5 Reasons Why Social Strategy Results in ROI
I have been immersed in social media policy design for the last two weeks. The key seems to be more in finding clarity in both the definition and implications of social rather than the policy itself. After all strategically, we are not simply referring to playing with the latest technology and connecting for the social feel-good factor. Social is not just about communicating about the brand and products, but it is about the people that are part of the idea, the process, the product, the consumption and the profit of it. Before we can effectively implement policies we need to explain the “why.” The arguments for it are no different than the arguments for better business practices (but here are just a few):
EFFICIENT: improves and increases knowledge sharing, decrease development cycles, decrease unnecessary meetings, connects relevant information to where it is needed, identifies advocates inside and outside of the organization and learns from them.
SUSTAINABLE: Relationship development based on shared interest creates mutual commitment (higher employee / customer / partner retention, greater willingness to provide feedback, trust)
ACCESSIBLE: Information access based on Internet connection (global reach with minimum barriers to entry) increasingly from mobile
QUALITY: Improved quality capability due to direct customer and partner feedback. Opportunity to develop new products/services based on changing customers needs more efficiently.
RESPONSIBLE: Greater demands on transparency provide opportunities to highlight CSR, Social and Sustainability efforts and values and to engage stakeholders.
Previously published on former blog Social Optimisation.