by Davin Broadbent

It seems to be impossible to talk about social media without using a bunch of words that didn’t exist 15 minutes ago but in order to try and bring some clarity to this often overwhelming space I thought that I would try to outline a few simple facts around social media for business.

Fact #1  It’s not for everyone

There is a lot of “FOMO” (fear of missing out) when it comes to Social Media and this may be why Facebook and Twitter are so popular, but are you really missing out if your business doesn’t “do” social media? As a marketing tool by itself social media can still leave a lot to be desired. It is a great way for people to interact with your brand but not every brand or business needs this. As more consumers shift their behaviours however it is becoming increasingly important for business to be aware of social media and the opportunities it presents.

Fact #2 It is all about content

Social media marketing efforts usually center on the attempt to create content which attracts attention and encourages readers to share it with their social networks. This type of marketing can be valuable because it closely mirrors the more traditional “Word of Mouth” marketing or trusted peer review.

Fact #3 Cost is not a barrier to entry

Social media is available to anyone with an internet connection or a smart phone. While there are many tools that make social media easier to manage or monitor and there are some key skills that can really improve content, there is no obligation to pay for any of these things.

Fact #4 There are a lot of different sites for a lot of different reasons

Platforms such as facebook and twitter are really only the tip of the iceburg when it comes to social media. Most of the applications can be loosely broken down into the following areas. for more information click on the wikipedia link below for a comprehensive list of major social media sites including a description/focus and their ranking.

• Communication
• Collaboration
• Entertainment
• Multimedia
• Reviews and Opinions

http://en.wikipedia.org/wiki/List_of_social_networking_websites

Fact #5 Social networking now accounts for 22% of all time spent online in the US

quoted from http://blog.nielsen.com/nielsenwire/global/social-media-accounts-for-22-percent-of-time-online/

Fact #6 Social Media is also a customer service channel

More than just a marketing tool social media is being viewed by consumers as a way to engage with businesses and further to that many consumers expect those businesses to listen and respond. It is the value of these responses that determines strength of the relationship. It pays to remember that what happens online stays online and it is almost impossible to retract ill considered statements.

Fact#7 Social Media is a news breaker

With increasing frequency news is broken first on social media, before it makes its way into more traditional channels. This makes social media an incredibly powerful resource as evidenced by the recent 2011 Arab uprisings in which social media played a leading role.

Fact #8 There have been a massive rise in the number of Technology Patents related to social media.

So this fact could also be titled “Social Media is not a fad”. Many organisations both large and small are investing significant time and money into social media. So while social media will certainly change and evolve it will not go away.

Fact #9 The number of social media users age 65 and older grew 100 percent throughout 2010, so that one in four people in that age group are now part of a social networking site

quoted from http://www.cbsnews.com/stories/2010/11/15/national/main7055992.shtml

Fact #10 Social Media takes time

It is not a set and forget promotional tool like many organisations still regard their websites. Social media needs genuine involvement and time. If you are not prepared to spend the time or make this effort, then before you embark on a social media drive you should seriously consider a strategy that involves someone who will.