Monday, January 31, 2011

7 Characteristics Of Companies Effectively Using Social Media

This article from showcases findings from a report from a report by Harvard Business Review called "The New Conversation, Taking Social Media from Talk to Action."

I found the seven characteristics of effective social media use to be very interesting, as many of them are in line with what we do at my company to drive awareness and business using social media.

1. We do have a social media strategy. It has been documented, analyzed and evolved as time passes. It includes specific, tangible, achievable and quantifiable goals, and it also includes specific ways that social media efforts integrate with other online tactics as well as offline marketing methods.

2. We do have a budget - meaning we do spend money on social media marketing - and we also engage in more than four social media channels, including YouTube, SlideShare, Facebook, Twitter, Corporate Blogs and LinkedIn.

3. We certainly track progress via quantifiable metrics obtained through a variety of social media monitoring tools. I feel this is an imperative piece of expecting results with your social media marketing strategy.

Amplify’d from
  • Sixty-three percent of the effective users said they have developed and implemented a social media strategy.

    • They’ve taken an integrated view of social media and have made it another part of their overall marketing strategy, not “shiny object” or fad. They are working toward stated, documented goals that are specific.

  • Effective users were TWICE as likely to have a social media budget as compared to the rest of the respondents.

  • Effective users are far more likely to use more social media channels — four or more.

  • Effective users were much more likely to be fully-leveraging the benefits of social media by using multiple social media channels to:

    • reach customers,

    • learn about customers,

    • research new products,

    • establish user groups among customers,

    • monitor trends, and

    • collect and track customer reviews.

  • Effective users are more likely to be:

    • be doing more multi-media sharing,

    • participating in review sites, discussion forums, and blogs, and

    • know where their customers are talking about them on the Web.

  • The use of metrics and analytic tools also sets the effective users apart as effective users are measuring their efforts as well as the social conversations about them.

  • Finally, this group was also far more likely to integrate their social media monitoring solution with their other marketing solutions. (Again demonstrating an integrated approach to their social media initiative.
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    1. With the help of social media, you can definitely get the traffic that you want to your website. I really believe it's good for your business.

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    2. "We do have a social media strategy." That is fantastic. It's impossible for businesses to stay competitive these days without a strong online presence on social networking websites.

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    3. While that remains to be true, Amarant, some business equate social media strategies with "spam" or "flooding," which caused a lot of frustrations for users and is among the main causes of people opting or unsubscribing to a business page.

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    4. Social media tools can help your business in a lot of ways. Make sure you consider them.

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    5. I couldn't agree with you more. Social Media allows you to engage with an online community and allows you to connect your brand to the appropriate audience.

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