I just read Jay Deragon’s post at The Relationship Economy blog titled “What Do CEO’s Think of Social Media”. He has pulled together details from MarketWatch and BusinessWeek and made the assessment that those companies and CEO’s who ignore the impact of social media and it’s impact on marketing do so at their peril.
As a co-founder at TheSocialMediaBible.com, this is a question that I needed to approach as part of my business plan and the challenge I see myself dealing with is how best to communicate that to executives that are one of the target audiences for the site.
I can trust the intellect of the executive suite, but what I also endorse is the perspective that these men and women are more concerned with is the overall profitability of their respective organizations versus what tool or tactic they use. The decision to implement a social media strategy however is the executive suites purview if not their responsibility; it’s becoming more a question of not if but more about when.
What’s the appropriate strategy though? What kinds of strategies are available to a company who first accepts that social media IS going to be important to their company?
Let’s start by looking at the aspects of the company that will most affected by social media; marketing, sales, customer service, customer support come up first.
What do all these have in common with one another and social media? They are public facing first and second is that they are the functions that will be impact by a lack of a coherent social media strategy.
What will the social media push do for a company though? It has the potential to create a bi-directional conversation with the people they most want to connect with – customers with the ability and resources to invest with your company.
It is at the executive suite that the decision get made if this is important to the company, it is in the executive suite that the allocation of the two limiting factors in any business equations gets made – the allocation of time and money.
The answers to the questions posed here are as varied as the organizations involved so I’m not going to suggested a panacea answer, but if you do want to discuss it, send me an email or create the conversation here.