Toronto Social Media Advice: The Consequences of Not Having Social Media Training
The social media force is likened to a wave that literally breaks any barrier. According to a research that polled 111 executives from a variety of firms including small and medium enterprises (SMEs), 71% of them expressed fear of social media risks. 36% of those sampled indicated having received social media training.
This research brought to the fore the need for social media training across the board. The inherent risks of social media incompetency are very high compared to the perceived investment that needs to be made in training social media professionals.
Companies stand to lose in a major way if their teams don’t have the appropriate training that can make them stand out in the execution of social media strategies.
The Threat of Competition
Many businesses have adopted the use of social media in their functions. Some of them have excellent social integration strategies that give them a head start in the market compared to their competition. If you are to stand out in such a market relative to your competitors, you need to move beyond the ordinary and incorporate a thorough social media formulation and execution plan. Lack of training will therefore put you at a disadvantaged point and you will not be able to compete effectively on the social media front.
Ineffective Marketing Strategies
Marketing in the contemporary world has encompassed the concept of social media. For you as a company to register success in the formulation of market strategies, you need a thorough grounding as far as social media usage is concerned. Many companies have employed superficial approaches to social media thereby making their social strategies more of guesswork structures than well founded plans. This reduces the effectiveness of marketing strategies both on the social media platforms and the other fronts as well.
Inaccurate measurement of ROI
Return on investment (ROI) is a very useful metric when it comes to measurement of the worth of investments the company has made. To enable you in calculating the ROI, you need well designed social media goals. The formulation of social media goals needs adequate training. Without a thorough orientation in matters of social media and goal setting, you are likely to come up with objectives that may not be achievable and measurable. This will affect to a greater extent the measurement of the ROI hence keeping the company in the dark concerning the performance of their social media investments.
Underutilization of Assets
According to a research from Capgermini and MIT, social media has the potential of increasing output per asset. Digitally savvy employees have the potential of increasing the bottom line of the company as compared to their counterparts. Digital intensity including social media can help a company derive more revenue from their tangible assets. At the turn of the 21st century, many companies started becoming more conscious on their physical and non-physical assets and their productivity. Lack of social media training therefore will lessen the revenue, profit margins and ultimately affect the market valuation of companies.
Social media training therefore needs to be given a priority. Superficial knowledge of social media and how it operates cannot guarantee you success in your operations. You need to invest in training, acquisition of the necessary social media tools and an enabling environment for you to thrive.