WHAT DID I LEARN – From HBR IdeaCast “Defeat Criticism Before It Goes Viral”
Howdy viewership, this is my first post at Network of Ideas (would you say we’re Huffington Post-like?)
I was listening to podcasts on my way up to LA from San Diego and heard a short blurb on how companies ought to deal with social media and establish specific policies around them. Specifically, how companies ought to be careful how to react to negative commentary on the social web, and vice versa – how to reward positive sentiment. One anecdote that was given surrounded a woman getting sued by her landlord for her tweet on the poor conditions of her apartment. The woman had barely 20 followers, but what happens when large companies like United Airlines get involved and the hashtags are viral? Companies like Twitter and the mass adoption of Web 2.0 in general have propelled a change in the way that businesses are run, on a fundamental level.
1) the Wikinomics/Community aspect brings an unprecedented level of transparency to companies – where contributors are just as likely to be consumers as well
2) Companies like Twitter have given consumers new power over corporate responsibility and behavior
Now, WHY THIS IS SIGNIFICANT:
The newspaper and music industries are the largest areas to suffer from the business model adaptability problem. The Huffington Posts of the world are directly impacting entire industries, and the Yelps and Foursquares are going to impact local business revenues, the $. How do businesses adapt, and what changes will these bring? And mind you, the blind adoption of Twitter and Facebook fan pages are not the answer.