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Wednesday, January 5, 2011

The modern business, the social business

When people talk about social media they immediately start thinking about Facebook, Twitter etc but social media can be a whole new way of working for organisations.  Instead of talking about social media how about talking about social business.  This is about transforming how you run your business using social media. The following outlines ways of changing your business using social media:
Marketing –  If you want to market your products, grow your brand awareness, engage with your customers and drive sales online and you want to do this in a cost effective manner then social media is perfect for this.
Human Resources – Instead of going the traditional route and contacting employment agencies why don’t you start searching for, contacting and recruiting directly through LinkedIn.
Before you contact a person you  know who they are connected to, who recommends them,  what they have contributed online through linkedin groups and questions/answers and what their background is.  When you find the right person you can contact them through an introduction and begin the interview process at no cost.
Product Development – When you want to develop new products maybe this time you’ll streamline your product management team and set up a website that will collect ideas for new functionality from existing and new customers.  Dell ideastorm is a perfect example.  Dell use this site to gather ideas for changes they should make to their products.  This saves Dell a lot of money.
Customer Service – How about getting customers to answer queries to their own issues?  This is exactly the type of service that is offered through Getsatisfaction.    This uses real time, dynamic customer support provided through the wisdom of crowds.
Sales -  If you want customers to market your products and increase your sales by referral why not implement a rating and recommendation system that is run by an independent company such as the Irish company LouderVoice.   From research 80% of recommendations from friends are trusted but what’s even more interesting is that 60% of recommendations from people we don’t know are still trusted.  So if you don’t have a recommendations/rating system in place and you’re selling products then make sure to add one in.
Knowledge Management – There are many ways of modernising how you capture, exchange and share information in an organisation and these tools help promote better communication and a more efficient organisation. For example, you can create Wiki’s to share your documentation, create internal private social networks to increase conversation or implement micro-blogging tools to reduce on e-mail.
Do you think social media will have such a dramatic effect on organisations ?

Thursday, December 30, 2010

50% Increase in Engagement with Blog Posts after Day One

According to new figs released by analytics firm Postrank, the predicted demise of blogs as a result of the success of social media appears to be wide of the mark.
Since 2007 Postrank has been analysing blog metrics including comments, trackbacks, shared links and online bookmarks for the 1000 most-engaging feeds and 100,000 randomly selected blog posts. The resulting evidence paints a very interesting picture as to the evolution of blogging over the period.
The three major findings are:
  1. Overall total engagement has increased 30% year on year.
  2. Commenting: On-site engagement has decreased.
  3. Link Sharing: Off site engagement has increased.

Another interesting outcome is that blog posts now have a much longer lifespan. In 2007, only 6% of total engagement happened after the day of posting , while in 2008 it was up to 17%. This year it has more than doubled with a full 36% of engagement happening after day one.
So what might this mean for business?
Other research indicates that time remains the number one factor cited as to why businesses choose not to blog, with approximately 2/3 yet to start. And for those that believed blogging was something that would run its course – the contrary in fact now appears to be the case.
The growth of social media means that a company blog is now an even more effective means of communicating with customers . Blogging combined with social media allows the smallest businesses a long reach.
So then!…perhaps there has never been a better time to start blogging… what do you think?