Spending Money to Make Friends
Originally written for CastNet Media on Nov 10, 2022
"The Sphere of Influence"
The sphere of influence is a theory that denotes that every person or entity has a certain level of reach in which they can control the narrative around them, a wider ring in which they can influence the narrative, and an even wider ring in which they simply know the context of a narrative. In practice, this theory is seen in action no better than when comparing personal versus business social media.
Personal social media is just that: personal.
The original intent of social media was as a tool to connect and share with friends. People from across the world joined to be able to share their lives with those they have disconnected with over the years. That is why there is still a certain age range that shares baby photos on Facebook and why the influence of Instagram is not what it used to be (see our blog on Instagram changes here).
Social media was not designed to be a marketing tool. As a business owner, one of the easiest mistakes made is blurring the line between the two online personas. Not only is this a safety gap for liability's sake, but the difference in management styles will keep your friends from losing interest in your business and your clients from viewing your business as less than professional.
Business social media needs structure.
While your personal social media may have sporadic posts, business social media needs to have consistent and well-developed posts throughout the calendar year. Posts that show off new items for sale, new features being developed, and behind-the-scenes looks at the people that run the business allow clients to feel a personal connection to the businesses they patronize.
Business social media is not "pay to win." It is "pay to play."
The law of diminishing returns must be kept in mind when investing in a company's social media. A company should be aware that more spending does not equal more views, clicks, or sales. It is encouraged that every business takes the time to figure out an acceptable budget for advertising and the desired return. One great example of utilizing paid advertising on social media can be found in the online learning platform, Springboard (https://www.springboard.com/blog/business-and-marketing/organic-paid-social-media/#:~:text=The%20benefits%20of%20paid%20social%20media%20are%20manifold%3A%20companies%20can,that%20they%20can%20increase%20conversions).
Finally, you don't have to figure it out alone.
We know how confusing all of this can be. The choices can seem numerous, and there's as much technical jargon as simple English. As a business owner, you do not have time to learn digital ad strategy and what PPC, CTR, GMBP, and the rest of the alphabet soup mean. You have a business to run. That's why there are digital experts like CastNet Media here to help and guide you in making responsible decisions with your money. Give us a call at (727) 892-2391 or find out more info at https://www.castnet.media/.
