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A Social Strategy: How We Profit from Social Media, by Mikolaj Jan Piskorski
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Almost no one had heard of social media a decade ago, but today websites such as Facebook, Twitter, and LinkedIn have more than 1 billion users and account for almost 25 percent of Internet use. Practically overnight, social media seems indispensable to our lives--from friendship and dating to news and business.
What makes social media so different from traditional media? Answering that question is the key to making social media work for any business, argues MikoĊaj Jan Piskorski, one of the world's leading experts on the business of social media. In A Social Strategy, he provides the most convincing answer yet, one backed by original research, data, and case studies from companies such as Nike and American Express.
Drawing on his analysis of proprietary data from social media sites, Piskorski argues that the secret of successful ones is that they allow people to fulfill social needs that either can't be met offline or can be met only at much greater cost. This insight provides the key to how companies can leverage social platforms to create a sustainable competitive advantage. Companies need to help people interact with each other before they will promote products to their friends or help companies in other ways. Done right, a company's social media should benefit customers and the firm. Piskorski calls this "a social strategy," and he describes how companies such as Yelp and Zynga have done it.
Groundbreaking and important, A Social Strategy provides not only a story- and data-driven explanation for the explosion of social media but also an invaluable, concrete road map for any company that wants to tap the marketing potential of this remarkable phenomenon.
- Sales Rank: #961197 in Books
- Published on: 2014-05-25
- Original language: English
- Number of items: 1
- Dimensions: 9.75" h x 6.75" w x 1.25" l, 1.26 pounds
- Binding: Hardcover
- 288 pages
Review
Awards
- Axiom Business Book Awards: GOLD Medal in the Social Networking category
Winner of the 2015 Gold Medal in Networking, Axiom Business Book Awards
"Piskorski's thought-provoking and well-researched title is ground-breaking and should be required reading for those in business, and business faculty and students."--Lucy Heckman, Library Journal (starred review)
"For companies that are struggling to measure social media, Piskorski offers a different way of looking at the problem, and his three tests--the social utility test, the social solution test and the business value test--provide a way to check if a project is working."--Maija Palmer, Financial Times
"Whoever thinks using social media successfully (i.e., making money from it) is easy needs to think again. So do people who think it's all one big fad or that creating a successful social media campaign is just blind luck. And that's where Mikolaj Jan Piskorski and his book A Social Strategy: How We Profit from Social Media come in."--Catherine Ramsdell, PopMatters
"A highly informative and insightful analysis of web-based social platforms that should command the attention of sociologists, psychologists and lay readers as well as bottom-line businessmen and women."--Glenn C. Altschuler, Psychology Today
"Thanks to Mikolaj Jan Piskorski and his new book, companies now have a clear strategic framework for figuring out how to tap into their power."--Theodore Kinney, Strategy + Business
"The author's research offers new insights into the reasons for the explosion of social media."--Choice
"The beauty of this book is that it is not only informative to scholars, but also applicable for business practitioners."--Yongsheng Wang, International Social Science Review
"Social platforms are here to stay, and companies that successfully leverage these platforms as part of their social strategy are more likely to achieve competitive advantage. Empirical research is needed to establish specific mechanisms behind these processes and their outcomes. Piskorski's book provides a fruitful conceptual foundation for such research."--Olga Khessina, Administrative Science Quarterly
From the Inside Flap
"A Social Strategy is a remarkable book--perhaps the first truly comprehensive examination of one of the transformative phenomena of our time: the emergence of the social web. Broad in reach and appeal, it will interest readers who want to think about web-based social platforms in a new light and gain new insights about social media."--Toby Stuart, Haas School of Business, University of California, Berkeley
"Piskorski accessed Silicon Valley's storied social media firms and has returned with the keys to the kingdom for understanding what makes 'social web strategies' the real killer app behind social media. Anyone who wants to enhance the user experience must read this book."--Brian Uzzi, Kellogg School of Management, Northwestern University
"Rich in analysis and information, A Social Strategy provides a timely and very insightful view about why some social media platforms succeed and others fail--and why some digital marketing strategies do better than others. The book's arguments are supported by an impressive array of quantitative and qualitative evidence and its ideas have the potential to become central to understanding social media."--Martin Gargiulo, INSEAD Asia
