We recently ran a workshop for executives on social media marketing. Most of the executives in our training program were older and weren’t actively using social media. They are busy.
They know that their friends and family are using social media, but they don’t have a big interest in it personally.
They do, however, realize that social media is changing business.
They may not want to use it for themselves, but they need to understand how it impacts their business.
Here are some key insights for executives about how social media is changing business.
1) Everyone is on it.
While you may not use social media, your employees, suppliers, customers, investors, prospects, media, board of directors and every other stakeholder is probably using social media in some way. This means that you can’t afford to ignore it. It is here, it is real and it is big (and growing). Since it is so broadly used you need to understand the implications throughout your business.
2) Marketing should include social media (and it probably has a better ROI).
Almost all marketing plans now include some consideration of social media (or at least online marketing). If you aren’t taking advantage of social media as a marketing strategy you are missing out – over 90% of businesses use social media for marketing. Your marketing plans should definitely include social media – it is the #1 online activity of adults and it is one of the top things we do with our phones. Marketing is an eyeballs game, and the eyeballs are on social media.
3) Social media touches every aspect of your business.
Social media isn’t just about marketing strategies – it impacts all aspects of your business… it should be a part of your strategy for a few business areas including:
- Customer service
- Research & Development
4) Data and targeting capabilities are HUGE.
Most executives are SHOCKED to discover the targeting advertising opportunities on social media. It will blow your mind. You can target more accurately on social than on any other medium. Check out the behavior and retargeting opportunities – these can be game changers for your business.
5) It isn’t going away and it isn’t a moving target.
There is still an impression that social media is constantly changing so investing in it may be a poor choice since the target is always moving. This just isn’t true. I’ve done social media since 2007 and the fundamentals are the same. Why? Because people don’t change. Social media doesn’t change as frequently or as quickly as people think. Set the right strategy and your plan will be future proofed.
Find out more about customized executive training.