It's right to embrace new channels of communication but we all have limited resources and it's important to decide what is going to give you the best return on your time. A few hundred devoted Facebook fans or Twitter followers will be worth a great deal as they will be the leaders that spread the word.
That's the good news. However they will expect it to be worth their while signing up and they will also tell you and everybody else when your business has done something wrong. Consequently you have to be reasonably confident that not only are there enough people out there wanting to sign up (how big is your email list?) but you or someone has the time to write regularly and respond to criticism and queries. All the time without neglecting those tools that are already working for you, like the email list or, dare I say it, your blog. Best to do one thing well than many badly.
Each medium has its own demands so you will need to research carefully what, for example, Twitter followers or Facebook fans are expecting from your communications. A Facebook page may be a forum for debate and tips whereas Twitter may be best for the latest news. Neither may be right for a constant barrage of hard selling.
All businesses must develop or die. So you have to try new things. However some experiments will fail. Most of us can afford to wait for the trailblazers to do the groundwork and then jump on the bandwagon of the proven successes.
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