Companies failing with social networks
Posted on July 29th, 2008 by sherrilynne
Suppose you invested a million dollars in staging a huge corporate event and only 100 people showed up?
You’d be disappointed no doubt, and you’d be asking the organisers for a good explanation!
But this is exactly what’s happening to many companies who are making a huge investment in online social networks, according to a study by Deloitte. The study found that companies are beginning to see some success in using social media tools and online communities to engage with customers and employees to discuss brands, generate ideas and develop and test products.
But, interestingly, the survey showed that while these online initiatives are having a positive impact, companies are not yet harnessing the true potential of social media. Click here to read the rest of this Tech Talk column.
Filed under: Tech Talk
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For major corporations, the business of breathing life into social network-based marketing may be an area where outsourcing REALLY IS a good idea.
I’ve seen some data elsewhere on the web (sorry, I didn’t write it down) indicating that corporate social networking sites that are actively managed by outside vendors specializing in that niche build their “critical mass” of participation faster than the ones that don’t.
REG CROWDER
Google Knol – International Investing:
http://knol.google.com/k/reg-crowder/international-investing/6dyptd3yjxyq/2
Good info Reg. I’m not surprised though. It takes focus to build a community online.
Without doubt many business’s on the Isle of Man seem to be focussing too heavily on older more traditional methods of advertising and marketing. I bet if you did a survey of senior manages half wouldn’t even know what going social meant or was! The thing is from my experience you don’t have to spend mega bucks on social networking, you just have to have good two way open conversations with the issues that people want to talk about, not what you want to talk about!
Couldn’t have said it better myself Nick. But I’m doing my best to try to change attitudes.
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