Fresh Insights

Everywhere you go you see people taking pictures on their mobile phone. Any time you read something, you're bound to come across something to do with social media. The landscape of the best and brightest companies has changed so dramatically because of social media. Ask your child the companies they know, and I can guarantee you that the Company is a fast growing rocket ship with a big role in the social market. For example Facebook who had one of the biggest initial public offerings ever. You may also follow Yelp, a user review and recommendation site. And of course who would forget Twitter, which probably will be the largest IPO of 2013 assuming Apple or someone else does not buy the Company before going public. Every company, both mew and old world, is looking to go social. I recently purchased a Nike Fuelband. Not only does it track my daily movements, it also allows me to compete or share active information with my social friends circle thru Facebook or other social networks.

Regardless, if you are setting up a Company do not worry. You have not missed the boat if you have not figured out a winning strategy. You don't need to be the first on the block. As a CEO or senior manager, you need to participate. your leadership depends on your comprehension of social media.

To draw a baseball analogy, social media for business is in the top of the first inning. I would like to relate this thru the S&P Data experience.

S&PData recently worked with a customer to manage social eCommerce. The data was compelling. The competition to our client had several thousand customers complaining about the service and cost. Our job is to proactively intervene and invite the customers to consider our client offering. If you believe like i do that sales is about problem solving, then social ecommerce and sales should be compelling.The engagement has been really great. Having said that, customers have more often than not called into the call center than they have purchased thru social media.

Service and sales via social media has a bright future. Today, it's pretty new and exciting.

Dan Plashkes, CEO & Partner S&P Data LLC