Who doesn’t want to excel is business, but how many achieve the set objectives and how many die? It’s a trend to transform a business into a social business so that the customers become producers and the entity becomes self sustainable which can run on auto pilot mode.

How can one convert into or start a social business. Make sure, it has following characteristics

Conversations

It’s important to have a two way conversation between producers-consumer, consumer-consumer and producer-producer (competition). Unlike traditional way of promoting a business, social way of promotion shall give you benefits of feedback, sensors and improvements.

Participation

Social business encourages contributions and feedback from everyone who is interested. It blurs the line between media and audience.

Openness

Encourage voting, comments and the sharing of information. There are rarely any barriers to accessing and making use of content – password-protected content is frowned on. Never try to suppress negative feedback, be open to learn from it and showcase how you improved after.

Connectedness

Make use of competitors, respect and connect with them. Make use of links, sites and people.

Community

Social media allows communities to form quickly and communicate effectively. This is a ‘auto-pilot’ click point. Communities share common interests, such as a love of photography, a political issue or a favourite TV show. One your business forms such a community, it runs by itself. Trak.in is such an example of community of bloggers.

What makes a social Business

Run a Social Business

Social Business

Satyam is a Consultant with Infosys Ltd. and editor / founder of marketinomics.com. When he is not talking about Digital Marketing or dreaming of CRM strategies, he can be found on a treadmill. He enjoys travelling, reading and listening to music! Catch up with him on twitter at @xatyam

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