Is Social Media Good For Business?
social media business
For small- or medium-sized business owners the use of social media, the answer is a solid “maybe”

EDITOR’S NOTE: This article is part one in a three-part series on social media and business.

As a small-business owner, I constantly ask myself, “How can I improve my marketing and advertising?” Of course, social media is a tempting alternative: It’s basically free, self-directed and, in the case of the holy trinity (Facebook, LinkedIn and Twitter) easily accounts for almost 80 percent of the time people spend online.

At the same time, 25-plus years in corporate America trained me to be skeptical, question everything and apply a healthy dose of critical thinking before committing to a solution.

In thinking about social media, business and resources, I tend to shy away from articles that over-simplify things, so I wanted to go beyond the “rules”, “deadly sins” and “commandments” that pepper the Internet.

Finally, I wanted to extract myself from the hysterical voices that prescribe social media as the solution to everything and who rant and rave against anyone who doesn’t agree 100 percent. Not everyone wears a blue shirt, 34 collar and 38 sleeves.

If you are a small- or medium-sized business owner, you have more than a few marketing alternatives available that can be effective, efficient and scalable. These include email, newsletters, blogs, Google, mobile, advertising in your community newspapers, joining networking groups and even advertising in some local radio stations, in addition to developing social media efforts.

When considering whether social media is right for your business, there are many questions to consider. Start by asking: “How much will my business benefit from social media?”

There are many implicit questions here:


  • What are you selling?
  • What is the decision-making process for your product?
  • What action are you intending to drive through social media?


Decisions and Risk

Many years ago, at Foote, Cone and Belding Advertising, we used something called the FCB Grid to guide some of our strategic decisions. If you have never heard of it, I suggest you Google it. The FCB grid was developed by Richard Vaughn, a senior vice president, and has been featured in dozens of articles, white papers and books.




Social media Courtesy: DraftFCB


Click image to enlarge

The basis of the FCB Grid is a cross of how people make decisions and the risk of making that decision. Decisions can be made rationally (based on features) and emotionally (sensorial), but all decisions have a degree of risk, measured by what the financial impact can be for the wrong decision.

Different degrees of risk demand different communications. Involved decisions (those having the higher risks) will have both: the highest need for information and the longest, most convoluted decision-making processes.






Social media business Courtesy: DraftFCB


Click image to enlarge

At the lower end, there are decisions that basically have no risk and tend to be impulse driven.

For example, an MBA degree is an expensive and important decision. Not only will you invest $40,000 to $100,000, but an MBA from the “wrong” school will be a huge mistake.






Meet Latina Entrepreneur Legendary Baker Cristie Besu

Meet Latina Entrepreneur Legendary Baker Cristie Besu

Cristie believes that you should not have to choose between delicious and better for you foods. The daughter of Cuban immigrants, Cristie Besu has had quite the journey herself. She’s the Founder and CEO of Eat Me Guilt Free, a health-focused line of bread, brownies,...

Women’s Golf Day Is Empowering for Hispanic Businesses

Women’s Golf Day Is Empowering for Hispanic Businesses

Latinas in all business can benefit by learning skills to last a lifetime. Women’s Golf Day (WGD) is a global movement that engages, empowers, and supports women and girls through golf and teaches them skills that last a lifetime. The one-day, four-hour event has...

An Entrepreneur’s Launch of a Luxury Accessory Brand

An Entrepreneur’s Launch of a Luxury Accessory Brand

What does it take to launch a luxury accessory brand? Creativity, a passion for what you do, the talent to produce a high quality product, business sense, creating outlets to sell your product, and marketing your product are just a few things that go into creating and...


Sign Up for the Latin Biz Today Newsletter

Video Gallery

PR Newswire

Featured Authors


Cash Flow Management for Small Business Owners

Cash Flow Management for Small Business Owners

A requirement for every successful small business and enterprise.   Cash flow management is the process by which an organization maintains control over the inflow and outflow of funds. The fundamental goal of cash flow management is to ensure that the incoming...





Entrepreneurship – Do It Your Way

Entrepreneurship – Do It Your Way

One of my favorite lines that I often quote is the hook from Frank Sinatra’s My Way— “I did it, I did it my way.” As entrepreneurs, we are generally the types who create our own rules and do things our own way. Sometimes it's good to reflect on why this individuality...





14 Takeaways From the World of Sports Business

14 Takeaways From the World of Sports Business

Check out these quick snapshots across the sports industry in May 2022 Welcome! Well, I am apparently over my anger about the baseball lockout. Yes, I am following the game to a degree, especially because the Mets are off to a good start. The New York Yankees are also...


Work, Life & Culture


Health & Fitness

Travel & Destinations

Hindsight Is Literally 2020!

Hindsight Is Literally 2020!

So as I was approaching my 57th birthday this past October, I came to realize that travel has been on my bucket list 40 years and that since my divorce 6 years ago, I have somehow always felt like I needed someone to give me permission to do so. Really, permission, at...

Personal Blogs

Latin Business Today

Pin It on Pinterest