A decade back, social media was a lesser-known phenomenon. With time, it emerged as a handy online tool to keep in touch with friends and family over the internet. Wikis and blogs gained momentum but largely in the context of personal use or for informational purposes. Since then, the social media scenario has changed every year, for the better.
While businesses were earlier reluctant to try social media, it’s now emerging as a norm rather than an exception amongst business owners across a variety of vertical segments.
SFU Social Media Study
A recent research from Simon Fraser University evaluates the level of commitment that businesses must make if they want their brands to succeed via social media channels like Facebook, Twitter and YouTube. Unsurprisingly, the research concludes that social media is no longer a choice in the business world.
Businesses need to engage with their customers through social media channels despite the inherent risks involved in ceding control of their brands to social media channels. Half hearted measures usually fetch half as good the results and social media is no exception to that rule.
The SFU research is based on extensive academic research conducted by PhD students Kirk Plangger and Anjali Bal in the areas of e-marketing and technology adoption by organizations.
My Thoughts
While I agree with some of the findings from SFU’s social media research, at the same time, I believe the business world hasn’t matured enough as of now for social media to emerge as a necessity rather than a choice. There’s a serious lack of social media education in the enterprise world, more so amongst the small business segment.
It’s true that social media lip service won’t do any good to a business. However, do a majority of small business owners know how to leverage Facebook and Twitter for a two-way engagement with their customers. Despite being an active social media loyalist and practitioner, I’m forced to say that there’s still plenty of work to be done.
Sure, the business world has shown its “willingness to participate” in the ongoing social media revolution in bits and pieces, but it lacks critical mass in the small to midsize business world. I have no doubt that we’d eventually get there in a few years from now.
Social media is here to stay and evolve. While it’s currently a choice for small business owners, it would eventually be a necessity sooner than later. If you’ve still not tapped social media as an opportunity for your business, now’s a good time as ever to do so.
What are your thoughts on social media adoption in the small business world? Please share your opinion by leaving a comment below this post.
Adoption of social media within the small business community in the UK is definitely slow. It is not yet seen as a necessity by any means – in fact many seem to still see it as a luxury expenditure item, and are anxious to see ROI measured in terms of sales.
But as a new generation of business owners grow up in a world dominated by Facebook, it will be inevitable that social media becomes the platform for them to communicate in all aspects of their lives. It will be second nature to them to promote their business on social media. Making it all the more important that the current generation embrace it soon, or be left behind as dinosaurs.
I certainly agree with this research and your opinion. Thanks for putting this out there… it provides more credibility to my company which is out to serve these small-mid sized companies with their social media efforts. @LIPIraleigh
My concern is the complete lack of education regarding social media. Yes the landscape is changing everyday, but some companies just want the Facebook page and ‘share buttons’ on their websites for the sake of it. As soon as a negative comment appears they want it deleted. What’s the point in that? As PR companies I think it is VERY important to sit our clients down and explain to them exactly what it is that will be expected of them. If you don’t want to address the negative feedback (which is of course happening online ANYWAY regardless of your Facebook page) then don’t jump into the world of social media and have an email where people can complain away and you just ignore them (of course this is not what I would recommend haha)
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I don’t know if it is a MUST but it certainly can be an oportunity that one MUST consider. It is absolutely not interesting for every type of business.
A good read.
Social Media, used correctly (and sadly few companies are using it correctly) is an indispensible tool for most small businesses. It is an efficient and effective tool for branding initiatives such as PR, marketing, sales, CRM, strategic relationship development and recruitment.
In addition to using it correctly, companies must invest in the resources and talent required to manage the tool. It is not about the technology it is a culture.
Social Media has completely leveled the communications playing field and gives Malaysian and Asian firms a wonderful, perhaps never to be repeated chance to leapfrog more established western brands.
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