Matt Ridings, CEO of SideraWorks, joins the Social Pros Podcast this week to discuss the differences between social media and social business, why internal social culture is important, and how he went from a technologist to a social business consultant.
Read on for some of the highlights and tweetable moments, or listen to the full podcast.
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- From ExactTarget, a free ebook called The Mathematics of Social Marketing.
- From Cision, a free ebook called Power Your Story: Content Marketing Essentials.
- And from Janrain, a free guide to improve your conversion rates and your data quality.
This week, Expion will send you a signed copy of Jay’s new book Youtility! Just review this podcast on iTunes, take a screenshot of your review, and send it to Jay. We’ll send you the book courtesy of Zena Weist and the good people at Expion.
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“If you can’t be great internally, then it’s going to be very difficult to stay great externally.” – @techguerilla (click to tweet)
“Our argument would be that as transparency evolves, it’s really a forced transparency.” -@techguerilla (click to tweet)
Social Media is Not Social Business (and Vice Versa)
Matt has an inside look at what becoming a social business organization really means because his company consults on the why and the how of understanding and implementing a social culture inside businesses. While the “why” has become more widely known because of increased research and data, it’s the “how” that continues to pose a challenge, both for SideraWorks and its clients. When we talk about social business, we are talking about a holistic shift in the organization, and something that touches every department, not just the marketing and sales departments.
There are two important pieces to social business according to Matt:
1) The implications of social media and the collaboration that organizations have to participate in internally in order to make sure their public face is preserved
2) The adoption and use of technologies and innovations around social that allow for more effective communications
When these two pieces are in place internally, the external-facing side of the organization can be positive and great, but Matt believes that a company cannot truly have an effective social media strategy without first looking inward and building a culture of social within itself.
Transparency is No Longer a Choice
The implications of social business are huge. If organizations start allowing their culture to shift in a way that takes more of its employees online and communicating with the outside world, there’s the risk that more private information about the company will be divulged. Businesses need to not only be prepared for this, but encourage the open sharing of knowledge by building an organization that does not have anything to hide. Tying back to putting together the pieces and building a positive internal structure, organizations must embrace the change and focus on the “remodeling instead of the repair” of their business, as Matt puts it, in order to be successful in the long term.
Matt and Jeff go over some of the legal implications of social business and some of the important KPIs that organizations should be measuring their success against and how to handle a situation where the people who want to move to a social business structure don’t have the power or the influence to make a change.
Social Media Stat of the Week: Facebook Reveals Its EdgeRank Formula
In an important press conference on August 6th, Facebook has announced some changes to its newsfeed, including the introduction of “Story Bumping” and other tactics that will help you see the news and updates that are relevant and interesting to you. Based on the research conducted prior to the announcement, the average user is seeing 57% of the stories in their newsfeed, meaning 43% of stories are not being seen at all. Story Bumping will push posts that users haven’t seen yet (even if they were earlier in the day) to the top of newsfeeds, in the effort to help users see up to 1,500 stories per day.
Jay and Jeff agree that this is likely a good move for Facebook because it puts less weight on when Facebook updates were published and more weight on how relevant they are, regardless of when one user posted them and another user logged on. Over time, this will help people see the things they truly care about without being logged in to the site 24/7. As a marketer, on the other hand, it may be more difficult to start gaining traction for your brand if you are not already known and loved by many users.
Four Your Information
How did you get involved in social media?
Matt used to be a technologist and worked for the company that coined the term “relationship marketing”, so when Twitter and Facebook emerged he could see the value right away in the way they help build relationships and connections among people. It was a no-brainer for him.
What do you like best about social media?
Matt loves the fact that social allows you to interact directly with like-minded people, especially since he lives in St. Louis where he feels like it can be difficult to find people to talk about the issues that he cares about. Social has opened the door to that community for him. He also was able to meet Amber Naslund, his business partner and Jay’s former co-author, through social media.
What do you like least about social media?
The fact that you can be anyone you want to be on social annoys Matt, especially when he sees people he knows in real life act differently online. It’s a “curated self”, as Jay puts it, and it can be frustrating to watch people be ingenuous online.
If you could do a Skype call with any living person, who might that be and why?
Neil deGrasse Tyson, a brilliant astrophysicist who knows a lot about a variety of different topics, is hilarious, and has a over a million Twitter followers. Perhaps one day Neil can be a guest on Social Pros!
See you next week!