SOCIAL media has fundamentally changed the way organisations across the world communicate and interact with their customers and it is important that all businesses keep up with the developments to help support their future growth.
Whilst some have resisted joining social networks, often concerned about the potential risks to brand reputation associated with online platforms, it is important for organisations to remember that conversations about your business will be happening online regardless of whether your company has a social media presence or not.
However, by keeping ac
SOCIAL media has fundamentally changed the way organisations across the world communicate and interact with their customers and it is important that all businesses keep up with the developments to help support their future growth.
Whilst some have resisted joining social networks, often concerned about the potential risks to brand reputation associated with online platforms, it is important for organisations to remember that conversations about your business will be happening online regardless of whether your company has a social media presence or not.
However, by keeping active and engaging in online conversations, you have the opportunity to respond and put your argument forward quickly and succinctly.
For the majority of businesses that have embraced social media, they have struggled to utilise it to its full potential and this is often due to a lack of importance being attached to it at a senior level.
A recent survey revealed that one in three companies do not have a social media strategy that has been discussed at board level*.
To be successful, social media needs to be driven by senior managers who understand the growing significance of online communication and its strategic impact on business growth.
Furthermore, businesses have to ensure that, once they have created their social media strategy, it is regularly updated because the social media landscape continues to evolve at a rapid pace and organisations need to be aware of the current trends and developments.
Through social media, you can build your business’s online brand profile and enhance your customer experience. Consumers are far mar more likely to be engaged with you on social networks than through traditional communication channels, such as advertising, as it is often the customer who starts the conversation with you online.
Social media also provides a strong platform for networking with key influencers in your sector and failing to take advantage of this could put you at a disadvantage to your competitors.
If your organisation expects greater activity, it is time to address these questions with management:
1. What part does social media play in our strategic plan, who reports to the board about social media strategy and outcomes, and what is their level of experience?
2. Do we have guidelines to issue to staff using social media and how do we encourage usage while mitigating risk?
3. How can social networks help to aid internal communications and break down silos across a business?
4. What resources have we allocated to social media projects and how do we measure our return on investment?
5. How can we monitor online discussions that our business should be involved in?
6. Can any of our services be delivered through social media to reach new customers or markets?
*Boardroom Bellwether Survey, FT-ICSA 2015