I just ran across this insightful article about the myths of social media at BusinessWeek, and it got me thinking. Ochman lists six myths, but they’re easily broken into two categories: ease and cost. It’s true that people tend to think that a social media campaign will be easy and inexpensive to operate, but why? 

The answer is because they’re looking at it from the perspective of traditional build-and-blast marketing, where you create your message, buy your media vehicle, and distribute. The costs in this model are all up front: you have the creative development, of course, and the media buy. And then you wait. (Well, honestly, there’s always something to do, but you get my point.)

From this perspective, it’s “easier” to create a Facebook page instead of, say, a microsite, and “cheap” because there’s virtually no media buy. But there’s something missing. If you’ve been following this blog, you’ll know that one of my mantras has been “Participate!” And though I’m simplifying a bit, this is the crux of the issue: social media keeps up-front costs down, but it puts more weight on sustained, continual involvement and on leveraging the assets in all distribution media.

So the maxim “measure twice and cut once” is key, and planning how you intend to distribute is absolutely necessary. For example, Juniper Networks recently announced the new Juniper Networks by leveraging and promoting marketing assets and press content via manyl the Social Channels including: YouTube, Facebook, Twitter, Juniper  Community, Flicker,  and the Juniper.net and a microsite - TheNewNetworkisHere.com. Oh yeah, and don’t forget the normal press release translated around the world and a few e-mails and Google to boot.

As you can see, in addition to expertise, this involvement requires time, great planning, and yes, money. The fact is, there is nothing simple or automated about a social media campaign because the premise is about engagement, authenticity, and integrity. An effective social media program or campaign requires strategic planning, launching, monitoring, integration, optimization, and foremost, participation.

Now, this isn’t to say that money can’t be saved (e.g., print advertising was removed from the equation so not a big placement cost). There are as many, if not more, opportunities as there are challenges. But I think, first and foremost, companies should enter into a social media strategy with a realistic perspective on what it takes to be effective—I’d narrow it down to three critical things: planning experience, resources, and knowing what targets you want to reach.

What do you think it takes? Keep me honest