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Triggering An Avalanche

January 25, 2011 by Dale Furtwengler — President, Furtwengler & Associates, P.C.

 Will social media marketing...

... grow your business or bury it?

As with anything that’s in its infancy, there’s a lot of buzz and excitement not to mention a plethora of self-proclaimed experts.  Most claim that if you’re not using social media marketing you’re missing out on a huge market.  Is that true?

While I believe that claim is true, it’s only part of the story.  There are businesses that can grow dramatically and profitably using social media marketing.  These companies are primarily selling intellectual property.  They’re the purveyors of self-help, personal development, work/life balance, spirituality or any other form of online learning.

Why does social media marketing work so well for these companies?  First, the market is huge.  With almost 7 billion people on earth and most of them looking for ways to improve their lives, it doesn’t take a very large percentage to generate a significant income for yourself.

Second, it’s not limited geographically.  The electronic delivery capabilities that exist today allow these merchants to delivery their offerings any where in the world with virtually no cost.

Third, buyers for these intellectual properties come from all walks of life.  Their messages can as easily serve an individual’s personal needs or a business purpose.  The messages are universal.  It’s these three elements that make social media marketing such a natural for selling intellectual property.

Let’s contrast that with a brick and mortar business, your local dentist for example.  Can social media marketing help her grow her business?  Of course it can.  

Unfortunately many social media marketing ‘experts’ forget the physical limitations that exist in those businesses.  Your dentist has limited floor space, a limited number of hygienists, limited support staff, not to mention a limited number of hours in the day.  Launch a really successful social media campaign and you can trigger an avalanche of new business.  Here’s what will happen to prospective patients.

As they call they’ll discover that it’ll be months before than can get in, but only after they’ve waited on hold ‘forever'. Our dentist is going to develop a reputation she’s going to abhor.  Her prospective patients are going to view her as a money-grubbing, uncaring individual whose not likely to appreciate their business.  Ouch!

It’s counter-intuitive, but any effective marketing campaign must consider the business’ physical limitations on its ability to deliver on its brand, its promise to its customers.  Social media marketing can be a great boon to your business or the avalanche that buries it.  It depends on how wisely you employ this tool.

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