Social media update

Figures suggest that just about every successful company not only has a Web site, but also uses social media successfully. I thought it was time to take another look at what successful companies are up to and how they can monitor their success.

So just to recap, the big players in social media at the moment are probably Facebook, Twitter, LinkedIn, YouTube, Google+, and Pinterest. Published figures suggest that 72 percent of all the adults who are online use social networking sites. It’s also reckoned that 92 percent of companies use social media for recruitment. And 86 percent of employers say they research potential job candidates on social networks. Facebook claims to have over 1.19 billion users per month, and it has 728 million users each day. It also has around 9 million photos uploaded each month. 1 in 5 of 18 to 24-year-olds use Twitter each day, and Twitter say they’re adding 300 thousand users per day. Similarly, LinkedIn is growing – it increased by 105 percent between 2011 and 2013. And, of course, Facebook has got a lot attention this past week from the media and individual with its Look Back (https://facebook.com/lookback) short films showing what you’ve done on Facebook over the past 10 years

What many organizations are now setting as a social media goal is having ordinary users speak out for them. ‘Advocacy’ is the word that’s been hijacked for use in this situation. Companies are identifying potential customers or users and building strong relationships with them so that the customer will promote the product or company strongly on social media sites. So how can you build these important relationships? Feedback is an obvious way. Listen to what people are saying on social media and respond appropriately and quickly. To do this effectively, the social media team need to be integrated into the marketing and communications teams at a company. It doesn’t work if they are isolated within the organization. ‘Likes’ are an important place to start. Encourage people to ‘like’ your page, or ‘favorite’ a tweet.

It’s important that your social media presence has good content. You want people to keep coming back to read more. You can publicize products, and you can add more information about how to use your products, as well as answering users’ questions. You publicize great thing that staff or the company as a whole has done. This could be charity events, or prizes received. And you can advertise jobs. Make sure that good content is updated regularly and frequently. Then the next stage is to get product users to start adding content – photos of them using the product, reviews, how they used it to do something extra to its design spec! It’s at this stage that you can start monitoring and measuring interactions. Facebook pages contain lots of data. If you want measurement tools, there are: Crowdbooster, Demographics Pro, Moz Analytics, Simply Measured, Social Crawlytics, and True Social Metrics. If you want to listen to what people are saying (the technical term is sentiment) you can try Radian6, RowFeede, Sysomos, Topsy, or Vocus. For monitoring and responding there’s: BuddyMedia, Buffer, HootSuite, Meshfire, SocialEngage, and Sprout Social.

Not all social media has to be externally facing. You can have internal social media – allowing people from other departments to comment on developments, increase cross-team collaboration, and generally build up rapport between people. I’m very familiar with Microsoft’s Yammer, which is free and creates an easy-to-use forum. Other, similar, products are Chatter from Salesforce, Basecamp (which comes with a 60-day free trial), and Jive (originally called Clearspace).

If you start on social media, there are some terms that you need to be familiar with – for example sentiment, influence (measured by Klout and Social Authority), conversation drivers, engagement, timing, Click Through Rate (CTR), and followers and fans.

Get social media right, and you’ll stay in business. Get it wrong, or ignore it, and your organization could be heading for all sorts of trouble.

Social businesses

What is a social business? Wikipedia tells me that a social business was first defined by Prof Muhammad Yunus as a non-loss, non-dividend company designed to address a social objective within the highly regulated marketplace of today. A wider definition includes any business having a social rather than financial objective. Or a social enterprise can be defined as a commercial activity by socially minded organizations. Perhaps a better definition these days is a business that has adopted social networking tools and practices for internal and external functions across their organization.

The IBM Web site tells us that: “Social business technologies help people connect, communicate, and share information. Becoming a leader in your marketplace means using social solutions to transform how business gets done – driving cost savings, increasing revenue, and cultivating competitive advantages.” That definitely sounds like a good thing.

In a report from Altimeter entitled The Evolution of Social Business: Six Stages of Social Business Transformation, it’s suggested that many social strategies are not linked to business goals, but are instead often driven by a “social for social’s sake” orientation. The report notes that, even when goals are aligned, social initiatives frequently must deal with a lack of defined strategy, governance, or funding. The report suggest six stages a company has to go through to become a social business:

• Planning – understand how customers use social channels and prioritize strategic goals where social can have the most impact.
• Presence – amplify existing marketing efforts and encourage sharing
• Engagement – drive considerations to purchase and provide direct support with internal employee engagement.
• Formalized – set governance for social, create discipline and process, and have strategic business goals.
• Strategic – scale across business units and move into HR, sales, finance, and supply chain.
• Converged – social drives transformation and integrates social philosophy into all aspects of the enterprise.

Becoming a social business is not something that can be left for tomorrow, organizations need to act now. They need to identify what it is they do well, and they need to get the message out there. And that last part comes with two health warnings! You need to be using the same social media as your clients and potential clients. If they don’t use the same media, they won’t see the message. Secondly, keep your eye on new media. Facebook, Twitter, Youtube, LinkedIn, Google plus may not always be kings of the heap. Pinterest is currently very popular. Watch out for trends – so you don’t lose that link with clients and potential clients. Maybe you should be looking at smartphone apps that will make it easy for people to come to you for whatever it is you supply.

Interestingly, there are products like Yammer (www.yammer.com), which Microsoft bought last year, Chatter, and others, that offer private social networks for organizations.

IBM VPs Jeff Schick and Sandy Carter were on stage at IBM Connect 2013 showing off the capabilities in IBM’s social business platform. It seems that companies are combining social technologies, the cloud, mobile, and analytics to create a flexible, intelligent framework for making the most of social connections. In an IBM survey of CEOs, 57% picked social business as a top priority and nearly three quarters (73%) are making significant investments in analysing data.

According to Jeff Schick: “A disconnect between how we live our lives – through digital connections and sharing – and how we work isn’t sustainable. Particularly since the new generation of workers who will fill companies’ ranks don’t know any other way of interacting and working than social media. The rate of productivity, innovation, and employee retention will increasingly depend on who can master this coming age of social business.”

For an organization to just have a social media strategy isn’t enough. The organization must transform itself into a social business to ensure its continued success.