Facebook has over 400m subscribers world-wide. Social Computing became universal in 2009, public channels such as Twitter, Facebook, YouTube, and blogs grew dramatically. Social Computing not only impacts marketing, but also customer services, product development and many other business functions.
Forrester predicts that in 2010, marketers will be treating Social Computing as a mature marketing channel, setting budgets and establishing formal monitoring and measurement plans.
We broadly agree with this analysis, though some organisations are clearly better positioned than others. The organisations that are best positioned have:
- A coherent Social Computing strategy for their brand or organisation
- Made an investment in understanding their Social Computing ecosystem
- Identified the key channels and Social Computing platforms to reach their targeted audiences
- Started small
- Made low key mistakes
- Learned what works and what does not
- Engaged with their customers
- Adapted and refined their strategy
- Grown their Social Computing in a controlled manner
- Treated Social Computing as a key component of the marketing mix
- Become faster and more agile
- Continued to monitor, learn and refine as their audience and the Social Computing landscape changes.
Organisations that successfully harness the power of Social Computing will thrive. Click on the screen for some interesting stats on how other organisations are succeeding using Social Computing:
Forrester predicts that this growing maturity will push the value of Social Computing and its insights deep into company departments beyond marketing, setting up organisations to fully embrace Social Computing and becoming more transparent and interactive with customers.
This is an ever growing trend within organisations. Employees are demanding instant messaging, blogs, Facebook type applications and other communication and collaboration tools on their desktop at work.
In 2009, static advertising strategies started to give way to flexible marketing campaigns as more and more consumers got involved in Social Computing thereby forcing marketers to react much more quickly.
Forrester's 2010 predictions include a new list of expectations for the year, most of these are happening now:
- Listening platform insights go mainstream: No longer is what a company says on Twitter only applicable to those on Twitter. As consumer adoption increases and social media becomes mainstream, what is said on any channel becomes important to a company's entire audience. Therefore, social media insight will play a critical function to the entire enterprise - customer service, product development - not just the social or interactive marketing department.
- Cross channel integration, namely on mobile devices, is a social imperative: A Forrester spokesman said "We've got to increasingly begin to think of mobile not as separate device, but as integral to the entire experience consumers have sharing information and learning about brands."
- Social councils will gain budget and power: Perhaps most contentious point, was the idea that 2010 would be the year social media organisations in companies will gain the budget and power they need to implement actionable strategies.
- Increased focus on metrics: Forrester finds that the average company rates their social media measurability a score of 4.5 out of 10. "2010 is going to be the year companies view [social media] less as the end, and more as a means to an end," Therefore, it's not just about having followers and friends, but about realizing that these people are an asset. In fact, ignoring these individuals can be more detrimental than not having them at all. "We're going to see how social media is really driving mission critical results".
- Facebook will resolve privacy concerns: By protecting user interests around privacy, Facebook be protecting their own. Even so, Forrester finds it unlikely that these problems will cause the social network to lose market share.
Technology and software are improving, which means customers are coming in many different directions. Companies have to ensure that the experience they deliver is consistent and extends across all platforms.
More to think about. Social media will be a key driver in 2010. If you would like more information then click on the link to contact us
