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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:

• Keep it flexible:  Inherently, social media is new, ever changing and as varied as each personality participating in it.  A rigid policy will very quickly find itself on rocky shores.
• Keep it real:    This should go without saying for any kind of communications.  Be authentic.
• Keep it personal:  There’s a very real anti-corporate bias out there right now—even in the B2B community, if you can believe it.  People tend to shy away from posts or discussions launched by faceless corporations rather than real people.  Have your key spokespeople talk for you, rather than a corporate logo.
• Keep it interesting:  Social media is NOT the place to simply repost your mission statement.  When you peruse Facebook or Linked In, do you immediately and routinely seek out fan pages or promotional group forums hosted by your potential next doctor, attorney or plumber, to see what services they’re offering?  Neither do your customers.  Give them something they can use, and that will interest them, while still germane to your key message.
• Keep it coming:  Social media is not an e-mail blast.  Nor is it a flyer.  It is a conversation.  If you don’t have the personnel or time to put into it, get someone to help you (perhaps a qualified consultant).  Otherwise, don’t do it.  People who slip in and out of a conversation with long lapses of silence tend not to attract great crowds. 

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!