From TikTok to Parler and other new entries into the social media landscape, how do you know if it will pay off to be an early adopter or if you should wait and see what happens? Before diving into a new social commitment, brand owners must review each new platform thoroughly and make sure it’s a perfect fit.
If it’s not absolutely perfect, it’s often wise to wait and see what happens. Since most new platforms don’t have analytics at launch, many don’t have a way to monetize at the start. Additionally, many will heat up with a burst of media coverage and then quickly fizzle out. If your brand is committed to social media for the long haul (and by now it should be), you can afford to be strategic about when to enter. On the flip side, if you know this is your perfect platform, then by all means put a stake in the ground early. Be careful to remember that a targeted and strategic approach is almost always better than scattershot and trying to be everywhere.
Here are a few things to review before jumping into a new social media platform:
Target market – Is your target market the biggest early adopter of this new social media platform? If your target is not on the platform in full force, it will be best to pass until you have more information.
Time – Do you have the time to thoroughly explore the platform’s capabilities, create a comprehensive strategy and custom content for the site? You won’t want to jump into something new only part way, and being a trailblazer on a new platform takes serious commitment.
Budget – Take a deep dive into your budget to confirm you have dollars to spend. You need to cover the time you’ll take to investigate the new platform, as well as any management and creative costs. You won’t want to cut other social platforms that are delivering in order to participate in something unproven, so you must be able to find available dollars.
Content opportunities – Does the format lend itself to create content that uniquely fits your brand? If the format isn’t easily translatable to content for your business, or if it’s similar to a platform you’re already using, you may want to hold off.
Trackable – Even if a lot of your target market is on the platform, are there enough of them to provide a good reach? This might be difficult to determine as many new platforms don’t have robust analytics. However, you’ll want to be able to prove that you’re in the right spot, so a certain amount of analytics must be available before you dive in.
Not every new platform will be the right fit for your business. Additionally, you don’t need to be on every social media platform. Before creating an account on a newly emerged social media platform, make sure that it’s a good fit. If not, it is best to wait and see if the platform continues to grow.