Executive Briefings

Retailers Can't Do Social Media Strategy on the Fly and Expect to Be Successful

For your retail social media strategy to work, you're going to need to put 20 percent of your budget toward that strategy. You will also have to keep doing that for the next three to five annual budgets. That's a radical change from the way you probably think about social media. Forget just hiring a "Twintern" to manage the reputation of your brand in the social space. The toughest part of any solid social strategy is the business-case pitch to the executive team. The new world of everything "social" will absolutely be a game-changer for business as we know it. But it will absolutely not happen overnight. And it certainly won't be cheap.

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For your retail social media strategy to work, you're going to need to put 20 percent of your budget toward that strategy. You will also have to keep doing that for the next three to five annual budgets. That's a radical change from the way you probably think about social media. Forget just hiring a "Twintern" to manage the reputation of your brand in the social space. The toughest part of any solid social strategy is the business-case pitch to the executive team. The new world of everything "social" will absolutely be a game-changer for business as we know it. But it will absolutely not happen overnight. And it certainly won't be cheap.

Read Full Article