Social Media is Good For Business

Over the past several years, we have witnessed a Social Media Revolution. MySpace, Facebook, Youtube and Flickr (just to name a few) are no longer obscure web2.0 distractions, but popular applications used by hundreds of millions of people and businesses. To ignore or revolt against it is futile and bad for business. Instead companies should learn to embrace the power and influence social media has unleashed.

To all you C-levels, if you haven’t read the Cluetrain Manifesto, you should. In short it highlights that the internet is enabling conversations among human beings that were simply not possible in the era of mass media. The days of corporate talk and spin are over. Quite simply markets are less responsive to Corporate banter. Rather markets want to hear a human voice. Companies are comprised of real people who know how to talk to real people. Social Media is the enabler.

So how can companies benefit from Social Media? By allowing their employees to talk to the market, which happens to consist of their friends, family and drinking buddies. These people are your market, your employees, your critics and your advocates. Companies shouldn’t fear Social Media, they should embrace it.

While I acknowledge the fear of loss productivity is real and no doubt some employees will abuse the right, clear policy and guidelines should limit abuse.

Don’t fear Social Media. It’s here to stay. Embrace it.

For more on this subject, check out the latest Ragan Poll: Fear drives managers to ban social media at work.