How Social Media Can Destroy Your Business Model

How social media can destroy your business model
Anjuan Simmons and Kami Watson Huyse

Social Media Has Turned Celebrities into Geeks

And Turned Geeks into Celebrities

SXSW = South by Social-Media West
Socialnomics: How Social Media Transforms the Way we Live and do Business
-Eric Qualman
Using Social Media to Score...a Job (Obviously)
-Sarah White
Can Social Media Save Business So Business Can Save the Planet?
- David Armistead

The Dark Side of Social Media

5 Social media formulas for business disaster

Customer Service

Crisis

Corporate Speak

Competition

Confidentiality

Confidentiality
Is that your CIO on Chatroulette?

Stranger Danger?

Protect your business from social media destruction of value

A Holistic Strategy

Governance
Who should be involved in determining your organization’s approach to social media?
Requires both low-level insight and top management leverage
Must be based on real-world data vs. fear

Policy
Governance sets policy
What makes a good social media policy?
New technologies have always required new policies (telephone, email, internet).
Guardrails and expectations.
Must include and intake as well as output of communicaton strategy.

Risk
What does your company do when either a policy is not followed or an external event occurs?
Risk mitigation strategies have to include action plans.
Must also include enlightened management and/or legal team (speed is critical)

Monitor
Use tools to help monitor you business’s social media profile
Google Alerts
Twitter Searches
Paid tools for volume
Have a strategy for engagement (flow chart tools)

Customer Service Brainstorm
Bake social media into how you design your services
You must know the social media profiles of all your customers.
When possible, every delivery of service should include what social networks your customers are on and the degree of their influence. This is free customer insight provided voluntarily by your customers.
Airlines should know the Twitter accounts, number of followers, and last few tweets of everyone aboard their aircraft.
Pay particular attention to high profile customers. These are your VIP’s
Monitor what customers are saying right before, during, and right after they use your service.

Employee Management
What are your employees doing on social media sites?
Include activity in their evaluations
Tie to incentives and rewards
Include social media training
Think about a stepped approach, with each level having more responsibility and training

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How Social Media Can Destroy Your Business Model

by Kami Huyse on Mar 14, 2010

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