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Tag Archives: entrepreneurs

Watch Out! Are You Building A Frankenstein on #SocialMedia?

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September 15, 2011

| Jan Wong

Frankenstein somehow came out as an illustration in a recent discussion with a friend which I thought is a fitting example when it comes to creating a social media marketing campaign. How is it so?

5 Things to Consider When Building Your Next Social Media Marketing Campaign

Powering up the Frankenstein

1. Don’t build something you can’t power up!

Excited business owners and entrepreneurs often fall into the trap of building an idea fortress. You may have a grand scheme in mind but be aware of the time constraints, cost, knowledge, technical skills and practicality in making your plans a reality. Can it really be done with your current resources?

Always build a MVP – most viable product by first putting together what’s most important and practical to keep the costs down until you can afford something as big as a Frankenstein.

2. Watch your back!

Don’t let it haunt you in return. When Frankenstein came to life, it backfired and became a monster instead. Look out for loopholes in your marketing campaign that can bite you in return. It may be the terms and conditions, the sign up process, the voting process, the selection process or even the tools that you pick – you do not want to use a trial tool that ends before your marketing campaign ends!

A simple rule before launching your social media marketing campaign publicly is to test it and test it again!

3. Be innovative!

Frankenstein was created by stitching together different body parts. Your campaign can be created by stitching together different ideas from other marketing campaigns too! There really isn’t a need to reinvent the wheel for your campaigns. Understand existing concepts and inject your own flavor to make things different.

Be on a look out for great ideas both online and offline that you can implement in your next campaign.

4. Don’t build for your own pleasure!

Was there a need for Frankenstein to be created? Do the citizens of that time need Frankenstein? Not many people can create a new need like Steve Jobs did with the iPad. Build a campaign that your target audience would want to participate in. Don’t fall in the trap of building something cool just because the bigger companies are doing it. If your audience needs nothing more than a simple sweepstakes, so be it.

Always fall back to the basics: is this what my target audience wants? is my social media marketing campaign too complicated for them to participate? will there be any technological barriers?

5. Don’t give up!

Unlike Frankenstein, you do have an opportunity to make changes to adapt to the changing requirements of your target audience. Don’t give up when the marketing campaign did not progress as expected because you are dealing with humans and their preferences change from time to time. Take time to understand the flaws of your campaign and do better in the next.

Be reminded that your marketing campaigns are built for human participation therefore their preferences can affect your results.

Are you building a Frankenstein for your next social media marketing campaign?

What are your thoughts on building a social media Frankenstein?

 Insights, Social Media, Technology |  business owners, entrepreneurs, online, social media, web 2.0 |  Comment

Brand Focus #8: How to Manage A Groupon Campaign For A Small Business?

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September 12, 2011

| Jan Wong

usage of groupon in malaysia restaurants

Just a week ago I popped by a small restaurant just slightly away from town for dinner and managed to have a chat with a small restaurant owner.  Somehow the conversation landed on the topic of Groupon – he loves it.

Recalling from my past conversations with other business owners on Groupon in Malaysia, I instantly wanted to know more about this liking of his towards Groupon. What is it that made his Groupon campaign successful? Why is it that he is able to make Groupon work while others find it difficult to handle?

Here are some tips from our chat:

#1: Don’t Stinge on Quality

The restaurant owner insists that the proportion of the meals served during the campaigns have to be the exact proportion of how it is off-promotion, if not better. Customers can tell the difference – especially those that frequent you. Business owners should not opt for a cheaper alternative just because of a lower profit margin.

#2: Know How Much You Can Handle

If your restaurant operate 8 hours a day with a total of 40 seats and if each customer takes an average of 30 minutes per meal, you’re likely able to handle no more than 640 customers per day. And that’s if you operate back-t0-back without rest. This figure will let you know whether you’re able to take in X amount of reservations daily. This restaurant owner drew up a reservation chart to make sure he does not overdo it. By doing so, he will be able to operate at full capacity, yet maintain the quality and service efficiency.

#3: Know Your Limits

If the number of customers flooding your store isn’t a concern, how about the number of staff on duty? He pointed out a valid point – the more customers you have, the more manpower you’ll need and that will cost you money. If that still isn’t a concern, think about the workload – will your staff be able to handle two, three, or even four Groupon campaigns back-to-back? Give them (and you) a break…

#4: And Measure Your Results

The simplest method suggested is to give out vouchers for their next visit. Have them printed with unique codes / colors so you can track which campaign your customers are coming back from.

