Perhaps you’ve seen a Tour competitor “breakaway” and leave behind the peloton (the biggest bunch of riders). Whereupon one of the commentators will say, “Someone better chase him down,” before he gets out of sight and glides across the finish line unchallenged.
But the “chasing down” only happens once it’s clear that the breakaway has the “legs” and isn’t going to fizzle back into the pack. Making a countermove on an ill-advised dash just wastes energy.
Whenever something new comes to the marketplace, our response should be to determine if the shiny new object has legs, or is an ill-fated breakaway. Wise managers don’t chase down fads.
Three years ago, I predicted that while social media might be a craze, it is not a fad. This means when the dust settles on the hype about new rules, we will be left with something more intuitive to a business than the unfortunate term “social media” – productive and powerful new tools.
These tools are powerful because they help small businesses create online customer communities. And they’re productive because anyone can use them without spending a lot of precious capital.
We wanted to know where our small business audience was on keeping social media breakaway leaders in sight, so recently we asked this question:
“How much of a commitment has your business made toward a social media strategy?” Here’s what we learned:
Only 13% of our respondents said, “We have a social media strategy and it’s working.” Almost four of ten said, “We have a social media strategy, but not sure if it’s working,” while 31% said they want a social media strategy, “but can’t seem to make it happen.” And one-fifth of our sample said, “We’re doing nothing with social media on purpose.”
Every day that goes by, qualified prospects will increasingly come from online activity – including communities you build and join – and less from traditional prospecting methods.
If, like the other half of our survey, you’re struggling with a social media strategy, hire a 20-something to help you.
You don’t have to win the social media race, but you have to keep the winners in sight.
Recently on The Small Business Advocate Show I talked more about what small business can learn from the Tour de France about social media.
I also spoke with Dan Burrus, one of the world’s leading technology forecasters and business strategists and Technotrends, about how to integrate social into your media strategy. Click on one of the links below to download or listen to our conversations.