There is a lot of fear around implementing social media in business. Because social media seems new to a lot of traditional organizations, many companies are trying to balance the harm of exposing their organization to social media against the harm of not entering the market. So what is the best answer?

The concern for many revolves around the inability to control the medium. Social media and consumer integration gives the consumer a voice in the reputation of a product. Now, consumer-to-consumer interaction means one unhappy customer can tell thousands of potential customers how they feel— a tarnished reputation is not to be taken lightly.

The explosion on Twitter of BPGlobalPR is a prime example of social media tarnishing a company’s image. The satirical Twitter account makes jabs at BP and their efforts to control the oil spill and resolve the tragedy in the gulf. The fictitious “Terry” seems to mock the cleanup efforts with a cocktail in hand. With over 160,000 followers, BPGlobalPR gains more attention as the spill continues unresolved. So should BP, like any other company, have stayed out of social media altogether?

No. The conversation about your company is happening regardless as to whether or not you are directly involved. The trialogue created by social media platforms means that it is no longer simply business-consumer. Now, the conversation moves three ways: business-to-customer, customer-to-business, and with social media’s influx, customer-to-customer. Companies need to be involved in that conversation—acting reactively and proactively. The days of waiting on the phone for hours to file a complaint or speak to a representative are gone—the World Wide Web gives companies and customers the freedom to respond in real-time.

Atlanta, June 2, 2010 - Aqua Blue Marketing, Atlanta interactive development and marketing experts, announced today a strategic partnership with the Atlanta Interactive Marketing Association (AiMA) to manage development of AiMA’s digital presence.  The partnership includes developing and managing the new AiMA web site, www.atlantaima.org, member database and deployment of communications across channels.  Aqua Blue Marketing also becomes an AiMA Gold Sponsor.

The new AiMA web site, launched on May 15, 2010, delivers increased functionality, improved user experience and cross-platform integration with AiMA’s existing and planned digital channels. The new site features a streamlined event registration system, enhanced member personalization, updated job board, and new social media integration with AiMA’s Facebook pages and Twitter streams.  The web site will also be integrated with AiMA’s new email, social media marketing and mobile platforms, which will be coming online in June.

The new site is already drawing positive reactions from AiMA members.  The new event registration system, which provides a simplified portal for AiMA members to sign up individuals and companies for AiMA events, received accolades from members registering for the May AiMA Mobile Marketing event.

            In gearing up to start this blog, I thought I’d garner a little insight from Peter Drucker. Drucker’s Managing for Results is one of the pinnacles of business, as we know it today. Written in 1964, Drucker is a pioneer in conceptualizing “business strategy” (the term “strategy” was never really applied to business before this).

            But how could a book, written 46 years ago, still be relevant today? It’s impossible.  With the evolution and transformation of social media, nothing is static. Books written on business just 10 years ago are so dated, their pages may as well be used as wrapping paper. But somehow, Drucker defies odds. Eerily enough, the text still stands as the most relevant piece of business literature today.

            What then would the founder of “business strategy” say about SOCIAL MEDIA? Using Drucker’s own words, we can make an educated guess. In an attempt to pay tribute, let’s see how Drucker’s concept of business then is still relevant now:

1. “Executives should spend more time and thought on the future of their business.” Social media represents the ever-changing, future business environment. It may not be the end-all, be-all, but it is represents modern development. Executives need to stay in touch with the realities of business today. It is a dynamic environment, and old methodologies will not carry a company into the future. In order to stay alive in business, we must be early adopters or at least have the ability to stay current.
2. “The best way to predict future is to create it.” Changes in digital media occur at such a frequent rate, it can sometimes seem impossible to keep up. It’s the pioneers in the industry that are creating the future. If you stay focused on what was new yesterday, you will be two steps behind the leaders tomorrow. Try to stay on top of new trends… better yet, create them!
3. “You can only manage what you can measure.” We’ve heard a thousand times, “if you can’t measure it, you can’t manage it.” Coincidentally, many fears around social media are that it is not measurable. Drucker’s quote, “what’s measured improves” speaks to the adage of measuring and managing. There are a million tools out there today to help you measure your business success through social media. It can be measured and it can be managed. But don’t get stuck using out-dated tools when new ones are constantly popping up.
4.  “For new technology to replace old, it has to have at least ten times the benefit.” Social media has definitely replaced the old ways of creating business, and digital media has done even more in the environment. The advancements of today have already replaced the old, and it’s time for people to realize that the new technology has at least ten times the benefit of the old. People who have adopted social media into their business plans know how the new technology will grow their business (if done correctly) at a remarkably faster rate. OUT with the old. And IN with the new!

BB Richardson