Have you purchased a deal on Groupon or similar sites? What is your experience with the businesses running the campaigns?

 Insights, Marketing, Social Media |  brand focus, business owners, entrepreneurs, groupon, online, planning, social media, web 2.0 |  2 Comments

7 Ways to Avoid Consumer Backlash for Your Next #SocialMedia Promotional Campaign

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September 8, 2011

| Jan Wong

adampedleyThis is a guest post by Adam Pedley (@Adam_Pedley) is the founder of Binkd home of the Binkd Promotion Platform. Adam is also a great buddy and one with great insights on promotions. Enjoy!

As a business owner you want to increase your following and engage with your customers. A perfect way to do this is to run a contest. Give a way a prize, get people spreading the word of your business, every one wins right? Unfortunately this isn’t always the case. Here are 7 points you need to consider before running a contest to help avoid consumer backlash.

1. Avoid Voting Contests Or Apply Strict Rules To Them

If you have a voting contest, there are sites / Facebook pages out there that let you post your entry link and get heaps of votes from random strangers. Then you also go and vote on all the other entry links on these pages. A reciprocal exchange of votes from random strangers.

People get REALLY angry about this and this actually tends to be worse when you are in a predominately women focussed business (e.g. homewares or fashion).

You can either avoid voting contests, put in place strict rules forbidding people to post on these pages and if they are found to have done so, they can be removed from the contest, or do a vote for a chance to win.

Vote for a chance to win is a slight variation on a plain voting contest. Each vote they get is a chance to win, but not a guarantee, hence it limits the effectiveness of gaining votes from random strangers. This type of contest is available on the Binkd Promotion Platform.

2. Ensure Your Prize Is Highly targeted And Valuable

If you give away a cheap or not applicable prize to your audience not only will you lose credibility, you will anger your customers for wasting their time reading your contest or making them feel devalued and not worthy of your time.

A highly targeted and valuable prize will gain you more entrants and greater trust with your followers. They are also more likely to keep coming back.

3. Monitor Your Contest Very Closely

There is always the potential for things to go wrong in your contest. Maybe you made an error in the terms or setup the contest incorrectly. These errors normally surface in the first few hours hence it is best to launch a contest early in your working day. This gives you the ability to monitor your contest and correct any errors during the day, rather than waking up in the morning to discover a PR nightmare.

4. Don’t Change The Terms Once The Contest Is Running

Apart from being illegal in some countries, changing the rules of the contest after it has started never goes down well with entrants. If you think you may need something in the terms, write it in now and don’t add it in later. Your terms should be well crafted and looked over by a lawyer to ensure it is valid in the countries you are running the contest.

5. Avoid Humorous Prizes Or Language

While something may be funny to one person, it generally isn’t to others. To avoid negative feedback and have the best chance of people spreading the word, stick to widely accepted and wanted prizes in your niche.

6. Don’t Run A Contest For A Good Cause

If you run a contest with “I will donate $X to a charity or the latest global disaster, if I reach a thousands entrants” or something similar, you will get entrants who buy into this but you will also receive a fair bit of backlash. Generally people will say, why don’t you just donate the money now, people are dying over there you (insert expletive).

7. Make Clear Any Out Of The Ordinary Terms.

A lot of people don’t read the terms of the contest and then have a go at you when they realize it wasn’t what they expected. If you have any terms that are slightly out of the ordinary, make sure you put them in a place where people will read them as well as the in the terms and conditions. The more upfront you are about them, the less likely anyone will question you later after they have entered.

 Insights, Marketing, Social Media |  business owners, entrepreneurs, facebook, guest post, online, promotion, social media, web 2.0 |  Comment

What is the Best #SocialMedia Tool for a Marketing Campaign?

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September 5, 2011

| Jan Wong

It is interesting to see how business owners or marketing people jump straight into Facebook when talking about using social media tools for a marketing campaign. Do Facebook fit into every marketing campaign there is? What is the best social media tool for a marketing campaign?

