What Social Media Strategy is Right For You?

by Dan Harris on April 18th, 2010

The Social Media Strategy: Investment-Risk-Return Infographic

The following chart is helpful when you're talking to people or companies about social media strategy. This gives you alot to talk about.

1.) You can position Monitoring & Report for a person or business that is more conservative or is not willing to invest in a more comprehensive program.

2.) This chart is great for conversations around investment in tools, people, and time. Everyone says social media is free or low cost. I disagree. You will get out of social media and social networking what you put into it.

3.) Depending on what a person or company is trying to accomplish this chart lets them visualize what will be required from an investment and commitment level.

4.) This also comes in handy as a way to position the potential risk and the opportunity for reward.

Let me know what you think of the chart.

If you would like to learn more about strategy, tactics and more review the post: Use "A STAR" To Build Social Media Strategy

Until next time...

Dan Harris


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4 Comments

Judy - April 18th, 2010 at 4:48 PM
I like the infographic. Visually, the color choices are good. The text is clear and to the point. Most people need this type of information when discussing investment and risk--just cut to the chase and no fancy words.
Dan Harris - April 18th, 2010 at 7:49 PM
Thanks Judy - As I work my way through projects I am always looking for graphics and tools to better communicate. Let me know if you have a tool in mind that I could help you create.
Nate Riggs - April 20th, 2010 at 12:55 PM
Dan - this is good stuff and I see where you are going. Seems like you are associating lower risk with responsive actions, and high risk with more proactive actions in terms on engagement and content distribution.

Consider this - without a solid presence in place on the web, reactionary response via monitoring can be less effective and (I'll argue) possibly even high risk - especially with long lag times for corporate approval of response. On the social web, minutes can be like days of time.

I'm thinking of Domino's initial adventure on YouTube in response to the booger video incident. Domino's came under heavy scrutiny on the web and in traditional media, because:

1. They or their CEO had no established presence. No one like a brand that only shows up to the party when there's a problem or they have something to gain.

2. Response time to the original booger video was about one week - way to long.

With that case in mind, I could see your model possibly being inverted. It would seem that the greater the presence, the less risk involved.

Think about if Zappos screws something up in terms of service and comes clean in social media. Would it's customers be likely to simply forgive and move on?

What do you think?
Dan Harris - April 20th, 2010 at 3:23 PM
I love the way you think. Turning things upside down. I would have to say there is risk in both scenarios. The more active and engaged or more popular you are the more opportunities there are for mistakes or mishaps. To your point, If you are active, engaged and responsive and respond quickly resovling the mishap the better off you will be. That is why Ilike this infograph. It can help people discuss these kind of issues, identify and plan for how they will reduce risk and create an on-going postive relationship with our networks.

Thanks for the comment Nate. We should talk about other infographics we can create to help others. Send me an e-mail and let's see what else we can come up with.

Dan

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