Social Media - Time Wasted?

There are two sides to most arguments, and the social media vs. worker productivity issues is no different. Every now and then a group of analysts, who probably collectively have 4 Facebook friends between them, scheme up an obscene monetary figure that represents the amount that businesses are losing due to social media. A BBC piece recently suggested UK businesses are losing up to 1.4 billion pounds ($2.3B). Firing back on the other side are workers, barely able to pull themselves away from the latest Twitter trend, who contend that social media has "real marketing value". Other research isn't so conclusive. OK, somewhere in the middle there is the truth. How can a company combat and encourage social media at the same time?

Here are some suggestions that I would recommend based on my experience in establishing social media program for my company.

• Set clear rules and regulations as it relates to social media in the workplace.
  Who can say what?
  When can you do it?

• Encourage the "bean counters" to get involved in social media.

• Make company spokespeople show their activity online.
  Who are you talking to?
  What are you saying?
  Why are you saying it?

• Track results, both hard statistical sales results and more ephemeral outcomes.
  Google analytics and goal conversion
  Scout Labs to measure trends and attitudes

A top down adoption of social media as a tool is essential. A bottom up acknowledgement of the proper use of social media is essential.

I think to properly utilize social media effectively organizations need to understand how to funnel information accordingly. Upper management should be funneling pertinent information down the chain so that those who are actually broadcasting social media messages are on task. The funnel should filter out everything that isn't relevant. Sometimes the most important things aren't the most relevant things. Social media practitioners should be aware of this and should have the authority to decide what is relevant and what isn't.

From the opposite end, workplace social media users should be aggregating interactions and funneling the most important things up the ladder. Issues of product safety, customer service, and the like should be of utmost importance. Trends, and not singular instances, in product design feedback should also be passed along.

Arguments will always exist for and against the use of social media in the workplace, but an adoption of a standardized procedure should help enhance any business.

Keeping WGI On Track With Social Media

I recently had the chance to speak with Paul Hemingway of Watkins Glen International Speedway in Watkins Glen, New York. Paul is the Senior Director of Sales and Marketing at the track and leader of the track's social media efforts.

WGI was recently recognized by sportsin140.com in the first "Most Valuable Tweet" awards. I was interested in how WGI was using social media and Paul was kind enough to oblige.

BT: When did Watkins Glen start using social media?

PH: Roughly 2006 with MySpace

BT: What social media tools are you using?

PH: FaceBook, Twitter, MySpace, YouTube, LinkedIn

BT: How did you know it was the right thing to do?

PH: We didn't! Great thing about social media is there is very little risk/investment. Worth its while for trial and error. We took a look at the sports/entertainment landscape and saw less dependence on traditional communication methods.

BT: What are you trying to achieve through social media?

PH: Bridge a gap inside the consumers mindset of where they are now and where they want to be. Create track affinity.

BT: Describe a social media success story.

PH: Staged first IndyCar "tweet-up" at WGI in July. Created means for our followers to come together and mix/mingle along with IndyCar drivers/teams who embrace Twitter (Tony Kanaan, Ed Carpenter). Created a lifetime connection with fans.

BT: In your opinion, what businesses are using social media well?

PH: Zappos, ESPN, Phoenix Suns

BT: In five years, will social media be more or less important to businesses. Why?

PH: Interestingly enough, I think equal to or less. I think traditional media advertising will rebound with economy and sophisticated consumers will see through many rogue attempts to connect disingenuously through social media platforms. MANY businesses do not embrace social media, but do it because everyone else is doing it. If you don't own it as a culture, it becomes transparent.

A success that Paul attributes to Twitter was the Indy Car tweetup. He essentially took online offline and made followers "friends" in the true flesh-and-blood sense. This is a fantastic lesson in how to make Twitter work and give the online efforts a tangible result.

Paul presents and interesting viewpoint on the future of social media. Seemingly attributing a portion of the success to a down economy, the future growth of this new marketing medium may dwindle as the Dow climbs. In fact, recent activity on social media sites Twitter and Facebook show traffic stagnating. At the same time the Dow has cracked the 10k mark. Conspicuous timing that supports his theory.

The WGI contingent has truly embraced the social media technology and continues set the pace for other tracks around the country. To keep up with Paul and the gang follow @WGI on Twitter.

Full Disclosure

The FTC says bloggers must be a little more transparent with their content...really? Do we need government bodies regulating what our relationships are with the products we use and endorse? Probably not.

With fines up to $11,000 an employee out seeding the intrawebs with great product reviews for his companies products is a liability. This will have far reaching effects in the corporate world as companies will now have to institute SM policies. This goes for SM use at work and at home. With one in three companies not adapting to the new social media reality, there are a lot of liabilities out there. In liability lies opportunity as "social media policy consultancy" will surely be the next hot gig.

A few questions. Why is there regulation of positive comments on goods and services but no regulation feedback is negative?When "AdSense" serves up a Toyota ad next to your blog about your new Tacoma, are you being compensated for your blog? When Dell sends you a rebate for that new computer you just purchased are you receiving compensation from the company and therefore must disclose this? Will Publishers Clearing House have to roll a disclaimer that "results are not typical" when air a commercial where they ding dong a winner's doorbell? If I read a blog post praising a product, and I don't see clear and conspicuous disclosure should assume this person is not masquerading?