If you came here to find out what is THAT tool, I’m sorry to disappoint you because there isn’t one. But before you click away, let me tell you why:

#1: You can’t fix a window with a hammer

Similarly, you don’t saw with a pair of pliers. There is a tool out there for your marketing objectives and not every tool is the answer. Get this – even experienced social media experts fall into the trap of using too many tools just because they all seem to fit. Put your marketing objectives first and focus on what is it that you want to accomplish with it THEN select your tools. You don’t drill a hole in your wall only to find that it is too big or small to be used.

Here’s a simple tip that I use often to select compatible tools by using just a paper and pen:

planning an event with social media marketing ideas1. Create a master list of ALL the things you can do or can think of using social media
2. Put down your marketing objectives and describe your target audience
3. Now group the items on your list into 4 different categories: the ‘Must Haves’, ‘Good-to-Have’, ‘Maybe Next Time’ and ‘I Don’t Need It’

planning an event with social media integration4. Select your tools!

In this example, you may want to consider having a Facebook page, host a simple contest to get fans to share about the event, encourage fans to post photos from the event to win something, place QR codes at the event to uncover a mystery gift or use Foursquare to reward visitors at your event. As for ideas on how to improve your event further, you’ve got the ‘Maybe Next Time’ column to help you out.

#2: You cannot build a house with a single screwdriver

From the very same example you’ll also find that although your target audience are on Facebook, it should not be your only answer when it comes to social media marketing. At times you’ll be required to include other tools to complement your marketing campaigns such as a microsite (it can be a blog), a QR campaign for on-ground interactivity, a Foursquare special to reward loyalty or a mobile app containing an event directory and itinerary and more!

The larger your objectives are, the larger the campaign will be, and the more tools you’ll (likely) have to use but it all begins with setting the objectives right and keeping with it.

My Recommendation?

social media swiss knife

Get yourself a social media Swiss knife. I use the above method almost all the time. What about you?

 Insights, Marketing, Social Media |  blogs, business owners, entrepreneurs, facebook, mindset, online, social media, trend, twitter, web 2.0 |  3 Comments

The Lelong.my E-Commerce Fair 2011 and A Social Media Experiment

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September 1, 2011

| Jan Wong

The last couple of weeks has been nothing but busy, followed by a major downtime of my site caused by some rather irritating server problems but I’m glad that they are all sorted out now and I can finally go back to my blogging routine.

team managing the e-commerce fair

I recently launched an event for a client (Lelong.my) which is also Malaysia’s first E-Commerce Fair held at one of the busiest exhibition centres in Malaysia – the Mid Valley Exhibition Centre. The event lasted for 3 days over the weekend with the main objective to highlight the E-Commerce industry in Malaysia and to educate consumers on the convenience of E-Commerce.

Before you go about wondering why an event of such nature is required, consumers in Malaysia generally are not very comfortable with online purchases and the limitation of payment services makes things worse. However the E-Commerce scene in Malaysia is slowly picking up over the recent years which led to Lelong.my’s decision in bringing the online experience offline for all to see.

paypal at lelong e-commerce fair

The event brought online retail businesses from electronics, books, gadgets, fashion apparels, home appliances and etc together along with various support industries such as payment gateway giant – PayPal, web hosting providers, shopping cart solutions and more. By doing so, consumers are now able to find out more about such services and get started right there and then, ultimately mass educating many who were clueless about e-commerce.

e commerce talks at e commerce fair

As a whole, the event attracted over 60,000 visitors throughout the 3-day event with over a million impressions online across various platforms including blogs, Facebook updates and tweets plus complementary press write-ups on several local newspapers.

A Social Experiment at the Event

Being myself, I thought it would be great to put to see if social media is effective for a corporate consumer event in Malaysia. A part from the usual online promotional campaigns using Facebook (which was well received), I tested the usage of Twitter and Foursquare, two platforms that aren’t as big as Facebook in Malaysia.

The experiment is simple and it comes in 2 different parts:

Part 1: Using Foursquare to target existing Foursquare users.

A new venue is created on Foursquare prior to the event (without any specials) just to test the popularity of checking in. The results?

simple foursquare experimentIt didn’t cook up a storm but the results are rather interesting. The newly created venue managed to bring in 24 check-ins (with a mayor crowned) and 1 tip from a visitor within the 3-days as compared to the venue’s other check-ins (Hall 1, Hall 2 and Hall 3) which have been created at least a year ago.

