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Social Media: Laggard or Looser

Are you a Laggard?

Anytime a business enters a market with a product there is an adoption cycle.  This cycle goes through different phases from Innovators to Laggards.  Innovators jump at the chance to try something new and Laggards wait until the end to adopt the product.

product life cycle

Example of the product life cycle

Has your company adopted Social Media?

If your company has not yet adopted social media then you are behind the curve.  If you go on Facebook, Yelp, or any other of the networks and look up your competitors chances are you will find them.  Social Media is the Mid- to Late Majority Phase of the product life cycle.

Do you have a Social Media Strategy?

Chances are when you opened Facebook and jumped on the social media train you did not think about a strategy.  You need to have a strategy to know how to handle issues that may arise.  Things like:

  • Who is Responsible for:
    • Tweeting company news
    • Commenting on user comments on your wall
    • Reading discussion board entries
    • Monitoring blogs
  • What to do when negative press hits; remember negative press does not have to be a CNN story it could be a blog post.

Don’t be a Laggard!