Jeremiah Owyang is presenting some data about social business this year and next. Highlights:
What happened in 2010 in social business?
Most corporate social strategies are only two years old – 2010 was the year of formation. The decision maker tends to be in marketing or corporate comms. That’s where the money is now – it will move into support and product teams over time.
- Decentralised – everyone can do it – looks authentic, but is disorganised
- Centralised: Consistency and control, doesn’t look authentic.
- Hub and Spoke: small central group works with each division –
- Multiple Hub and Spoke
- Holistic or “honeycomb”: everyone does it in a consistent way
What’s gonna happen in 2011?
Year of integration. The struggle is to measure social media. Most cases, they’re using engagement data (which is not helpful). Most people looking to embed social in their sites. Brand monitoring is most popular area, but all areas of social are seeing big investment in social.
In dollar value? Jobs. $278,000 People are looking for social media staff.
As companies get more mature in their social media strategy, they move from tarditional agencies to the boutique social media agencies.
Six recommendations for corporations:
- Hire correctly – don’t hire “social media gurus/ninjas” – hire business process managers.
- Integrate social media – be pragmatic. Don’t just put a “follow me on…” button on your site. Integrate feature into your site.
- Use advertising that leverages social graph: use advertising that triggers word of mouth
- Develop an unpaid army of advocates: Microsoft’s MVP’s aren’t paid, but they get access and trips. That’s scalable. One on one dialogue doesn’t scale.
- Invest in scalable systems like SCRM and SMMS– help you manage hundreds of accounts across the globe.
- Learn to measure right. Right metrics for the right people.
The full presentation is on his blog already.
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