Social Business is no Longer Optional
Despite perception the thing about social media is that it’s not really new. The nirvana of all marketing has always been to have people happily talk up your brand to their friends and peers and now with the range of social media tools at our disposal it’s just becoming easier to do so in increasing numbers.
Social Media is a lot like a cocktail party. You don’t walk around saying ‘Like me, like me.’ You act with courtesy, ask questions, say thoughtful things — and then people may like you.
We see the new tools for what they are… in no way a replacement but as a complement to the proven channels of interruption media after all we’re wired for interruption – our brains take notice of the new and surprising.
Why should we care?
We are experiencing a step-change in marketing… it’s becoming less about making a quick (and often repetitive) appeal to the masses and more about creating a personalised experience and establishing a long-term customer relationship.
This dovetails with the most recent Nielsen study on “trust in advertising” where the top 3 trusted channels are:
- Recommendations from people I know (90%)
- Brand websites (70%)
- Consumer opinions posted online (70%)
The shift to come is moving from a focus on external media consumption to the internalisation and business integration of what it means to become social. External media will always play a role, but it will become the tip of the iceberg.
On one hand, the public desires authentic interactions with brands, in social spaces, from real people with an expectation for real-time response. (Social Brands)
On the other, a business will require an internal, open and collaborative system to be in place that coordinates activities beyond just marketing. (Social Businesses)
Challenges
This opportunity for brands to more readily converse with their customers is all well and good but the challenge for brands, as with any relationship worth having, is to add value and be interesting….not just talk about themselves.
In the desire to be of the moment some brands have started using tools such as Facebook or Twitter but without much consideration as to how. (or whether they’re ready or have the resources to use the tools effectively) This is like going into the garden shed and grabbing a hammer and a spade and then trying to paint a wall.
Many of the social tools are fabulous but only when there is an underlying strategy behind their use – a Social Business Strategy. The tools will come and go. But social business as a powerful and effective communications channel is here to stay
What we’re starting to see is that brands who initially grabbed at the hero tools are wondering why their social media play isn’t working as well as expected. The thing is that getting it right in social is not fast, cheap or easy.
Interestingly we find the biggest roadblock to social innovation is very often that of return on investment or “Social ROI”
The irony with this is that most social plays begin with the tools rather than an underlying strategy based upon customer insights….so it’s no wonder that Social ROI is tough to measure in the absence of clear objective
It’s not too late
If you haven’t started planting yet or if your garden is not yielding a harvest then is it too late?
Most certainly not…in August 2011 KPMG revealed that Australian businesses are trailing in the global race to adopt social media, with almost half of all Australian companies conceding no uptake at all.
So first mover advantage is certainly there to be had and we’d be happy to help you grow a fruitful social business. The rewards are there both financially and to your brand. To better understand the opportunity or to see some great case histories please contact us.
Please feel free to share.