All global companies are faced with the same conundrum of having to choose between multitudes of emerging technologies and businesses to invest in. Social media is often just one opportunity among many. This problem is especially true for a large cable TV company we interviewed that is only now investing in growth outside of the U.S.
Since the company’s business is much more developed in the U.S. – it has stable TV distribution in the U.S. and benefits from a strong economy – it can experiment much more at home with social media than in other regions. The company also has very popular websites for its TV channels, with millions of unique visitors on many social media platforms.
This company sees social media as a complement to its core, rather than as a profit center. This media company used social media as a way to help it get closer to consumers. Although the company invests in social media in regions of the world where audiences are growing, these investments have to be balanced with investments in video on demand and other digital platforms. In addition, it requires a lot of energy in non-English speaking territories to get social media going. The company often uses partners in these areas.
Resources are the biggest constraint. The company is playing catch-up in regions outside the U.S. It needs to prioritize where it can make money and can’t justify spending as much outside the U.S. for the return it is getting.
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Social Media Spending and Staff Sizes Vary Greatly by Region