The Social Media Strategy Framework

In times where 60-80% of purchase decisions are based on recommendations, the best leverage of social media is making sure you are part of the recommendation chain. And that requires a sound business strategy.

Social Media Academy Strategy FrameworkThere have been quite some discussions about social media strategies recently. So I thought I share what we developed over the course of the past three years and is today in practice by some 40+ social media managers and consultants in many parts of the world and vetted by some 20+ mostly corporate social media strategy projects.

Admittedly this framework may not apply to a small business below 20 people. But even there it may be helpful to see the components.

 

The Strategy Hexagon (six components) is based on two assumptions:

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Customer Experience vs. Profitability

Most teams are trying their very best to make customers happy. Some are more lucky than others to get some executive buy-in. Often times I get asked how they could convince their executive bench that improvements in the customer experience model is very important. Customers are requesting the same but executive are often too busy to focus on shareholder value discussion than on business execution.

We made a little test and ran some sentiment analysis across fortune 1,000 companies. The result shows a stunning correlation between customer experience and profitability. Customer focused businesses who create a positive customer experience are also profitable. To the contrary, those businesses who care less about their customers and have a largely negative brand reputation (measured by customer sentiment) are also not profitable.

 

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