6 smart social media strategies

Last week the pitfalls of social media and this week the opportunities: how can social media add value to any possible organisation?

Opportunity 1: reach a large audience
Social media is easily accessible and an ideal way to quickly reach many people. The most effective way is cross-linking media like Facebook, LinkedIn, Twitter and Pinterest with the corporate website and other regular communication channels. Each tool has its own options and audience; together they form a powerful whole.

Opportunity 2: respond to current trends
News spreads quickly through social media. Twitter in particular is a rich source of information that spreads with great speed. Not only use Twitter to quickly detect trends, but also to anticipate to them in a timely manner.

Illustration: Ivo van Leeuwen.

Opportunity 3: build your relationships
For every organization to have a good relationship with the various stakeholder groups is crucial. This requires more than just transmitting information: you must also listen. Take advantage of all the opportunities that social media offer to interact with your audiences.

Opportunity 4: enlarge your persuasion powers
People are sensitive to what other people do. When many ‘like’ a product or service, its attraction increases. With the proper use of social media this will lead to 'social proof' and therefore enlarge your persuasion powers.

Opportunity 5: collect data
Social media are an inexhaustible source of information. Users continuously leave information behind. This information can easily be collected and analyzed. So take a look at these 'big data', because this brings many opportunities.

Opportunity 6: improve your image with corporate personalities 
A company is more than just its Chief Executive Officer. Employees also exert influence on their environment. Through tactically deploying social media you can use corporate personalities to improve your image. This means communicating from different levels and angles what will benefit the organisation’s overall appearance.

For those who think that social media is nothing more than hype: forget it. Certain forms of social media will undoubtedly lose influence (e.g. ‘Hyves’ in the Netherlands), but only to make room for others. Increasingly social media will penetrate deeper into our lives, both private and business. Companies that understand and embrace this, will crease their competitiveness, whether you like this or not...

6 pitfalls of social media

The role and importance of social media keeps increasing. Social media can be an effective means to increase brand awareness, reach your target audience and increase online visibility. Social media offers many opportunities, but there are also risks. Watch out for these 6 pitfalls.

Pitfall 1: social obligation
Many organizations start with social media because they feel it is 'something' they should be involved in. It is then regarded as a liability instead of a new opportunity, not having a clear purpose and the resulting effect often being disappointing.

Sofiaperesoa, Wikimedia Commons. 

Pitfall 2: underestimation
Social media is often seen as an easy, inexpensive tool for which little time is needed. Social media is indeed easy to use, but must be approached very seriously. Without a clear policy and / or a clear strategy the intended results will not be achieved.

Pitfall 3: short term thinking
It is often difficult to capture the Return On Investment (ROI) of social media: followers, fans, likes and retweets do not deliver direct conversion. However the use of social media can lead to significant positive effects, but this requires a long-term vision. The purpose of social media is to build a relationship with your target audience. This takes time, just like in real life.

Pitfall 4: no guidelines

Mentionablehonor, Wikimedia Commons.

Whether you are communicating through the company website or through Facebook: it always has an affect on the appearance of your organisation. To avoid miscommunication, it is wise to establish guidelines. You can lose your good reputation only once.

Pitfall 5: not listen
Social media is about interaction, to talk and to listen. The latter is sometimes forgotten. People want to be heard and really appreciate it when they can come into contact with a company in an easy way.

Pitfall 6: no added value

Finally, the most common pitfall: using social media as a commercial sales channel. Nobody wants to see nothing but advertising on it. However everybody is looking for valuable content that adds value. So communicate information that is interesting and relevant.

For those who are aware of the risks, social media can achieve excellent results. Curious how? Next week’s post contains six smart social media strategies for 2013.

Why the world needs social entrepreneurs

The world’s population is constantly facing challenges these days: around 20% of the people on this planet live in poverty and have, among other, a need of clean water, food, education and electricity. This has the attention of world leaders and big NGO’s, but sometimes de solution comes from an unlikely source. At times innovative individuals are more effective than governments or big organisations…

New role
People who make the world a better place have existed through time. Although positively engaged and enthusiastic, in general these social entrepreneurs were little effective. They were not taken seriously: what could individuals really achieve? But times have changed and social entrepreneurs have gained power and influence. How is that possible? Social entrepreneurs distinguish themselves in 3 ways:

1) Social entrepreneurs are pre-eminently innovative. They do not think in standard solutions but are creative, for instance when generating funds by ‘crowd funding’ (> 1 billion US dollars in 2013!).

2) Social entrepreneurs see society not as a problem, but as part of the solution. They are not looking for what the community is missing, but which knowledge and skills are there.

3) Social entrepreneurs make ‘social value’ their focal point in contrast to traditional companies where ‘making profit’ is the central theme. It is not about the short term results, but about the structural changes in the long run.  Or, as social entrepreneur Bill Drayton puts it: ‘Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry.’

From underprivileged to promising

Jamie Olivers Restaurant Fifteen at 15 Westland Place, 

London (photo The Hammer, Wikimedia Commons).

A good example of social entrepreneurship is project Fifteen of Jamie Oliver, where underprivileged youths are provided with an opportunity to get training in hospitality. Since its inception in 2002 hundreds of young people have built a new life through ‘the art of good food’.
Another example is Amul a cooperation of farmers that has been active in India since 1946. The goal: help small farmers join forces and get fair prices for their products, independently from major cartels.

New reality

Amul Plant at Anand featuring the High capacity Milk Silos 

(Notnarayan, Wikimedia Commons).

Our dynamic world constantly requires creative ideas and innovative solutions. In this light the rise of social entrepreneurship is logical. It is not ‘the newest fashion’, but the new reality on our way to a sustainable future.

Royal support for sustainable reporting

We live in the era of crisis. Whether it concerns the banking sector, real estate or individual EU countries’ budgets: they are all vulnerable and a call for change is heard. One of the most called for instruments: more and better control. This is not without cause…. 

Transparency
The same thing annoys all investors, shareholders and supervisors: the lack of transparency of businesses. The profit and loss account alone only gives some insights into the operations of organisations. More transparency is required to be able to judge how a company is really doing.

Paul Druckman about integrated reporting: 

Where are we and is it really an important issue for today? 

Value creation
The classic way of reporting is over. The time of integrated reporting has come: a new form of reporting that concerns the value creation activities of organisations. The financial performance remains important of course, but next to that there is also room for non-financial performance: how have the financial results been achieved? And what effects did the business operations have on the quality of life for people and planet? In short: how sustainable is the business conducted?



More than hype
Integrated reporting is more than ‘the newest hype’ and is embraced by more and more multinationals. By example: in 2011 only 40% of the 50 largest Dutch companies were engaged in integrated reporting. In 2012 this percentage increased to 90! Even the British crown prince Charles favours the practice of integrated reporting …


GRI G4
In May 2013 the Global Reporting Initiative (GRI) launches the new G4 guidelines for sustainability reporting. Although these guidelines will focus more on the relevance of the aspects reported (materiality), they also take a head start with regards to the integrated reporting guidelines currently under development. Luckily the EFQM Model is an integrated model and that is why the EFQM community is awaiting the new reporting guidelines with confidence!