This is a very good summary, where the real value of Social Media lies. Social Business is not about counting retweets and likes. It is about building long term relationships and reinvent
A company’s ability to build a social media engine, I believe, is one of the key areas of competitive advantage in the Digital Age. The problem is that many companies focus on the wrong goals.
A fundamental truth of social media is that there is much a business can’t control. Social media’s greatest strength can also be its greatest challenge: the need for authentic actions and endorsements of people who feel passionate about you, your products and your services.
For social media to be a significant asset in organizations, it must become a predictable indicator of future earnings and potential growth. And for it to be a key element of sustained competitive differentiation, it must be something that can only build over time.
As long as social media is measured by tweets and Likes, it will be nothing more than an interesting diversion in the marketing mix. CMOs will focus their attention on marketing spend that can lead to real revenue.
Social media didn’t invent a new type of social capital, it just accelerated the ability for people to make connections, share passions and figure out what businesses were rock stars, and which ones were lacking.
For any social media effort to add sustained value to a business, it needs to focus on building a community of real people and measure social media activity within the context of those people.
And do you want a social strategy that gives you a direct channel to engage with your customers and build a community? I think the answer is obvious.