As more and more businesses migrate to use of social media it quickly becomes evident that they lack a strategy.
In the coming months and years we will see a new knowledge domain emerging and it will be labeled as “social strategy“. Like every other management mantra of the past defining, developing and executing a “social strategy” will become main stream within the ivory towers of corporations worldwide. Why? Because the “markets of conversations”
will continue to influence how leaders think and what they do. Which
ultimately means all things related to strategy will have to change in
order to meet and exceed market expectations.
What Will A Social Strategy Encompass?
Since social technology is new there is
a lack of knowledge relative to its impact on strategic thinking and
the related disciplines. Traditionally strategic thinking has
encompassed organizational alignment of key elements present in most
organizations. These elements included: organizational design, culture,
leadership, management, communications, marketing, technology, human
relations, finance and market research. There are a host of subset
elements for each of the primary elements but in essence strategy was
about development and deployment of a road map that maximized the
efficiency and effectiveness of the entire organization.
Methods for developing a strategy have varied slightly over the
years but for the most part all relied on the collection and
assessment of relevant and relative data which verified and created the
strategic direction. Directions were aimed at maximizing performance.
Now with the emerging influence of social technology a new element
enters into the process of building and deploying effective strategies.
Lets Start With A Definition of “Social Strategy”
Lets try this. A social strategy defines how the organization can better “relate and communicate” with all its constituencies. Constituencies
includes people (markets, suppliers, customers, investors, society and
employees) who interact with the organization, internally and
externally.
Because the reach and richness of social technology is new it has
never been considered of strategic importance until now. The ability to
relate and communicate impacts everything, everyone and at speeds never
before experienced. The knowledge domain of these issues simply does
not exist but is evolving day by day and the related changes impact
everything and with everyone.
Planning For A Social Strategy?
It is never to early to begin to make plans before
the markets makes the plans for you. Based on our experience and study
creating a social strategy begins withh mapping out how your
organization currently relates and communicates to its constituencies.
Additionally it is also of critical importance to conduct relevant
research which defines what, how, when, where and why the market may be
discussing your organization, its products, services and people. From
these two assessments the data collected will help define the vital few
issues needing immediate attention and the critical issues needing
change over the long term.
Learning is always an element of strategic development and creating
a social strategy will require a plan for the entire organization to
learn who,what,where,when, why and how to improve “relations and
communications” internally and externally.
Strategy is about having a road map to reach strategic objectives.
Social strategies is about how to ensure your organization is ready to
follow the map effectively and what new knowledge is required.
Knowledge about the technology but more importantly knowledge of the
inter-related dynamics it creates and the impact those dynamics have on
results.
Stay tuned as everyone learns the disciplines and knowledge required
to develop and execute a social strategy. Doing so requires a new mind
map that is in opposition to business as usual and defines a new road
map for business thinking and processes that are unusual. Not having a
social strategy means your organization will likely fail in the
emerging markets which is quickly replacing all markets.