It’s the New Year, and recollecting the last 12 months we see what a year it’s been! Dictators have been brought to their knees, natural disasters have devastated lives, citizens have spoken up in ways we’ve not seen before and leaders continue to miss the point about the digital age and what it means to the success of their business, their brand and their relationships with the customers – internal and external. In Singapore specifically – the recent SMRT debacle is again another reflection of how existing senior leaders try to hold on to power and not recognize how power, information and control have been democratized. Like I said before and will say it again – the power is in the hands of the consumer. Leaders of all ages – must start to understand the need to engage and not to control in today’s participative economy.
Moving forward – things aren’t going to get easier. The rate of innovation will continue to accelerate. And the scale of online activity will continue to get more mind boggling. Just picture – there are 635,000 Facebook updates a minute. The year ahead will be full of twists and turns. Businesses will be challenged at the speed at which information flows (good and bad) and so will our friends in the public sector. So what should leaders do? How can they cope? Where should they go for help? Here are some quick thoughts that I thought I would share as we enter 2012.
1.       Admit, Acknowledge and Embrace – social media has changed the way businesses engage with consumers and consumers in return engage with businesses. It’s not just about B to C but it’s also about C to B. You can run but you can’t hide.
2.       Get back to basics – it’s literally about putting the customer first. Only this time recognize that your customer has the control; and not you… to a large extent. Once you understand that, start the engagement process.
3.       Get the right help for your org – simple? Understand your gaps.
- Does your existing process allow you to engage in an optimal fashion?
- Do you know what your customers are saying about your brand, your product, your service, etc….and do you know if what they are saying is influencing your marketing, your service, your engagement, your product development, etc…
- You need to identify the right help. One clue – be sure the company/person that helps you has actually done this before i.e. been there and done that. It’s not just about advice, but about advice based on experience. Credentials matter.
4.       Get the right help for you – if you’re a business leader, get a coach. Someone experienced and someone who can help you evolve your mental model on how you embrace Social. It’s going to be the best money you’ve spent in a long time. Making the leap is not easy but essential.
5.       Be genuine. Your EQ in how you do this as a company is as important as the IQ you apply. Be genuine, authentic and honest. Remember, your customer today has a voice – faceless or otherwise he or she is empowered to call you on your BS.
About HareshK
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