Jim Mansfield, Vice President of Digital Marketing and Emerging Media at Wells Fargo, and John Terrana, Vice President of Media Solutions at SocialCode, discussed social media and its impact on today's marketers during a Thought Leadership Spotlight Presented by SocialCode at the 2015 Chief Marketing Officer Leadership Forum: Fall Event in San Francisco on Nov. 10. In their presentation, "Achieving Business Results on Social Media Platforms," the pair described what it takes for an organization to leverage social media, and ultimately, drive long-lasting results.
According to Mansfield, social media can be challenging because an organization must create messages that reach large audiences across the globe. In addition, he pointed out social networks have restrictions, particularly in well-regulated industries like finance. As such, today's marketers must leverage data from social networks to learn about and connect with their target audiences consistently, Mansfield said: "We can target people in so many different ways on these platforms that we couldn’t before. Just take an example of students. There are very few places where students go out and raise their hand and say, 'Hello, I’m a student. I’m in college,' but it’s all over their social media profiles. You go to Facebook, you can identify students very easily. There are a lot of things that social really helps us do well."
Terrana also noted social networks offer tremendous scalability. And as a result, he said, social networks provide organizations with myriad data they can use to improve their customer interactions: "I think that social’s in this super unique spot because of the tremendous amount of scale, and with scale brings us the opportunity to be efficient and drive performance. Then with tremendous amounts of data around audiences and real people, it gives us the opportunity to learn and learn really quickly about our customers and prospects."