Growth

It has been an enriching and rewarding semester delving into the world of social media business. Is social media changing our society? Is social media bad or good? I can write at length about these two questions and I can accumulate research to support an argument but I wouldn’t be elaborating on what I’ve gleaned from “IS6621”. The course offering didn’t change my views on social; I didn’t learn anything new in regards to what it is, how it works or how it affects our society. What I did learn is that the majority of business executives who operate long withstanding companies are more accustomed to traditional media. A lot of our readings touched upon the theme of social media integration and proving the ROI on utilizing social. It is an age old cycle that will never change as long as we have a culture of innovation. “IS6621” taught me the value of keeping an open mind with technology and to trust those who understand it better than myself; in particular, this lesson becomes increasingly more valuable as we age. Younger companies are integrated with social, older companies that have leveraged new media have undergone a certain growing pain as a result but they have utilized the return. Technology has been doubling every 18 months. Communications will increasingly become more convenient and the added convenience will present new inconveniences that will prompt more innovation, and the cycle continues. If everyone is using social as a new and primary means of communication than I believe businesses have to adopt it; it should be treated as a telephone. “IS6621” taught me that from a business standpoint, relative consistency is more important than content as it pertains to social, specifically Twitter. I believe this to be true because the language and the communicative constrains of Twitter encourages consistency, which in turn creates a demand for administrative professionals who need to dedicate large amounts of time to strategize to gain contrast and engagement for their brand and in turn create new employment budgets, new professional categories complimented by new skill-sets and ultimately new economic growth and the cycle continues. Growth, it is about growing, learning and understanding, which brings me back to the vital lesson learned from “IS6621”; keep an open mind to new technologies, especially when you get older, the more open you are as you age, the more value you will attain because you are allowing yourself and/or your business a greater opportunity for growth.  The rules of business will never change; a person will pay for a service or a product that is deemed to fulfill the value of the payment. The rules of marketing will never change either; communicate the value of the product or service. The rules of the ‘playing field’ will never change either; some businesses have more resources than others. Social media/internet/communications can help to level the playing field just that much more. It is great for small and new businesses and I would say it is essential for larger more established businesses. If a smaller direct competitor generates 90% of their business from the internet/social and if the company is growing then it would behoove the bigger competitor to leverage the same tools in order to maintain market share. That is why it is vital for bigger companies to pay attention to new technologies and to be open to utilizing them as a means to maintain and potentially foster new growth. “IS6621” has been one of the most interesting and fresh courses I have ever taken. The discussions created a free flowing environment of ideas and opinions while mirroring the discussion in the digital domain through blogging and comments; thank you Professor and classmates for a wonderful adventure into the world of social media business. – Happy Holidays.

2 comments

  1. Thanks for sharing! I’m glad you brought up the issue with measuring social media’s ROI. When thinking about this, I often think of this nugget of wisdom: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” While social media provides a cost effective way to market, it’s unclear what value is truly being captured by a business. What is the actual value of a like? Is it better or worse than a comment? What about a share? I actually worked with an ad agency this summer and part of my job was to measure the effectiveness of individual posts and assess the trends/themes that we could leverage. The general rule of thumb is that you don’t know what’s valuable until you put something out there, then learn, then update, then learn some more, then update and so on. In other words, the immediate benefit of using social media isn’t apparent, it’s only through continuous trial and error that value can be extracted. I also agree that social media is in a sense like the telephone. Those who are late to adopt the technology will fall behind. To forgo using it (particularly in the business world) is naive. Finally, the open discussion format of the class makes it easily one of my favorite courses at BC. I hate mindlessly staring at a screen while rattling away on my laptop. I never feel like I’m learning in courses which are structured as such. But with our class’s open discussion format, I feel engaged and interested throughout.

    Have a Merry Christmas!

  2. Nice closing.

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