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08 Sep

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Lost: Brand Social Media Strategy

September 8, 2011 | By | One Comment

How do you know which social networks you should use to engage your target market? Do you judge by the number of likes or followers you have? Is your presence based on a hunch that your customers might be there?

Without good online intelligence, it’s hard for businesses to know for sure that they’re getting the most out of their social media investment. I was reminded of this when I read that nearly half (46%) of millionaires now use Facebook, according to a study from consulting and marketing firm Spectrem Group. And, says the study, the number of very wealthy Facebook users, with a net worth of $5 million to $25 million, is rising. For more info, check out the analysis by EcoFin Media’s Mike Periu on American Express OPEN Forum.

I’m not sure why I was surprised to learn that so many affluent people use Facebook—but it was a surprise. Good thing I don’t own a company that sells to the wealthy because my misperception, which was based on nothing but a Scooby-Doo like hunch, could have cost my imagined brand a lot of revenue. 

Check out Social Strategy1 President and COO Dennis Stoutenburgh’s Where Are Your Buyers?. And to retrieve your brand’s social media strategy from the land of the lost, contact the online intelligence team at Social Strategy1.

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