Impact of social media on business

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Social media has impacted the business world and is fast becoming an important part of the marketing mix in many companies. It has also impacted customer behaviour, creating a new type of customer - the social customer. Companies need a strategic approach to applying social media to boost its potential for sustainabl value. The ZHAW / Lardi Social Media Strategy Framework provides a guide to help companies develop a clear link between social media initiatives and business goals. The approach identifies objectives for social media use across the business value chain and maximises the potential for engagement with target audiences.
Learn more http://lardistrategy.com/
Buy the book http://build-your-social-business.eu/

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Impact of social media on business

  1. 1. Confidential. Do not copy or re-distribute ©LPC Impact of Social Media Lardi Strategy 17 July 2013
  2. 2. Confidential. Do not copy or re-distribute ©LPC The world has changed…
  3. 3. Confidential. Do not copy or re-distribute ©LPC People have changed… Individuals create, control and share content Users and communities are in control of the flow of information Younger generations pioneer the use of personal networks and viral communication
  4. 4. Confidential. Do not copy or re-distribute ©LPC Technology has changed… Cheap hardware and software reach the masses Web and mobile applications actively promote the participation of users Content is quickly shared globally
  5. 5. Confidential. Do not copy or re-distribute ©LPC Consumers have changed… Consumers have become advocates Consumers trust their peer network and community Consumers are less brand loyal
  6. 6. Confidential. Do not copy or re-distribute ©LPC …but has your business changed?
  7. 7. Confidential. Do not copy or re-distribute ©LPC Social Media what is it really? A collaborative and transparent way for individuals, communities and organizations to interact, share information and build mutually beneficial relationships. In other words, people having conversations online (with computers, tablets or mobile devices)… Source: LPC point of view, 2012 …powered by: • Blogs • Micro Blogs • Online Chat • RSS • Social Networks • Message Boards • Podcasts • Video Sharing Sites • Photo Sharing Sites • Virtual Worlds • Wikis (…just to name a few)
  8. 8. Confidential. Do not copy or re-distribute ©LPC Social Media what is it really? Source: LPC point of view, 2012 Focused on external interactions, for example marketing, customer relations, brand and eminence, and talent acquisition – for prospects, clients, partners, analysts, marketers, and job candidates BUSINESS 2.0ENTERPRISE COLLABORATION Focused on internal interactions, for example knowledge sharing, innovation, content creation and reuse, communication, and learning by employees Social Media
  9. 9. Confidential. Do not copy or re-distribute ©LPC Social Media has created a new kind of customer Source: LPC point of view, 2012 Social Customer The new Social Customer Uses online channels & comms tools Trusts in advice made by online friends & strangers Tends to buy more online than offline Wants to provide feedback about product & service Expects better customer experience online & offline Reads & creates product reviews, rankings Seeks to connect with like- minded peers
  10. 10. Confidential. Do not copy or re-distribute ©LPC What is the ZHAW/Lardi Social Media Strategic Framework?
  11. 11. Confidential. Do not copy or re-distribute ©LPC 11 Social Media Strategy Framework Create a clear link to your business strategy
  12. 12. Confidential. Do not copy or re-distribute ©LPC

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