Six Serving Men Blog

Six Serving Men Blog

This Blog provides views and articles associated with Business & Digital Strategy.

Business Twittering?

Stef Elliott - Sunday, September 27, 2009
Social Media continues to challenge Financial Analysts and Business Owners alike. As the use of social media develops and evolves there is much debate to understand the time, effort and money they should invest and the business results they should expect.   

Stephen Baker in his Business Week article - Is Twitter worth $1 Billion highlights the conundrum of placing a financial valuation on the business whilst the commercial model continues to remain unclear.

Meanwhile business owners and managers are trying to establish how to capitalise upon the increasing range of technologies.

However in the rush to "join in" it appears that many businesses are falling into the trap of Ready Fire Aim. 
Working on the basis that "Strategy without action is futile, and action without strategy is fatal", the key question that need addressing are 
  • What do you want to achieve, before determining the tools to implement it.
  • How do you measure, monitor and manage your activity ongoing.  

A precursor to strategic objectives is understanding your market and social media can povide an insight into a subset of your existing & propective customers. But how important is that subset ?   

An interesting tool is the  Forrester's Social Technographics® that classifies consumers into six overlapping levels of participation in Social Media - Creators, Critics, Collectors, Joiners, Spectators and Inactives - Further info click here
 
It provides a simple high level snapshot that won't povide all the answers, but will help identify some of the questions to address 



Let us know what you think or to contact us to discuss how your business should / could benefit from Social

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