Is social media a waste of time for your product business?

Social media creates huge opportunities to grow your business and reach new markets, so it is no surprise that a lot of the business advice these days is centered around it and its uses for entrepreneurs.

While it is true that social media can help you communicate audiences with a speed and reach that one-on-one or traditional marketing efforts can’t, one of the biggest wastes of time I see these days is for business dedicating too much time to social media, too soon or without a clear strategy. This is especially true for product-based businesses since there are more costs associated with creating your product, and there is a bigger need to «move it» faster and get it into your ideal client’s hands.

Here are the main three reasons why social media might be a waste of time in your business:

1. It is not part of a well-thought business plan: There is no point in launching or working on any initiatives that are not part of a business plan. Understanding your business foundations clearly as early in your business as possible is key for success if you don’t work on this BEFORE you work on any virtual or live marketing initiatives you’ll be working without aim or guarantee that your efforts will resonate with your target market. Some of the foundations that you need to have clarity on are your financial model (costs, pricing and sales forecasts), business model (how will you make money) and your ideal target market.
2. It’s too soon for you: You are dedicating most of your time to social media before you have taken advantage to the low-hanging fruit of people that you already know, current networks and places where your clients will be hanging out live. The ideal way to launch and start is slow and with a few clients instead of trying to go big right away.
3. It’s not part of a specific process that will help people buy: Your social media posts need to be part of a process that helps people to know you, like you and then trust you, plus, giving them a clear call to action to purchase. In order to come up with social media strategies that resonate and create sales, you need to understand your target market and their motivations.

For more advice for product-based businesses, you can join my free group on Facebook «The Work Smarter Crew for Product Makers and Store Owners»