Step 2: Investigate the demographics of each social channel
Once you've figured out which social channel or combination of social channels is the most appropriate for your business, you then need to investigate the demographics of each individual site. If you want to be on a social network to communicate with a business audience, slightly male, with the majority of users 35 and older, MySpace is not the place for you (hint: try LinkedIn). Some great places to find demographics include Quantcast and Oneupweb's Pretty Good Scenario Survival Guide: Social Media.
Step 3: Strategize
So let's say you know you need to be on Facebook. You think a social networking site is perfect for your company, and your target prospects fit Facebook's user demographics. You've done the research, now you jump in and set up a company page, right?
Wrong.
Before you get involved, you first need to figure out what your goals are. Do you want to grow your fan base? Do you want to communicate with a small group of brand advocates? Do you want to try to use Facebook to drive business to your website? Do you want to interlink your social sites, communicating with fans on Facebook but asking them to visit your Flickr page for photos, or YouTube page for videos? Or do you want them to see your photos and videos all from one main source (which you can do on Facebook). And how will you define success?
These are all things you need to figure out before you begin. You should have clear goals in mind and understand how you plan to measure the outcome. And remember, in social media, ROI can also mean "return on insight."
Step 4: Make sure you have time and resources
Social media marketing is not a set-it-and-forget-it type of advertising. By engaging in social media, you are entering a conversation with your prospects and clients. There's nothing worse than entering the conversation but not saying anything. Think of it like a party. You go to the party to meet people, interact, and network. The same is true with social media. But remember that weird guy who stands in the corner watching people but not saying a word? Don't be that guy.
Social media is a way to be invited into the conversation. If you do your research, and strategize correctly, you could be the person at the party that everyone wants to talk with and listen to. You could be invited and welcomed into the conversation, as opposed to other types of advertising where you are attempting to push your way in.
Step 5: It's OK to seek help
As you can see above, social media marketing is a lot of work -- and if done correctly, it can reap real returns for your business. But not everyone has the time to invest in the research, strategy, and actual participation in social media channels. My biggest caution to you: Don't say "oh well" and jump in anyway. It's OK to seek help.
Social media marketing can increase brand awareness and bring in leads and sales for your business. But it takes real work to be successful. So before you dive in, stop and think it through. Develop a real plan of action, and decide exactly how you will measure for success. And if you're already in social media, now is the time to take a closer look at your efforts. Trust me, it will pay off in the end.
Lisa Wehr is CEO and founder of Oneupweb, a digital marketing agency.
On Twitter? Follow Lisa at @LisaWehr. Follow iMedia Connection at @iMediaTweet.
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