Social media: Rewards outweigh risks
A woman asked me an excellent question about the risks of businesses using social media during a Wednesday lunch-and-learn at which I was speaking. Hopefully, she’ll see my answer here as she had to leave before I could give her an answer.
Her question: If companies engage people with social media, aren’t they opening themselves up to possible critics?
My answer: Of course, they are. But that is not a reason not to try it.
Why? Those critics have loads of places they can go to online where they can complain, hurl abuse or speak their mind about your company, products and services. If your company is not already participating in online conversations, the critic has the upper hand.
However, if you participate in social media, you can establish your credibility. If a critic strikes at you, you can — at minimum — maintain that credibility through openness, communication and answering questions or concerns. At best, you can turn a critic into a fan. Actually, that happens a lot. Check out the book “Groundswell” for several case studies where company critics became invaluable supporters of brands because they felt their voice was being heard.
In short, yes, there are risks in using social media. However, there are bigger risks if you don’t.
Hopefully the questioner will get her answer from here, someone reading this or elsewhere. The rewards far outweigh the risk — if you use social media properly.
No matter how you spell it, have a plan
Recently, I’ve been researching several marketing firms and analysts for their thoughts on how brands can connect with their customers through social media. To keep their suggestions simple and memorable, some of them have even used acronyms for their steps to build social capital. A few examples:
• Joel Davis of Britain’s agency:2 writes about KUDOS. A brand should be Knowledgeable and Useful, Desirable, Open and Shareable in its efforts.
• John Sheridan of the Canadian firm SocialMedia404 says a successful strategy must include OASIS — Objectives, Audience, Strategy, Implementation and Sustainment.
• Forrester Research’s Charlene Li and Josh Bernoff wrote in last year’s influential book “Groundswell” about the POST framework for finding the proper social strategy — People, Objectives, Strategy and Technology.
All of these strategists are excellent sources of information if you’re jumping into social media. No matter how you spell it, though, their writings make it clear. You must have a plan. More details to come.
