Five Catalysts of Social Innovation that Drive Measurable Business Results
To help make 2011 a very socially successful New Year, all this week we will be featuring key highlights from our recent social resolutions Webcast – “Social Resolutions – Tips for Success with your Social Initiatives in 2011”. To kick this series off, here are our top five for making the most of your social efforts this year from our CMO, Debbie DeGabrielle!
This is the year social media comes of age. The social channel will be where business and consumer finally meet as equals. This, more than anything, is what will compel all major businesses to finally get serious about using social media to improve business outcomes.
To take advantage of this unprecedented opportunity requires the ability to satisfy the following five catalysts of social innovation:
1. In isolation social media will never achieve its real potential.
Social media as an ad hoc test, or departmental implementation, is not where big value results. Social media success requires being a social company at enterprise scale. Its true power lies in the ability to help you improve the performance of every customer touch.
By committing to work together across departments you will improve short term and long term results.
2. It’s time to take risks and “fail fast forward.”
Speed, informed risk taking and opportunism just might uncover the path to competitive advantage that has been eluding you. Social media provides an “in the moment” opportunity that other channels are not designed to accommodate. The ability to learn, test, refine and continuously improve lets you be both first and best to market.
To quote Tom Peters, “sloppy success is always better than perfect procrastination.”
3. Know who matters and why?
It isn’t always the person with the most followers. It isn’t always the most vocal person in the crowd. Influence may be one of the biggest nuances to consider. With Social Intelligence you’ll better understand the vital behaviors and characteristics of relevant influencers and be able to amplify your message through their efforts.
4. Social discourse is nothing if not honest.
The power of social conversation is that it is genuine. Social communities share what they think in unvarnished and uncensored terms. Be transparent and absolutely honest (no corporate speak). Problems can provide opportunities for “heroes in the making”
5. Analyze and optimize everything!
Social media allows you to analyze data, to test and refine. While social media is an “in the moment” channel, it is also a channel that lends itself to analysis and increasingly profitable results.
Is there a word, or a phrase that resonates more effectively with your audience? Is there an offer that returns a better and faster response? Understand where social adds to the mix and optimize every channel you have.
Social Intelligence will be critical to optimizing investments and driving long term brand affinity and sales.
Enterprises can no longer view social media as a “someday” pursuit or something simply to dabble in – instead, it is a critical business strategy to pursue right now.
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