I recently read a great blog post about social media strategy. Or, I should say, about the lack thereof. According to Mr. Bedell’s post, only 51% of businesses surveyed which are using social media for business purposes have a plan for doing so, even though 88% agreed it was, in theory, at least, a worthwhile endeavor.
Wow.Here in our own mortgage and settlement services industry, I’m willing to bet that the number of firms embracing social media is a wee bit smaller. And I’m willing to bet the house that fewer still are operating with any kind of organization-wide strategy as they do so.
And yet, I would bet that many of those same companies do have product strategies, business plans and maybe, just maybe, even marketing strategies.
I am increasingly learning that many in the mortgage industry are willing to dabble in social media. Key executives might have a profile, might join a few groups, might even check in on those groups once in awhile. Some brave souls even embrace the medium, contributing, participating and advancing their brand in sophisticated fashion. Others, not so much, as I discussed here. But I have seen few (my clients excepted, of course) with a real long term plan for the use of LinkedIn, Facebook, Twitter and the like.
Skipping for now the obvious lesson that social media is not for advertising, but rather, building a brand via networking, I must implore my friends and colleagues in the industry: if you’re going to use social media, have a plan. Dabbling can be dangerous. Going off in an unplanned direction can be even more dangerous. As you build your plan, keep these things in mind:
Needless to say, the complex world of social media strategy is evolving. Yes, there is risk to it—just like any type of communication. But the rewards for your brand can be huge as well. Happy hunting!