As the ubiquitous world of Social Media rapidly expands and changes, so too do the challenges and opportunities that accompany it. Whilst Social Media is perpetually evolving, many business leaders can't foresee how these changes will impact their operating model. This transformation inspires us to peel away the surface of established theory in this social sphere and explore the opportunities and challenges that lie beneath.
Currently, most of the established theory around social media is in customer and channel management. There is relatively mature understanding of how to market to individuals rather than groups, how to monitor brands on Facebook and Twitter, and how to use influencers on those platforms to steer favourable perception. This type of activity is what Capgemini Consulting terms “The You Experience”. This includes managing the perception of investors and creditors - something that corporate PR departments do diligently. It also includes brand management through event driven marketing. This means that when an event occurs that has a strong customer impact, focus or draw, there is an opportunity to act on it. An example of this might be to market ‘coach services’ to train season-ticket holders in event of rail disruption. However, there are so many more opportunities to use social media management that demand exploration.
Firstly, there is a question around managing the relationship between various identities. Dichotomous identities of public and private, corporate and personal are merging and interchanging. On Twitter, many people tend to switch between posting about work and posting about social situations. Normally, no harm comes of this; however, in this dialogue, the questioned must be asked, ‘is the individual representing themselves or their company?’ Therefore, there is an increasing need for organisations to provide training guidelines on what is and isn't acceptable in terms of online social interaction. Interestingly, some experts are forecasting that by 2014, communication via social media will be preferred over e-mail. Thus, there is a real need to understand, establish and communicate the boundaries of communication through social media when it relates to corporate reputation.
Brand management is another key area of opportunity. It is imperative for organisations to manage brand image and brand value in order to retain and grow consumers. However, this can also be a potential tool for maintaining and recruiting human resources. In the same way that organisations must manage the way in which consumers view the company brand, they must also manage the way in which employees see the recruitment process in order to recruit and retain the best possible workforce. When applying for a job it is quite normal now to look up an interviewer and employer on the internet. It is also quite normal to research the opinions of current and former employees. Currently, online searches often show that people are more likely to share negative experiences than positive ones. Therefore, there is a need for employers to better manage recruitment online at all levels. There is a clear opportunity for optimising recruitment through social media, both through advertising and head-hunting for positions at all grades.
Exploring the opportunities and transformational impact of social media also highlights a correlation between digital communication and change management. Messaging, influencing, and creating a compelling narrative for change can be enhanced by the effective deployment of social media. Social media is, after all, proven to be more effective at communicating emotional content than many more traditional channels. In administering corporate change programmes, communicating emotive messages can be extremely difficult, and the deployment of power-point and left-brain argument is frequently insufficient and often inappropriate for guiding people through an emotional journey. In this circumstance, the effective utilisation of social media could prove to be a highly useful tool for communication and driving change.
One of the main challenges that accompanies the expansion of social media arises in the analysis of the effects of social media on IT functions. If the technology that people use at home is better than the technology available to them at work, there is an increasing demand for organisations to allow employees to use the best technology available. In this instance, it is necessary for an organisation to decide which components of the IT estate need to be controlled rigidly and which elements need to be given licence. Given the rapidly changing nature of the landscape, determining the right ecosystem will almost certainly prove to be problematic. This ecosystem will require the correct selection of alliances and partnerships, services and asset, as well as the creation of balance between information availability and privacy.
The nature of social media as an open share point can act as a potential threat to organisations. However, if managed effectively, it can be an incredibly effective vehicle for collaboration and exciting possibilities for working in partnership with customers on product development. Groups of consumers and suppliers can come together unexpectedly and rapidly through social media. Examples of this include occasions where consumers have come together to achieve scale for purchases. Perhaps this will lead to customers sharing their best price openly. It would certainly be interesting to see the response if the FTSE 250 shared the best consultancy rates that they achieved with the big suppliers. Within the public sector, something similar to this is already well underway.
In exploring the impact of social media, the theme of identity becomes paramount. The verification, function and legitimacy of identity are vital for both an organisation and its customers. Both intimate and unhindered, the space of social media is one in which public and private identities collide. All of the various fragments need to be macro and micro managed appropriately so that both individual and company can be coherently and effectively represented.
There are numerous examples where people have had their identity stolen, been the victims of untrue speculation, and embarrassed by incidents that happened a long time ago. The active management of identity – for consumers and businesses - reaches a whole new level in the world of social media. There are a plethora of daring challenges and exciting opportunities accompanying the organic evolution of social media, the question is, how to stay ahead of the game.
