4 Social Media Trends for Business in 2010

by Pam Dyer

4 Social Media Trends for Business in 2010

StumbleUpon, Twitter, FriendFeed, Facebook, Digg, Xing… The list keeps growing as social media becomes intertwined in the daily lives of brands and consumers. We’re in the midst of a fundamental shift in communication. But the social Web is an evolving platform — some tools return terrific results, while others don’t work quite as well as they used to. This presentation was given by Jeremiah Owyang of Altimeter Group at an event hosted by Silicon Valley American Marketing Association. It offers some great insights into the shifting landscape and how companies can leverage these tools for maximum results.

Companies must approach social programs in a coordinated effort

Many companies are enthralled by the opportunity to use social technologies to connect with customers, yet many lack a plan or coordinated effort. And things are going to get more difficult — as consumers and employees rapidly adopt these tools, the level of complexity increases across the organization. While it’s easy to get caught up in the specific new technologies that are constantly emerging, companies should focus on business trends and themes in 2010. In particular, companies must develop a business strategy based on customer understanding, put the baseline resources in place to get ready, deliver a holistic experience to customers — and build advocacy programs and anticipate customer need.

To be successful, companies should focus on four key trends:

  1. Don’t fondle the hammer. Understand customers and focus on objectives, not on developing strategies based on ever-changing tools. Companies really need to understand their customers first — here’s a webinar that will help you with this.
  2. Live the 80% rule. This is a movement: get your company ready. 80% of success is getting the right organizational model, roles, processes, stakeholders, and teams assembled — only 20% should be focused on technology.
  3. Customers don’t care what department you’re in. Customers just want their problem fixed, they don’t care what department you’re in. Yet, now, nearly every department can have a direct relationship with your customers using social tools. As a result, provide customers with a holistic experience Start to investigate how brand monitoring, community tools, and CRM systems are merging.
  4. Real time is *not* fast enough. Companies cannot scale when it comes to social media. Most companies cannot hire enough people to monitor and respond to the conversation. Lean on advocates instead, by building unpaid armies, and anticipate customer needs through advanced listening techniques.

What’s your take? Do these observations mesh with your current thinking about how companies should approach social media initiatives?

via Web Strategy LLC

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  • Sarah

    I think social media plays a big role in getting resources out there in front of internet users but I think an underlying importance that gets overlooked by many developers and users alike is the importance of projecting credibility to internet users. I sometimes am surprised that so many people overlook this vital importance. I found a lot about the subject at internetcredibility.org but I think the basic principle to remember for anyone using social media is to not forget the basics like demonstrating credibility to users for long term success.

    • http://intensedebate.com/people/pamdyer pamdyer

      Hi Sarah,

      Thanks for reading! You make an excellent point about reputation and credibility. Credibility is part of branding, whether for individuals or companies, and it certainly carries a lot of intrinsic value.

  • Sarah

    I think social media plays a big role in getting resources out there in front of internet users but I think an underlying importance that gets overlooked by many developers and users alike is the importance of projecting credibility to internet users. I sometimes am surprised that so many people overlook this vital importance. I found a lot about the subject at internetcredibility.org but I think the basic principle to remember for anyone using social media is to not forget the basics like demonstrating credibility to users for long term success.

    • http://intensedebate.com/people/pamdyer pamdyer

      Hi Sarah,

      Thanks for reading! You make an excellent point about reputation and credibility. Credibility is part of branding, whether for individuals or companies, and it certainly carries a lot of intrinsic value.

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