How Organizations Change Social Media Use
How companies use social media (Sm) is changing as businesses discover its value for customer engagement -- providing lead generation, immediate customer contact and consumer interaction.
This is according to a recent research by Josh Gordon for socialmediatoday, an online social media community.
Trends affecting these Sm changes: companies realizing that many of their customers are on Sm, that Sm can help break the ice as customers are online and dodge traditional lead generation and sales strategies and the recession is causing every company to rethink its customer engagement strategy.
Here are some of the most interesting research results:
1. Lead generation is the top business function for which organizations most want to use Sm.
2. More organizations encourage the use of Sm than discourage it.
3. LinkedIn, Facebook, Twitter and blogging lead Sm and activities for businesses.
4. As organizations look to the future, the Sm form they are "most considering" using are blogs, affirming their power in reaching a mass audience with a personal POV and invite comments.
Gordon also refers to a Bain & Co survey that found that more than a fifth of companies in the bottom quartile in their industries jumped to the top quartile during the last recession.
Meanwhile, more than a fifth of all "leadership companies" -- those in the top quartile of financial performance in their industry -- fell to the bottom quartile.
The research also refers to an electrical company that grew its business by 500% during the industry downturn in the late 1980s and took market leadership from a company previously twice its size.
So, now can be the time to try new lead generation and business building tools in tough times.