How to Think about Social
AICD Nexus Group
Contact:
walter.adamson@kinshipdigital.com
m: +61 403 345 632 @adamson
www.kins...
2
Social is Transformational
Social Strategy, including risks
The Social Executive (NEW)
Recommended Reading (NEW)
Social is transformational
Cloud + Mobile + Social + Local + Big Data (Predictive Analysis)
These disrupt legacy players a...
Banking
• “Technology prowess front and centre in CBA profit show” AFR 14 August 2013
• 6 years IT “transformation” – 10,0...
McKinsey Global Institute
Three key studies - Social Technologies in the Enterprise
Results by those companies successfull...
Talent Acquisition and Retention
Study of IBM clients using social technologies for HR
In particular for talent acquisitio...
Atlassian
• Rapid growth to $100m
• 22,000 customers
• $60m VC Investment
NO Sales team
• Passionate customers
• High advo...
Core areas of focus for ROI
6 patterns have been found across multiple global users:
1. Finding expertise
• Examples – acc...
How people buy is
changing faster than how
companies sell
9
Social means real people
Before the company brand was
everything.
Today, the individuals working in the
company are the au...
Dell invests heavily in social
1. Our IdeaStorm channel, launched in 2007, allows us to collaborate directly with our
cust...
An individual’s brand matters
Successful companies of the future
know that when employees understand
and apply their indiv...
Erica
IBM
Erica’s Twitter Account
Is not all business
Who is served by personal social presence?
• One of “most prolific local financial
market tweeters” (AFR Aug 26)
• Outboun...
16
Social Strategy, including risks
Social strategy
Social Media Risk
An employee, whose Facebook page identifies
him/her as working at your organisation posts on
his/her Fac...
Governance
1. Think opportunities not risks
2. Then risk management
3. Vulnerabilities, likelihood, mitigation
4. Add to s...
20
The Social CEO
Board Assessment
The Social Presence of the CEO
Being an effective CEO is about
leadership, employee and
market/customer engagement, and ab...
The Social CEO
The Social CEO understands that social technologies:
1. Allow you and your experts to be the voice of your ...
23
Recommended Reading
Recommended Reading
WHAT THE BOARD NEEDS TO KNOW ABOUT SOCIAL MEDIA RISKS
LEARN HOW TO MANAGE YOUR BRAND AND REPUTATION RI...
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How to Think About Social for Company Directors

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Presentation to the Australian Institute of Company Directors Melbourne Chapter Nexus Mentoring Group @aicdirectors about the transforming role of social computing, and in connection with cloud computing, mobile, local and big data. Emphasising the positive business potential in order that Directors correctly assess the risk rather than starting from a negative view of brand and reputation damage from social.

We discuss the transformational forces, the business benefits as established by McKinsey and IBM, the typical use cases, the transformation of sales and marketing, and the rise of experts as strong personal brands to be supported and encouraged by the company.

In response to the question How should a Board assess the social readiness of the CEO it offers a set of questions, and then some recommended reading.

