Why social media strategy is a must have for all

Companies face social media challenges on the scale of those faced when internet was invented in eighties. The reluctance to accept the change in the consumer behaviour can cause corporate managers heartburn. To say that the social media is not relevant for me now is almost like saying I do not understand the internet.

Indians are increasingly relying on social media for product reviews. According to a survey published in The Times of India , some 40 million or 67% of Indians on the web, rely on online reviews to make purchases.

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Corporate executives will have to engage social media consultants (if they have not already) to ensure that not only they sell better but also create an appropriate perception to the consumer.

Grab a copy of ‘The executive’s strategy to Enterprise Social media strategy’ by David B Thomas and Mike B Barlow to get on top of basics. “There are some enterprises in which a careful disorderliness is the true method,” the book begins by quoting Herman Melville, the 19th century American author of ‘Moby Dick’.

Luxury brands, wine and single malt whisky makers, film and electronics gadget makers, consumer product makers to car makers are all busy working on the next strategy that will take them closest to the consumer’s heart. Another book worth having a look for corporate executives is by authors Peter R Scott and J Mike Jacka of Institute of Internal Auditors of a Research Foundation. The book speaks about being an audit of the social media.

In India, companies are adapting to situations briskly. Business leaders like Vijay Mallya and Anand Mahindra are active and vocal on social media networks speaking their mind. Politicians like Sushma Swaraj and Rahul Gandhi are also busy letting the world know their views.

However, there are many others who choose to keep a low profile. We hope they are busy empowering their managers to exploit the social media to sell their goods and services. After all, it is important to communicate to the constituency to get the job done.