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An extract from David Armano’s recent post highlighting his and Jeff Dachis’ presentation at Web2.0 Expo …
The presentation below courtesy of the "embed" code provided in the post
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It’s Time to Clobber Social Media (And Get Down To Business)
We broke down what we think will be the building blocks of a more social business. Adaptations in people, process and technology. We talked about the benefits and value of “open cultures” (think Zappos) and the potential of connecting the ecosystem of an organization so that a new way of collaborating could co-exist with traditional hierarchy. (me .. see "wirearchy")
The audience seemed receptive. More importantly, they seemed hungry.
Does social media really need “clobbering”? Not really—many businesses are reaping the benefits of communicating and engaging with their customers in new ways enabled via social technologies. We applaud this. And we think it’s only the beginning. Have a look at our presentation and let us know what you think. More importantly—ask yourself this: How ready for social business are you?
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Taken from a consumer behavior point of view, I think you need to look at the changes in consumer behavior also. Specifically, how does this change the decision making process? How are reference groups different and how do they influence the social media and consumer behavior? Is there a difference in the types of consumer decisions? Do consumers in a social marketing situation tend to make more nominal decisions than limited or extended? What are the consumer expectations? It seems to me that consumers have begun to demand more control over the marketing and consumption of products, including more customized products, services, product placement, pricing (including forms of payment and payment plans), and product attributes. I think many companies don’t realize the power that social networks give the consumer.