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Is Twitter Too Big To Fail?

By | Professional, Strategy | No Comments

Today on social media day and in the wake of Facebook’s (successful or unsuccessful, you decide) IPO I pose the question, “Is Twitter too big to fail?”.

Twitter is a de facto media company, for all intents and purposes, despite what their CEO says. In the recent past Twitter has been the source of live media coverage of the raid in Pakistan and an important part of the digital revolution in Egypt among other notable events. Personally, Twitter is my trusted source of news and information and is my primary method for connecting with other influencers in my network or reaching out to find expertise around the world. Facebook, on the other hand, is my place to keep in touch with friends and family and find out what plants my mom is planting in her garden (hi mom!). To me, this is an important distinction; Facebook = personal and Twitter = personal+professional. Given this distinction and context I am in constant contact with my Twitter stream throughout the day and use it as my first source of news (I heard about the SCOTUS ruling on the Affordable Healthcare Act (#AHA) via SCOTUS blog on Twitter before going anywhere else). With Twitter being such an important part of breaking news /and/ making news, should the cost of operating Twitter just be considered a cost of doing business in the world today?

The pressure on companies to monetize and subsequently go public is huge as VCs and others look to receive large payouts from their investments. While I am not against this practice (I hope to one day be a beneficiary of this practice!) I do believe that this practice is not a good model for all companies and I’d like to propose that Twitter might be one of those companies. With Twitter being so vital to sharing/creating news, organizing people, governments and providing a voice to those who otherwise might not have one I believe Twitter might just be too big to fail. Maybe instead of viewing Twitter as another social company with a huge upside on investment or trying to figure out how to monetize Twitter we should instead focus on how to further make use of a tool that has already changed the shape of our world in just the past few years.

What do you think? Is Twitter too big to fail and should the pressure be removed from Twitter to monetize? Should the world just consider the cost of running Twitter as a cost of existing in the world today? These are huge questions; sound off in the comments section or find me on Twitter to continue the conversation.

Corey Rawdon

The New Social Business Engagement Equation

By | Professional, Strategy | 2 Comments

Conversations between a social business and their alumni (read: customers) and partners should be, well, an actual conversation. Information should no longer be pushed out from the ‘social media suite’ where messages are carefully crafted, tailored and often stoic marketing messaging; rather, companies should allow their employees to have genuine conversations and build eminence via the company’s social channels. Why is this important? Raymond Nasher, a famed Dallas developer, is credited with once saying that you should create an alumnus, not a customer of your business. His reasoning? Customers come and go but alumni always come back. If NorthPark Center (his highly-successful retail development) is any indication, I think Mr. Nasher was on to something: social business is not about creating customers, it’s about creating alumni (b2c and b2b) – and your employees can help!

The days of needing so-called ‘social media experts’ are over; your company’s employees are those experts, and they are ready to dig in to help you build your social business. Where and who are these experts? Take a look around your office and you’ll find your social media team sitting right there with you. Go ahead, look around… yes, I’m serious here; look around, view some emails, scan your address book (and memories) for names of your colleagues. See everyone?

There they are! They are your experts and they are the team members who will help grow your social business, creating alumni for your company. Now, take a moment to surface a few names of people who:

• Are go-to leaders for product and business expertise
• Are high-performers
• Have good relationships with multiple departments and teams
• Help put ideas together and
• Who openly share their experiences

If all of the employees at your company are content creators, think of these people as your content curators. The content creators generate the great content which drives engaging conversation and builds eminence and thought-leadership for your company while the content curators weave the stories throughout your social channels.

Open content creation for company social channels breeds a new level of engagement; one that is no longer constrained by marketing heads who think social is all about distributing MarCom while stifling the voice of the employee. Rather, it’s one that puts the power to connect with your alumni network in the hands of the people who already help build your “brick-and-mortar” business daily. Why limit the building of your social business to the 7 people (the size of your social media team, give or take a few) who sit in the ‘social media suite’ crafting messaging around marketing and responding to edge-cases when you can let 70,000 people (the size of your company, give or take a few 10,000) craft content that is meaningful, engaging and relevant? Consider the sales rep who wants to have a social dialogue with their contacts; the engineer who is a thought-leader but their messaging never leaves the office; the service rep who has great technical skill but is limited to sharing that knowledge with their immediate team; the RN who wants to share small bits of helpful knowledge to patients everywhere but their knowledge is only heard by a select lucky few. It is these 70,000 voices that will create alumni and build your social business, not the voice of 7.

You may be more than a little nervous with the disruptive idea of turning 70,000 people loose with the keys to your social business kingdom (and if you’re a healthcare company you likely just fainted and are now reading this 5 minutes after using a cold compress to wake yourself up). While this idea sounds daunting at first things are never as bad as they seem; in fact, those 70,000 voices already hold the keys to your company’s kingdom. The 70,000 already build your product, speak to your customers and manage your partner relationships today in the brick-and-mortar world; this simply expands that empowerment to the social world.

So how do you enable the 70,000 to create content that builds eminence and promotes genuine conversation while weaving a cohesive story and protecting your company’s brand? Stay tuned for my next blog post to find out or contact me for more details!

Corey Rawdon

Patient Compliance Reminders and Social Media

By | Professional, Strategy | 5 Comments

Ensuring that patients adhere to their specialty-drug therapy program is a manual, time intensive and sometimes ineffective task. The traditional methods of telephone calls and direct mail letters no longer apply to today’s social patient. The social patient needs to be connected within the communications medium they are most comfortable: social media. My idea reaches out and improves communication to the social patient: deliver program compliance reminders in a secure way (protect ePHI for HIPPA compliance) to the patient via a medium where they are most likely to consume the content.

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