Social Media Readiness

The world of business is a rather rocky one, yesterday we were all shocked with the news HMV had gone into administration, weeks after Jessops had gone bankrupt as well.

It seems that for businesses that have been around longer it is more difficult to adapt to change, HMV, Jessops and Comet all have been around for more than 50 years.

In these 50 years, much has changed surrounding how people do business and where they do business. The digital age has begun a while ago, some have adapted to it but others are still playing catch up.

Most businesses are already using Social Media for their advantage, however, only some of them actually have given their customers another medium of communication. The error in the other percentage of businesses is to use Social Media purely to advertise their products and services and ignore customer services and complaint handling.

Today we will be comparing the Social Footprint of all these 3 companies that have fallen recently and try and identify any trends that may explain why they have not been able to keep up with their competitors.

As shown, in the same period of time, Jessops had a higher presence within Social Media. The next stage would be to determine whether this is a positive or negative presence which requires analysing all the mentions in much deeper detail.

What can be deducted from these results however is that the presence is there, it isn’t huge when compared to others but it is there. When looking at the popularity graph at the bottom, there is only one spike which relates to Jessops. Unfortunately, this is solely around the news of it going into administration.

This graph answers all the questions we asked in this article. The fact that there aren’t many spikes in the graph means that people weren’t engaging much with the brand and the brand itself wasn’t making that much of an effort to create a community.

What do you think? Do you agree?

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Keeping It Online

The online world has been growing and growing in the last couple of years, mostly in the last 2 years and now it is starting to take a toll on many businesses.

Yesterday we spoke of how Comet failed to adapt to the ever turning wheel of change and how Currys/PCWorld is following the same path, did you agree with our article?

HMV has been the latest victim of the ever growing competition for customers in the online space, with the giant Amazon leading this space. So where has HMV gone wrong?

Being around for roughly 90 years, it has faced a lot of change along its journey. This varied from introduction of computers into business and laws, but one change that could have made a big difference was to create and deploy a Social Media strategy and increase their online presence.

With the Ebays and Amazons being so diverse, a business can’t afford to delay their movement online as catching up with some of the long-time online occupants will always prove to be a great challenge and the sooner it is taken on, the sooner it can be overcome.

We have analysed all mentions on the Social Web in the whole of last year regarding HMV and have found it to be minimal when you compare it to the likes of Amazon. Negative comments were not being resolved or responded to which allowed these to remain in the public space causing further damage behind the scenes.

We have learned that unresolved negative comments made by the public usually result in loss of current customers and it presents an obstacle when it comes to acquiring new customers.

As you can see below, activity isn’t extreme and like we said yesterday, presence sometimes isn’t enough. When you don’t use your online presence to please and help your customers then your presence is worth the same as no presence at all.Image