Sometimes you have to wonder why business leaders don’t see the obvious. Then again when they do see the obvious they still don’t think things through nor do they want to suggest things need to change.
Helen Leggatt writes: Business are going to have to adopt social media campaigns to interact and communicate with customers, according to research firm Gartner, which estimates that more than 60% of online Fortune 1000 companies will have connected with or developed an online community by 2010.
However, Gartner also predicts that over half of companies that develop a social media campaign will fail, potentially having a negative effect on their brand.
“(Businesses) will rush to the community and try to connect, but essentially they won’t have a mutual purpose, and they’ll fail,” said Adam Sarner, principal research analyst at Gartner, in an interview with CNET.
Why? Because many businesses will dive in due to the buzz surrounding a recently successful campaign or because it’s trendy to do so with little thought for the ongoing management and goals necessary for such a strategy.
Social media should be approached as an ongoing marketing activity that doesn’t start or stop with a product launch or a new logo. What many marketers find discerning is that success can rarely be measured in terms of revenues and viewing a social media campaign’s success using traditional marketing/ROI metrics would see many deemed failures.
The emphasis in social media campaign success should be put on the value of the relationships formed and the feedback and data gained from consumers.
What Is The Root Cause?
Leaders approaching social media as a silo initiative seems to be the mindset of many leaders. Go figure, obviously they’ve never heard of sub-optimization and its related implications. Ask KFC if they properly prepared all departments, all processes and all their people for the rush on them generated from Oprah’s offer. The KFC incident is an example of “sub-optimization” which was the result of “silo mentality”.
Social media is not a silo initiative for any business. Rather it is a systemic change to everything a business does and with everyone they do it with. A systemic change in which they create currency from conversations. The root cause of any result is a conversation, one to one to millions.
Is your business prepared? If not get ready, if you are make sure your not sub-optimizing conversational currency or it will cost you. Get it?
What say you?