your business objectives, it might be better to post less or even close that account.
MISTAKE #4: Not tracking analytics. There are a number of social media options when it comes to analytics, so take the time to research those options and find what makes the most sense for your business. If you can see where your efforts are working (and where they are not making much impact) it will help you focus your attention in the areas that are improving your bottom line.
Social media and sustainability go hand in hand. Utilizing the right social media channels will give your company the chance to expand engagement, transparency, rethink societal roles, and more.
Looking for an example? Take Toms, the shoe company – Toms has utilized social media to promote initiatives such as One for One. And once a year they have a One Day Without Shoes campaign which last year provided shoes to over 27,000 children.
Establishing a social media strategy that is business oriented may seem overwhelming, but if you take a step back and remember to take your business goals and target market into consideration, it will be much easier to prove you are seeing ROI via your social media activities. Not just a few more thumbs up each day