social media

Employers: Social media is your friend

 

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It’s the new year and I’ve been having some discussions lately about if companies should allow employees to build a brand on social media.
Should they be allowed to talk about products and services? Will this not take away from our spotlight?

My opinion remains clear. Not only should everyone have an online presence, everyone should also work on it and use it for networking. Companies who limit their employees’ use of social media are losing out on establishing brand ambassadors and creating an employee advocacy network. The greatest thing that can happen to your company (and your brand) is that your employees are enthusiastic to talk about it. According to the latest Edelman Trust Barometer
an employee advocate is two times more trusted than a CEO. Employers have an enormous opportunity to engage and capitalize on these powerful advocates, or risk missing out on an important group of supporters. Allow employees to spread your content – the effect can often be much greater than through your own distribution channels.

But what about drawing the line between private and professional (is the next question I am getting)?

If all you do is post about your company, everyone will think you do not have a life (or a personality). So do a bit of both. The nice thing about using social media as a person is that you have a human face. So write about your interests, post about your travels, your favorite food, your cat (well maybe limit the cat posts 🙂 Genuine posts are more important than marketing language.

Companies should not worry that lines will be blurred. Tell your employees that they should clearly brand their online posts as personal and their own (for instance, on their Twitter profile). And let them know (even though they probably already do) not to post confidential information, legal issues, strategies. For all this (and more) there are social media policies and guidelines (take a look at Dell or Adidas for inspiration).

And remember:

People build relationships with people, not companies.

 

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Marketers to increase social media usage

According to emarketer, marketers are using and investing in social media more, and will continue to do so. A new report reveals that whilst Facebook and Twitter are still the preferred social networks used by US companies, Instagram is expected to gain significant traction due to its improved advertising capabilities. And I am sure European companies will soon be following suit. Either way, marketeers continue to be committed to using the social media space.

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Social Media requires integration

Social media has not only had a major influence on society, but also on business, disrupting organizations for the past 10 years. Today, more and more companies have integrated social media into their marketing communications as a means of customer engagement. Now that the basics have been mastered, it no longer is about scaling social engagement but rather about focussing on partnering inwards as well as outwards.

Social media requires leadership

A social media strategy needs to work across the organization, across silos, support the company’s digital vision and requires new levels of employee engagement and advocacy. To be able to do this, strong leadership is needed to move social media beyond marketing communication and to create a true social business vision.

Altimeter has released a new analysis on “The 2015 State of Social Business: Priorities Shift from Scaling to Integrating” based on interviews with thought leaders, brands, technology vendors and a survey of 113 strategists (social, digital and/or heads of social) at companies with more than 250 employees.

Here are the most important findings in one infographic:

infografik-social-business-2015

 

 

Smartphone Jealousy

ChinaWe Are Social updated their annual Digital Statshot on China this week. And it does not look like the pace of digital adoption is slowing. Believe it or not – China now has more social media users than the US and Europe combined.

When I look at China’s digital landscape, I realize that we are not using our phones to their full potential. China’s great firewall may mean there is very limited access to services like Twitter, Facebook or Google but when you see how much messaging services like WeChat can do that sort of can become irrelevant. WeChat is not only a messaging service. It lets you play games, check into a flight, call a cab, make money transfers and soon also a stock trading function.

Not only is cheap technology an advantage in China but also with it being the largest internet culture (some 668 million wired people, 89% on phones alone!) make a great test market. And in China, mobile payments are much easier to use because it is more widely accepted. No need for merchant’s to have special terminals because they have accounts within social networks like WeChat. Imagine if you could pay for your pizza delivery in Europe using your WhatsApp service! And not to ignore giant Alibaba that has expanded their service for online cash for anything like paying your rent, bills etc. You can even earn better interest with them than with a regular bank and get a loan if you need it. Financial disruption at its best.

You can read the full report here:

Is our economy suffering from attention deficit disorder?

Bank of England’s Andrew Haldane caused quite a stir with his speech “Growing Fast and Slow” where he talked about the forces that underpin economic development. It is not about neoclassical growth theory or the role of education in the industrial revolution – rather he talks about how the internet and social media may be hindering economic growth. Is technology really undermining one of the key psychological prerequisites for economic growth: patience, and the willingness to put off current gratification for future gains? It is an interesting argument but one of which I am not completely convinced of yet. You can read the whole speech here.

 

Inroads in social media marketing for financial services

Consumers have long moved on from just using the internet for information-gathering. Social networks are growing at an incredible pace. We all know that social media lower costs and optimizes marketing spending. Now is the time for financial services companies to move from just “being” on social media and start to truly “engage” with their customers. At the end of the day it is all about using social media tools to build personalized customer relationships.

There are many financial companies, like American Express or UBS, already optimizing their use of social media. Accenture has identified 11 social media tactics that can help achieve a specific outcome and that should ideally not just be used in isolation.

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It is important to keep in mind, that social media marketing always needs to be fully integrated in your company’s digital and corporate strategy to achieve the best impact possible.

Here is a link to the full report.