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Networks and the transformation of influence It will especially look into the implications of go-to-market and product-development strategies based on learnings from authentic exchanges with customers who really want a say, though not necessarily the only say, on how they intend to purchase, recommend or feel about a product.

It is a dilemma because many managers today are uncertain about what social networking really means, how it fits their business strategy, and most importantly, how they can define its practical value to the business.ĭrawing on our own experience and that of several social media practitioners, this article provides guidance on how the C-Suite should view social networking. The above is a real marketing dilemma, and one that many business managers are confronted with these days. But, lacking much hard data on the potential benefits, and concerned that his multi-generational customer base may be unsuitable for social networking, he is now wondering himself whether he is being premature. In a discussion with the authors, the director revealed that his colleagues are resisting “partly because they are steeped in the tactics of what they have always done and partly because they are not convinced of social networking’s value proposition.” He would like to try a low-cost campaign, perhaps using a dedicated web site to target mothers who, he has been told, tend to go on-line more than the average customer. He sees that networking technology is being adopted by the corporate world and moreover, he urgently needs a cheap way to shore up his marketing capability because his budget has been trimmed by company-wide cost cutting. These CEOs will do well to read this article, where they will learn why they need to adopt social networking right now and how they can discover its power and realize their expectations for Return on Investment.Ĭonsider this scenario: The marketing director of a Canadian retail chain has been trying to convince his colleagues that the company should try out networking tools like Facebook, Twitter, or YouTube to build relationships with customers. Many CEOs acknowledge that social networking is here to stay.