Social Media: the new bubble?

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Remember the tech bubble? And the dot com frenzy of the late 90s? Innovations that seemed pertinent at the time fizzled away and Americans were off to the next best thing. Then, social media exploded onto the scene and blew up to astronomical proportions to include social media brainchilds like Facebook, Twitter, LinkedIn, StumbledUpon, and more.

The online world is different as we know it. With mobile buzz, internet flurry, and useless (unnamed) social channels, what’s to say the social media craze isn’t just one big bubble – ready to pop in 10 years or less?

Take cue from MySpace. This social media pioneer fizzled fast, but why? It may be foreshadowing of the future, according to some venture capitalists.

But here’s a point of difference to consider, especially for your San Diego small business: while the social media hoopla may be the internet’s golden child, and while it may certainly disappear in 10 years, why not capitalize on the opportunity today?

E-commerce is booming, and with social media channels like Twitter and Facebook that help propel marketing efforts, every business should capitalize on the opportunity, even if it’s one big fad that will be laughed at in 10 years. So what? Get your piece of the pie now, before it’s gone.

A good social media strategy you can use right now:

– Narrow your audience down, concisely. Connect with your demographic (i.e., if you’re a pet store in Del Mar, connect with cat lovers in La Jolla)

–Promote your brand by encouraging “followers” or “likes” with special Twitter-and-Facebook-only deals, and so on.

–Be consistent. Don’t look flakey. People actually listen! Random posts, or outdated social media channels look bad. If you don’t have time, find a San Diego marketing firm to help you. It costs less than the price of hiring a marketing staff person.

One client recently said, “Just because someone’s doing something in marketing, doesn’t mean it’s right for everyone,” and it’s a golden standard that rings true. But all companies want to make money. It’s important to look at the market, analyze carefully, and step into the right direction with your small business. Why not ride the social marketing wave if it means you can increase profits today?

Written by Ruth Fine

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