Let me start by saying that anyone claiming your business can be more profitable simply by being on Facebook is a charlatan. Or an idiot. And I’m not sure which is worse.
For me, a Social Business is one that is outward looking. It genuinely cares about satisfying its customers. It not only acts on their feedback, it encourages feedback. A Social Business is innovative and responsive. And it isn’t necessarily on Facebook or Twitter.
Nice guys don’t get rich
Unfortunately, running a business in this way takes a lot of time. You must constantly analyse what is working and what is not. You must solicit, collate and build a plan around customer feedback. You have to stop running the kind of business that your bank manager wants to see in order to make it more social. All in all, it’s far easier to run an unsocial business. In fact, in terms of profitability and gross revenues, it seems make more sense to run an actively anti-social business. There are countless examples to back this up; in the banking sector; in flagrant multi-national tax avoidance; in tech companies’ increasingly closed, proprietary systems. The list goes on and on and gets longer each day.
If you’re here, there’s a good chance that you’re a nice person. And if you’re running your own business, large or small, you still need to sleep at night. We firmly believe that being nice and being in business need not be mutually exclusive positions.
A key characteristics of nice people is that they are open and welcoming to new people and ideas. They are willing to listen act on what they hear. It’s called empathy. The same is true for businesses.
Time is money
According to Steven Covey, one of the habits of highly effective people is taking time for yourself; going to the gym, walking the dog, sitting and thinking. He calls it Sharpening the Saw and uses a story to illustrate the point.
“A man walks through a wood and finds a lumberjack logging a tree. It’s hard work. After a while the man notices that the lumberjack’s saw is blunt. “You need to sharpen your saw”, he says. “But I have all these trees to chop up”, responds the lumberjack. “I don’t have time to stop and sharpen my saw”.”
In other words, we need to make the time to stop and regroup, reorganise our thoughts, and consider new ways of approaching the future. We need to do this both as people AND as business people. A truly Social Business will build this time into its operations. And it may end up being a lot of time. And, in the short-term at least, time is money.
This is what kills many small businesses efforts on the Social Web. As we know, the Social Web is great for gathering feedback and engaging with your customers. However, most businesses aren’t set up to be Social from the start. They are built around a product or service that they believe to be great, so that is their main focus. When they decide to raise their heads and look at their place in the wider world, it can be quite scary. They are not prepared for the sheer number of man-hours that can be consumed. They have no mechanisms for using feedback constructively. So they flounder and withdraw.
Unless your business has a willingness to listen and people who care enough about their customers to act on what they hear, your Facebook page isn’t going to help your business grow. Your initially enthusiastic Twitter timeline will be unused and useless.
Take the time to stop. Spend time listening. Then act with empathy.
And sleep soundly at night.