Saturday, March 22, 2014

Forget social media, it's about "social platforms"

Can't wait to read A Social Strategy: How We Profit from Social Media after hearing about author Mikołaj Jan Piskorski through the Harvard Business School site and this recent Forbes article by Steve Olenski. I have conversations with clients about social media strategy all the time and I'm excited to read Piskorski's angle. I totally agree that it is about BUSINESS RESULTS not LIKES! Here is a tiny taste of Olenski's article.

Olenski: What’s the biggest mistake and/or misconception brands have when it comes to social media?

Piskorski: There are two. I already pointed out to the first one. Brands often are too eager to inject themselves into conversations about their product. Despite a brand’s best efforts, most consumers are not going to identify with or trust a brand the way they would a friend. To alleviate this problem I recommend that companies focus on facilitating interactions between their customers.
The second issue is that companies often engage socially without clear business goals. Instead, they focus on getting the highest number of likes or followers, or getting highest rates of engagement. At the end of the day, none of these metrics matter if they do not lead to higher sales or lower costs. Companies that have mastered the social space start with their business objectives and ask: “What is the source of my competitive advantage, and how can I use social platforms to strengthen it further?” Without asking this question first, many efforts in this sphere end up having no business results, even if they create a lot of engagement with their customers.

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