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Getting corporate buy-in for social media

Overcoming reticence or resistance to new social media initiatives is one of the key challenges facing marketeers in the financial services/technology space. Improved SEO/Google ranking (and therefore improved site traffic metrics) is frequently used as an ROI measure but that seems to be missing the point. The less tangible benefits - raised profile, greater number of "conversations" with influencers etc are much harder to measure but arguably of far greater value to the organisation.

What real life scenarios/case studies have worked for you or your organisation that you could share?

My view is that an incremental approach, gradually overcoming internal concerns little-by-little has more chance of success than trying to launch a mass of initiatives in one go.

Your views?

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A Finextra member
A Finextra member 09 December, 2010, 13:15Be the first to give this comment the thumbs up 0 likes

I suspect that you may prove to be correct and that businesses that adopt this approach will fare better in the long term than those who have assigned a full time marketing person to Social Media.

One issue that always needs to be addressed, especially in larger firms where many people may be involved in social media in one form or another, is to ensure that guidelines are clear and agreed. The issue here is less to do with individuals publishing content that may be damaging. It is more to do with the relationships that your business appears to be building. Brand damage by association with authors who regularly publish obscenities or libelous content is a real risk.

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This post is from a series of posts in the group:

Social Banks

Social Banks is a group that aims to discuss trends and debate as the financial services take their first steps into social media. Twitter, Facebook, LinkedIn etc..debate all here.


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