Monopoly is a game of strategy. When you play the game, you need to evaluate different options and understand that the choices that you make are critical to your success. Social media is also a game of strategy. The social networks that you use can help your company grow through brand awareness, promotions, and customer feedback.
When determining which social media networks work best for your company, there are a number of things to consider. Before we go there, let’s make social media a bit easier to understand by categorizing the various types of networks. By doing so, we can more easily determine what social media networks work for your company and which ones you don’t really need to invest time in. It’s time to play the game of social media to keep up with your competitors.
Social Networks
Social networking sites fueled the rise of social media. These networks were designed as a platform for online social interaction and means of sharing similar interests, connecting with artistic groups, and personalizing Internet space. Facebook, Google +, MySpace, and MeetUp are a few examples of these networks. Social networks are an effective channel for business to build credibility, and company and product awareness. Here are some examples of successful business Facebook pages. Zappos uses discussion posts, wall updates and Fan of the Week contests to engage with their customers. Burt’s Bees uses spotlight videos to build product awareness and allows customers to buy products from their Facebook page. Skullcandy leverages music, videos, and blogs to encourage customers to purchase their products.
Professional Social Networks
Unlike the original social networks, professional social networks are focused more on business-related networking and information sharing. LinkedIn, SlideShare, Xing and Viadeo fit into this category. You typically wouldn’t share family photos at the zoo on these sites, but would instead reach out to expand business relationships. Businesses create LinkedIn pages to build brand awareness, share corporate information and announcements such as Coca-Cola, Mashable and Four Seasons Hotels and Resorts. Like many social networks, the lifespan of professional social networks is sometimes short, so be sure to pick a reputable and established networking site.
Private Social Networks
Although the name sounds like an oxymoron, private social networks – or private enterprise networks – are a useful tool that an increasing number of companies are utilizing. Private social networks operate like normal social networks but can only be accessed behind the firewall within companies – hence the term “private”. Yammer, Salesforce Chatter and Ning are examples of these networks. These networks enable companies located in numerous domestic and international locations to share sensitive information and collaborate on projects more effectively.
International Social Networks
Similar to other social networks, international social networks have originated outside of the US. These sites offer networking platforms in multiple languages and are customizable to the user. These networks include QZone (China), Netlog (Belgium), Vkontakte (Russia) and Sonico (Japan).
Social Media Monitoring, Management and Tracking
Social media monitoring is a method of tracking what is being said on social media about an individual, product or company. These networks or software have become very popular to help companies dispel rumors, bad press and incorrect information. Some of these networks are Tracx, BuzzBundle, HootSuite, Postling and Lithium.
Content Discovery and Curation
Content delivery and curation networks offer interesting and entertaining content for the purpose of sharing information and providing news content outside of traditional news networks. Sites include BuzzFeed, Reddit, StumbleUpon, Digg and HubPages. Often users will forward these stories to their networks via other social networking sites, facilitating the quick dissemination of information through multiple Internet platforms. Use these networks to reach younger demographics (millennials) by creating funny and entertaining content that can go viral, which can become an effective branding tool for your company.
Blogging
Blogging sites allow their users to write and post articles and share information relevant to specific topics. Some networks like LinkedIn have incorporated blogging within their site to allow users to share opinions, new trends, and current affairs in the business and professional world. There are several blogging sites on the internet, but the most well-known are WordPress, Posthaven, and Blogger. Even though I post articles on LinkedIn, I also use my blog on WordPress to share my information on different platforms including Facebook, Google + and Twitter. These articles can contain links to your products driving traffic and sales to your website.
Microblogging
The only difference between blogging and microblogging is the limitation of content. Microblogging involves sending short messages, announcements and links instead of paragraph-long posts. Twitter, Tumblr, Posterous and Disqus are best known for these applications. Three companies that use Twitter very effectively are McDonalds, Delta Airlines and Nike. McDonalds promotes new items on the menu and have giveaways when followers tweet about what they love about McDonalds. Delta Airlines introduces their latest offers and special packages. Nike doesn’t use Twitter for sales. They send out tweets that motivate and inspire their followers, which strengthen the Nike brand.
Photo Sharing
It is said that “A picture is worth a thousand words.” Photo sharing networks allow individuals or companies post photos including images of products, family, personal interests, hobbies, and so forth. Instragram, Pinterest and Flickr connect communities of various interests and allow them to post images. SnapChat is a similar platform for photo sharing and also allows you to post short videos. Photo sharing networks are an important tool for improving branding and marketing images of your company. By connecting with influencers and innovators, sharing their posts, using hashtags, tag names, comments and links in your posts, you can expand your brand visibility quickly.
Video Sharing
YouTube has put video sharing networks on the social media map. Since its inception, YouTube has transformed into a global repository of videos that are searched like Google. Other video sharing sites that have grown in popularity include Vimeo, DailyMotion and Vine. Businesses use this network to show corporate, product and how-to videos. According to Wired.com, YouTube is one of Google’s biggest successes outside of search and YouTube now reaches more 18 to 49-year-olds than any single US cable network.
Which Social Media Network Should You Use For Your Company?
Determining which social media network to use for your company is important for your marketing and branding strategy. Choosing only one network is not sufficient for your company to get noticed. I believe that every company should be, at the very least, on LinkedIn, Twitter, Facebook, YouTube, Pinterest or Instagram and HootSuite. These networks or their competitors will provide you with networking and blogging opportunities (LinkedIn); microblogging (Twitter) to announce new products and company updates; social networking (Facebook), which expands your audience to a wider variety of potential new customers; video sharing (YouTube) to post product and corporate videos, including community service; photo sharing (Pinterest) to expand your brand by providing images targeted to the appropriate communities that buy your products and services; and social management and tracking (HootSuite) to monitor what your customers, prospects and competitors are saying about you on social media. Even if your business is more service-oriented, you can still take advantage of these networks.
Conclusion
Like Monopoly, social media is a strategy game. You need to decide what social media networks are right for your business. Research options, see what your competitors are using and make sure that you have dedicated resources (internal or external) to respond to the market conversations that are happening on social media about your company and industry. This is a strategy game that your company cannot afford to lose.
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Photo credit: Emilie Ogez via Foter.com / CC BY-NC-ND