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The proliferation of the digital landscape continues to expand at a staggering rate, and hand-in-hand with this expansion is the inevitable jargon-y concepts, sayings and acronyms.
These range from the slightly overused “content is king” to the more insightful business strategies such as “social business”.
Social business, otherwise known as social media across the enterprise, is becoming increasingly important to business strategies.
But what does it mean?
Do not fear, for the trusted team at Brandwatch are here to explain all.
“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.”
These wise words spoken by Henry Ford back in the day still ring true, and in today’s business environment they are surprisingly truer than they have ever been.
But this time around, it is the hundreds of millions of customers that businesses need to listen to.
Social media provides a platform for people to discuss, communicate and review brands and products. A social business is one that embraces the conversation taking place throughout all company departments.
However, a recent study by Brian Solis and Charlene Li, discovered that only 34% of the companies they surveyed felt their social strategy was connected to business outcomes.
The Social Studies Group is a social media research firm, specialising in using social media conversations to help companies better understand their customers, competitors and markets.
They are also a company that is pioneering with their social business strategy.
They integrate social listening into all aspects of their enterprise, interpreting the data to draw rich insights for a number of their clients’ departments to inform decisions.
Through social media monitoring, they obtain online consumer views of products when offline data is unavailable. This can enable PR teams to inform strategies that best engage online communities. Similarly, their marketing teams can identify emerging trends and involve themselves in conversations with potential customers.
Using the data collected from social media monitoring, the product development and brand reputation teams gather an understanding of how new products or features are being received. This includes likes and dislikes of certain product models and features.
The process of gathering insights from analytics to adapt strategies across all departments makes ‘social’ everyone’s responsibility, not just the ‘Social Media Manager’. It also ensures that the messages distributed align with the consumer perception of a brand.
Command centres are a great way of displaying all this data in a beautifully visual way, encouraging all employees across the business to see and understand the conversation about the brand.
To see more examples of how companies are incorporating social media across the enterprise take a look at our case studies.