Business and Social Media: A Non-linear Process
November 16, 2008 by Mary Wynne-Wynter
Social Media:Community Snapshot
Social media will increasingly become more important to businesses that must find new ways to gain influence and increase attention share in peer-to-peer (friends) networks.
However, the strategies being developed to help companies accomplish this are often loosely based on a traditional sales and marketing funnel analogy, identifying community members as:
- visitors
- prospects
- leads
- opportunities
- customers
The funnel goal is to focus efforts on the people who are most likely to be influenced to take action and move them through the funnel.
This is an effective social network model but is based on assumptions that are not applicable for many businesses. The graphic simply illustrates a non-linear social community model as a connected group of people, including a tiny percentage who talk and a very large percentage who listen only, and who all have latent needs. Often, that’s it!
In this model, people (peers) who listen only to other people (peers and brand) may be just as likely to be influenced as the small percentage of people (peers) who talk. And there’s no way of knowing what the brand (people) can do to facilitate that. It requires experiential learning.
Because many communities look and act like this, its critical that business social media strategies differentiate assumptions from myths and not base their quest for quantitative metrics and ROI on those myths. Its harder to do that than it sounds because we individually and collectively (culture) identify with what’s worked in the past. Its what we “know”.
But success could mean testing many assumptions about the 95% of community members who listen only, and learning how to earn their attention and better understand them. Compared to traditional marketing methods, its a less clear, test and learn approach, dependent more on time than money. But that should not mean a casual or haphazard, half-hearted approach to social media.
Regardless of how tentative you feel about it, or how small you start, take it seriously. This is the future, and whatever the size of your business, an important decision you’ll make and change that you’ll lead.
Business and Social Media:The Computing Shift
November 11, 2008 by Mary Wynne-Wynter
Social Media and Business:Computing Shift
Business Users & Social Media:Creating Natural Influence
There’s little doubt that the coming explosion of social media will greatly impact how businesses will interact in the future. The problem is that many of us who will influence businesses through our consulting, speaking and writing are mostly talking to each other and preaching to the choir so to speak.
The general consensus is that authentic communications, not technology, must drive social media initiatives. I agree with that. But the more I talk to traditional businesses of all sizes, the more I hear concerns about the short and long-term integration of internal and external social networking with their enterprise systems.
So I’ve been following Microsoft’s direction as they re-position their business and enterprise systems for social computing on the server platform, the cloud platform and combinations of those. I don’t approach projects from the technical side but I’ve come around to the importance of aligning social media strategies with corporate computing strategies. That means understanding how both are evolving and corresponding, as well as following Microsoft’s direction.
The graphics show my preference for shifting power to end users by giving them the choice, independence and synchronized data inherent in cloud models. Although this is an ideal, its likely a long way off for most traditional businesses. I don’t need to be in I.T. to understand the implications and that none of these proposed enterprise system change models are simple.
But I do think that an effective traditional business social media strategy must incorporate the clients’ enterprise systems: what they have now, what they plan for the long-term and Microsoft’s social computing direction. For business social media initiatives, technology doesn’t lead, but it matters.
Social Media and the Medical Device Industry
November 8, 2008 by Mary Wynne-Wynter
Social Media - Medical Device Industry
I have a former background in machine-tool, as a controller and later, a partner. A key market was medical device which has continued to grow, 6% annually in the U.S., which manufactures a large percentage of global product.
Despite industry consolidation, approximately 80% of the more than 8,000 U.S. medical device firms employ less than 50 people. What they lack in resources, they can make up in agility and responsiveness to highly specific customer needs and requirements which include R&D partnerships and new market applications for existing products and processes.
Success for the small medical device manufacturer requires continual research, a focus on promotion, internal knowledge sharing and collaborative partnerships. For these reasons, as well as their insistence on getting the biggest (measurable) bang for their media investments, medical device companies can greatly benefit from social media.
Solo Professional Service Providers: What Business Are You In?
October 14, 2008 by Mary Wynne-Wynter
We’re in a financial crisis and possibly an economic downturn which means there’s even more advice being given, targeting independent professionals, than in more stable times. Most of it’s marketing related: being seen and heard, getting blog traffic and comments, building links, viral methods, etc. Its easy to get swept up in the speed, urgency and sheer volume of what you “should” do to succeed .
I suggest checking in with yourself and going the other way: slow down, be still and narrow your focus.
Early in 2008 I was deeply moved reading Suzanne Pleshette’s obituary and her philosophy about the entertainment industry and I blogged about it back then. I believe her philosophy is even more significant now:
“I’m an actress, and that’s why I’m still here,” she said in a 1999 interview. “Anybody who has the illusion that you can have a career as long as I have and be a star is kidding themselves.”
I believe that much of the great advice out there is for those who aim for stardom and not for actors. Solo psf’s are actors (although some are both). Know the business you’re in. You see, clients don’t care about stars. Clients are the most selfish species on the planet and they only care about themselves and what you’ll do for them. And rightfully so - its what they pay for and trust in! If you identify with the business of being a star, clients will quickly pick up on the vibe that its about you first, not them.
I’m not saying to ignore or discount great advice and information but rather that you filter it through a solo professional firm’s lens and follow and adopt it from a “client first” perspective. Remind yourself daily about the business that you’re in and commit to it for the long term.
Social Networks Part 4: Quantitative ROI
October 6, 2008 by Mary Wynne-Wynter
RedShift Social Media-Network Model for Business
Businesses across all industries are paying more attention to social networks which are predicted to explode worldwide. Although clearly there’s tremendous opportunity and potential it can be overwhelming to grasp the rapid disruption happening and the voluminous information getting pushed out.
Decision makers need help discerning what’s valuable from what’s hype and in taking a direction that makes sense for them. My goal is to help them do that with a unique 4-stage map that is more strategy than tactics and more visual than wordy.
My posts on stages 1-3 are:
- Social Networks Part 1: Community Segmentation
- Social Networks Part 2: Integration
- Social Networks Part 3: Qualitative ROI
The purpose integral to my model is that businesses of all size increase their natural natural influence by using social networks to expand their social capital, brand awareness and sense response skills and abilities.
The quantifiable return in my model is the sum of actionable metrics that follow the qualitative experiential learning of the earlier phase. What’s most important in the very organic world of social networks, is patiently directing the movement, or progression from one stage to the next and not losing commitment to authentic community relationship-building in the quest for ROI.
I developed this model to support a practical approach to social media with recommendations including:
- Determine if and how social networks can help you grow your business and/or improve profitability.
- Accept the disruption resulting from a shift from seller to buyer power.
- Involve people in the decision making process who will challenge assumptions and habitual responses to change and disruption.
- Understand that it will take two years to measure returns on integrating social networks, whether external, internal (behind the firewall), or both.
- Model natural and authentic communications both offline and online and give incentives for participation.
- Don’t wait, over-plan, over-control, micro-manage or over-analyze. Adopt a test and learn approach to social networks.
- Be open-minded and creative about results and metrics you choose to track, knowing that you could get an unexpected equivalent result, or something even better.
- If the above don’t convince you, consider the cost to your business of doing nothing.