This suggests that visitors are more inclined to check-in to an event compared to a location (like the exhibition centre) even when there are no specials to be given away.

Part 2: Using Twitter’s location based search to target tweeps within the area.

We closely monitored users that were checking in to the Mid Valley Megamall and those that are tweeting within the vicinity of the venue and sent them an invitation to check out the e-commerce fair at the exhibition centre.

tweeting at the e commerce fair

While the temporary Twitter handle only received a handful of followers, the invitation sparked conversations among interested tweeps and we were able to share the event with many others.

What does this mean for other corporate consumer events in Malaysia?

  1. Facebook reaches the consumers at a larger scale in Malaysia as compared to other social platforms
  2. Foursquare specials have the potential to be an attraction or incentive for visitors to come by (or just to check-in)
  3. Twitter is a good tool to create conversations, create interest and responding to feedbacks
  4. Twitter’s location based search allows you to capitalize on the crowd that is already in the vicinity. You just need to give them a reason to come by.
  5. You should not rely on one social platform alone. Consider other platforms to reach out to other pockets of consumers as each tool have their individual strengths and audiences.

What are your thoughts on utilizing social media as part of an event’s marketing mix? Any ideas to spice things up?

Note that the experiments were done on an as-it-is basis with its conclusions drawn from a personal perspective only.

 Personal, Projects |  business owners, entrepreneurs, experiment, malaysia, next generation, online |  Comment

Have You Replaced Your Wipers for #SocialMedia?

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July 21, 2011

| Jan Wong

Have you ever drove in a heavy downpour with a faulty wiper? Not so much of it being broken, but not able to give your windscreen a clean wipe – especially at night. If you haven’t, it looks something like this:
driving with bad vision on social media

Without going further, let me tell you that I’ve been driving in this condition for quite sometime. I know I can easily change the wiper blades but somehow it is always not worth the hassle and it didn’t seem like it would rain! When it does, I find me telling myself that I can handle it since I’m experienced.

How often do we have the same thought? We choose to stick to our current condition just because it is a hassle or inconvenient to change. In fact, we may think that we’re good at it – because we’ve ‘trained’ under the same situation for numerous times.

Change your social media wiper blades!

Why should you?

#1: Your vision is greatly limited

It never is a good thing when your vision is limited – especially when you’re driving. The same goes to managing your social media presence. You may be aware that you need a social media strategy for your business and it is true; but it takes more than just strategy for you to make social media work for you. You must be able to see what lies ahead of you and adapt to change and requirements because social media is about people, and people change. They can pull their brakes causing you to crash right into them because you just couldn’t see it coming.

What can you do: Always be on a look out for signs. Know what your competitors are doing. Know what you target audience are looking for. Be aware of the latest happenings especially when it comes to marketing. You do not want to be last on board the next Facebook.

#2: You drive a LOT slower

The heavier the rain, the slower you get. Many times businesses fail to integrate social media into their marketing strategy because they are stubborn. They are determined to drive forward relentlessly despite the heavy rain – which is not necessarily a good thing. Sure, it can be rewarding when you get to your destination but you may have taken much more time and exhausted much more energy than usual.

What can you do: Sometimes it is better to stop by the road to re-plan your journey with a clearer vision. Maybe you’re using the wrong route or the wrong tools to begin with. Could it be that your prospects aren’t even on Twitter?

#3: You max out your level of concentration

It takes great effort and strength to remain focused over a long period of time. Imagine driving in that condition for an hour or more – it’ll suck your life dry because you’re simply trying to make vision out of no vision. Don’t get me wrong, concentration is great and your determination is plausible but don’t you want to use that for the right purpose? You may be putting all your effort into the wrong area – whether by trying too hard to keep up with trends, emulating A-list bloggers or even digging deep for followers.

What can you do: Concentrate where it matters the most for you. It can be producing quality content, engaging with fellow bloggers from the industry, participating in tweet chats to build your networks or listening to what your customers have to say – social media isn’t social anymore if you’re too focused on the numbers.

Imagine…

clear vision on social media Driving down the road with 100% clear vision with a perfect set of wiper blades. You now can drive normally, yet enjoy the journey by perhaps turning up the music and humming away to your next destination.

It’s time to replace that wiper blades of yours for a new one.

p.s. I’ve finally replaced my car’s wiper blades!

