Eleven Myths About Social Media ROI:
1. Social Media is Free. While using social media seems free on the outset, it does require time, skill, and money. Remember your time is worth something. But it takes a lot of time and dedication to keep your content fresh.
2. Getting Viral is Easy. Unless you are a star, becoming a web sensation with your content can only occur if your audience cares about your brand or if you have a truly original product or idea that would excite users to the extent that they would put their reputation on the line and be compelled to share it with their friends. But it takes a lot of time and dedication to keep your content fresh.
3. It is all about the Popular Social Sites. Some social sites make more sense than others. Myspace for example has a strong music community following and would be more useful for artists than LinkedIn. However, if you are a businesses looking to hire talent, they would find LinkedIn more useful. Do not rely entirely on one social network, but choose the most relevant that would help you succeed.
4. If it is Amazing, then Users will Find it. While viral content can spread very quickly, it is important to be the first to light the fire and help the virus to spread through better SEO, tweeting, blogs, commenting on other blogs and sharing it with your friends or followers. Do not expect magic to happen by itself. It needs initial momentum.
5. You Can Not Build Meaningful Relationships Online. This is far from the truth. Social media can help you connect and interact directly with your target audience globally, not just locally. Even if they do not turn into revenue, they could provide you with valuable insight, reaction and constructive criticism that can help you significantly.
6. Social Media is for Young People. While this might have been true in the initial stages of social networking, the demographics of a social media user varies and crosses all age ranges.
7. It is a Trend Waiting to End. Social media is not a fad. It has become a part of life and will only grow with the increased use of smart phones that encourage social interactions online.
8. Giving Products Away for Free means Zero Profits. Not necessarily. By giving products away for free you can gain subscribers, visitors and grow your email list. More importantly, by providing free content, you grow your brand and credibility. The more you give away through social media, the more you receive from your audience.
9. It is Easy to Master Social Media. While social media can theoretically be easy to understand, there is a learning curve and expertise that only experience can bring. The best social media marketers have a track record in regards to social media activity and interactions on the web. They have a clear understanding of how social media, measurement and what your audience wants using the proper social etiquette to achieve desirable results.
10. Social Media Does Not Help Branding. Social media can be useful for receiving feedback from customers as well as used as a tool to manage your brand’s reputations. It gives you the unique opportunity to listen to your audience and find out what people are saying about your brand.
11. Social Media Can Not be Measured. This is the biggest misconception. You can monitor your social media efficiency using Key Performance Indicators that are tied with your overall organizational goals and strategy. Using tracking tools and analytics, all engagement using social media can be measured and be used to make decisions that would affect your organization positively in reaching its objectives.