Business in a Networked World

A Look at Business in a Networked World of the Interactive Web
Richard Binhammer, Social Media and Community
June 21, 2011, The Corporate Social Media Summit

Traditionally, Business and Technology: aimed to deliver efficient organization of work through specialization of labor 1776, Adam Smith, Wealth of Nations
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Markets always were about conversations?
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Business Always Succeeded and Grew based on word of mouth
… more so with the social Web

Internet: Unlike other technologies, the Web was unpredictable; opened more opportunities to change perspectives anywhere it reached
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Today, Interactive Web:First time in history, technology at home has evolved faster than for business becoming so pervasive that business is catching up to consumer expectations about connectivity, ease of use and how to use
Source: Mary Meeker, 2010 Internet Trends

If Markets are Conversations…
“Networked markets are beginning to self-organize faster than the companies that have traditionally served them. Thanks to the web, markets are becoming better informed, smarter, and more demanding of qualities missing from most business organizations. Markets are conversations. Markets consist of human beings, not demographic sectors. Conversations among human beings sound human. They are conducted in a human voice, Whether delivering information, opinions, perspectives, dissenting arguments or humorous asides, the human voice is typically open, natural, uncontrived.”
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Source: Cluetrain Manifesto

…..But (Social Media) Conversations are Not Just Marketing
In both internetworked markets and among intranetworked employees, people are speaking to each other in a powerful new way.
These networked conversations are enabling powerful new forms of social organization and knowledge exchange to emerge.
As a result, markets are getting smarter, more informed, more organized. (not siloed or segmented the way we normally think)
Participation in a networked market changes people fundamentally.
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The world around us is changing
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Control
is not as successful
as influence
companies that embrace this the fastest will win
Disintermediation between the customer and the expert is happening already
Users spending moretime across the web engaging –beyond company’s website
Customerstrust their peers more than anyone else
Traditional methods are not scaling; Does Social Media?

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Five years of experiments and experience
December 2006Ratings and reviews on Dell.com
October 2007Michael Dell quote in Business Week
Jeff Jarvis story quote, “These conversations are going to occur whether you like it or not. Do you want to be part of that or not? My argument is you absolutely do. You can learn from them. You can improve your reaction time. And you can be a better company by listening and being involved in that conversation.”
May 2008Dell Outlet achieves $0.5M in sales via TwitterCommunity team active on TwitterSmall Business blog launched
June 2009Global Twitter revenues of $6.5 M
Dell named #1 most social brand in ranking of 100 top brands
February 2006Michael Dell Asks
Why don’t we reach out and help bloggers with tech support issues?
August 2006Blog outreach expands beyond tech support
March 2008Accepted Solutions launched on Community Dell France begins Online Community Outreach
March 2010China Micro-Blogging
February 2007IdeaStorm Launched
A voting based site allowing customers and others to submit ideas for Dell.
January 2009Dell Organizes in to4 customer focused business units
June 2009$2M+ Salesvia Twitter
Social Media Listening
Command Center
2006
2007
2008
2009
2010
2011
Dell Social Media and Community University launched/5,000 teammembers trained byend of year(Aug.)
July 2006Direct2Dell launchedToday Direct2Dell exists in English, Spanish, Norwegian, Japanese and Chinese.
June 2007Dell joins Twitter
Dell launchesEmployeeStormInternal Blogs Launched for Employees.
April 2008Inside IT launchedBlog focused on business customers, and Cloud Computing.
2009Dell TechCenter
January 2008Dell aligns organization for success
Altimeter recognizes Dell with “Open Leadership Award for Innovation and Execution”(Oct.)
Spring 2009Some Members of Community and Conversations deployed within each of the new Dell Business units
December 2009Huffington Post Blog
DelllaunchesB2B pagesFacebook(Jun.)
April 2006Techsupport outreach to blogs
January 2007StudioDell launched
Dell’s video and podcast site, with helpful tips and tricks. Eventually expanding this into the YouTube channel making sharing easier.
February 2008Twitter expanded
November 2007DellShares launched
The first investor relations blog by a public company.
June 2008Channel blog launched

Recognizing & Aligning a Powerful Ecosystem
Dell.com
Our Communities
External Communities
Team Members
Confidential
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12
Confidential
3/21/2011
Listening to Be A Better Business, Across the Business
From 4,000 posts/day to 26,000 posts/day

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Don’t Look, Listen or Touch This is not a strategy that works.

Listen, Engage, Act. It’s at the heart of all strategies…But How to Scale?
Think of it as a tool,
not a channel

Campaigns Scale, but are capital intensive.You can not buy fans & followers for life …

A Tool to be Leveraged Across the Fabric of a Company: different functions, uses and values
Product Development
Feedback Loop
Early Warning
New Product Ideation
Marketing
Demand Forecast
Lead Generation
Message Reach
Online Presence
Ratings & Reviews
Communities
Customer Stories
Sales
Leads
Collaboration
Thought Leadership
Blogs
Customer Service
Listening
Support Widgets
Outreach
Communication
Rich Media
Brand Reputation
Influence
Reputation

Customer Centricity:Inform and Drive Every Part of the BusinessThe Social Radio for All Employees
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Empowering Employees: Social Media & Community University
Principles
Policy
Governance
Training & tools

Starting Down a New Road, in a Vehicle, yet to be provenEven today, the Infrastructure is evolving
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Authority
Exchange
Community

Lesson: Yes Virginia, there is ROI. It is measurable in many forms, there is not 1 number …

Making Businesses Less Machine and more Networked Organism?A Human Organization
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Thank You

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Business in a Networked World

by Richard Binhammer

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