Enjoy. Feedback to @adamson

Published in: Business, Technology

How to Think About Social for Company Directors

  1. 1. How to Think about Social AICD Nexus Group Contact: walter.adamson@kinshipdigital.com m: +61 403 345 632 @adamson www.kinshipdigital.com
  2. 2. 2 Social is Transformational Social Strategy, including risks The Social Executive (NEW) Recommended Reading (NEW)
  3. 3. Social is transformational Cloud + Mobile + Social + Local + Big Data (Predictive Analysis) These disrupt legacy players and segments by transforming the capital and operating economics, customer relationships and employee relationships. Monitoring social to prevent suicide: combines search technology with predictive analysis to estimate the suicide risk of an individual based on what they are posting on Facebook, Twitter or LinkedIn. Banking (means mobile):"Moven has approached the problem of the next-generation bank account in a truly unique way, creating a day-to-day tool to help users save money, rather than simply spend it like the typical debit cards you get from a mainstream bank today. Their focus on instant spending feedback and gamification of financial health is something that couldn’t readily be done with a traditional checking or current account." 3
  4. 4. Banking • “Technology prowess front and centre in CBA profit show” AFR 14 August 2013 • 6 years IT “transformation” – 10,000 person/years - $2b?? • 14m customers – 6,000 transactions / sec • ANZ “part-way” through $1.5b IT upgrade • NAB takes payment systems down after glitch • Moven - $10m investment, global reach • Facebook reaches 1.1billion people • 100% uptime, globally • 12m transactions / second • Updated every day, upgrade each week • 1/20th IT costs of AU banks • Greenest IT shop on the planet • Massive analytical PA engine 4
  5. 5. McKinsey Global Institute Three key studies - Social Technologies in the Enterprise Results by those companies successfully integrating social (comparative): • Marketing effectiveness UP 20% • Sales revenue UP 15% • Customer satisfaction UP 20% McKinsey also finds that by fully implementing social technologies, companies have an opportunity to raise the productivity of high-skill knowledge workers by 20 to 25% 1. Nov 2011 The social economy: Unlocking value and productivity through social technologies 2. July 2012 How social technologies are extending the organization 3. May 2013 Disruptive technologies: Advances that will transform life, business, and the global economy Recommended reading: May 2013 Ten IT-enabled business trends for the decade ahead Nov 2012 Capturing business value with social technologies
  6. 6. Talent Acquisition and Retention Study of IBM clients using social technologies for HR In particular for talent acquisition and retention • 30% faster new hire time-to-value • 20% increase in employee retention • 30% faster access to experts Sandy Carter IBM VP Social Business, July 15, 2013 http://socialbusinesssandy.com/2013/07/15/top-roi-use-cases-for-social/
  7. 7. Atlassian • Rapid growth to $100m • 22,000 customers • $60m VC Investment NO Sales team • Passionate customers • High advocacy • Low cost of acquisition • High trust in Atlassian experts Social sales builds authenticity 7
  8. 8. Core areas of focus for ROI 6 patterns have been found across multiple global users: 1. Finding expertise • Examples – accelerating responsiveness • Finding previously untapped information • Identify and target real experts 2. Knowledge sharing and innovation 3. Recruiting and onboarding 4. Mergers and acquisitions 5. Safety 6. External customer insights
  9. 9. How people buy is changing faster than how companies sell 9
  10. 10. Social means real people Before the company brand was everything. Today, the individuals working in the company are the authentic face of the brand, not the reverse. Employee's brands and their company's brands are inextricably linked. 10
  11. 11. Dell invests heavily in social 1. Our IdeaStorm channel, launched in 2007, allows us to collaborate directly with our customers online and has led to the implementation of more than 500 new product ideas. 2. Our Social Media Command Center, launched in 2010, has helped us monitor online conversations in real-time and more deeply understand and address our customer’s needs. 3. We’ve integrated social media into the sales and marketing functions of our organization, generating significant value across the entire customer lifecycle and have leveraged social insights to better understand broader market dynamics. NOTE the order, because the last is the hardest. Six years experience not to mention 7 years experience in on-line support communities. 11
  12. 12. An individual’s brand matters Successful companies of the future know that when employees understand and apply their individual brands to the company mission they create differentiation in the marketplace, build their constituent's trust, impact the bottom line, and win the game. 12
  13. 13. Erica IBM
  14. 14. Erica’s Twitter Account Is not all business
  15. 15. Who is served by personal social presence? • One of “most prolific local financial market tweeters” (AFR Aug 26) • Outbound daily newsletter • “Amazing tool” • Not just people who sit at banks • Really good indication of market • “Expand career” • “Lift company profile” 15
  16. 16. 16 Social Strategy, including risks
  17. 17. Social strategy
  18. 18. Social Media Risk An employee, whose Facebook page identifies him/her as working at your organisation posts on his/her Facebook page, which is visible to work colleagues, “Work sucks, I can’t stand it anymore.” Risk Management • Social Media Policy • Staff Training • Discipline & Termination Procedures An employee fails to secure their smartphone, or tablet computer. This is then accessed by an unauthorised third party who posts derogatory comments on your organisation’s Twitter account. Risk Management • Information Security Policy • Staff Training • Discipline & Termination Procedures 18
  19. 19. Governance 1. Think opportunities not risks 2. Then risk management 3. Vulnerabilities, likelihood, mitigation 4. Add to skills and processes 5. Link SMP to existing norms 6. Don’t loose sight of the big picture
  20. 20. 20 The Social CEO Board Assessment
  21. 21. The Social Presence of the CEO Being an effective CEO is about leadership, employee and market/customer engagement, and ability to transcend generation divisions. You can quite easily see that through their digital / social footprint. If they have no effective digital / social footprint then that says something in itself. 21
  22. 22. The Social CEO The Social CEO understands that social technologies: 1. Allow you and your experts to be the voice of your industry – globally; 2. Improve the day-to-day performance of the business e.g. customer support; 3. Transform customer relationships, employee relationships, and employee personal brands; 4. Attract and retain the best talent, at less cost; 5. Break down silos, increase transparency, and foster clarity of purpose; 6. Enable individual employees to build and apply their personal brand to positively support the company mission; 7. Are a catalyst for building trust across the organisation, its customers, suppliers, and investors; 8. Provide the means to deeply engage customers in product & service support, and innovation; 9. Have been proven to deliver these results, for many years, as verified by McKinsey and others. 10. Are a key player in the transformational five forces of cloud computing, mobile, social computing, localisation, and big data (predictive analysis); 22
  23. 23. 23 Recommended Reading
  24. 24. Recommended Reading WHAT THE BOARD NEEDS TO KNOW ABOUT SOCIAL MEDIA RISKS LEARN HOW TO MANAGE YOUR BRAND AND REPUTATION RISK BRAND BREADTH, HOW TO BUILD IT FOR CRISIS AND BRAND MANAGEMENT If any problems with these clickable links go to www.kinshipdigital.com Blog tab. 24
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