From the Back Cover
"Piskorski accessed Silicon Valley's storied social media firms and has returned with the keys to the kingdom for understanding what makes 'social web strategies' the real killer app behind social media. Anyone who wants to enhance the user experience must read this book."--Brian Uzzi, Kellogg School of Management, Northwestern University
"A Social Strategy is a remarkable book--perhaps the first truly comprehensive examination of one of the transformative phenomena of our time: the emergence of the social web. Broad in reach and appeal, it will interest readers who want to think about web-based social platforms in a new light and gain new insights about social media."--Toby Stuart, Haas School of Business, University of California, Berkeley
"Rich in analysis and information, A Social Strategy provides a timely and very insightful view about why some social media platforms succeed and others fail--and why some digital marketing strategies do better than others. The book's arguments are supported by an impressive array of quantitative and qualitative evidence and its ideas have the potential to become central to understanding social media."--Martin Gargiulo, INSEAD Asia
Most helpful customer reviews
0 of 0 people found the following review helpful.
This is a good book if you're an academic
By JavaJnky
This is a good book if you're an academic. The author really means how we, society, profit, benefit, from social media. If you're a business actually looking to profit from social media, this is not the book for you.
11 of 11 people found the following review helpful.
A Great Read to Truly Understand How to Use Social Media from a Business Perspective
By J. Camargo
I was interested in this book because I wanted to see how the author analyzed why many companies talk about social media presence yet very few of them get any economic benefit from their strategies. As a marketer, I was tired of hearing how Facebook likes and impressions were an example of a successful campaign, only to be disappointed when demanding data to prove that these results correlated with lower customer acquisition costs or revenue increases. I'm glad this book explains why I'm not alone. There are countless books on the power of social media, but very few explain how to profit from its use and, more importantly, how to use it as a competitive advantage.
The first part of the book describes the different types of social platforms and how each one of them meets different social needs. I found the concept of social failure extremely powerful to consider when analyzing and developing social platforms that create solutions for such failures, This part is a good read for those who believe that buying Facebook and.or Twitter ads will lead to increases in sales, only to struggle to show the economic benefits of such activities. As tempting as it was to skip to the part that talked about social strategies, I recommend to those who get the book to not do so in order to truly understand how social solutions work and why the ones the author mentions are successful in their own way. This section also distinguishes between a digital strategy and a social strategy, a key difference that very few grasp and can lead to disappointing results.
The second part of the book then analyzes different social strategies that meet different customer needs and, more importantly, how are firms extracting an economic benefit from their social products. The author mentions several examples, my favorites being American Express' design of social solutions to improve its bottom line (more transactions and applications) and Yelp's choice to reward super users instead of paying reviewers to create high quality content. Finally, the author goes through the process of creating a social strategy by analyzing the work done by the Harvard Business Review and by an unnamed credit card company
Overall, a compelling read and one I recommend to managers and marketers who want to better understand the potential impact of social media's economic benefits. I rented the Kindle edition, but the content was so good that I'll buy it just to keep referring to it on a regular basis.
4 of 4 people found the following review helpful.
Awesome Book for Anyone Interested in Effective Digital Marketing
By Robert R
Amazing read. We all use social media on a daily basis, but there are few companies that have truly figured out how to use it effectively to grow and sustain their business. So often companies employ a digital strategy that broadcasts a message or campaign, but they do not engage the consumer in an effective way.
This book takes on the emerging and complex world of social networks, and explains not only their origin and benefits to the consumer, but how companies can use social networks to their benefit. Piskorski's use of case studies not only shows how to effectively go beyond a digital strategy to create a truly social strategy, but it does so in a specific, tangible way.
This is a perfect book for any general manager or marketer who is interested in using digital to drive their business.
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