Excessive Expenditures

Welcome to the fourth in a series of articles on using social media as a marketing and search engine optimization (SEO) tool. Today’s topic: Excessive Expenditures.

Traditional marketing approaches can be cumbersome and costly. The nature of printing, media buying, production and distribution dictate long lead times.

Today’s marketplace demands nimble communication tools, timely follow-up and measurable results – ALL from shrinking budgets.

Social media tools are free, or very low cost. Results can be tied to business goals then measured quickly and accurately. Content can be modified easily at little expense. All of these factors help keep costs in check – reducing excessive expenditures and improving results.

When comparing low social media production costs to high traditional media production costs, the contrast is remarkable. The cost savings alone makes exploring the use of social media a good business decision.

However, this is not to say that using social media to drive search engine results and grow your business is a no-cost proposition. Many companies rush into using social media based on its low entry price and potential cost savings (reduced printing, mailing and production time, to name just a few).

What they fail to account for is the skill needed to:
- Develop a viable social media strategy
- Create content tied to business objectives
- Measure and analyze the results
- Make recommendations for continued improvements

To crystalize this point, consider this adaptation of a popular campaign:
- Establishing a blog: $0
- Signing up for a Twitter account: $0
- Creating a fan page on Facebook: $0

Expertise necessary to implement an effective social media approach? Priceless!

The cost savings tied to using social media are not limited to marketing. Companies that take a holistic approach to using social media are cutting costs and improving results in areas that traditionally have been separated or in “silos.” Places to start reducing costs and improving results include:
- Communications (internal & external)
- Customer Service
- Market Research