A conversation: Making Sense of Social Media

On Friday, April 20th, 2012, McKinsey partners David Edelman and Hugo Sarrazin hosted a live discussion of of McKinsey’s new research on how senior leaders can harness social media to shape consumer decision making.

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  1. Our conversation was based on our latest Quarterly article, Demystifying Social Media and the video interactive, Making Sense of Social Media. The authors of the report, David Edelman @davidedelman and Hugo Sarrazin @HugoSarrazin, led the discussion on Twitter using the hashtag #McKSocial.
  2. From the Quarterly article:

    "Executives certainly know what social media is. After all, if Facebook users constituted a country, it would be the world’s third largest, behind China and India. Executives can even claim to know what makes social media so potent: its ability to amplify word-of-mouth effects. Yet the vast majority of executives have no idea how to harness social media’s power. Companies diligently establish Twitter feeds and branded Facebook pages, but few have a deep understanding of exactly how social media interacts with consumers to expand product and brand recognition, drive sales and profitability, and engender loyalty." 
  3. How does one measure the impact of social media?

  4. What capabilities are needed to monitor what’s being said about your company and respond appropriately?
  5. Then how do you identify and disseminate that information efficiently and effectively—and then ensure that it gets used? 
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