clients assess the governance model they have or need to have
to manage the risks of being both directly engaged in social
media, and providing guidance on the expectations of personal
use of social media across the workforce. Our people and change
practice is also beginning to see many more opportunities to
help organizations better manage the risk of workforce use of
social media through policy and training development.
cussed. When you factor in the needs to respond to market input
from that interaction, you see where moderation, retention and
governance around the management of the data brings a set of
considerations that goes beyond the opportunities listed above.
Consulting: How do consulting firms and practices develop social
media consulting offerings that resonate with clients?
Adams: At the same time, our customer growth and strategy
practice is helping companies more effectively compete by
using social media information to drive product development,
customer targeting and customer loyalty programs. Viewing
social media as an opportunity for real-time discussions and
research with customers gives marketers a powerful tool that
most companies have yet to take advantage of. We help with
the integration of social media data into the customer profile,
analyze that data to provide actionable insights, and utilize
theses insights to create a truly holistic digital strategy.
Consulting: Can you compare social media opportunity to other
recent opportunities, such as CRM, e-business or ERP?
Hair: While the similarities, such as requirements collection,
strategy design and vendor selection are clear, we see that the
core concept of market engagement and dialogue bring a new set
of criteria in this area. KPMG defines social media as online
media tools and channels that foster communication and conversation, not only delivering content, but also allowing interaction
and participation in the development of the content being dis-
Hair: We are finding that traditional skills in the areas of assessment or development of technology strategy, regulatory compliance frameworks, and complex risk management models are
highly relevant in these opportunities. KPMG’s long-standing
qualifications in these areas are key in helping clients with the creation of social media programs that deliver greater value while
mitigating the risks that come with digital market interaction.
Consulting: Describe an engagement that involves social-media; also, what types of client-side titles typically are involved
in these engagements?
Krishna: Social media governance engagements, for example,
involve looking at the risks to the organization of being engaged
in social media. In these engagements, we typically have participation from CIOs, CMOs, heads of HR, legal, compliance
officers (especially for more heavily regulated industries) and
chief audit executives.
Read more on Social Media and its consulting opportunities
in this issue’s Cover Story beginning on Page 10.
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