Tuesday, November 15, 2011

Market savviness requires the use of social media

Recently I have visited a couple of large, traditional Corporations. This means that they are used to doing business in a certain way and that it is very difficult to have them change that way. Change for change sake is of course not good.  Globalization and the Internet Business demand that you are on top of your game, rather than a laggard.  But these big companies are not used to looking structurally and regularly over the big wall, which they have put around their organization.

This means that they have a low level of market savviness. E.g. nobody has heard about Zappos, the power of customer service or the fact that young people want to use their own tools.
They see social media as a threat. The only thing what they are doing is to prepare how to react to some negative messages. This is what they are good at, damage control.

They have never thought about the use of social media for learning. Learning what is going on in their market (e.g. consumer electronics), what their customers are saying and what new developments there are in their area of expertise (sales, marketing, service). This really opens their eyes. Social media is such a powerful tool to keep yourself and your organization up to date on the latest developments.

How are you using social media as a learning tool?


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