 Insights, Marketing, Social Media |  business owners, entrepreneurs, online, social media, trend |  9 Comments

Brand Focus #5: Groupon in Malaysia – Friend or Foe for Your Business?

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July 5, 2011

| Jan Wong

will groupon help businesses grow?It has been a couple of months now since Groupon officially came into Malaysia by acquiring GroupsMore.com and many businesses have hopped unto what I call the Groupon hype – a similar scene happening around the world. Businesses go on Groupon for marketing purposes, to draw crowd or bargain hunters to their store / outlet and hopefully translates into future sales (click here if you’ve never heard of Groupon before).

I managed to talk to two different business owners recently and we somehow got to the topic of Groupon and it would seem that they both have been badly ‘pinched’ by Groupon.

Initial Observation: Groupon As a Foe

1. Their business actually experienced losses. Groupon deals attracts the crowd, that’s for sure. If your products already have low margins to begin with, you may experience losses – especially when the crowd pours in for your awesome deal.

2. Their business cannot cope with the crowd. So you’ve got a deal up and you’re fully booked for the whole of next month – but you do not have the resources and the capacity to manage each and every customer. Mismanagement may turn away customers for good and if you’re planning to invest into more manpower and equipment, you better have the margins well calculated because…

3. Your existing customers (that may not be on Groupon) will also want discounts because of the awesome deal you’re already giving to others.

4. On top of that, the customer retention rate is said to be very low, at about 5% – 10% and in some cases it still does not make up to the ideal margin.

While the above may not be true for every business out there, many have experienced the negative affect of Groupon which led me to think – is Groupon really that bad of a business / marketing model to adopt?

My answer is: no.

7 Tips on How to Maximize Groupon for Your Business

#1: Know Your Margins

Understand this before proceeding: while every business can use Groupon, not every business should use Groupon. The reason is simple – if your business operates on very low profit margins, you’ll definitely end up with a loss – especially if you’re a small business without any marketing budget set aside. Know how much of a margin you’re able to spare (and survive), even if there’s a large crowd. Set the group discount rate at a level in which you’re comfortable at and yet remain attractive.

#2: Know Your Business Operations

This applies best to the service industries. Know when are your peak and off-peak seasons or timings in a day. ‘Sell’ your off-peaks cheaper in return for crowd. This is where Groupon can truly shine – put in terms and conditions specifying that the offer / deal will only work during specific timing of a day (e.g. 3-5pm) to boost sales rather than not making any sale during the off-peak hours.

#3: Never Give in Quality for Quantity

Use the crowd to your advantage – show them what you’re able to offer even when you’re under pressure. Whether it is customer service or food preparation, make sure you’re showing your customers the best you can offer. This is the time to give them a reason to come back for more!

#4: Build Your Database – Engage

Take this opportunity to build your database by engaging with your customers individually. Talk to them, get them to subscribe to your newsletter, ‘like’ you Facebook page, ‘follow’ your Twitter handle, sign-up for a loyalty programme, participate in a contest or even to write a testimonial for you. In other words, do not let them leave without leaving you with something valuable for your business. On top of that…

#5: Follow-up Offers

Don’t let them leave empty handed! Give them something in return to invite them to come back for more. Something along the lines of “bring a friend on your next visit to enjoy a similar treat” can do wonders. Retention rates are low because businesses do not give the customers sufficient reasons to stay. So why let them leave empty handed?

#6: Make The News

Make use of the crowd to spread the news! Snap pictures, tweet away, launch a Foursquare special and create buzz across existing social media platforms. Customers are drawn to crowd and if you are already attracting one, let them know you have one!

#7: Encourage Feedback

This is the most important of all – always ask for feedback from your customers so that you’ll know what went wrong / right to do better in your next Groupon deal. Offer as many feedback options as possible – through Twitter, Facebook, contact forms or emails and be sure to respond to everyone of them positively.

Have you used Groupon for your business? How did it work out for you? How else do you think Groupon can benefit businesses?

 Insights, Marketing, Social Media |  brand focus, business owners, crm, entrepreneurs, groupon, malaysia, social media, trend |  2 Comments

Are You Building Engagement Points for Your #SocialMedia Campaigns?

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June 30, 2011

| Jan Wong

The objective of this article is not to remind you how powerful and important social media is to your business today but to tell you that being on social media is not the solution to stay competitive in the market.

