Are you engaging in Social Media or still trying to figure out what it’s all about?
You’re not alone. Most companies know of Facebook and Twitter but don’t know how they can use Social Media to grow their business.
A recent study by the Direct Marketing Association’s (DMA) Social Media Council, which surveyed 40% of the Fortune 100, revealed the following interesting stats:
- Nearly 60 percent of respondents believe social media can have a high impact on brand awareness.
- Close to 40 percent of respondents have a social media pilot underway at this time.
- Greater than 70% of those surveyed currently use external social networks for collaboration.
- External social networks are believed to have the most potential value to respondents’ respective organizations, above all other top emerging technologies.
- More than 45 percent believe social media can greatly impact capturing customer insights and feedback.
These results demonstrate that even some of the Fortune 100 either haven’t ventured into Social Media or are struggling to figure out how to effectively use the medium. View the full survey results here (PDF).
Seven Uses of Social Media
While the opportunities are unlimited, here are 7 ways your company can get involved in Social Media to impact your business. Click on Learn More to get more about each topic.
1. Business Development & Revenue Generation Learn More
Post a special offer to followers on Twitter and watch sales grow. The opportunities to leverage Twitter and other Social Media sites to drive revenue are endless.
CASE STUDY: Fast Company article about Dell driving $3 million in revenue in 18 months through Twitter offers.
Post a special offer to followers on Twitter and watch sales grow. The opportunities to leverage Twitter and other Social Media sites to drive revenue are endless.
CASE STUDY: Fast Company article about Dell driving $3 million in revenue in 18 months through Twitter offers.
2. Customer Service & Customer Insight Learn More
Actively monitor social networks for mentions, complaints and suggestions; then react swiftly and directly. Energized, enabled customers become powerful evangelists!
CASE STUDY: USA Today article on how Comcast and others use Twitter for customer service. In addition, here’s a ZDNet article regarding the ROI for online customer service.
Actively monitor social networks for mentions, complaints and suggestions; then react swiftly and directly. Energized, enabled customers become powerful evangelists!
CASE STUDY: USA Today article on how Comcast and others use Twitter for customer service. In addition, here’s a ZDNet article regarding the ROI for online customer service.
3. Brand Communication & Brand Awareness Learn More
Leveraging social media platforms, companies can drive brand awareness and manage brand communication (PR 2.0).
CASE STUDY: Check out Ford’s Fiesta Movement marketing campaign leveraging various Social Media to drive brand awareness for their 2011 Fiesta.
Leveraging social media platforms, companies can drive brand awareness and manage brand communication (PR 2.0).
CASE STUDY: Check out Ford’s Fiesta Movement marketing campaign leveraging various Social Media to drive brand awareness for their 2011 Fiesta.
4. Market Research Learn More
Social Media provides immediate access to a follower base (and through them their followers) to gauge consumer perspective. Social Media sites can be used to mine for data, research or even solicit user-generated-ideas.
CASE STUDY: Starbucks launched the My Starbucks Idea site enabling consumers to submit ideas and vote on them, from which Starbucks selects the most innovative.
Social Media provides immediate access to a follower base (and through them their followers) to gauge consumer perspective. Social Media sites can be used to mine for data, research or even solicit user-generated-ideas.
CASE STUDY: Starbucks launched the My Starbucks Idea site enabling consumers to submit ideas and vote on them, from which Starbucks selects the most innovative.
5. Competitive Research Learn More
A wealth of information and data are available on Twitter, LinkedIn, Plaxo and other Social Media sites. In addition, take the customer service example above and simply turn your monitoring toward tweets concerning your competition.
A wealth of information and data are available on Twitter, LinkedIn, Plaxo and other Social Media sites. In addition, take the customer service example above and simply turn your monitoring toward tweets concerning your competition.
6. HR / Candidate Search & Research Learn More
Using Social Media to find candidates increases the “Word-of-mouth” factor while giving you immediate access to their references through the candidate’s own social network.
Using Social Media to find candidates increases the “Word-of-mouth” factor while giving you immediate access to their references through the candidate’s own social network.
7. Internal Corporate Collaboration & Innovation Learn More
Now commonly referred to as Enterprise 2.0, social networking frameworks provide companies with long-sought methods to foster better internal communication, collaboration & innovation – while reducing time and cost.
CASE Study: Building the Enterprise 2.0 Business Case, an article on the FastForward Blog. In addition, this is an excellent presentation slide deck describing Enterprise 2.0 and it’s benefits.
Now commonly referred to as Enterprise 2.0, social networking frameworks provide companies with long-sought methods to foster better internal communication, collaboration & innovation – while reducing time and cost.
CASE Study: Building the Enterprise 2.0 Business Case, an article on the FastForward Blog. In addition, this is an excellent presentation slide deck describing Enterprise 2.0 and it’s benefits.
I’m curious what your thoughts are on these uses of Social Media and any other unique, real-world implementations you’ve experienced. Please add your comments, email or @ / DM us at http://twitter.com/HabaneroWeb.
Hi, I'm the Vice President, Client Services at Habanero, an award-winning Digital Creative Firm. We specialize in Web design, Interactive, Application Development, Social Media, SEO and Branding.
Follow us on Twitter at http://twitter.com/habaneroweb and http://twitter.com/gregmattison
Very useful and resourceful