Can Your Business Afford to Avoid Social Media in Today's World?

If you own a business or if you are considering starting your own business, a big question that you should consider asking yourself is whether your business can afford to avoid social media - specifically, strategic use of social media. We are no longer living in a day and age where only a few businesses are engaging social media and the rest can push the thought of Facebook, Twitter and the like to the side as just websites "for fun." The business world is already competitive, and social media has literally raised the stakes in just a matter of a few years as more people around the world increasingly spend more time on a daily basis using social media platforms and less time engaging in traditional media platforms like radio, television and print media like newspapers and magazines. If you want to get in front of your ideal consumer and expand your brand and exposure (and ultimately, increase your revenue stream), it is important to consider whether you're leaving money on the table by avoiding social media altogether. 

Some businesses may assume that they don't need social media at all to be successful. To some degree, certain businesses are correct. For example, doctor's offices, law firms, and popular real estate firms are an example of businesses that don't necessarily need social media in order to remain profitable. But that's not to say that they're not leaving money on the table. People are increasingly using the web to search for and read reviews about doctors. More law firms today are advertising their services on Facebook in creative ways to gain the trust and confidence of younger generations. Many real estate firms today are also marketing their services on various social media platforms in order to increase brand recognition and attract customers. In essence, many businesses today that would traditionally be immune to the world of social media are becoming more competitive with marketing their services through various social media platforms and maintaining a positive reputation online. It may therefore be fair to say that businesses that choose to ignore the Internet all together and maintain a viable presence online may lose money to competing companies that are actively engaging their customer base. 

Let's hone in for a second on the word engagement. Social media allows businesses to engage with their customers on a semi personal level where traditional media outlets speak at their consumer, rather than potentially having a dialogue with their consumer. Social media gives you that opportunity to hear what your consumer wants and what their needs are rather than based on the assumptions of what your marketing executive says about what your consumer wants. It truly amazes me how many times I come across company Facebook pages that try to operate as though traditional media and social media are the same and continue to speak at the consumer on websites like Facebook and Twitter, rather than taking the opportunity to have a dialogue and actively engage the consumer. 

According to JeffBullas.com in his blog post, "The Latest 27 Social Media Facts, Figures and Statistics for 2012 – Infographic" (Nov. 28, 2012): 

• 350 million plus users suffer from “Facebook addiction syndrome”
• If Twitter was a country it would be the 12th largest in the world
• LinkedIn signs up 2 new members every second
• The average visitor spends 15 minutes a day on YouTube
• Three million new blogs come online every month
• 97% of the fans on Pinterest’s Facebook page are women
• 5 million images are uploaded to Instagram every day
• The Google +1 button is used 5 billion times every day

We are now living in an increasingly social world where you are competing for the attention of your consumer. While you may not necessarily feel the need to actively engage your consumer on social media at this time, the question about whether you choose to use social media for your business may soon evolve from an "if" to a "when." And while you ask yourself this question, consider your competitors' strategic use of social media at this time and how you plan to position yourself within the paradigm shift taking place in business marketing in today's competitive climate.