When it comes to social media, there are plenty of skeptics out there who have dabbled in social media but are still having a hard time buying into the hoopla. Typical skeptics include your traditional marketers, enterprise executives, etc. who are intrigued by social media but are very reluctant to commit many resources to it.
Here are 5 reasons why the skeptics might be on to something.
#1 Show me the metrics!
The biggest problem with social media today is that there aren’t many clearly defined metrics. For traditional marketers, that’s a huge hurdle, not just in getting their social media budget approved but also proving that their social media programs were successful. If you don’t even know what you’re supposed to measure, how do you measure it’s success??? ROI is becoming increasingly important, as it should be, especially in this tight economy. Social media may sound like the greatest thing ever invented but without quantifiable results, it’s hard to justify any $$ investment.
2# Here today and gone tomorrow?
There are fundamental site stability and security issues and even major social networks like Facebook, Twitter are not immune to hacking and site stability issues. And let’s not forget that most, if not all, social networking sites are privately or VC funded with little or no revenue despite all the traffic. Given the economic recession, it’s anyone’s guess which ones are going to be still around this time next year, so it’s no surprise that many still remain reluctant to invest resources in this media.
#3 It’s not just the ‘what’ but the ‘how’ that’s also perplexing
Once you’re over the challenge of figuring out what metrics are meaningful, the challenge still remains around tracking and assigning some meaningful value to these metrics. Say you decide to monitor tweets, retweets, # of followers on Twitter; # of ‘friends’ or posts on FB.
Given that it’s so new, there aren’t many ‘experts’ who are experienced in implementing social media campaigns or figuring out how it should fit into a company’s overall corporate strategy. Social media has many evangelists talking up the opportunity of this media but not many who are able to articulate the value in quantifiable terms that traditional marketers and executives are comfortable with.