SOCIAL MEDIA BUSINESS ENGINEERING
Using social technology to augment business strategy and achieve real business objectives
- How social media has developed beyond marketing.
- Why social technology plays a significant role in the consumer journey.
- How to develop a social business strategy.
In this chapter Jed Hallam, Communities Director at VCCP where he develops social strategies for clients such as O2, MORE TH>N and Unilever, discusses the life cycle of the social media industry and explains how innovation will help you to improve your business strategy and produce bottom-line impact through social media and digital technology.
As a precursor to what I’m about to say, the models and suggestions I’m putting forward are either existing and established ideas or are concepts that I have worked on with live clients. However, please remember that this industry is still relatively new and that these concepts are iterative models that are developing every day.
Social Media Industry Life Cycle
For me, one of the most interesting things about any technology or business is how it evolves, which has been particularly useful as my job has always been focused on innovation and strategy. About 18 months ago, a friend of mine (Tim Hoang, who you’ll find in this book too) spoke to me about Everett Rogers’ Diffusion of Innovations (1962). At the time we were discussing how we could track the way in which messages moved from one person to another and trying to mastermind ...