Strategy

Sarah Worsham / Apr 28, 2009

Social Media is Already Affecting Business As We Know It

In his post yesterday, The Future of the Social Web: in Five Eras, Jeremiah Owyang summarizes a larger Forrester report on how the social web will impact businesses for the next fear years. Of particular interest to me are the 5 eras and how they are defined:

The Five Eras of the Social Web:

1) Era of Social Relationships: People connect to others and share
2) Era of Social Functionality: Social networks become like operating system
3) Era of Social Colonization: Every experience can now be social
4) Era of Social Context: Personalized and accurate content
5) Era of Social Commerce: Communities define future products and services

Forrester has era 5 starting around 2011, but I don’t think the eras are so clear-cut. Many companies are already tapping into the social web to define future products and service (era 5) through the concept of co-creation. Through it’s Nike+ iniative, the company engages runners and uses information and feedback to produce products they want. Brother has tapped the social web for hobby sewers to provide products and services for both its customers and for its dealers – leading to more sales of its high-end hobbiest sewing/embrodiery machines. Comcast has famously used the social web to improve customer service. I believe there is quite a bit of cross-over in the eras, with business leaders already jumping into the 5th era. The nice thing about the social web is that any sized company can jump right in, without the need for expensive research tools. I do believe, however, that the social web will also force these eras to happen and businesses who have not entered the fray will be left behind.

(photo by cloudzilla)

Technorati tags: social media, strategy, social media strategy, business, marketing strategy, marketing

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Sarah Worsham / Apr 21, 2009

Making Strategy Work – Be Transparent & Speak in Plain English

fearvincepal Do you have a strategy for your business? Do your employees and other stakeholders know what it is? In order for a strategy to work effectively, everyone in the company needs to be working towards the same goal. How can people help implement a strategy if they don’t know what it is? I’ve come from companies without clear strategies and goals. It makes it very difficult for the employees to know what they should be working towards. So everyone just works on what they think they should be working on. Individual thinking is great (and needed), but it won’t help you get where you need to be unless everyone is aligned.

Enter the current economic recession. Many companies have cut costs and laid off employees. Current employees are scared that they are going to lose their jobs. Everyone keeps their heads down and works. No one acts out. No acts of brilliance. No innovation. Nothing new. While many companies may think that cutting costs and just trying to make it through a recession is the way to survival, it will probably only work if they have deep enough pockets to survive for long enough. Who wants to go through life in fear and just surviving?

Figure out what makes your company different. What are you good at? What benefits can you offer your customers? How can you not only survive in this economy, but actually strive. When you figure it out, make sure everyone in your company knows. Keep goals and language simple so everyone understands where you want to go. Employees will be much happier if they can work towards a goal and if they know what the future holds – even if there is some risk, at least they understand what it will be. Not knowing breeds fear – and that’s not a good strategy.

(photo by Vincepal)

Technorati tags: economy, recession, strategy, business, marketing

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Sarah Worsham / Apr 17, 2009

Social Media Use Case: LEPFA – Lansing Entertainment & Public Facilities Authority

The Lansing Entertainment & Public Facilities Authority (LEPFA) manages the Lansing Center, Oldsmobile Park, Lansing City Market, as well as other local/regional events. LEPFA works to enhance local and regional economic growth by providing safe environments and developing strong relationships with clients, sponsors and businsses. Public outreach and marketing is important to LEPFA to gain awareness for its venues, events, and supporting businesses.

While many people recognize the venues and events managed by LEPFA, most people are not aware of the existance of LEPFA. When Amanda Snook, Marketing Manager, came to LEPFA, there was no social media use at all. Now, LEPFA is utilizing Twitter, Facebook, and Flickr to reach out to the community.

My goal is to get people not only KNOWING about the things that LEPFA does and the places we manage, but to get them talking to their friends about Thirsty Thursday at Olds Park. Maybe they will share with their coworkers about the great conference they went to at the Lansing Center. For me, it’s a new way to meet people, to get feedback about our properties and events and to encourage name building of the LEPFA brand. – Amanda Snook, Marketing Manager, LEPFA

Amanda is also trying to give the authority a face. To show people that LEPFA is run by people, individuals who care, not a bureaucracy. That caring face comes through on LEPFA’s twitter account, run by Amanda. She has conversations, promotes other businesses, helps people, and generally has a friendly, optimistic personality. She wants people to see LEPFA events as a family-friendy with a large economic impact on the region.

Connections and conversations are also important in LEPFA’s social media use. LEPFA uses a Facebook group to connect with people in the region. While LEPFA post news and information about their events and venues, group members can also post links and have discussions with the Authority and each other.

Social media, for us, allows interactivity between what LEPFA does and what people want. It’s an instantaneous way for me to know what we are doing right, what we are doing wrong, who is hearing our message and which people are the champions of our town. – Amanda Snook, Marketing Manager, LEPFA

Amanda has recently started using Flickr to post and share photos of the area and hopes to eventually use YouTube to post tours of facilities and event coverage. By using social media, Amanda has raised awareness of LEPFA and the venues and events they manage, as well as given people a individual that they can connect and interact with to make LEPFA’s services better for all involved.

Is your Michigan business using social media effectively? Send us an email and tell us about it.

Technorati tags: social media, strategy, social media strategy, business, marketing strategy, marketing

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