Minnesota Municipal Beverage Association Newsletter
(February 10, 2012 - February 16, 2013)
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for the

As I See It...

Attention                              

 

I am in need of some attention; it seems you don't care about me as you did at one time.

 

Nothing seems to change; we are always the same. We have our daily routine; I grow tired of this.

You don't look at me the way that you did in the past. I am concerned about the seeming disinterest and apathy.

 

I remember when you had so much energy! There was a time when you held such high hopes for our bright future. There was nothing that we wouldn't do together. No idea was too outrageous, no challenge to great as long as we had each other.

 

We used to have friends. People stopped over all of the time. We were such a great couple! So many new friends; bright smiling faces! We relied on those people to rejuvenate us to keep our spirits high. We held great parties and our house was full. We came to rely on our new friends to bring us new life. We knew somehow that they would always be there.

 

Then it seemed fewer people stopped by, the newer faces were not as frequent. We were still the same! We struggled to figure out why we weren't receiving as many guests! What was wrong with those people? It couldn't be us. We were still the same as we had been.

 

The worst part of all was when you began to take me for granted. You were there every day but you were distant. I had been around for so long you assumed I would always be here. The signs of neglect were there for all to see but somehow you did not see them.

 

People had faith in you; you and I had been together forever, you would correct the problems. We drifted further apart, our relationship transitioned from love to neglect to disinterest to dislike.

 

Our decline was not your fault you surmised, there was little you could do. You felt you had done it all. You would not move on and allow me to flourish with someone new.

 

I am gone now. There is no longer a "we." All of the people that once relied on us for support must now look elsewhere because you were afraid to allow us to change. So many people relied on us and we let them down.

 

I am your liquor enterprise fund! Show me some love! As Paul would say, " Lead , follow or get out of the way!"

 

Gary Buysse

Rogers Liquor

New Study Reveals a Disconnect Between Companies' Understanding of Social Media and the Actions They are Taking to Apply it to Their Business

Social Media  

Less than a third of companies today use social media to support their corporate strategy and risk management practices, according to new research conducted by Stanford University.

 

In the report, the authors detail the results of a survey of more than 180 senior executives and corporate directors of North American public and private companies. The findings reveal a disconnect between companies' understanding of social media and the actions they are taking to apply it to their business.

 

"Companies appreciate the potential that social media can have to transform all aspects of their business: branding, reputation, communication, outreach, and identifying strategic risks," says Professor David F. Larcker of the Stanford Graduate School of Business and lead author of the study. "They also realize the serious threats that it can pose. They're just not doing very much about it."

 

"The world has changed, and consumers, employees, and stakeholders now expect to engage with companies and their brands through social media," says Matteo Tonello, managing director of corporate leadership at The Conference Board. "That is why we are so pleased to be partnering with Stanford to support this research and help our membership better understand these evolving platforms."

 

Conducted this summer, the survey included CEOs, senior executives, and directors across all major industries in the United States and Canada. Unlike most surveys on social media, which rely on a demographic of mostly young practitioners, the survey sample included only representatives from the highest levels of their respective organizations, with the average age of survey respondents in the mid-50s.

 

Key findings include:

 

While 90% of respondents claim to understand the impact that social media can have on their organization, only 32% of their companies monitor social media to detect risks to their business activities and 14% use metrics from social media to measure corporate performance.

  • Only 24% of senior managers and 8% of directors surveyed receive reports containing summary information and metrics from social media. Approximately half of the companies do not collect this information at all.
  • Nearly two-thirds of respondents (65%) use social media for personal purposes, and 63% for business purposes. Of those who use social media, 80% have a LinkedIn account and 68% have a Facebook account, demonstrating that executives and board members are familiar with this medium.
  • Still, only 59% of companies in the survey use social media to interact with customers, 49% to advertise, and 35% to research customers. Approximately 30% use social media to research competitors, research new products and services, or communicate with employees and other stakeholders.

"We know that executives and board members are using social media. However, familiarity with social media is just not translating into systemic use at their companies," Larcker explains. According to Larcker, the most frequently cited explanation for this gap is a lack of knowledge about how to set up a system to collect and distill information from social media into a useable form.

 

"The majority of those we surveyed don't have social media guidelines in place at their companies, haven't had a social media expert consult with their company, and don't have systems in place for gathering key information. They are putting themselves at serious risk by not taking action," Larcker concludes.

 

The study's authors recommend that companies take the following steps to implement a social media strategy that integrates with their corporate strategy and risk management program:

  1. Assess their current capabilities with social media
  2. Determine how social media fits with their strategy and business model
  3. Map their companies' key performance indicators and risk factors to information available through social media
  4. Implement a "listening" system to capture social media data and transform it into metrics
  5. Develop formal policies and guidelines for employees, executives, and directors
  6. Consider the legal and behavioral ramifications that could be involved if the company's board receives summary data about social media
  
Did You Hear About... 
Actor  
  
Did you hear about the Broadway actor who broke through the floorboards?
  
He was just going through a stage. 
Future Dates to Remember!!

 

 2013 MMBA Boot Camp 

 

February 19 & 20, 2013

Breezy Point Resort

 

Click Here for Details

 

2013 MMBA Annual Conference

 

May 18 - 21, 2013

Arrowwood Resort

Ask A Director

Gary Buysse
Rogers
763-428-0163

Cathy Pletta
Kasson
507-634-7618
  
Vicki Segerstrom
Milaca
320-983-6255
  
Brian Hachey
Stacy
651-462-2727

Nancy Drumsta
Delano
763-972-0578

Lara Smetana
Pine City
320-629-2020

Michael Friesen
Hawley
218-483-4747

Tom Agnes
Brooklyn Center
763-381-2349

Steve Grausam
Edina
952-903-5732

Toni Buchite
50 Lakes
218-763-2035

Brenda Visnovec
Lakeville 
952-985-4901
 
Bridgitte Konrad
North Branch
651-674-8113
  
Shelly Dillon
Callaway
218-375-4691
  
Karissa Kurth
Buffalo Lake
320-833-2321
 
Paul Kaspszak
MMBA
763-572-0222
1-866-938-3925

 
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