Monday, July 21, 2008

Is Social Media for Big or Small Companies?

Recent discussions that I have had with companies and social media gurus have lead me to create this post. Is social media better depending on the size of the company? It is a tough question but here is my response, please let me know if you think I am missing something.

Small Guys

Small businesses have some advantages due to their stature (could not resist). They are quick, agile and quite. It is easier to start a social media strategy and they do not need a press release to do so. They are also better at responding to consumer problems because they do not deal with as much red tape. Additionally, it is easier to manage and mend relationships when dealing with fewer customers. It is also easier to make your consumers feel unique with this strategy because they know they are not competing with millions of consumers for your attention.

Big Players

Large Businesses are powerful and well endowed (too much there?). Being big helps because evangelists can sustain most of your social media strategies for you, you just have to find them. When you do, cherish them and treat them better than your own children, not really but you get the idea. Next is money. We all want it and the bigs have it. Since money is not a problem the websites, promotions and videos created can be much lavisher than smaller companies. This SM campaign should stand out and be a bit different than what has been done before. What will help is that bigs also get a lot of publicity. One post in The New York Times about Best Buy and their social network, tons of people pay attention to it.

Size Doesn't Matter

As you can see, size really does not matter. The crucial element is in the company's execution of their strategy. The size helps make certain things easier but remember that social media takes time and meaningful care to succeed just as any relationship requires.

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