Byrn3.com

With ROI, decision makers evaluate investments by comparing the magnitude and timing of expected gains to the magnitude and timing of investment costs. A good ROI means that investment returns compare favorably to investment costs.

ROI compares returns and costs by constructing a ratio, or percentage. In most ROI methods, an ROI ratio greater than 0.00 (or an ROI percentage greater than 0%) means the investment returns more than its cost. Other things being equal, the investment—or action, or business case scenario—with the higher ROI is considered the better choice, or the better business decision.

So many businesses know that they want to put social media to use, but they aren’t willing to look at their own business model and possibly alter it for the best of their audience.

Social media is not a simple snap-in, modular marketing tool. It must be examined for what it is – a cultural phenomenon. What will your company do to adapt to the social, connected masses and their (sometimes fickle) behavior?

A sound understanding of the fundamental aspects of social media as well as an ability to adapt to the whims of the audience are base requirements for any company that wants to use social media properly.

To compare a YouTube video to a TV commercial would be as foolish as comparing a car to a bicycle. They both contain video content, but that’s where the similarities end.

A YouTube video is part of a larger framework of social, cultural web use. It begins with search engine optimization, viral potential (if any/desired), inbound/outbound links, ratings, and chat commentary.

The technology behind social media is fast, flashy, often brilliant, but it is the least substantial part of what makes it run. Businesses are used to adapting to technological requirements – it’s all in the transfer of data, and that’s exactly where most misunderstand what needs to be done to truly adopt social media and put it to good use.

A few of the many important questions that must be answered in the strategic planning phase, before the fun begins:

• Who is in charge of listening (monitoring conversation) for your brand and in the communities you need to participate in? Where can employees access the information they gather?
• Who will be chiefly responsible for your content?
• What is your content approval process, if any?
• What plan of action is in place to deal with potential problems?
• How will you enable the messaging to contain the brand?
• How will messaging be managed company wide to avoid overlap, dilution and ensure an efficient synchronous communication?
• What are the guidelines for personal vs. company network uses?
• Metrics? Who will manage this?

Since social media is so completely different from any other type of media it requires a strategic structuring from your business. When you can answer the above questions at minimum you have begun to structure the relationship-building aspects of your business from the inside out.

Here are 10 mistakes business newbies on Twitter should avoid:

1. Doing Little or Nothing
With an estimated 25 to 30 percent of Twitter accounts either empty or “one tweet and done” is it surprising that these accounts generate little interest from others on Twitter? Your inactive or virtually inactive account sends a clear message that you’ve given up on Twitter.

2. Desperately Following
If you’re following hundreds of people and only a few dozen are following back doesn’t that send a message that you desperately want followers but aren’t getting them? Why not be patient and never let your Following count get more than 10 percent higher than your Followers count?

3. Tweeting Too Much
If you’re guilty of this you will annoy your followers and water down your message… which likely means you’ll lose followers faster than you get them. How much is too much? Start slowly and only tweet useful stuff two or three times a day. As you slowly increase this over several months pay attention to what, if anything, gets a response (it’s retweeted or commented on) … and when this happens. Let this be your guide.

4. Mostly Self-Promotional
Too much “me, me, me” talk will mark you as boring … or worse. Add value for others on Twitter and more followers will come. Mention your business or services only when you’ve been asked or in direct response to a stated need. If you consistently give, your followers will do the same and your good behavior will be well rewarded.

5. Failure to Connect
It can be tempting for businesses to give a Twitter monologue instead of engaging in a dialogue. If you get to know your followers by asking and answering questions, for example, you’ll show that you’re interested in them. They in turn will learn about you. This also means responding to any “@” messages promptly (within a day at most).

6. Not Helping Others
Acting as a connector or problem-solver will earn you loyal followers. Sometimes the simple act of retweeting a piece of great content will be seen as being helpful. Twitter truly is a place of getting more than you give, but you have to give first.

7. Mixing Business and Pleasure
Sending a mix of business and personal tweets can work when you’re well-established, but a better practice for a business new to Twitter is to keep it all professional. Otherwise you’re sending the message: We don’t know enough to keep our personal lives out of our business.

8. Impersonal avatars
Yes your business name or logo is important, but Twitter (and all social media) is about people. Use an avatar image that reflects your people not your brand name.

9. Wasting background space
Twitter gives you a lot of real estate around your Twitter-stream … don’t waste it. Use it to let people know what you do and why you do it. Put your people and the business personality on display. It’s also OK here to list a few other contact points such as email address, phone numbers and other social media URLs.

10. Not Checking In Regularly
Maintaining a Twitter account needs to become part of your routine. Once a day or twice a day or more, but it does need to become a regular thing to have any chance of helping your business.

So what am I missing? I’d love to hear other things businesses who are new on Twitter should do to improve their chances of social media success. By SMT.