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September 26, 2012

For those who believe a social media strategy is right for them, should read this post. Mitch lays out some very relevant questions and thoughts to consider. Bottom line, if you are not capable of measuring results, focus on some other aspect of your value chain.

Mitchell Osak Online

Most firms are expected to significantly increase their spending on social media over the next 18 months.   However, managers need to ask themselves if they have the capabilities to exploit its potential?  Our experience and industry research suggests that many companies are ill-prepared to leverage social media.  They will first need to optimize their organizations and then get three best practices right.

Social media is clearly near the top of the corporate agenda.  According to a 2011 Booz & Co. and Buddy Media survey of 117 companies, 40% of CEOs reported that they will be increasing social media’s priority within their firm. About 95% of the respondents indicated that they will invest more in social media.  To efficiently and effectively scale up this investment, firms must make certain they have the right organizational design and the requisite capabilities, including the ideal combination of people, skills and technology.

Given its relative…

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