In today’s digital age, social media platforms have become essential tools for businesses and individuals alike. They offer a vast audience, instant engagement, and endless opportunities for connection. However, relying solely on social media to build and maintain your brand can be a risky strategy. This is because social media is, in essence, rented land. Just like renting a property, you don’t own the platform, and you are subject to its rules, changes, and limitations. What happens if your social media account got hacked or deleted or blocked by the government like the potential bill in the USA to ban TikTok.
I’ve mentioned it a few times on my Podcast Engage And Thrive about the importance of owning your audience and their customer journey
I’m just going to repeat that one again, for those in the back who may not have heard me clearly: Social media is rented land.
The Risks of Relying Solely on Social Media
Platform Changes and Algorithm Updates
Social media platforms frequently update their algorithms and features, which can drastically impact your reach and engagement. What works today might not work tomorrow, and these changes are beyond your control. For instance, Facebook’s algorithm changes in 2018 reduced the organic reach of posts from pages, significantly affecting businesses that relied heavily on the platform for visibility .
Policy and Terms of Service Changes
Each platform has its own set of rules and policies, which can change without notice. These changes can affect how you use the platform and even result in content removal or account suspension if you inadvertently violate new terms. Importantly, most social media platforms, including Instagram and Facebook, state in their terms and conditions that they have the right to use, modify, and distribute your content as they see fit .
Ownership and Control
When you build your brand on social media, you are subject to the platform’s control. This means that any issues such as technical glitches, security breaches, or platform downtime can negatively impact your brand’s visibility and reputation. For example, a major outage in 2021 saw Facebook, Instagram, and WhatsApp go offline for hours, affecting millions of users worldwide . Additionally, the pending ban of TikTok in the USA highlights how geopolitical issues can disrupt your social media strategy overnight .
Data and Analytics Limitations
While social media platforms provide valuable insights and analytics, the data you receive is limited to what the platform chooses to share. This can restrict your ability to fully understand and optimise your marketing efforts. At the end of the day, you should be trying to understand your audience and see whether it aligns with the target audience you are looking to engage with, and how you can keep evolving to stay relevant for them.
Strategies to Mitigate Risks
Build Your Own Digital Assets
Invest in creating and maintaining your own digital assets, such as a website or a blog. These platforms provide complete control over your content, design, and user experience. According to a survey by Clutch, 64% of small businesses have a website, but many still heavily rely on social media.
Email Marketing/ Newsletters
Develop an email marketing strategy to build a direct line of communication with your audience. Email lists are valuable assets that you own, allowing you to reach your subscribers without relying on social media algorithms. Research shows that email marketing can generate an ROI of up to 4400% .
Email Marketing/ Newsletters
Develop an email marketing strategy to build a direct line of communication with your audience. Email lists are valuable assets that you own, allowing you to reach your subscribers without relying on social media algorithms. Research shows that email marketing can generate an ROI of up to 4400% .
THINKS: When was the last time you purchased something from Instagram vs purchased something from a website/ email blast?
Diversify Your Online Presence
Don’t put all your eggs in one basket. Use multiple social media platforms to reach a broader audience, but also focus on other online channels such as podcasts, webinars, and online communities.
THINKS: When was the last time you updated your Ideal Customer Profile? Is your target audience REALLY on the platforms you are playing with or are you just comfortable there?
Engage in Owned Media
Focus on creating content for platforms you control. This includes your website, blog, email newsletter, and any other owned media channels. Owned media allows you to build a loyal audience that isn’t dependent on third-party platforms.
THINKS: How many hours do you spend a week curating and posting on social media? Be honest with yourself. What if you spend that exact amount or even split the time to focus on content for your website?
Content Repurposing
Repurpose your social media content for other platforms. For example, turn a popular Instagram post into a blog article, a video, or an email newsletter. This maximises the value of your content and reaches different segments of your audience.
Conclusion
Before anyone starts to think I am preaching that you need to take a social media digital detox, although interesting episode that Amy Portfield interviewed Kate
All I am saying is get comfortable with being uncomfortable, and prepare for the worst. It’s your business and your sales that will be impacted, nobody else.
While social media is a powerful tool for brand building and audience engagement, it’s important to remember that it is rented land. To ensure long-term success and stability, diversify your digital presence by investing in your own assets and channels. By taking control of your online presence, you can protect your brand from the unpredictability of social media and build a more resilient and sustainable digital strategy.