Social Media is overhyped and overvalued.
This is increasingly the view of many business executives tired of consultants and champions of social espousing its values without concrete evidence to back it up. Heads of industry often recognise the potential value of online communities but at the same time are unconvinced that these can be transformed into new or retained business. But there are a group of companies, a much smaller group than you would be led to suggest, who are starting to get measurable results from the world of social.
I recently spoke to three such businesses and it is well worth taking a moment to assess what they are doing to push their brand forward in the social space.
Just-Eat The biggest lesson from this rapidly growing takeaway business is about not to take yourselves too seriously in the social space. Over the Christmas period they ran a YouTube version of charades, featuring members of their senior staff. It is a great example of personalisation and a really effective way of boosting customer interaction.
Phones4u One of the big lessons from Phones4u was how Social Media doesn't need to be the preserve of the marketing team. In fact, because of the emphasis on returns on impressions and rates of engagement it should be much more closely tied to the eCommerce team. By doing this Social Media moves from being an undervalued marketing tool to a key, independent part of the business which will garner a great deal more support from the board.
PepsiCo For PepsiCo social strategy hinges upon a wider cross-channel integration. Mobile and social are still treated as siloed sections of many businesses' overall strategy, whereas to gain most value the customer should be encouraged to interact across all channels. In return the customer should receive a personalised experience whether access is online or on mobile. Easier said than done you may say. Nevertheless, cross-channel integration is certainly something that all businesses need to be striving for in the 21st Century.
To learn more about how Phones4u makes social media a fundamental part of business click here.
To discover how Facebook is driving business watch this video from last year's Loyalty World.