Archive for August, 2009

Cowardly Corporations Shortchange Shareholders

There are many corporations who have yet to embrace social media as either a marketing, listening or crisis management tool. The most common excuse mentioned is probably lack of control. A recent study by Anderson Analytics shows how that attitude is short sighted.

Anderson’s July, 2009 study of US social media users found 46% of social media users made favorable comments about a company or brand. Contrast that with just 23% who used social media to make negative comments about a company.

This study provides a dichotomy to the oft-referenced quote that when people have a good business interaction, they will tell about 3 people; if something bad happens, they’ll tell 12 people. This quote has been around for years and seems to be taken as the gospel, though statistics seem difficult to come by.

The point is – even well before the advent of social media, let alone the internet – people talked about companies, either in a positive or negative manner. The tools at their disposal are far more sophisticated now than 5, 10, 20 years ago and more.

Companies which sit on their thumbs trying to decide is social media is worth getting involved with do a grave disservice to their employees, customers and shareholders. Their lack of involvement paints them as out of touch, a difficult reputation to overcome.

Some maligned companies are at least making a stab at it. General Motors, arguably the biggest corporation to fall from public grace, has its CEO writing a blog. If GM – stodgy, uncreative and still bloated – can begin, what’s holding back other companies? What does that lack of involvement say about them?

Some big corporations absolutely get social media. Dell is probably the epitome of this. Not only are they involved, they use Twitter as a sales tool and it’s generated millions in sales. It’s so inexpensive to get involved.

Do you know a company not involved in social media? Is their timidity the exception or the rule? Are you sure you want to do business and be involved with companies like that? I sure don’t.

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Social Media Junkie? Take The Quiz and Find Out!

Social media is no longer new or innovative. Facebook has over 200 million users and Twitter is growing exponentially. Sure, it’s fun, but how much is too much? Answer the 10 questions below to find out!

1. True or False? I spend more time with my online friends than my real friends.

2. Yes or No? Do you have more than 10 times as many social media friends as real friends?

3. True or False? Social media is my main method of communicating with my friends.

4. True or False? I’m almost ready to call 911 when my favorite social media sites go down.

5. Yes or No? I’d rather give someone my social media name than my cell phone number.

6. True or False? I lie about the time I devote to social media.

7. Yes or No? Do you feel despondent when someone rejects or ignores your friend request?

8. True or False? I check my social media networks at least 5 times per day.

9. True or False? When I meet people, I ask what social networks they use.

10. True or False? You have bookmarked more social media sites than all others combined.

How did you fare?

7-10 True or Yes: You need 12 step intervention NOW. Step away from the computer NOW. Cold turkey is ridiculously difficult, but you have no other choice.

4-6 True or Yes: Keep your tendencies in check. It might not be too late to save you. Or, just head over to the couch for some TV, your true love.

0-3: Seriously, are there people out there who score this low?!? They must be busy working, making money, enjoying friends and family, exercising and who knows what else? Or maybe they have dial-up…

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