Episode Transcript
Key Takeaways
- Social media can be risky for business control.
- Organic reach on social media is diminishing.
- Advertising offers more control than organic social media.
- Social media should not be the primary lead source.
- Effective advertising is an investment, not a cost.
Introduction to Social Media
Welcome to another episode of Practice Perfect, the podcast for business owners running cosmetic surgery practices or medispas. Today, I want to talk to you about social media. Now, I’ve got a slightly contradictory opinion about social media.
Risks of Relying on Social Media
When you are engaging in social media, when you’re taking selfies, putting out videos, and relying on that for business, the control is 100% out of your hands. If Facebook, you know, goes under, or the government decides to shut them down or break them up, whatever, anything can happen, your business can tank.
The control is 100% out of your hands.
The History of Facebook
Let’s talk about what’s wrong with it. Many people that are very much advocates of social media these days, for example, Instagram is the latest and greatest favorite of everyone that’s touting social media these days. Those people are not taking into account the history of what happened with Facebook.
Organic Reach Limitations
Organic reach was the big thing. Social media was going to be the next wave. It was going to put advertising out of business because now all you had to do is put up a few selfies, go on social media, and rely on your fan base to really drive your business.
Control and Business Development
Do you want your business to be in your hands or do you want your business to be in the hands of third parties like Facebook and your customers? If you set anything other than in my hands, then you need to re-examine your business.
If you set anything other than in my hands, then you need to re-examine your business.
The Cost of Organic Social Media
That’s the problem with this organic reach. That’s where it can harm your business. That mindset is a disease and it can be very dangerous because here’s the reality. Social media isn’t free.
Advertising as an Investment
There’s a difference between a cost and an investment in your business and spending money on advertising doesn’t have to be a cost. It can be if it’s done wrong, right? If you’ve got people that are talking about branding and reach and exposure and top of mind awareness, yeah, absolutely, that’s going to be a waste of money for you.
Spending money on advertising doesn’t have to be a cost.
Social Media’s Role in Conversion
Now, the main reason that you want to do some social media activity, as long as it’s not your primary lead acquisition source, is because there is data out there that shows that it can increase your conversion rate in office. So when somebody becomes a lead and then you also have a lot of social media activity out there, the right kind of social media activity, then they start to know, like and trust you.
Conclusion
I don’t want you to feel that you need that and I want you, depending on wherever you are in your business, whether you’re doing well or not doing so well, to understand the reason behind social media, when to do it, how to do it, and the fact that it needs to be done in the right way. So I hope this has helped.