The 7 Success Factors For Social Business [RESEARCH]

by Jason Keath on Jul 18, 2013
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The Seven Success Factors of Social Business Strategy88% of of social strategists, according to Altimeter Research, are not confident that their social plans look beyond the next 12 months. And 66% of them have not connected their strategies to business outcomes.

Umm, Houston, we have a problem.

Charlene Li and Brian Solis, of Altimeter Group, just released a new ebook, The Seven Success Factors of Social Business Strategy, that aims to help social strategists get back on track.

It’s a very useful read for any big business or marketing department. Throughout the book Charlene and Brian help readers learn how to align their social media strategies with business objectives to deliver real results and ROI.

Building off their research to map the evolution of social businesses, Altimeter is continuing to expand on the topic of Social Business and their already impactful 6 stages of social media transformation that most companies tend to follow.

You can buy it for Kindle and Nook right now. At 100 pages, the book is perfect to load up for that next business trip.

Oh, and it is only $3.99, so there is really no reason to delay picking up your copy.

Altimeter 6 stages of social business evolution

So let’s dive straight in to these success factors that make or break a social business.

The book goes deeper, way deeper, but this will give you an idea of where you stand.

1. Define the overall business goals.

Explore how social media strategies create direct or ancillary impact on business objectives. What are you trying to accomplish and how does it communicate value to those who don’t understand social media.

2.  Establish the long-term vision.

Articulate a vision for becoming a social business and the value that will be realized internally among stakeholders and externally to customers (and shareholders).

3. Ensure executive support.

Social media often exists in its own marketing silo. At some point, it must expand to empower the rest of the business. To scale takes the support of key executives and their interests lie in business value and priorities.

4. Define the strategy roadmap and identify initiatives.

Once you have your vision and you’re in alignment on business goals, you need a plan that helps you bring everything to life. A strategic social business roadmap looks out three years and aligns business goals with social media initiatives across the organization.

5. Establish governance and guidelines.

Who will take responsibility for social strategy and lead the development of an infrastructure to support it? You’ll need help. Form a ‘hub” to prioritize initiatives, tackle guidelines and processes, and assign roles and responsibilities.

6. Secure staff, resources, and funding.

Determine where resources are best applied now and over the next three years. Think scale among agencies but also internally to continually take your strategy and company to the next level. Train staff on vision, purpose, business value creation, and metrics/reporting to ensure a uniform approach as you grow.

7. Invest in technology platforms that support the greater vision and objectives

Ignore shiny object syndrome. Resist significant investments until you better understand how social technology enables or optimizes your strategic roadmap.

Success factors

Charlene and Brian studied how the best companies create measurable value that aligns with overall business objectives and share how to incorporate these insights into your strategy and planning process.

Do yourself a favor and get back on track with your copy today.

Post Author

CEO and founder of Social Fresh, the social media education company. Jason is a social media consultant, a social media speaker and industry analyst. He consults with corporations and agencies on social media strategy, building community, and influencer...

  • Chris Smith

    Great guidelines for social strategy. However, in my opinion they have left off the most important, critical element that should drive all social strategy. Data

  • Chris, absolutely agreed. You’ll see that we dive into data as a fuel line to strategy throughout the book. :)

  • Chris Smith

    Awesome. I’m excited to read it.

  • It looks like a very interesting book and you presented a little bit of it very well.

    Social media is a strategy that should be incorporated within another strategy called “outreach”.

    Like Chris mentioned, data is an important element to look at and how to change our strategies based on what is changing.

    Changing based on the new and current data.

    I am still a very small business, but you might never know what the small man can learn from the big guys. ;)

    Samuel from Internet Dreams

  • Good observation Chris. I suspect they dive in to data in a big way. Altimeter values data to a large degree.

    Thanks for reading.

  • Thanks Sam.

  • It was a great read. It has been my experience that some people and businesses are not sure how to plan for the future because they are not even sure what they are doing now. A lot of people need to find out what their “big idea” is. How can you plan for the future when you don’t even know what you have to offer.

    Thanks Jason, keep up the great work.

  • Thanks Barry. Benchmarking and knowing where you are to start is a pretty crucial piece of the equation. Completely agree. And one that we often forget or miss.

  • Sometimes going back to the start or basics is the best plan to take.