Saturday, February 28, 2009

No Social Media Strategy Hurts Your Competitive Edge

K.D. Paine's The Measurement Standard is a must read for any PR Pro.  An entry from earlier this month identifies the six critical consequences individuals (and arguably companies) face by NOT participating in social media. With continuous talk about metrics and what companies and individuals stand to gain by implementing strategic social media tactics, K.D.'s post demonstrates (in a more detailed way) the dangers of inaction. Summarizing her six critical consequences of not participating:
  1. Loss of business intelligence
  2. Low or no market situational awareness
  3. Loss of or failure to establish personal brand or company brand awareness and voice
  4. No interaction means no credibility (or allies) when you may need it the most (think crisis communications)
  5. Loss of competitive advantage (slow response times/information blackout)
  6. Becoming obsolete
What are some of the other consequences of failing to consider and implement social media strategies (personally or for corporations)?

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