Social media is a young industry that is growing fast. Most brands are still working on how to further integrate it into their marketing, sales and branding strategy to reap its benefits. Matt Rhodes, strategy director of social business agency FreshNetworks, believes that most companies have a way to go before they tap into the true potential of social media. ‘Too many companies put social media in a box, using it only for communications and marketing, but really you need to spread social media all over your brand’s offer.’
Top five take-outs
1. Make social media ubiquitous. Social media has been used for one-way conversations until now. Its true potential is much richer.
2. Social media is consumer-led. Play to this strength and cater for the behaviour that your customers exhibit.
3. Double your data. Taking social data, and overlapping it with data from loyalty cards and other market research, creates a potent picture of your marketplace.
4. Integrate the online and offline experience. Increasingly, the online world affects behaviour in the offline world.
5. Use the Personal Information Economy. People’s data is there for the taking. Your brand can use it to serve them better.