I hadn’t either, well, until earlier today when I attended a social media lunch and learn at Waterloo’s Accelerator Centre. Today’s speaker, Melissa Schenk from MS2 Productions, introduced us to the compass as we explored effective ways that businesses are leveraging social media outlets (Facebook, Twitter, LinkedIn) to connect with customers, peers and influencers, and how some have successfully made their customers true “brand ambassadors” of their company and it’s products and services through social media and viral marketing.

Solis is recognized as a leading-thinker when it comes to new media, and his compass serves as a true physical indicator that companies should consult as they define their social media strategy. Check it out using the link above and use the Social Marketing Compass to establish a solid social media direction for your company.

According to a survey called Social Media Without a Parachute from Digital Brand Expressions (DBE), companies are adopting social media with open arms. However, when it comes to strategic implementation of social media—efforts fall, well, a little flat.

The DBE study indicates that 78% of 100 surveyed companies say even though they actively use social media; just 41% employ their social media efforts as part of a strategic game plan.

Ouch!

Take a look at the full social media findings from the MarketingProfs article when it comes to which department is primarily responsible for social media, and what social media is being used to market.

It seems that Chris, someone who blogs daily and is pretty darn successful at it (he has 50K daily readers subscribe to his RSS blog feed), favors the side of blog post frequency. However, he also claims that he thinks of way more valuable and relevant ideas to write about than he has time for…kudos Chris!

So check out Chris Brogan’s formula for blogging…it’s definitely worth reading if you’re considering starting a blog.

In his talk, Brock spoke about the important steps to take and the tools to use before diving into social media implementation. Check out Wanda Eby’s post on Brock’s talk and discover his tips for creating a powerful B2B strategy, and also what’s worked for him! Oh and don’t forget to attend the next Business Development and Senior Sales peer-to-peer talks at Communitech. They are scheduled on the first Wednesday of every month!