Eric Basu, Contributor
Image via CrunchBase
I took a class this week at the UC Rady School called Social Media Strategy Workshop: Using Social Media as a Competitive Advantage in Business. The class was aimed at marketing and non-marketing focused professionals who want to understand how to set a social media strategy for their companies. There were a number of entrepreneurs present, including a Pizzeria owner and a former Navy Explosives Ordnance Disposal expert who now owns a company doing similar work for the government.
The greatest advantage of the class, in my opinion, was that is was not taught by a career marketing professional, nor was it taught by a social media maven/diva/hipster, but by a business person. Terry Williamson is a serial entrepreneur and business executive from software companies, website development companies and consulting firms. He got into social media just a few years ago because he could see the potential of it to make money for companies that are not social media plays, but “old economy” (if using that term isn’t dating myself too much) companies that make their money from selling hard goods.
My take away from this class is that social media can be a critical tool for entrepreneurs, if done correctly and according to specific, measurable goals. Entrepreneurs, as a whole, run the continual risk of succumbing to “entrepreneurial ADD” and chasing every “shiny squirrel” (favorite term of my BD lead) that runs across the road in front of them. If a pizza shop owner, as an example, becomes so focused upon populating and checking their Facebook, LinkedIn, Twitter, etc. accounts that they stop paying attention to selling pizzas at a profit, that’s a bad thing. The entrepreneur needs to have specific, measurable goals for social media that stem from their core business goals (i.e. increase customer traffic by 50% on weekdays, increase sales of higher margin items by 25%, etc) and use very targeted social media campaigns to achieve those goals. They need to avoid the tendency to do any more than that, or to chase non-tangible goals such as “increasing brand awareness”. If done correctly, the campaign will have non-tangible benefits, but you have to aggressively target the tangible, measurable benefits to be able to determine whether your precious time and start up capital is being used effectively. ========================================================================================== Explode Your INCOME. Make more money with a powerful online Home Business. You can earn a Full time Income on a Part Time basis while keeping your current Job. When you Love the Idea of Network Marketing and Residual Income, but HATE Cold Calling & Having to Pitch your Friends and Family... You Earn cash while Surfing the Web. Earn cash for Referrals with Trusted Programs. Check it out:
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