Social media: what’s in it for retail?

My colleague and yBC founder Mark Sinclair recently spent a very interesting couple of hours speaking to a breakfast meeting of high-end retailers about social media opportunities. They came to the topic with little information but plenty of curiosity. His job was to answer that all-important question, what’s in it for me?
The answer, we believe, is plenty. Social media gives retailers the opportunity to keep in touch with customers on a scalable 1:1 basis, earning loyalty by emulating the personalised, corner shop experience.
The fact that social media contributes directly to the business end of their sales was a real attention-getter for many in my audience. The fact is that the business-as-usual thinking that has got you through the past ten years isn’t going to get you through the next. The reality of this inspired us to put together this presentation to explain why common objections to social media aren’t valid.
If you’re interested to see Mark’s original message for the retailers about how social media is changing their business, you can see the presentation on Slideshare here.
As always, I’m very interested to hear what you think. Does what I’m saying make sense to you?