Posts Tagged ‘Strategy’

2010 marked an important milestone in the young social media industry. Mainly because businesses began to leverage social media to be closer to their customers, have a better and almost real time understanding of their markets and reduce marketing expenditure while growing brand reputation and market share.

Businesses who are not leveraging social business technology to monitor, research, connect and collaborate socially with their clients will have a competitive disadvantage over those companies who do.

* 60-80% of purchase decisions are based on recommendations
* Time in the social web exceeded time spend on TV
* 16 Million search results on “has anybody experience with…” indicates that product and brand exploration is no longer influenced by traditional advertising

Social business tools will become strategic in 2011.

20 strategic social business tools for 2011:

Social Media Monitoring

Tools to monitor the market and gain deeper insights in what people talk about, what needs they have and what they are looking for. It helps identify influencer, major contributors and active voices for specific industries, products, markets or behaviors.

Tools include companies like Alterian/Techrigy*, Radian6, Sysomos* or Twitalyzer

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Strategy killers

The six silent killers of strategy:

• Top-down or laissez-faire senior management style;
• Unclear strategy and conflicting priorities;
• An ineffective senior management team;
• Poor vertical communication;
• Poor coordination across functions, businesses or borders; and
• Inadequate down-the-line leadership and development.