You might ask yourself how is social media strategy in any way related to social business strategy? Is it because they both deal with social strategies? Maybe. But the key words here are media and business, which are two different things.
A social media strategy defines the relationships, their value, and sets out a plan to harness them to achieve a particular goal or set of goals. According to a report by Li and Solis, social media strategy lays out the channels, platforms and tactics to support publishing, listening, and engagement.
However, a social business strategy is social technologies, business values, processes, and practices unified to build relationships both within and outside the organization. Such a strategy is effective when there is an equal share of business goals and organizational support to deliver such goals.
Social Business Strategy Elements:
In an altimeter report by Li and Solis, there are six basic elements or phases of development which result in a successful social business. These elements are planning, presence, engagement, formalized, strategic, and converged.
Planning: This stage is all about listening and learning. Understand how customers use social channels and determine customers’ behaviors. What do they want? What are they most likely after?
Presence: Here, we stake our claim. Use common social channels like Facebook and YouTube to develop a projection of traffic in regards to specific interests.
Engagement: In this stage, relationships are deepened through dialogs. Providing support, advice, or recommendations in a way of connecting and relating to customers. An example could be a heating and refrigeration company providing customers with simple tips to prolonging appliances and getting the most of out it.
Formalized: Basically, setting governance for social, while also maintaining professional organization work. Maintain a parallel level of coordination between employees and executives to ensure that whatever is going on online, customer relations, is given the same treatment as to within the organization itself.
Strategic: This element involves scaling or connecting across all business units such as human resources, sales, finance, and supply chain.
Converged: Integrate social into the business strategy, leaving the business fully socialized.
Through these levels is what produces a social business. But how can the maturity of a social business strategy be assessed? Assessing the maturity of a social business is done by using the elements mention above as guidelines. With these elements, a business can be able to identify its current status in regards to social implementation.
Along with all this, is list of success factors of a social business strategy which include:
- Goals – a business strategy is defined by the business’s main goals
- Vision – with a business goal, there are also visions of what the business will be in the coming years. Thus, providing a focus on strategy.
- Support – support within the organization, especially from managers to employees, is essential
- Strategy – planning ahead and having strategic roadmap will assist an organization to achieve its goals.
- Guidelines – clear and direct rules and guidelines are key to ensuring everyone knows what to do and how to do it under any circumstances.
- Staff – look ahead and plan what is best for the staff and encourage skill improvements so the business is prepared for social implementation.
- Invest – careful selection of technology is to be done after considering strategies.
Thank You for reading…Remember to like, share, or comment…