31 Jul '11, 9pm

What's your social media strategy?

A global bank executive recently described to us a challenge for our times. It turns out that a customer who normally would qualify for the lowest level of service has an impressive 100,000 followers on Twitter. The bank is not doing much yet with social media and has no formula for adapting it to particular customers but the executive still wondered whether the customer's "influence" might merit special treatment. It is the kind of perplexing question many companies face as they formulate their thinking about social media. To understand how businesses can approach the challenge, we analysed strategies and practices at more than 1,100 companies across several industries and continents, and conducted interviews with 70 executives who were leading social media initiatives. Our research revealed four distinct social media strategies, which depend on a company's tolerance for ...

Full article: http://www.todayonline.com/TechandDigital/Digital/EDC1108...

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