We all know that social media platforms such as Facebook, Twitter and YouTube are great tools to maximize online visibility. The question is, how can your business capitalize on the growing evolution of social media and not fizzle out?

If you already have a social presence, great! This may help you enlarge your ‘territory’. If you’ve yet to integrate social media into your business, consider this as a point for having one:

Creating Social Engagement Points for Your Business

Yes, you may have a blog or a Facebook page but do you know how many engagement points are you using? In other words, how are you allowing your customers to engage with you? Identifying your engagement points can maximize your effectiveness on that platform simply because you’re allowing your audience to engage with you differently.

Take a look at the video below:

Now this video has nothing to do with blogs, Facebook or Twitter but it holds one powerful concept to being successful on social media: enlarging engagement points so that their customers can engage with them (through purchasing) even outside of their stores.

Tesco realized 2 important points:

1a. To increase engagement points does not mean they have to be opening new outlets everywhere. In social media, that also translates to you do NOT need to be on every social media platform just to be seen engaging with your customers.

1b. To effectively engage with your customers, you need to be where they are at and in this case, it was the subway. Where are your customers congregating? Are they even on Facebook to begin with? Or would they be hanging out in technology forums? DeviantArt, perhaps? Know where they are and be there!

2. The power of having 1 platform but multiple engagement points. Tesco used the subways as the platform along with QR codes – not one, but one for every product. Think about it – Tesco could have done only ONE QR code and redirect the customer to their online shopping site for the purchase to take place but they chose to have them individually. This boosts interactivity and allows customers to actively engage in a different way.

How are you allowing your customers to engage with you on social media? Only on your Facebook wall? Your comments section? How many engagement points do you have?

17 Simple Engagement Points for Your Blog and Facebook Page

Facebook

#1: Wall (yours)
#2: Wall (your customers’)
#3: Questions / Polls
#4: Contests
#5: Welcome Page
#6: Subscription Tab
#7: ‘Like’ / ‘Share’ Button
#8: Profile Picture (e.g. fan of the week)
#9: Photo Tagging
#10: Events

Blog

#11: Comments
#12: Social Sharing (Retweet, Share, Digg, Stumble, +1, etc)
#13: RSS Subscription
#14: Email Subscription
#15: Contact Page
#16: Links to your Social Profiles (Facebook, Twitter, LinkedIn, YouTube etc)
#17: Guest Posting

What are your thoughts on having multiple engagement points? What other engagement points you think businesses and individuals should also implement?

 Insights, Marketing, Social Media |  business owners, entrepreneurs, innovation, social media |  2 Comments

How Much Should You Spend on Setting Up Your #SocialMedia Presence?

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June 19, 2011

| Jan Wong

This topic have been really hot lately in Malaysia due to a recent “finding” where Tourism Malaysia stated that they’ve spent RM1.8M (about USD600k) to create 6 tourism Facebook pages to promote the tourism industry in Malaysia. This caused quite a stir among the public, leading to tons of complains and debates both online and offline. If you’re interested, click here to know the full story and here are the clarifications made by Tourism Malaysia.

As I followed the news closely, it is interesting to see remarks made by various individuals and some of them can relate to how businesses react to social media integration today when it comes to $.

free parking on social media?“Social media is FREE. Why do I need to pay?”

Sounds familiar?

While most social media platforms such as Facebook and Twitter are free where you can simply ‘park’ your brand / business on a page, there are several areas that don’t come cheap – especially if you’re thinking of an elaborated campaign or planning to hire someone to do the job for you. Having that said, randomly putting aside a figure won’t do you good. At the very least, consider the following areas:

How Should You Plan Your Social Media Budget?

1. Consider Your Expertise

– Do you have the knowledge and / or the skills to manage social media tools?
– Will you be doing the job or are you hiring?
– Do you have a team to determine the social media strategy?
– Do you even have a social media strategy? (hint: creating a Facebook page to get as many likes as possible is NOT a strategy)
– Do you need a consultant to help you with your social media strategy?
– Do you have the technical skills to execute those strategies (if required. e.g. Facebook apps)

2. Consider the Promotion Itself

– How will you go about promoting your social media presence (blogger write-ups, reviews, online advertising, email marketing, etc)?
– How big of a team is required to carry out the promotion?

