To receive Jonathan Hall’s monthly newsletter on Innovation, directly in your inbox subscribe here. Social networking has changed our world, and while we may be entering a phase of “Facebook fatigue”, many of us still value directly engaging with brands more than connecting with friends and family. This month, guest editor Caroline van der Pool, Strategic Director at Added Value Cheskin, explains how we’re only at the very start of the rise of Social.

Build awareness and profit for your brand
Social has moved beyond just having a Facebook and Twitter account. Not only are more brands using social media to influence customers, some pioneering brands are even experimenting with community-based strategy approaches.

Extract value from social data
Social data is everywhere and there’s hope “that Big Data can divine actionable answers from the chaos of social media.” From finance to automobiles, major players in a variety of industries are already extracting value from social data.

Develop innovative solutions
The social web has also allowed organizations and people to come together around a shared purpose and develop innovative solutions. Many prominent brands, like Google and Dell, have created branded collaborative social innovation platforms which not only benefit society but also increase their own brand’s awareness and bottom line.

Harness the power of Social
Social networking sites can help you understand better what customers like and what they still need. Have a look at some simple ways to harness the power of social networks and inspire innovation.

Lululemon’s creative use of Social
Lululemon has creatively used social media to create a richer retail experience by extending the store experience online (and vice versa) and continually inspiring its customers through social conversations.  An emerging competitor has taken note of Lululemon’s social presence, as well as using feedback from customers to improve its product line.

Creative and innovative ways to reach customers
Social media is spurring creative and innovative ways to reach customers. Even traditional industries like Higher Education are embracing Social media and experimenting with innovative ways to reach potential students.

Broadening the scope of idea generation
Enterprise social innovation is another way businesses are innovating. How? By inviting outside contributors to submit business concepts, and so broaden the scope of idea generation.

Social is disrupting industries and behaviors
Non-profits are seeing Social “chip away at the foundation of traditional donor-engagement models”. Makes you wonder what else can social disrupt?

50 Innovative Companies in Social Media
We know about Facebook and Twitter, but find out who the other social innovators are: Chipotle and UPS… See full list.

This is not a new topic
Leigh Marriner, Director Business Consulting at Added Value Cheskin, shared her thoughts on social media back in 2011.

Jonathan Hall, Managing Director, Added Value Cheskin will be back in March.

Image in the public domain.

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