Is Facebook Just a Well Played Money Pit?!
 by Kristi Hagen

Planet Ocean plays as a case study to know...
Is Facebook Just a Well Played Money Pit?!
The First Steps to Understanding and Deciding if Social Media & Facebook are for You. — By Graham Silbermann

money-pit.jpgAs social media marketers there is one thing we are starting to hear more frequently every day: stories of failure.

They begin like this, "I hired a Twitter expert but..." or, "We did social media and it was a waste of time." The themes are all familiar. Business owners spending valuable time, energy and resources to get little or no return, or worse, getting their fingers burned with empty promises. The result is an increasing number of people feeling disillusioned with social media.

We here at have seen actual measurable success within social media. Are we making money hand over fist because of However, we are meeting our well planned goals. So, before we get into the nitty-gritty of tips, tricks and best practices let's address the most important first step to actual success: identifying goals.

Without a goal, how will you measure success? Without thinking about why you're investing in social media, it is almost certain that you will waste time and money. Identifying needs and priorities will help allocate resources and assist in selecting the best networks. Equally, social media is not for everyone. For example, wholesalers, parts makers or companies who are strictly b2b may never need a Facebook page.

There are really only two real over-arching business reasons to invest in a social media presence:

1. To promote a brand or service positively - If the goal is to promote a brand image, the secondary goals are to be informational, build reputation and loyal fans.

2. To sell products - If the goal is to sell products, then the meat and potatoes of your social media push is to generate marketing leads from promotions, or actually get the product sold by directing the visitor to a shopping cart, online store or providing an incenti...

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