Social media is enterprise media: How business can expand with the social universe

Implement first. Gain competitive advantage.

If you build it, they will come

 

Strategy. Tactics. Integration.

With anything new, there are always those who implement first. So it goes with social media. Some business leaders may be put off by the “social” in social media. It might be better to think of the technology as enterprise media.

Facebook’s had its difficulties, but what’s sure about social media is that several companies have realized that social media represents a strong competitive advantage. It’s not about social tactics, only. Like all communications, strategy and tactics have to align. Integration is key.

What’s happening regarding those who are using social technology?

The road to success is built one strategic brick at a time

Success. It speaks for itself. When companies that have been successful with social media are surveyed, the same findings come up again and again. Success is defined through:

• Developing a strategy

• Getting the C-suite to prioritize that strategy

• Dedicating social media staff to execute social media strategy

What are marketers and communicators doing?

Marketers and communicators, by the very nature of their work, either jumped or were forced into the social space. Since they’re “in”, what are they doing?

• 94 per cent of all businesses with a marketing department used social media as part of their marketing platform

• Almost 60 per cent of marketers are devoting the equivalent of a full work day to social media marketing development and maintenance

• 85 per cent think social media networks/tools will increase business development

• 69 per cent think it will increase traffic to corporate websites

• 65 per cent think it will improve marketplace insights

The numbers are compelling. Executives see the potential the digital universe offers to business. A new universe. Will executives invest in it?

Without investment, ideas are just loose currency rolling into a gutter of “what if”. But when businesses invest in the social media space?

How are companies that have already achieved “buy-in” doing?

They built it, and business came:

 When you commit, you produce a hit

Without a doubt, strategy’s important.

Are you developing a strategy? Do you have one? Is senior management on board?

How’s it going for the businesses that had the courage and foresight to invest in a social future?

Research indicates social enterprise initiatives add value to the bottom line:

• 77 per cent of people with 3 or more years of experience commit more than 6 hours weekly to social media marketing

Of those:

• 72 per cent  saw new partnerships — most of it B2B

• 78 per cent gained leads from social media marketing

• 75 per cent improved search engine rankings

Light through the threshold:

Opportunity

Since marketing and communications executives expect social enterprise to grow, the opportunity is in early integration.

• Only 30 per cent of businesses are getting help with some part of their social media marketing

Only 30 per cent.

• Seven out of ten businesses are ripe for individuals, internal or external, or an organization able to help businesses as they become increasingly social enterprises

Companies that realize social enterprise is here to stay, and:

• Develop strategy
• Prioritize that strategy

and then,

• Execute that strategy

… are going to be ahead.

Executives see the potential. Highly entrepreneurial firms that move quickly to seek competitive advantage will:

• Gain a foothold in an area of marketing and corporate communications that is bound to develop partnerships/relationships in the future
• Partnerships/relationships lead to business development

and

• Better communication

• Better communication leads to change throughout organizations

It’s this organizational change that will reveal increasing opportunities.

Some of these opportunities may not have even been born in the collective imagination yet.

But they will be. 

I’ll be continuing posts on Social media is enterprise media: How business can expand with the social universe

Coming soon:

Social. Mobile. The future.

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Stats: 2012 Social Media Marketing Industry Report

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