Video:

Social trends in business corporations

Author: John Halpin, James Kirk (yBC.tv)

Categories: Business Strategy, Digital Economy
Tags: Social Media, Tesco Bank
Social trends are a new issue for corporate businesses. John Halpin discusses how corporate organizations might become social and take advantage of our increasingly connected economy.

Social trends in business - The paradox

The real paradox for me are the interesting elements of that, how you link that into a business. And I don’t think anyone’s quite worked that one out in terms of social media conversations, it’s basically people speaking to each other about anything. So where does the big blue business come into that? Where does the brand advocacy come into that? You might see people twittering like, oh, I like Tesco Bank because this product’s great, it’s quite interesting. But does that mean they’re advocate, they’re loyal, can we sell them something else? How can we use that piece of information? I don’t quite know. And you don’t see a lot of advertising at all within the social media space because it’s peoples’ downtime. They’re not really in work, it’s that kind of thing. So I think a lot of organisations, they understand that it’s interesting, big data again, having this information, the linking it, using it. You can see some trends in there, you know. You have to be on the ball as well because they can spiral in terms of a viral, completely snowball in terms of if someone doesn’t like you and they tell a lot of other people they don’t like you. There’s going to be a lot of text coming in to say there’s thousands of people that have read that message. But how you use that in terms of sort of selling stuff or in terms of trade, I think it’s quite difficult. It just might be sort of a monitoring exercise and trying your best to interact with those customers. ______________________________________________________________________ Inside Finance TV will continue to follow ideas about social trends in business and we have more videos from John Halpin.
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