The cost of social media
Everyone says that social media is free and if you just take a quick look, it certainly seems to be. After all, you don’t need to pay anything to sign up for most social network sites and you can enjoy unlimited hours of interconnection for nothing. That doesn’t mean it’s actually free, though. In fact, social media does cost something, your time.
As they say, time is money and when it comes to promoting your business, that really is true! The time you put into social media is a cost and for every minute you spend working on networking, you aren’t working on something else in your business. While the benefits of networking online can be huge, it does take time to see those result and in the meantime, you aren’t being paid for those hours of working on connecting with worthwhile people.
There are, of course, monetary costs, as well, particularly if you have hired someone to take on some of the networking duties for you. Keep in mind that even big companies set aside thousands of dollars for their social networking budgets. You might not need that much, but it is something to keep in mind when planning your marketing budget.
It’s important to understand this ahead of time even before you start your social media strategy, because you’ll need to be consistent with social media, even when it seems that there aren’t many results. It can take months to see the benefits and during that time, you will need to stay on top of things, spending time each day to respond to messages and communicate with other business owners, potential clients, and gurus in the niche you’re interested in. Once you’re prepared to do this, you should be good to go.
Social media isn’t free. You will be paying with your time, even if you do everything yourself. When you’re on Twitter or LinkedIn, you aren’t working on client assignments, so that means you aren’t pulling in money, usually. That doesn’t mean you shouldn’t be interested in social media or that you should consider dropping it. It merely means that you should be aware of the cost when planning your networking campaign. Make sure you take into consideration how much time will be lost from other areas of your business while you are working on social media.
Here is my new post: The Real Cost of Social Media | http://bit.ly/8Is7Dt just introducing the fact that it isn’t free. What do you think?
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The Real Cost of Social Media by @AnaRC: http://bit.ly/8Is7Dt
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RT @Sharon_Harper: The Real Cost of Social Media by @AnaRC: http://bit.ly/8Is7Dt
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Ana, you're absolutely right that SM takes time, and time is valuable.
In fact, I stress that relationship building, whether through SM or other means, requires an investment of TIME!
Ana, great points on the cost of Social Media. But headcount (time) is not the only considering factor. A great social media strategy is one that integrates with your traditional channels and this integration can add costs (minor) to your traditional efforts. For example, you may re-work your business cards to promote your blog or Twitter handle or add words to your brochure, modify your website, etc.
Yes, the non-people cost of social media is small but it does exist. And the headcount cost should be considered closely, in large enterprises is not the cost of 1 headcount but it could be several people that create, deploy and manage the strategy and there could be infrastructure implications (blog hosting, internal collaboration, etc) that must be considered. Just my 2cents.
RT @AnaRC The Real Cost of Social Media | Premier Social Media http://bit.ly/8Is7Dt
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RT @KellyMullaney: RT @AnaRC The Real Cost of Social Media | Premier Social Media http://bit.ly/8Is7Dt
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Ana, you're absolutely right that SM takes time, and time is valuable.
In fact, I stress that relationship building, whether through SM or other means, requires an investment of TIME!
Ana, great points on the cost of Social Media. But headcount (time) is not the only considering factor. A great social media strategy is one that integrates with your traditional channels and this integration can add costs (minor) to your traditional efforts. For example, you may re-work your business cards to promote your blog or Twitter handle or add words to your brochure, modify your website, etc.
Yes, the non-people cost of social media is small but it does exist. And the headcount cost should be considered closely, in large enterprises is not the cost of 1 headcount but it could be several people that create, deploy and manage the strategy and there could be infrastructure implications (blog hosting, internal collaboration, etc) that must be considered. Just my 2cents.
RT @AnaRC The Real Cost of Social Media | http://bit.ly/8Is7Dt
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RT @AnaRC The Real Cost of Social Media | http://bit.ly/8Is7Dt
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Thank you for your comment Luis. I agree, time is the investment here and often people aren’t aware of it. You do a fantastic job with this. I admire the way you manage work and networking. I must learn from you
That’s right Diego. Funny you mention the business card and traditional media as I am in the process of re-designing that entire aspect of my business. I will share the experience on the blog. If you have concrete ideas and/or have gone through this process already, it will be great to get some advice and have you as a guest blogger. Think about it and let me know.
RT @AnaRC The Real Cost of Social Media | Premier Social Media http://bit.ly/8Is7Dt
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I think putting in small amount of time is affordable for social media as well as for business.