Social Media Risk of Not Investing 1: Why Not?

/Originally posted on Medium

The first and most embarrassing Risk of Not Investing in Social Media is having to potentially face your future self when asking the question, why didn’t we invest in Social Media?

The Scenario

Picture it: its 1 year after launching your startup, 3 years after releasing a new product, or 10 years after taking over the family business, and either you’re still unknown, your growth has slowed, your competition is doing much better than you are, or even worse, your business is facing closure. Perhaps you’re now busy with a turnaround process, and you’re now focusing on the heading ‘Marketing’. What will you have to say about Social Media?

Did your company have a Social Media presence at all? If not, why not?
Your future self will now try to create a long list of seemingly rational reasons that your company or brand was not on Social Media. It may have been fear, budget constraints, a lack of expertise or believing that social media is a waste of time. All of them seamed rational at the time, and some of them may still feel like they’re valid. But, as hindsight starts kicking in, you’ll soon see that they’re probably not valid at all. If you’re sitting at this table alone, you’ll only have yourself to face. If you’re facing a board, staff, investors or family, it’s going to be even harder trying to justify those reasons.

The truth is, for nearly every reason not to invest in Social Media, there are 10 reasons why your company should. If not for anything else, consider that you probably don’t want to risk having to face your future self asking the question, “ Why didn’t we invest in Social Media?”.

> Engage, Grow, Repeat >