If your company or brand is trying to have a presence in every social media outlet possible, you might have social media FOMO (fear of missing out). But fear not, there is a cure, and unlike consumer FOMO, you don’t need to stop marketing completely.
“Don’t I have to be on every social media outlet? How will I find my prospects and customers?”
If you’re asking this question, you probably already have FOMO. You can escape FOMO with one simple question:
“Is this the media in which my prospects prefer to establish relationships?”
EAT24, in what is now a well-publicized move (much to their benefit), recently broke up with Facebook. If you haven’t done so already, you should read their tongue-in-cheek-but-entirely-serious rationale as well as Facebook’s response.
What they really are saying is they don’t believe social media (specifically Facebook, but this applies to any social media) is about blasting out ads to their fan base. Rather, it is about establishing relationships and raving fans. They conclude, given that Facebook allows them very limited organic reach, that they cannot succeed in engaging their fans and building relationships (even those based on sushi porn) in this particular media.
Will this cost them exposure? Yes. And while I have no inside knowledge of their media strategy, it’s easy to conclude there are other media which are more effective for their prospects.
They could buy more exposure on Facebook, but it’s also obvious that the amount and depth of engagement is simply not worth it—there are better places to spend that marketing budget.
Applying the test above, it becomes clear their customers and prospects don’t really prefer to build relationships on Facebook, so it’s not worth spending the time and money.
In another recent high-profile move, OKCupid strongly urged its customers not to use the Firefox web browser on their site due to the homophobia of Brendan Eich, the now former head of Mozilla, the organization that publishes Firefox. Given Firefox’s 10.5% market share (source: netmarketshare.com April 2, 2014), this could be a risky move.
Firefox isn’t a social medium, but it is an important means of accessing OKCupid’s services (and every other service online). OKCupid is making two statements with this action:
- their customers and prospects care about equality and will act on that belief, and
- it’s easy to engage with them using another browser (Chrome, Safari, etc.).
OKCupid clearly believes that once the information about Eich’s homophobia is known, Firefox is not where its prospect and customers will prefer to engage so it does not feel the need to be easily available in every browser.
Back to your brand: How much time and effort are you investing in making sure you are available everywhere—on every browser, every social media outlet, and everywhere else? Are these time and budget investments well spent? Do they have the expected or needed ROI?
You know who your customers are. You know which prospects you are trying to target. Make sure you’re spending your time and money doing what they need you to do to build those relationships.
So before making an investment in a new media outlet, ask yourself: Is this the medium in which my prospects prefer to establish relationships?
It’s a surefire cure for your FOMO.