3. Consider Long-Term

– Who will be managing (i.e. creating content, engaging, monitoring, etc) the social media accounts?
– Will it managed in-house or outsourced?
– Do you need a consultant to keep you on track?

Considering all of the above, you should be able to tell by now that social media CAN cost quite a bit or it could cost you nothing but time and effort if you’re doing all of it alone. It is interesting to note that even though many feel uncomfortable spending on social media, a recent study indicated that businesses plans to spend more on social media in 2011 as compared to 2010.

Need an idea on how much to spend? Click here to take a look at this survey done in the US.

On top of that, companies (especially experienced ones) are also seen outsourcing the design and development, content creation and analytics to social media agencies instead [source].

Social Media Spending Trending Up

How much do you think businesses should spend on social media? What are the areas they should consider the most?

 

 Insights, Social Media |  business owners, entrepreneurs, facebook, malaysia, social media |  Comment

The #SocialMedia Dot-Com Mentality

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June 16, 2011

| Jan Wong

The dot-com era was the beginning of really exciting times. It was revolutionary. It was the beginning of people willing to spend money for something that is intangible like a .com domain name. We can definitely learn a lot from those days. A couple of weeks I go I wrote about 5 lessons we can learn from the dot-com boom and bust and that’s not all!

Mentality #1: Let’s play monopoly

social media monopoly - a dot-com mentality on social media

It is interesting that many businesses create a blog, a Facebook page and a Twitter account just because it is “the right thing to do”, to keep up with technology just like how .com domain names were sold like hotcakes during the dot-com boom. Businesses are busy securing .com sites social media accounts even though they have no plans of using them.

While that may seem like a normal thing to do, social media is a different playing field altogether especially if you’re registering the accounts under a similar name such as your brand or company name. A simple query on Google will be able to reveal all of them… buried with dust, which ultimately affects your credibility.

Mentality #2: If it’s online, it’s global

During the dot-com boom, many had the impression that as long they have a website, they can easily be found. True, but also VERY wrong. It is true that if you’ve a website or a social media account your business is accessible globally. However the question is – whether you can be found among the mass of information and websites out there. Even if Facebook has 600 million users, it does not guarantee you 600 million impressions if you have a Facebook page. In fact, it takes hard work to even get your first 1,000 followers if you’re a small business.

Remember, social media is merely a tool – you’ll still need to get down and get it to work for you and people today often rely on search engines and personal recommendations (e.g. Facebook likes, Tweets, blogs and comments) to locate what they need online.

Mentality #3: Information (Part 1) – That’s all I need on my website

Yes, information is important and it still is today. Imagine yourself going onto a website only to find nothing about that particular business. It sure defeats the purpose of having a website. The thing is, businesses should also understand that people today demand more than just information.

Let me ask you this question: would you rather buy from someone that has only pure information or someone with an updated blog and perhaps an active Facebook page?

What makes things worse are sites that have dates beneath their home page that dates back to the past. Does that imply that you’re out of business in the present day?

Mentality #4: Information (Part 2) – The more the merrier

Remember how websites looked back then? Presenting to you the all-powerful frames:

website with frames

It was really something. Businesses were able to display even more information within a single screen. But is that the case today? Clearly not. In fact, search engines are not very happy with frames. Sites today display a minimalistic outlook to simplify the message – doing away with jargons and boring texts. Is your website overloaded with information? Less is more!

Mentality #5: The almighty enquiry form

The enquiry form is perhaps one of the most important addition to almost every business websites out there. After all, it is one of the easiest way for customers to keep in touch with you. Don’t get me wrong – it still is a powerful tool today. The question is – is it enough?

I don’t know about you but I personally do not like enquiry forms especially if I only have a short / simple question to ask. I’d rather leave a comment, a post on their Facebook wall or a Tweet. Imagine filling in all the fields on the enquiry form just to ask “are you open this weekend?”. Plus, there somehow is a feeling of a ‘black hole’ when submitting an enquiry form – you do not know whether it is actually sent. On social media platforms, you know they’ve received it for sure.

Do you fall into any one of the mentalities above? What other dot-com mentalities have you noticed today? I’d love to hear them :)

 

 Branding, Insights, Marketing, Social Media |  business owners, entrepreneurs, mindset, online, social media |  4 Comments

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