So the gloss is off the apple. Finally.

We at Fanminder are unabashed proselytizers of mobile marketing. And we’ve made no bones about sharing our view that social media is a big time commitment best reserved for long term relationship building rather than affecting sales today. Done properly and with care, social media is indeed a revolution. At worst, a time suck that drives a harried business owner to distraction and lost opportunity costs.

Now the Wall Street Journal would seem to concur. Some facts from the story:

• social-media adoption by businesses with fewer than 100 employees doubled to 24% from 12%
• Just 22% made a profit last year from promoting their firms on social media, while 53% said they broke even. What’s more, 19% said they actually lost money due to their social-media initiatives.
• Fifty percent of the latter survey’s respondents say it requires more effort than expected.

The story does go on to paint a more nuanced picture of where and how it works for the profiled businesses.

I’ll end with noting that social media is a tool: in the right hands, it can work. But for most small business drycleaners, restaurants, retailers, and service businesses, it requires a significant investment and expertise for a payoff.