The 4 Es of Social Media Strategy

Jill Dyché in her Information Management Blog "The 4 Es of Social Media Strategy" contests that companies

are pretty vague about the drivers for the new "Social Media"initiative.

Apart from the usual platitudes of “getting closer to employees, partners, and customers via lower-cost channels” it turns out very few business leaders can answer my question about the desired outcome of social media analytics.
In our experience, there needs to be at least one prevalent driver for social media.

She calls these the “4 Es of Social Media Strategy.”

Social Business Intelligence: The Pipeline Dream

James Kobielus in his Information Management Blog "Social Business Intelligence: The Knowledge Management Connection" contests that Business intelligence (BI) has always had a “pipeline” orientation- known as “simplex” information transfer; in other words, a primary focus on the one-way flow of data, information and insights from “sources” (e.g., your customer relationship management systems, enterprise data warehouses, and subject-area data marts) to “consumers” (e.g., you).

However, many real-world intelligence flows are full-duplex, many-to-many, and person-to-person in orientation. This fundamental truth will continue to drive the spread of “social” architectures in core BI and advanced analytics...

How Analytics can Help the Hospitality Industry

Mark A. Smith in his Information Management Blog titled "Analytics Help Hospitality Industry Thrive" contests that nowadays consumers of hospitality and entertainment, from hotels and travel to events, theme parks and cruises, are very demanding.

Faced with intense price pressures and the influence of consumers on others through social media, the hospitality industry struggles to adjust to shifting demand fast enough to optimize operations to reach the desired financial outcomes.
The best way to understand, demand and tailor services to it is to use analytics to understand the voice of the consumer.
The goal is to provide high-quality service at prices that deliver optimal margins for the organization, but it's a combination not easy to balance.

Being Authentic in the Social Media Frenzy

The increasing use of social media amongst businesses reflects the fact that social media is important. But realizing value from its use requires the right type of use. Here are a few tips for being authentic and maintaining authenticity with business social media use. Make it personal. Identity matters online. Which is why companies shouldn't build a faceless social media presence. At a very minimum, business social media profiles should be associated with a real person who has some level of autonomy and the ability to make his or her personality part of the show. Don't be afraid of opinion. A big part of 'keeping it real' that deserves individual attention is the fear of opinion that often exists amongst businesses. It's my belief, however, that one of the big reasons consumers don't trust companies is that companies often strive so hard to be 'PC' that they lose a sense of culture and personality. Instead of representing something, they end up representing nothing. Frankly, there's nothing worse from a branding perspective. When it comes to social media, companies and their social media managers shouldn't be afraid to express an opinion (or two or three). Obviously, opinions have consequences. So 'speak first, think later' isn't an advisable approach. But 'speak, say nothing' is something that should be avoided at all costs as well, as it negates whatever potential social media has to help your business build relationships with consumers. Focus on interactions, not followers and fans. Many businesses have an unhealthy focus on the number of followers and fans they acquire on sites like Twitter and Facebook. To a certain extent, it makes sense: the number of followers or fans you have is an easy metric for assessing 'success'. But a sizable following doesn't necessarily equate to influence or results. Which is why businesses using social media should focus more on using social media to facilitate quality interactions. This is far more likely to produce meaningful action on the part of a consumer, and will likely have a greater impact on the perceptions of the silent majority (read: the many consumers who watch, but don't participate). Keep the distribution of traditional marketing messages to a minimum. Social media may or may not be a cheap way to distribute your traditional marketing messages, but if that's all you use it for, it defeats the purpose. So many consumers shun traditional marketing for a reason. If your social media presence is merely a platform for promoting press releases, promotions, etc., it will be much harder to attract attention, spark meaningful interactions and create the warm, fuzzy feelings amongst consumers that you're hoping to elicit. In other words, if your Twitter or Facebook account is an extension of your RSS feed, you're missing the point. O2ibm

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