Almost no one had heard of social media a decade ago, but today websites such as Facebook, Twitter, and LinkedIn have more than 1 billion users and account for almost 25 percent of Internet use. Practically overnight, social media seems indispensable to our lives–from friendship and dating to news and business.
What makes social media so different from traditional media? Answering that question is the key to making social media work for any business, argues Mikolaj Piskorski, one of the world’s leading experts on the business of social media. In A Social Strategy, he provides the most convincing answer yet, one backed by original research, data, and case studies from companies such as Nike and American Express.
Drawing on his analysis of proprietary data from social media sites, Piskorski argues that the secret of successful ones is that they allow people to fulfill social needs that either can’t be met offline or can be met only at much greater cost. This insight provides the key to how companies can leverage social platforms to create a sustainable competitive advantage. Companies need to help people interact with each other before they will promote products to their friends or help companies in other ways. Done right, a company’s social media should benefit customers and the firm. Piskorski calls this “a social strategy,” and he describes how companies such as Yelp and Zynga have done it.
Groundbreaking and important, A Social Strategy provides not only a story- and data-driven explanation for the explosion of social media but also an invaluable, concrete road map for any company that wants to tap the marketing potential of this remarkable phenomenon.
Category: Networking (social networking, communication skills)
Gold medal
Once again, Donald Trump has promised bold yet unspecified moves that will add to the uncertainty facing executives. Business leaders must cut through the "policy fog" by focusing on what the re-elected President can actually control, comprehensiv...
The mention of geopolitics leads many to ask how company strategies are being reformulated to capitalize on what's left of globalization. But this overlooks a critical prior question: what's the best way for firms to track and assess geopolitical ...
Here are three strategic lessons from the tramp shipping industry.
Shipping is a unique industry, and tramp shipping is a niche sector within it. Yet, in an age of growing market disruption and uncertainty, it has some key lessons for strategic management in other industries.
Most annual predictions fail to provide actionable insights for executives. Here are two approaches to better discern the implications for your business.
Companies need clear guidance to achieve sustainable business transformation. A practical roadmap identifying drivers for effective change can make success more likely.
Strategic thinking is widely acknowledged as a critical leadership capability, yet many executives struggle to consistently prioritize it.
With fact-checking out and community-driven moderation in, Meta is betting big on free speech – but critics warn the move could open the floodgates for disinformation and online harm.
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications