After getting through the week 1 required material, the lesson that stands out to me is that technology and the internet is changing to become interactive instead of dictating. Every customer has a voice that can be heard by the world, so companies no longer have complete control over their brand equity. Companies listen to their customers and respond to them. The most successful corporate uses of social media are the uses that involve interactive communication with prospective and current customers.
Gary Vaynerchuk is someone that I have come across who made a very successful online wine business through social media in the mid 2000's. Here's an interview with him talking about how he did it: http://www.youtube.com/watch?v=YNM9kA1bSHk
He reiterates many of the concepts present in this week's reading: trust, transparency, interactive communication, etc. Another concept he mentions that resonates with this week's meeting is that eyeballs turn to cash. People's eyes are turning away from traditional media sources like tv and newspapers and looking toward personal electronic devices like smartphones and tablets. Companies who are one the forefront of this interactive movement are seeing success.
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