There are four benefits that i have found :
- wider audience exposure
- build relationships
- successful branding
- risk management strategy
In Australia, there are only a few organisations using social media which is lagging behind other countries. According to a global analysis from KPMG Australia, China's adoption rate is 87%, 71.5% in the US and 70.2 % in India, Australia is second last at 41.6 per cent. It is, however, still well ahead of Japan where just 27.5 per cent of businesses use social media. (link)
Organisations should take advantage of social media, but should also beware the negative impact of it. What do you think?
I am quiet surprised that Chinese adoption rate of organisations using social media is higher than the US! I totally agree to your point that it is essential now for organisations to use such tool.
ReplyDeleteHowever, like you said, many overlook the about the issues of social media, especially the power of eWOM or electronic word of mouth that spreads faster than traditional word of mouth.
It is quiet risky, especially when online users have the freedom of speech with no restrictions. However, it is up to the organisations to set up the objectives and of course monitor their social media marketing carefully. This seems to be a big issue for many organisations today.
Nice work, Mary. A couple of excellent resources you've linked to, which hopefully will find their way over to our wiki in future chapters!
ReplyDeleteI am also amazed at the reported uptake of SM in China. Of course those organisations aren't necessarily using the same SM tools that we use here, but still a big number!
Hi Mary, great post. After initial discussion in class about SM in China, I am also very surprised by the numbers above.
ReplyDeleteI have never actually come across a real disaster where a company really suffered serious damage from SM, but then as you indicated, it is so difficult measure the effects that SM has on the bottom line, I can't really say i have come across any real success stories. Sure you can say Coke has 32mil likes, but what does that actually mean. It seams that a lot of the blogs from the class are talking about the difficulty of measuring it, lets see if we can all come up with a way to measure and then sell it to all the bog companies and retire!
Ross