Social media is hot, and there’s no doubt about its viability as a marketing tool. The unfortunate thing for small business owners is that – because it’s a new and popular – there are thousands of so-called social media experts out there peddling their services as the key to marketing nirvana. Because of the vast amount of wolves prowling around in social media expert clothing, when should businesses take the plunge into social media marketing and when should they stick to traditional methods?
New in the biz
New business owners and entrepreneurs should learn the basics of traditional marketing. Why? Because traditional marketing teaches the fundamentals of customer research and sales. Creating ad words, cold calling, in-person networking, and so on deliver tangible results and you can see quick ROI and make changes to your marketing strategies accordingly. In addition to all of those, the new business owner is able to figure out just how much time and capital they have available to spend on their marketing efforts. This is very important to know prior to entering the social media realm.
Pros:
- Can easily see the ROI via clicks throughs/conversions, calls from magazine/news ads, etc.
- Shows quickly whether your strategy is viable and where you can change.
- Easy to set up (you just pay for it and create your ads, etc.).
Cons:
- Can be expensive.
- You must actively seeks clients/customers.
- Many traditional media outlets are becoming obsolete and ineffective.
Social Media
Marketing with social media is not a wand that magically attracts customers to your business. On the contrary, the beginning investment is extremely time-consuming. Sitting in front of a computer – conversing - may not be expensive, but it can seriously eat time. Rather than investing money, with social media you are investing yourself. It may not sound like a bad thing to try, but a business owner needs to take into account that cash flow and active clients are necessary to keep a business alive. If you are talking to people without a goal, and without a marketing strategy, you are toast.
A great thing about social media is how you can use it to get involved in your community. Tweetups, events, and other meetups are a great way to network. Most of the time these networking opportunities are free. Also, many high-profile individuals are on social media, making it easier to potentially connect with them.
Pros:
- Free.
- Tweetups and other meetups can be a great way to meet potential clients
- Many popular professionals are easier to communicate with.
Cons:
- Can be a huge time waster.
- Tons of so-called experts.
- ROI is hard to determine in the beginning stages.
Conclusion
This is a purposely a short and non-detailed primer. As with anything, choosing when to implement social media depends heavily on where your business is in terms of maturity. If you don’t have active clients, you should probably focus on traditional methods in order to develop your market strategy. If you’ve been around a while, social media is probably a great and inexpensive next step!
Related articles
- 5 Surprising Social Media Business Success Stories (mashable.com)
- HOW TO: Attract New Customers through Social Media Events (windmillnetworking.com)
- Myth: Social Media Will Replace Traditional Marketing! (socialmediadudes.com)
- Does the IRS Want to Restrict Nonprofits Use of Social Media? (windmillnetworking.com)
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