The social media marketplace is moving fast. Facebook, Twitter, Linked, blogs and YouTube continue to grow at rapid rates as more people climb on the bandwagon. Every day, new services are being launched, and venture capital is pouring into startups.
It's enough to make many companies think they need to start moving quickly as well, otherwise they are going to fall behind the competition, consumers will move on, and sales will tumble.
My advice: stop, and take a deep breath.
Yes, there is a lot of activity within social media, and there plenty of breathless coverage about how quickly some social media companies are growing, and how some companies are successfully leveraging social media.
But the reality is there is still plenty of time to get engaged. The social media market is still emerging and in the early stages. Sure, there are some companies that have already embraced it, and of that group, a small group has enjoyed major success that has been celebrated on traditional media, blogs, Twitter and Facebook.
This coverage, however, has created a misconception among companies. It has got them thinking that if they don't move soon, they're doomed.
Wrong.
Instead, companies should take a pragmatic approach to social media. Rather than rushing into it by launching multiple services, they need to create strategic and tactical plans that meet their goals and objectives and, as important, serve the interests of customers, partners, suppliers, investors or employees.
In other words, adopting a methodical approach to social media is just fine. It means that while some companies may be doing 70 miles an hour in the express lane, there's nothing wrong with going 50 in the slow lane.
At the end of the day, you will get to the same destination, although it might take just a little longer to get there.
(Mark Evans is director of communications with Sysomos.)