Tag Archives: Social Media for Business

Social Media Networks in Business

So what can businesses use social media for?  As I gather my thoughts on the whole concept of social media and business networks I stop to think to analyse how social media can help businesses.

What comes to mind is communication and the ability to interact… yes Web2.0 and the 4 C’s outlined in Niall Cook’s Enterprise 2.0 book.  Communication, Cooperation, Collaboration and Connection, these are the primary functions of social software.  There are many social media technologies available but the popular ones we hear about all the time are Facebook and Twitter.  I think the main thing here is to focus on are these 4 C’s.  How these primary functions can assist businesses to form networks and communication with its stakeholders whether it be by text, video, image or a combination of these.

A good example is when BNZ turn to social media software Twitter after the Christchurch earthquake to tweet to its followers which ATMs/branches were operational and to help track down their staff.  Using Twitter they are able to build relationships with their customers and create a community of followers; which has proven successful for BNZ.  This gives BNZ  a competitive advantage and they can differentiate themselves  from the other banks.  In this case it was an easy way for BNZ to communicate information to its followers in an emergency situation.   The article states that BNZ is a leader and early adopter of social media compare to other banks and even goes as far to say “some people would switch banks because of the strengths of its earthquake-related social media activities“.   The full article outlines more information on future trends in banking and social media.

Another aspect of the Communication side is the ability to build a community of different stakeholders, whether this is the employees, suppliers, customers it gives the opportunity for these individuals to interact and collaborate.  Now what do you think the advantages are of using social media?

P.S. Something I came across today that I hadn’t encountered before is a chat box popping up while online shopping, “Do you require assistance with your purchase today”.. they were very helpful but how freaky is that!

Believe it or not… something to think about..

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