The difference between knowing value and using value is intent. Intent is to have in mind as a purpose or goal, to design for a specified use or future use. Knowing and using value means you must understand its purpose.
When it comes to understanding the value of using social media for a purpose most of the current usage reveals a lack of understanding and limited purpose.
The word purpose means something set up as an objective or end to be attained. Money is an end result obtained from the creation and distribution of value that satisfies a markets need. Chasing money without understanding how to create and distribute value that your market wants and needs indicates a lack of purpose and understanding.
Our Purpose is Revealed through Communications
The best organizations focus on aligning the organizations strategic intent with the current and future needs of a market. To do anything less means you will have no future and instead live in the chaos of the moment which is short-lived.
An organizations strategic intent is reflected by how, what, when, where, why and who they communicate with and to. Social media reveals these intents based on whether the creation and distribution of value satisfies or exceeds the markets expectations. Most organizations do not understand the strategic implications of how social media reveals their intent.
Umair Haque says it best: Social media strategy fits inside a marketing (business, corporate) strategy, and is shaped by it. Social strategy fits outside business and corporate strategies, and shapes them. Social strategies are about rewriting the logic of the industrial era entirely, shifting gears in how we think, envisioning a broader, more powerful, more challenging use of social tools. They are about developing the capacity to understand an organization’s role in society, and how to play a more constructive one, wielding sociality as a source of advantage — by acting radically more meaningfully than rivals.
Social strategies are about reinventing tomorrow. Their goal is nothing less than changing the DNA of an organization, ecosystem, or industry. Want to get radical? Stop applying 20th century principles (“product,” “buzz,” “loyalty”) to 21st century media. The fundamental change of scale and pace that social tools introduce into human affairs — their great tectonic shift — is the promise of more meaningful work, stuff, and organization. Start with “the meaning is the message” instead.
What Does Social Media Mean to You?
SmartBrief on Leadership survey provides insights on how business leaders view the meaning of social media:
How familiar are business leaders with social media?
- Back to school: 75% of respondents say they were either knowledgeable or actively trying to learn about social media.
Are their companies currently using social media/social tools?
- Getting there: 51% of respondents say their companies are actively using and exploring social media in a number of business areas. Another 30% are in pilot test/consideration mode. Only 27% say they are not using social media now and won’t be in the future.
Is social media just a marketing fad?
- Social media is here to stay: While many leaders say they see social media as somewhat “over-hyped,” 63% of respondents say they disagree with the notion that it is a marketing fad.
Is it a waste of time?
- Good use of company resources: 55% of business leaders say social media is not a waste of time
What are the implications of ignoring social media?
- Falling behind the competition: 40% of respondents say they fear they are falling behind their competitors in using social media. Also, 25% admitted that they did not know what their competitors were doing in the space.
- Missing the conversation, both good and bad: 83% of respondents agree that social media gives them a window into what their customers are saying about them, and 80% say that social media has the power to magnify negative news about a company. This is obviously a key point of concern.
What kills the value of social media is a lack of understanding. Now compare Umair Hague’s perspective against the survey results from the Smart Briefs on leadership. Which reflects an understanding of purpose? To understand something thoroughly you must listen to what is being revealed. To not gain an understanding of social media means you are reducing or killing its value.