Corporate Benefits In The Social Media Strategy

Definition of corporate benefits

Corporate benefits are the benefits that the company can and wants to achieve in social media.

Companies can generate several different corporate benefits in a social media strategy.

Importance

Social media strategies serve the company’s success. Corporate benefits define the desired contribution of a social media strategy to corporate success and are therefore a guideline for the design of the social media strategy and the use of social media by the company.

Application in the potential-based strategy model pbsm

Corporate benefits in the pbsm.

Corporate benefits are a strategic component of the potential-based strategy model pbsm and a criterion for evaluating social media strategies.

Strategy development and corporate benefits: We use corporate benefits to define the success that the company can achieve through social media for its business model as a whole or for individual modules of the business model. Corporate benefits (social media level) are determined by the performance potential of social media and the social media affinity of the markets and the competitive situation in social media. The source is the benefit that we achieve through social media for the business model. To do this, we examine what social media can contribute to the individual components of the business model. We use the business model / business canvas according to Osterwalder & Pigneur as a basis for analyzing the business model.

The following table provides an overview of the modules of the potential-based strategy model pbsm. In all 5 modules, the company benefit is used as a design element or as a criterion for strategy decisions and strategy evaluation.

Social media strategy development in pbsm.

Based on our company goals and priorities, we decide which of the realizable company benefits of social media the company wants to exploit.

The strategy component company benefit ensures the economic benefit of a social media strategy because the benefit for the company from the social media strategy is defined in it and the strategy is derived from this benefit. This requirement results in tasks for the social media strategy in the form of effects – through the benefit for the company – on the individual strategy components.

Strategy component corporate benefit: As a strategy component, corporate benefit has the functions of

summarizing the various corporate benefits of the strategy in a visible and verifiable way.
defining the benefit of the strategy for the company to guide daily work.
securing the corporate benefit/benefit of the strategy for the company through requirements for other strategy components or content coordination.

The interrelationships between corporate benefit and the other strategy components make the effects of the content of other strategy components on corporate benefit visible. This makes it easier for us to recognize the effects of changes in a strategy component on the company’s benefit through social media. Checking the content of strategy components for negative and positive interactions is part of strategy development in the potential-based strategy model and at the same time a criterion for the quality of social media strategies. If we develop strategies with content whose interactions have not been checked, we run the risk that the content will negatively influence each other during implementation.

Social media strategy and company goals: Using the company benefit as a fixed and formative component of a social media strategy is a feature of the potential-based strategy model pbsm. The strategy component of company benefit defines the individual use of the performance potential of social media for the company in terms of content and secures it as a requirement for the design of the content of the social media strategy components. The most important decisions in a strategy are those in which we decide not to do something. By deriving the company benefit from company goals, the alignment of the social media strategy with the company strategy is secured and anchored in the day-to-day work in social media.

Examples of company benefits through social media

Reach: the company has its own reach in social media. This gives the company an independent information channel that generates benefits both on the cost side and through its impact (the company has extensive design options regarding content, scope, formats).
Social media resources: the company can increase its own impact in social media through the engagement/participation of social media users.
Market information: the company can generate information about the market through reactions from social media and through dialogue with users. This can be an assessment and evaluation of services, indications of needs that are not adequately covered by existing services or indications of a current, specific need.
Networking: the networking of social media users as part of customer loyalty contributes to a more intensive bond between users – through other users – and the platform, company, brand or services.
Attracting interested parties: through our own content, through user-generated content or through recommendations, we make social media users aware of offers and motivate them to contact us.
Benefit combinations: depending on which usage formats and user benefits the company uses in its strategy, different company benefits can be used in parallel and together.
Increase in value: the quality and quantity of customer relationships influence the value of a company. The company’s value benefits from increasing and strengthening customer relationships. For example, if a company benefit is produced in its own economic unit (such as a correspondingly designed community), this value can be viewed and used independently.

Pay attention to the potential for change in social media

When analyzing the business model, we work with the performance potential of social media for the business model and its modules in order to recognize what benefits social media can offer for the business model. It is not unlikely that in this analysis we will also come across a concrete potential for change in social media for parts of the business model or the business model itself. This finding is not only interesting for strategy development. In this case, inform the company management of this finding. It could be that this finding influences the development of the strategy.

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Training offer

The strategy training of social media managers is not sufficient in terms of scope and quality. To change this, I developed the potential-based strategy model pbsm, which enables even beginners to develop high-performance and, above all, competitive social media strategies. This method is taught in a free social media strategy course.

The free social media strategy course

Course content

Social media strategy requires not only competence in social media but also in strategy. And you can’t just acquire both in a relaxed afternoon. You lay the foundations for this competence with a compact course that is reduced to the essentials and that you complete online on your own. (If necessary, you can rely on support.)

The course includes more than 70 learning units. The pure reading time for the learning units is – depending on your reading speed – 20 to 25 hours. You should hardly allow more than 2 hours of reading time per day.
The course includes more than 200 practical exercises. The time required for this is much longer than the time spent reading the course content.

The course is therefore more of a course lasting several weeks – which you complete more or less independently – than a typical online course for the afternoon.

Completion

You can take the strategy course for free – without proof of qualification and support – or for a fee with the pbsm.strategist qualification. You can find out more about the pbsm.strategist qualification here.

Support

There are various ways to support your learning success in the course. You can find out more here.

pbsm.

Corporate benefits in the social media strategy