Social Business Media

A recent study conducted by IBM got responses from 1,700 CMOs (Chief Marketing Officers) in 64 different countries regarding their use of social media. The results, according to Sharon Gaudin’s article?

  • “82% of chief marketing officers (CMOs) plan to increase their company’s use of social media over the next three to five years”
  • “Only 26% of CMOs surveyed said they are currently tracking blogs, while less than half are tracking third-party reviews (42%) and tracking consumer reviews (48%)”

The reason for the dragging feet seems to be that companies and corporations aren’t ready yet for the highly interactive nature of Web 2.0. If you set up a blog for customers, you have to be prepared for their complaints, criticisms, and suggestions—and you have to answer them. That’s more than a 24/7 job.

But simply having someone (or a whole team of someones) on staff to follow blogs, Twitter accounts, and Facebook pages related to the industry could be very helpful in terms of brand management. For example, what if a trending topic on Twitter one day is all about how people wish their bank would do something? The first bank to offer the service—and to promote it widely as a response to customer wishes—might see a nice increase in clients.

Two businesses singled out as social media savvy are Best Buy and Amazon. What are they doing well?

And why not position yourself on the job market as someone who understands the social media landscape? People expect the younger generations to have a handle on all these technology issues and are often surprised how little Gen Y knows about capitalizing on the global potential of Web 2.0. You’ll have to go beyond the scope of this class to really understand RSS feeds, tracking, and other issues, but with today’s Internet, can’t you find a thousand how-to guides and video tutorials for almost anything you want to learn?


Works Cited

Gaudin, Sharon. “Companies Slow to Take on Social Media, Survey Finds.” Computerworld. Computerworld, Inc., 11 Oct. 2011. Web. 11 Oct. 2011.

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