As the ubiquitous world of Social Media rapidly expands and changes, so too do the challenges and opportunities that accompany it. Whilst Social Media is perpetually evolving, many business leaders can't foresee how these changes will impact their operating model. This transformation inspires us to peel away the surface of established theory in this social sphere and explore the opportunities and challenges that lie beneath.
Currently, most of the established theory around social media is in customer and channel management. There is relatively mature understanding of how to market to individuals rather than groups, how to monitor brands on Facebook and Twitter, and how to use influencers on those platforms to steer favourable perception. This type of activity is what Capgemini Consulting terms “The You Experience”. This includes managing the perception of investors and creditors - something that corporate PR departments do diligently. It also includes brand management through event driven marketing. This means that when an event occurs that has a strong customer impact, focus or draw, there is an opportunity to act on it. An example of this might be to market ‘coach services’ to train season-ticket holders in event of rail disruption. However, there are so many more opportunities to use social media management that demand exploration.
Firstly, there is a question around managing the relationship between various identities. Dichotomous identities of public and private, corporate and personal are merging and interchanging. On Twitter, many people tend to switch between posting about work and posting about social situations. Normally, no harm comes of this; however, in this dialogue, the questioned must be asked, ‘is the individual representing themselves or their company?’ Therefore, there is an increasing need for organisations to provide training guidelines on what is and isn't acceptable in terms of online social interaction. Interestingly, some experts are forecasting that by 2014, communication via social media will be preferred over e-mail. Thus, there is a real need to understand, establish and communicate the boundaries of communication through social media when it relates to corporate reputation.
Brand management is another key area of opportunity. It is imperative for organisations to manage brand image and brand value in order to retain and grow consumers. However, this can also be a potential tool for maintaining and recruiting human resources. In the same way that organisations must manage the way in which consumers view the company brand, they must also manage the way in which employees see the recruitment process in order to recruit and retain the best possible workforce. When applying for a job it is quite normal now to look up an interviewer and employer on the internet. It is also quite normal to research the opinions of current and former employees. Currently, online searches often show that people are more likely to share negative experiences than positive ones. Therefore, there is a need for employers to better manage recruitment online at all levels. There is a clear opportunity for optimising recruitment through social media, both through advertising and head-hunting for positions at all grades.
Exploring the opportunities and transformational impact of social media also highlights a correlation between digital communication and change management. Messaging, influencing, and creating a compelling narrative for change can be enhanced by the effective deployment of social media. Social media is, after all, proven to be more effective at communicating emotional content than many more traditional channels. In administering corporate change programmes, communicating emotive messages can be extremely difficult, and the deployment of power-point and left-brain argument is frequently insufficient and often inappropriate for guiding people through an emotional journey. In this circumstance, the effective utilisation of social media could prove to be a highly useful tool for communication and driving change.
One of the main challenges that accompanies the expansion of social media arises in the analysis of the effects of social media on IT functions. If the technology that people use at home is better than the technology available to them at work, there is an increasing demand for organisations to allow employees to use the best technology available. In this instance, it is necessary for an organisation to decide which components of the IT estate need to be controlled rigidly and which elements need to be given licence. Given the rapidly changing nature of the landscape, determining the right ecosystem will almost certainly prove to be problematic. This ecosystem will require the correct selection of alliances and partnerships, services and asset, as well as the creation of balance between information availability and privacy.
The nature of social media as an open share point can act as a potential threat to organisations. However, if managed effectively, it can be an incredibly effective vehicle for collaboration and exciting possibilities for working in partnership with customers on product development. Groups of consumers and suppliers can come together unexpectedly and rapidly through social media. Examples of this include occasions where consumers have come together to achieve scale for purchases. Perhaps this will lead to customers sharing their best price openly. It would certainly be interesting to see the response if the FTSE 250 shared the best consultancy rates that they achieved with the big suppliers. Within the public sector, something similar to this is already well underway.
In exploring the impact of social media, the theme of identity becomes paramount. The verification, function and legitimacy of identity are vital for both an organisation and its customers. Both intimate and unhindered, the space of social media is one in which public and private identities collide. All of the various fragments need to be macro and micro managed appropriately so that both individual and company can be coherently and effectively represented.
There are numerous examples where people have had their identity stolen, been the victims of untrue speculation, and embarrassed by incidents that happened a long time ago. The active management of identity – for consumers and businesses - reaches a whole new level in the world of social media. There are a plethora of daring challenges and exciting opportunities accompanying the organic evolution of social media, the question is, how to stay ahead of the game.
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