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A Social Strategy: How We Profit from Social Media, by Mikolaj Jan Piskorski
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Almost no one had heard of social media a decade ago, but today websites such as Facebook, Twitter, and LinkedIn have more than 1 billion users and account for almost 25 percent of Internet use. Practically overnight, social media seems indispensable to our lives--from friendship and dating to news and business.
What makes social media so different from traditional media? Answering that question is the key to making social media work for any business, argues Miko?aj Piskorski, one of the world's leading experts on the business of social media. In A Social Strategy, he provides the most convincing answer yet, one backed by original research, data, and case studies from companies such as Nike and American Express.
Drawing on his analysis of proprietary data from social media sites, Piskorski argues that the secret of successful ones is that they allow people to fulfill social needs that either can't be met offline or can be met only at much greater cost. This insight provides the key to how companies can leverage social platforms to create a sustainable competitive advantage. Companies need to help people interact with each other before they will promote products to their friends or help companies in other ways. Done right, a company's social media should benefit customers and the firm. Piskorski calls this "a social strategy," and he describes how companies such as Yelp and Zynga have done it.
Groundbreaking and important, A Social Strategy provides not only a story- and data-driven explanation for the explosion of social media but also an invaluable, concrete road map for any company that wants to tap the marketing potential of this remarkable phenomenon.
- Sales Rank: #1752431 in Books
- Published on: 2016-02-23
- Original language: English
- Number of items: 1
- Dimensions: 9.20" h x 1.00" w x 6.00" l, .0 pounds
- Binding: Paperback
- 288 pages
Most helpful customer reviews
11 of 11 people found the following review helpful.
A Great Read to Truly Understand How to Use Social Media from a Business Perspective
By J. Camargo
I was interested in this book because I wanted to see how the author analyzed why many companies talk about social media presence yet very few of them get any economic benefit from their strategies. As a marketer, I was tired of hearing how Facebook likes and impressions were an example of a successful campaign, only to be disappointed when demanding data to prove that these results correlated with lower customer acquisition costs or revenue increases. I'm glad this book explains why I'm not alone. There are countless books on the power of social media, but very few explain how to profit from its use and, more importantly, how to use it as a competitive advantage.
The first part of the book describes the different types of social platforms and how each one of them meets different social needs. I found the concept of social failure extremely powerful to consider when analyzing and developing social platforms that create solutions for such failures, This part is a good read for those who believe that buying Facebook and.or Twitter ads will lead to increases in sales, only to struggle to show the economic benefits of such activities. As tempting as it was to skip to the part that talked about social strategies, I recommend to those who get the book to not do so in order to truly understand how social solutions work and why the ones the author mentions are successful in their own way. This section also distinguishes between a digital strategy and a social strategy, a key difference that very few grasp and can lead to disappointing results.
The second part of the book then analyzes different social strategies that meet different customer needs and, more importantly, how are firms extracting an economic benefit from their social products. The author mentions several examples, my favorites being American Express' design of social solutions to improve its bottom line (more transactions and applications) and Yelp's choice to reward super users instead of paying reviewers to create high quality content. Finally, the author goes through the process of creating a social strategy by analyzing the work done by the Harvard Business Review and by an unnamed credit card company
Overall, a compelling read and one I recommend to managers and marketers who want to better understand the potential impact of social media's economic benefits. I rented the Kindle edition, but the content was so good that I'll buy it just to keep referring to it on a regular basis.
4 of 4 people found the following review helpful.
Awesome Book for Anyone Interested in Effective Digital Marketing
By Robert R
Amazing read. We all use social media on a daily basis, but there are few companies that have truly figured out how to use it effectively to grow and sustain their business. So often companies employ a digital strategy that broadcasts a message or campaign, but they do not engage the consumer in an effective way.
This book takes on the emerging and complex world of social networks, and explains not only their origin and benefits to the consumer, but how companies can use social networks to their benefit. Piskorski's use of case studies not only shows how to effectively go beyond a digital strategy to create a truly social strategy, but it does so in a specific, tangible way.
This is a perfect book for any general manager or marketer who is interested in using digital to drive their business.
2 of 2 people found the following review helpful.
Great resource for anyone interested in social networks, from CMOs to the average user
By Kenyon Han
This is a great book for anyone curious about the current rise of platforms such as Twitter and Facebook. Rather than just providing a history lesson about these companies, the book examines what each platform serves to accomplish and gets into the specifics of what each does and why each has succeeded or failed. Interestingly, it grounds the analysis by drawing on sociology. You won't have to be a technologist to understand and appreciate these lessons. It's refreshing to analyze these platforms from the perspective of basic human interactions and social needs. As the book argues, these needs are nothing new, it's just that these platforms are now able to fulfill them in new or better ways thanks to technology.
While it covers a lot with a lot of good data analysis and models, the book does a great job of developing frameworks to illustrate and summarize these concepts. The case studies are very interesting, ranging from typical tech companies like Twitter and LinkedIn to more traditional ones like American Express and Nike. It's a good mix of industries and strategies implemented. These case studies are good examples of how some have integrated certain strategies into their core businesses that might not be so obvious to appreciate. Reading this book is highly encouraged for anyone looking to work at a social networking company or those hoping to leverage these platforms into their businesses.
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