April 17, 2007
why social media is so important…
A very smart post from James Governor explaining why having social media in organisations is so important:
What am I saying? ROI tends to be about incremental value. Traditional company budgeting and forecasting tends to be about incremental value — what Sig calls the naivety scene. But business in the burst economy is extreme, which calls for new approaches, fast failing and so on.
Of course spotting the opportunity isn’t enough. The mothership also needs to act on it, and often overcome the shackles of success. But i know one thing. Without social/knowledge/collaboration tool junkies on staff your company will never see the opportunity in the first place, let alone act on it.
Stormhoek gets a brief mention. Thanks, James!
no worries Hugh. you’re writing the book, or should I say, Seth is… you’re illustrating it).
Great post indeed. I hear the message over and over..but still only 30% of corporations DO something about this. That is what McKinsey is saying: http://marikaya.wordpress.com/2007/04/17/corporates-connecting/
I’ve been struggling for several months with a piece on ROI (Return On Interaction) or ROII (Return On Investment in Interaction), and I think James’ post will be quite helpful.
I promise not to plagiarise.