Pleasures & Pains of Social Media

Social Media is a buzz.  We hear about it everywhere it seems, but how now shall we live in the age of Social Media? What must we be conscious of?

First, let’s define it. Social Media is media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques (Wikipedia). That’s a fancy way of saying what we see Facebook, Twitter, and thousands of other websites now accomplishing on the web.

I think it is also helpful to understand modern day Social Media(SM) by way of a simple formula:

D + C + S = SM

Device = computers, phones, e-readers
Connectivity = advanced cellular signals, Wi-Fi availability, WiMax
Software = Twitter, Facebook, MySpace, Yelp, Craigslist

The development of devices, connectivity and software has expanded our capacity for mobility and collaboration exponentially, and it is their interaction that has birthed this ‘new’ technology called Social Media.

So what does this mean for you and how does this apply to your business?

The answer is multi-faceted, so let’s break it down into three points and discuss how each component might affect you and your firm:

1 – Access to ‘inf-ada-tent’ (information, data, & content). Everyone is now a publisher of sorts, creating both supply & demand of ‘inf-ada-tent’ like never before. How does all this help or hurt when making a decision, either personally or professionally?

• Pros:
  o    You are able to tap the collective wisdom of many in a matter of minutes.
  o    You can filter who you listen to and who you don’t; think of it as a ‘wisdom aggregator’.
• Cons:
  o    Access to too much information; paralysis by analysis as it’s commonly called.
  o    Marketers are becoming more savvy in guising their message, thus making it unclear as to what can be trusted as an authentic referral.

2 – You will be noticed. Who doesn’t like a pat on the back every once in a while for a job well done- especially when it encourages business?  But what about the negative feedback that can spread just as fast?  Is being noticed a good thing?

• Pros:
  o    If you are good at your job and your business delivers value, people can now spread the good news in more ways and faster than ever before.
  o    More and more people look to others for their decisions, so as people take notice, it will have a rippling effect far greater than in the past.
• Cons:
  o    If you or your business has a bad day and rubs someone the wrong way, it may cause damage that is undeserved, out of proportion, or flat out incorrect.
  o    Staying under the radar- away from competition, etc- is a good rule of thumb for some business models, but this will no longer be an option since anyone can spread the word about the good or bad service they receive.

3 – You have a voice. Conversations have never held so much weight; however, there have never been this many conversations happening at once. At what point does too much of a good thing become a bad thing?

• Pros:
  o    In today’s conversant world, if you have a message you will have listeners.
  o    Social Media has allowed ‘permission marketing’ to reach full potential and has now made it easier to build a base of raving fans.
• Cons:
  o    More people saying more things means people have to be more and more protective of their time, causing them to shut certain things off; just hope it’s not you.
  o    You have a voice, but it may not be a pretty one. If your organization lacks a compelling or clear message, the problem will be compounded and you will get lost in the noise of Social Media.

These three points, as stated, are tip of the iceberg thinking. We must learn, as individuals, where & when Social Media tools make sense for us to use personally and professionally. Does social media help or hurt you?  You may only be able to find out after trying a few contained experiments.  But what’s good about the current marketplace is that you are just like everyone else– experimenting.