Perception Is Reality

Posts Tagged ‘social media

In economics there is a concept called diminishing marginal utility. Essentially, this concept states that as you utilize more of a good or commodity, the satisfaction or pleasure you derive from it decreases between each consumption.

So, if I was to eat one slice of pizza, followed by another slice, followed by a third slice, the utility I would derive from subsequent consumption would decrease.

I am beginning to entertain the idea, that social media has diminishing marginal utility.

Please don’t hate: after the utopia concept of the wonders that social media can do, people like Malcolm Gladwell and PR expert Geoff Livingston have moved away from social media.

It seems that the more eggs you put your basket in, the more baskets you have.
but the more emptier they begin to look. The more social media you utilize, the less control you have over it. There is too much decentralization and you cant always utilize them efficiently, and logistically speaking, it becomes too much of a hassle.

the result? poor social media policy.

The next time you hear, read, and subsequently discuss social media in terms of PR, think about how much utility can be derived, before it starts diminishing.

What do you think?

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Pete Codella, of Codella Marketing has an interesting video up on MyRaganTV about online newsrooms:

What Every Media Site Should Have

I am a very strong advocate of online newsrooms and I understand that generally having a presence online is one of the best things you can do. Why is this? Well, One of the reasons is that it costs close to nothing to build your brand online, specially with free social media services. This is especially great for students attempting to stand out for prospective employers.

There’s many other reasons that Pete Codella himself highlights in the video as benefits of having an online presence, and no wonder he has a successful, unique service, called NewsCactus. Just look at what NewsCactus clients are saying (navigate the website, as you learn more about the service).

However, there’s some things I disagree with. For one, Codella says,

“the more baskets your information is in, the more opportunities you have to rank high…”

It’s marvelous if a company can put its eggs in multiple baskets. But it only works when the company has enough eggs to show. More baskets mean less eggs per basket, and the less visible they are.

If a company uses all the social media and uses their website or other online presence as a center point of consolidation, this is good. But there are two issues that one must take into account:

  1. Can you keep up with the need to constantly update your various presences with relevant information?
  2. Is it feasible, or even necessary? In other words, do you have a following, or a target market that you can reach by expanding across the multiple networks.

It should go without saying, that a company must build its multiple networks one by one (or simultaneously if it is affordable, and meets the conditions mentioned above.

It is a really progressive idea to get involved in all facets and be everywhere, but in a situation of crisis, it may become much more unmanageable.

A simple example is the very prominent Australian bank, BankWest. BankWest has multiple YouTube accounts. EverydayOlympics has been stagnant for over a year now, and HappyBanking has been quiet for an equally long time. This is the same with their Twitter account.

The idea is, if it doesn’t need to be done, don’t do it. It’s Ockham’s Razor of sorts. And while I admire Pete Codella’s unique online newsroom service, I believe that being ubiquitous doesn’t work all the time.


About the Author…

Born in Karachi, Pakistan in an Adventist hospital, I grew up in a city where on one side I experienced poverty and oppression, while on the other I had the good fortune of Tabish Bhimani being a member of an upper middle-class business family...more...

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