by Babatunde OladeleSocial media has come to stay, that is why you see individuals across income levels, large, medium and small-scale organisations, as well as public figures and institutions scurrying to have a notable presence on popular social media networks such as Facebook, Instagram, Twitter, YouTube, LinkedIn, Medium, to mention a few.The fact that you took the time to read this is another strong indication of the importance ascribed to social media these days. Business schools now dedicate modules to teaching it as part of the strategy for business success. Not to mention that 32-year-old Mark Zuckerberg, founder of Facebook, the largest social media network, is currently the 5th richest man in the world with an estimated worth of $56.0 billion.In this age and time, to be without a social media presence is like living in the Dark Ages. That on its own has unsavoury implications for a public figure or prominent organisation, as it means unscrupulous fellows will go ahead to create a social media accounts in the name of such persons or entities and use such to defraud innocent people. In Australia alone, there were reported cases of $300million lost to social media scammers in 2016, with one person losing $1.6million out of that sum. At TRW Consult, we recently did a survey for one of our clients, a major oil and gas corporation and discovered there were other social media accounts in the name and guise of this company, all with valid and up-to-date information on them meant to defraud innocent people who are either aiming to work for or do business with this organisation.So, the focus of this article is not about the increasing fraudulent practices around social media. That is a discourse for another day. What I intend to dwell on are some of the bad practices business owners/managers make in deploying social media networks for commercial success which ultimately result in frustrations and failures. Let’s look at them:
- Hiring IT experts to manage your social media accounts
- Hiring anyone to manage your social media accounts
- Doing it all in-house
- Spending less and expecting more
- Content is no longer king
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