#1 in a series of posts based on a study by The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, not commissioned by any business, government, or other institution.

Topline View:
After reading the McKinsey study showing me what looks like an anti-evolutionists’ stubborn refusal to utilize social media in the face of hard data, I see a basic choice for businesses: They can choose to meet customer expectations TO CONNECT WITH THEM. Or choose NOT TO CONNECT (and thus lose the proven, measurable benefits of social media.)

It is not a matter of re-channeling customers to traditional “safer, more comfortable” (for whom?) means of contact. It’s not a matter of “not now, let’s wait and see.”
It’s a matter of LOSING.
Losing CONTACT = losing sales, losing revenue and losing brand value in this scenario being played out by the smartest men and women in the room. Is this loss of contact what C-suites, boards (BODs) and shareholders want? Of course not.

Yet they freeze up and face the risk of being crushed. What are BODs thinking when they think about archaic policy of operationally ignoring customer expectations via social media? Do they buy into narrow, personal-behavior arguments and anecdotal-heavy fears of “security, privacy and viral-negativity risks” that negate connecting with customers that advance sales pipeline conversations, conversions, sales, revenue growth and increased brand value?
‘No’ and ‘Not Now” decisions diminish, possibly fatally, a CMO and marketing dept’s service to and relationship with Sales. Most alarmingly, “No Social Media” (or minimal lip-service levels of social media) delivers a deathblow to search engine marketing, prohibiting the indexing of a company for the purpose of CONNECTING WITH CUSTOMERS TO MAKE A SALE.


Seth Godin’s blog post, “First, connect” identifies the Internet as a Connection Machine. Godin makes the point that “Virtually every single popular web project (eBay, Facebook, chat, email, forums, etc.) exists to create connections between humans that were difficult or impossible to do before the web. When you tell us about your business or non-profit or public works project, tell us first how it’s going to help us connect. The rest will take care of itself.”

#1 in a series of posts based on a study by The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, not commissioned by any business, government, or other institution.

Latest Update: Jun 05, 2016