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Originally posted on Financial Post | Business:
For leading-edge marketers, social media have moved beyond the novelty stage to a point where they can now produce real business value. There are now a variety of winning strategies many organizations can emulate. However, most firms continue to pursue social media 1.0 tactics — Facebook pages, Twitter accounts, LinkedIn profiles — to attract new customers and engage existing ones. Collecting many “friends” and “followers” is good but it generally does not lead to higher revenue and profit.
A new study recently published in the Harvard Business Review looked at the social media strategies and results of more than 60 companies across multiple industries. The researcher, Mikołaj Jan Piskorski, discovered social media strategies that perform well and other strategies that failed to drive the business.