Has your company forgotten why it’s called social media?

Now that nearly every company recognizes the value of social media, I think it’s time we take a step back and remember why we’re there in the first place.

Pretty much every brand I work with has added a resource to manage their social media channels. All the major brands have embraced social media with teams, control rooms, even command centers.

But, when I look through various companies’ Facebook, LinkedIn and Twitter pages, from the big to the small, I see the same thing.

The good ones post a lot. But are they interacting, are they social? Save for a few, not really.

They get 1000 people commenting on a post. Yet, on 80-90% of these posts, only a select few brands respond to any of the comments.

I know the big brands (and hopefully the smaller) are monitoring the conversation, but the meaning of being
social is to interact.Otherwise, you’re just the guy in the corner watching everyone else dance at a party. Better yet, you’re a DJ not taking requests.

Companies watch but are afraid to get their feet wet.

Why?

1. The smaller companies have hired a young person to manage their SM. That person has no authority or product know-how to engage in the conversation. And even if the SM manager wanted to respond, they probably have to get their proposed-response approved by three people first before they can post it – doesn’t sound very social.
2. The company is scared to open up a can of worms. There are a lot of crazies out there just waiting to interpret your SM response the wrong way.
3. They have forgotten that it is called social media! They think that the channel is just another highway to place their outdoor advertisements on.

I believe the reasons companies are not actively engaging their followers are a combination of the above. But it is number 3 that I am worried about.

Companies are busy posting and posting. They know that the more they post, the more likes and follows will come. And the more likely their social media channel will be judged a success.

They are turning their SM channels into platforms that they can brag about their brand on every day - the outdoor ad on the highway. Sure they  also post a few tips, contests and quirky posts and images… but they’re not engaging with their customers - it's still outdoor advertising. Only now we get to read the comments of the people driving by.

On a personal note 

Take it down to the personal level. When you post a favorite movie or whatever on Facebook and all your friends like or comment. Do you ever respond to their comments? Most likely you just slap it up there and forgot about it.

Companies do that too.

Brands need to remember why they are there. It’s called social media, as in - social: inclined to seek out or enjoy the company of others; sociable; Spent in or marked by friendly relations or companionship; Intended for convivial activities.

Get on up!

I say give your social media person some power and let them engage (besides posting). If they’re not qualified to speak for your brand, get someone who is!

Social media is more than just a channel to advertise and present a holistic view of your brand.  It’s an opportunity to get off your butt, start dancing and make some new friends.

Please feel free to comment. :)

About Andrew Singer

I provide cost effective communications and inbound marketing services to a wide variety of Danish companies that do business globally. From hi-tech firms like Siemens and TrackMan to more mainstream organizations like Reputation Institute, Carlsberg and the Confederation of Danish Industry, I deliver strategic creative development and English copywriting services.

Check out examples of my work on my website www.andrewsinger.dk or online portfolio.

It ain’t the meat, it’s the motion

While watching “Mad Men” last night, I started thinking about the good old days of traveling salesmen.

Have we come full circle with social media and the fact that who you are as a company means more to people than what you sell?

Think about the salesman going door to door. He initially gets inside the house because of the vacuum cleaner he’s selling. But ultimately, why he makes the sale is his personality. How he interacts with the housewife (in those days) is what closed the deal for him. Maybe he shares a trick for making coffee or an ironing tip, whatever, he shares content with her to create a bond and that builds a relationship.

The vacuum cleaner got him in the door but his personality is what makes the sale.

Likewise in social media, the product might get us to the company’s Facebook site, but the personality exhibited on the site, is why we choose to continually support the company.

In other words, consumer focus has shifted from your product, to who you are as a company. Your company has become the traveling salesman and your social media presence now needs the face 2 face selling skills from the good old days to close the deal and gain a regular customer.

This by the way is not just a late night/can’t sleep hypothesis.

According to a client of mine, Reputation Institute, 56% of consumers’ purchase intent is driven by their perceptions of your company. In other words, businesses nowadays need to focus more on building, telling and most importantly, living their corporate story. Consider it your company’s new sales schtick.

Would you buy a used car from this man?

Here are some facts: 64% of respondents in #Reputation Institute studies say that they would buy products from a company with a great reputation versus only 16% from one with a poor reputation. Likewise, 59% would recommend a product from a well-reputed company versus only 13% from a company with a poor reputation.

I bet if you polled housewives back in the 50-60’s, the percentages would be similar when evaluating traveling salesman’s success rate. Guys with sincere charm sell more.

Your corporate reputation matters. The way you run your company matters. Customers want to know who is behind the product that they are buying. Prospective employees want to work for you because of the way you run your company.

According to RI studies, over a six year period, companies with good reputations outperformed the market average in terms of share price by 40%. These same companies also boasted superior performance in terms of financial metrics such as Return on Equity, Return on Assets, Price/Earnings ratio, Market/Book ratio and EBITDA.

RI has coined the phrase - we are living in a reputation economy. According to the numbers, I would say that this is no catchphrase but a reality. Increasingly companies need to do more than just sell their products and services. They need to sell themselves as companies. In short, be trusted and liked as an organization and you will sell more products, become a more attractive workplace and most likely, a preferred investment.

Companies that listen to their stakeholders and adapt in order to be relevant - not just in terms of their communications but in how they act as well - will be the future winners.

I guess you can say that that is reputation management in a nutshell: the understanding of your stakeholders’ expectations and the integration of this awareness into the way you do business.

Obviously your product still, and will always, matter. If it doesn’t work you are in trouble. But your company’s good reputation will add value to your business and your bottom line.

Think Microsoft: this year’s #1 company for CSR according to RI research. Microsoft reported revenue of $73.7 billion in 2012, an increase of $3.76 billion from the previous year.

There will always be examples of companies with good reputations that stay successful despite product callbacks and governance issues. That’s because, who you are matters more than what you sell.

Ask yourself: How much do you spend on creating and promoting your products and services rather than understanding and addressing the expectations of your stakeholders?

Going back to the traveling salesman analogy, substitute “company” for “man” in this quote from Death of a Salesman,”The man who creates personal interest, is the man who gets ahead. Be liked and you will never want.”

Willy Loman was way ahead of his time.