Ok, so the title isn’t exactly sage wisdom. You’d be surprised at how hard it is to actually grasp, though.
If you’re trying to understand what social media can do for your company, you need to keep in mind that it isn’t exactly like any other resource you’ve got. It’s got a bit of just about everything (usually with the exception of the checkout line, but that’s another discussion entirely) without the distinctiveness of being a proper branch.
There’s a little bit of marketing, but there’s also a bit of customer service and even the sales floor – it’s a perfect place for both employee and other customers to make recommendations. The main thing to remember, as David Berkowitz points out, is that SM isn’t business the way you’re used to running it. It’s a whole new frontier with different rules than the one’s you’re probably used to.
Understanding what you can, and should, do with social media is the key to actually profiting from it, because the success it can provide isn’t the same as you’d get from opening a storefront property. That means that you can have a harder time making sure that you’re actually getting your money’s worth out of it, but the possible benefits are very real even if they don’t fit into your standard pie chart.