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Let's face it: Social media isn't going to make you rich. A great Facebook page won't save a struggling business, and the best Twitter account won't double your revenue. However, there is still a point to using social media for business purposes.
First, it's where your customers are. Not everyone turns to Facebook or Twitter for product information, but a recent Gallup study found 30 percent of consumers say social media has some influence on buying decisions, and 29 percent use social media "to follow trends/find product reviews and information." Would you rather have 30 percent of potential buyers finding information about you or your competitor?
Second, it can be a powerful listening tool. Your customers might be talking about you. Your competitors might be talking about you. Wouldn't you like to know what they're saying? Being active on social media doesn't always mean posting content. Simply listening to what others are saying can provide valuable information. Since Facebook and Twitter are free resources where you can control your message and reach thousands of potential customers, why wouldn't you take advantage?
It's not going to save your business. It's not going to make you rich. It's probably not a marketing channel on which you should spend more than few dollars here and there. But spending a few minutes a day? It's worth it.
