Social Media and Business
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I was so excited about this week's topic, social media! I am a social media junky - I am constantly keeping in touch with my friends via Facebook, and I love sharing funny tweets. Social media has always been my favorite module of any class I've taken, and I enjoyed learning about how businesses can benefit from joining social networks as well.
Social media is content that is created, shared and commented on by a broad community.
Goodwin.com has an informative outline of all social media types and how they can be used. Some examples are as follows: blogs, wikis, social networking sites (Facebook, Linked In, etc.) and microblogging. These are fun personal tools as well as highly beneficial business tools. So how does a company go about getting involved and do the benefits really have good return on investment values? It's easy, and yes.
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When deciding which social media networks are right for your business, it is important to remember that the idea is
quality, not quantity. Professor Means offered the folling questions to serve as the foundation for kicking off a social media campaign:
- Who are you?
- What is important?
- What are the characteristics of your business?
- What do you know?
- What are the barriers?
- Who should be talking?
- What is the value
- Who is your audience?
Once you have thoughtfully answered these questions, you are ready to take flight on a social media campaign! The answers to these questions will help you make an informed decision on which network your business would benefit from the most.
The next step is to make a Social Media Policy for your business. A thorough list of social media policies can be found at
SocialMediaGovernance.com. You can look at templates and get ideas for your own policy, which you MUST have. Professor Means lectured on the following guidelines for developing a Social Media Policy:
- Describe the purpose of social media in its relation to your business
- Make sure the writers/people who are in of the social media take responsibility for the content and are authentic
- Respect copyright and protect confidentiality
- Bring value and productivity
Now it's time to strategize. Taking what you learned from the answers to the questions previously listed, begin with the end in mind. Knowing where you're going helps learning how to get there with strategy. According to Professor Means, it is important to keep the following in mind:
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- Establish goals with input from stakeholders
- Determine your audience
- Determine you policy and strategy
- Determine how you will measure success
- Set your brand and framework for interaction
- Publish your input
- Monitor, measure and adjust content as needed
- Make sure you have a plan
- Take calculated risks
- Have fun!
If you're not comfortable with starting your own social media campaign you can opt to outsource the work to companies who special in social media.
Banyan Branch is one such an agency. Their entire business revolves around keeping other businesses up to date and relevant in social media so that they can achieve staying power and connect with consumers.