Time VS Opportunity with Social Media #SM

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Here's an interesting post about calculating the time-opportunity costs of social media on The FinancialBrand.com website The equation here assumes that it's the effort of one person to instigate and drive SM for the whole company. So the opportunity cost is whether she could be doing something more beneficial or rewarding with her time.

I think Susan's work is could be seen to empower a whole workforce, to inspire the whole company to become more social. At that point the opportunity cost is far far greater than just Susan's time.

Social Media for business is not about one or two people, it's about the whole company, its about the future of the business and whether or not you intend to exist in ten years time.

 

This issue and confusion around social media and time bugs the heck out of me because people who don't understand the tools are the ones making these comments.

Social media takes more time than you might think. A minimum of five hours per week is required to maintain each social media account

Everyone is different, each company has a different purpose and focus for social.

One thing is for sure. You can't block out time for social media, like you can't set 60 min at the start of the day and that's it. I recommend (to new companies/users), spend 60 minuets a day that's 3 x 20 min and use that time efficiently with some set tasks plus replying and engaging in the conversations happening then and there. If you have the odd moment you can check in and reply or share something and of course while you're out and about it's quick in easy to post a tweet from your iPhone, check in or twitpic.

Many companies use a content calendar to plan and schedule updates on Twitter and FB over the next week or month, well scripted to be conversational. Scheduling posts reduces your time during the week and means you can just focus on engagement and developing the conversations etc.

Ideally you'd not have any time restrictions and you'd spend as much time as you needed to achieve your goals, grow your audience and engage and participate in your key communities.

How much time do you spend on social media for your company/business accounts?