A World Gone Social summary

Many companies believe that losing one customer won’t really impact their bottom line. While that might have been true in the past, it’s seriously misguided today.

That’s because social media platforms can amplify a single voice, making it heard by millions of people.

Every so often, a scandal sweeps through the media, exposing a company’s shameful mistreatment of employees. Although the incident likely won’t destroy the company, it will tar its public image.

Today’s most socially savvy companies do their best to avoid this scenario by engaging with their workers and figuring out how to meet their needs. This is the very first step to building a great business.

We’ve taken a look at how companies operate differently in the social media age. But there’s one important aspect we haven’t talked about: It’s important for modern organizations to think small-scale in order to respond more quickly to specific demands.

That’s partly because in general, smaller companies are more nimble and can innovate more quickly.

Imagine a company where employees are allowed to make big decisions on their own, without managers? This dream world is increasingly becoming a reality, as companies move to adopt flat hierarchies.

Why are flat hierarchies so appealing? Well, when employees are able to make their own decisions without asking authority figures for permission, they take more responsibility for their work, feel more engaged and are more likely to identify with the company.

One of the most powerful benefits of social media networks is that they allow us to tap other people’s knowledge and share our own.

Think about it this way: Although most us are probably relatively good at something specific, we lack expertise in many other areas. But social media platforms allow us to combine our own knowledge with the expertise of all the individuals who make up our network. This means a group of mostly ordinary people can come together to form an extraordinary network of knowledge.

Not yet convinced by the power of social media? Do you still think that these platforms aren’t relevant to traditional business? Well, you’re wrong. Even banks can benefit from social media.

Think about it this way: There are over two billion people – all potential customers – engaging on social networks. And it’s easier to meet potential customers where they are already hanging out than to get them to come to you. So ultimately, being a social leader is a competitive advantage.

Since mistakes are as common on social media as they are in non-digital communication, you should periodically conduct check-ups using these best-practice guidelines to ensure you stay on top.

First of all, make sure your company is presented properly and that all your profiles across social networks use the same logo, fonts, schemes and branding messages. By being consistent in your presentation, you’re making it easy for members of your community to recognize you instantly, on any platform.