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From Knowledge@Wharton: Social networks of digitally-connected customers and employees are growing in power and influence each day, but companies are often still blindsided by this phenomenon. Barry Libert, CEO of Open Matters and author of Social Nation, says the reason is that corporate leaders tend to focus on internal issues like operational excellence, but are confounded by external forces such as social networks that they cannot control. In this interview with Knowledge@Wharton, Libert shares a four-step process that companies can use to harness the power of social media and networks.
From FastCompany: As the water crisis documentary Last Call at the Oasis opens, Participant Media executives Christopher Gebhardt and Chad Boettcher explain how they use social media to turn complex, overwhelming issues into hope and action.
From strategy+business: According to this research, consumers who join a company’s online community spend significantly more on the firm’s products than they did prior to signing up or in comparison with similar customers who are not part of the network.
From Keith Sawyer at 99%: A fascinating article by Professor Katherine Giuffre of Colorado College, asks the question: Do social networks contribute to creativity? Previous research is pretty compelling: social networks and collaboration contribute to greater creativity. But as Giuffre points out, no one has compared creative and non-creative periods during the lifetime of a single person.
From Blogging Pro: Listed in Time Magazine’s “50 Best Websites of 2011” Pinterest is the new social photo sharing website on everyone’s lips. But how can this new social platform help to increase your business?
From FastCompany: Rather than counting how many followers you have in your network, what you ought to be doing is figuring out how to get the most benefit from the right ones. And despite the hype, my own informal canvassing has convinced me that most of us aren’t very strategic when it comes to the best way to take advantage of the enormous potential of our own social networks.
From FastCompany: Desktop software is sold “by the seat.” But a “by the hour” pricing structure offered by cloud-based apps means smaller businesses can put everyone on customer support — even the CEO or the weird guy clinging to his red stapler. Customers are increasingly expecting to get help from companies through social media, like Twitter and Facebook, in addition to traditional channels like phone, email, and web. That’s why Salesforce is launching a new application, called Desk.com, aimed at small and medium-sized businesses.