Social Business: You May Be Losing More Than Customers

Source http://hubsome.com

Take a look around. Be honest with yourself, truly honest, in this moment. Are you a dinosaur? Well not you, but your business. Are you becoming one? Don’t be offended. Do you have employees, how many? What’s their median age? Thinking, thinking…

Leveraging social media is about much more than just trying to engage your customers, existing and prospective. You also have to ensure your employees are engaged, too. If you have talent you plan to keep, chances are they already have an opinion about where you are and where you should be - why don’t you ask them? Are you afraid to hear the truth? Don’t be.

It all starts with a conversation, an honest conversation. If you don’t ask, you’ll never know. Every employee you have can be an evangelist for your brand in the social web. Will you empower them to do so?

From CIO Magazine’s post last week:

There were a select few businesses, though, that understood this culture change and realized the power it held to create more productive, more satisfied and more connected employees. Today, these businesses are exploring ways to enable their now ‘social’ employees to collaborate and connect.

These social employees are more productive, more knowledge and more in tune with their business allowing them to stay a step ahead of their competition.

Did you know 4.0

US social media advertising predicted to top $3billion this year

Source Social Media / UK

US website eMarketer has predicted that American advertisers will spend $3.08billion in advertising on social networking sites this year.

This will represent a 55% increase on last year’s expenditure which was over $1.99 billion. The upwards trend will continue they say rising by a further 27.7% in 2012 bringing the total up to around $4billion.

This growth will mean that social networks will represent 10.08% of the total spent online in the US..

The estimate for 2011 is $1billion higher than eMarketers last estimate for social marketing spending in the US. The big difference in their projections is based on the gathering momentum of Facebook, which is the biggest player in the space.

Said eMarketer principle Debra Aho Williamson, who wrote the report ‘Worldwide Social Network Ad Spending: 2011 Outlook’: “In 2011, its global presence is something multinational advertisers cannot ignore.

 “If Facebook can continue to increase its global user base and boost the amount of revenue it generates per user, it could even surpass these forecasts. Facebook must continue to innovate its user experience and its ad platform.”

    You Can’t Fail in Anything if Success is Never Defined

    Source http://hubsome.com

    Failing to plan is planning to fail and this is a lesson that strategists and practitioners will learn as they progress. If transparency and authenticity were prevailing maxims over the last several years, accountability, metrics, and outcomes serve as the foundation for social media success in the immediate years ahead. An effective social media plan must address business dynamics and it takes much more than a Facebook and Twitter presence. To keep things simple, social media are transformative … but essentially they’re channels, services, and networks used for intelligence, communication, and visibility. If we introduced email to the organization today, would it focus solely on marketing or customer service? Of course not. Email is not owned by any one department. It extends the reach, voice, and capabilities of every person from the inside out and the outside in.

           How have you defined social media success?

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    Social Media at Work: Are You Promoting or Policing?

    Written by Brendan Heady

    Are you promoting or policing social media in your organization? Do you have a social media policy or a social media strategy? What is your company’s current position on employee social media use? Are you fostering creative communication or or are you merely policing Facebook and Twitter as time-wasters in the office? Where and when employers block social networks, enter the smart phone. We’ve become so connected in nearly all aspects of our social lives, employers are less and less likely to keep us unplugged, even when policy tries to encourage (or force) otherwise. So what happens when we loosen the ropes on social media use and let it roam free in our organizations? It begins to grow organically, and after an adoption period, fresh, creative thinking can lead to new ways of increased productivity! That’s not to say that social media can’t be abused, but it depends on the individual, and as a leader, it depends on the tone of respect and expectations for performance you set with your employees. Do you lead by example or with punishment? I personally would like to not only trust my employees, but also have them bring new ideas and thought partnership to our business objectives. 

    Collaboration is necessary to stay ahead in any of today’s markets - and no one CEO has all the right answers alone, in fact the best leaders leverage the diverse talents of their workforce. Maybe the next big idea for your company is out there in the mind of one of your employees, but if you don’t open the lines of communication you may never discover it. That’s where social media comes into play in my business. I want to hear about what my employees have to say about what our company is doing and what it should be doing. And what better way to foster this communication than through social media services like Twitter, Yammer and Facebook groups! Meetings and phone calls will always be par for the course, but its hard to schedule meetings with your entire team every week to discuss their thoughts and concerns for the company. 

    Social media opens the doors between CEO’s and other leaders with their individual contributors - if you’re an executive in your organization, it’s important to listen to what’s going on, listen to what’s being said. If you’re not interested in listening to what your employees have to say, be prepared to fall behind the curve. Social media is now officially a game-changer in every field in almost every organization. I read recently about a new social network called the Squad Room - a network for police officers to share information with one another. There is no wasted time when information and knowledge and best practices can be shared amongst law enforcement. Would you rather have your community officers sitting around policing the local coffee shop? 

    If you use social media for the right purposes - thought/knowledge exchange among a larger group of peers - you will see successful results. You don’t want want your teenage workers at your restaurant updating their Facebook status during work, that makes sense, but try creating a private Facebook group for your business and ask interesting questions - get your employees involved in driving the success of the business, allow them to spend that 10-15 minutes a day online checking in with the group. I think you’ll be surprised at what they can contribute to your business objectives! 

    It’s not about creating strict policies banning social media, in doing so you’re creating a culture that says “We don’t value sharing or socializing or openness.” Think about how you want your company to be perceived by your employees, and align a social media strategy that meets both your business & cultural objectives. 

    Charles Limb: Your brain on improv

    Every act of conscious learning requires the willingness to suffer an injury to one’s self-esteem. That is why young children, before they are aware of their own self-importance, learn so easily.

    Thomas Szasz