Social Media at Work Tim Wright @twintangibles Think Digital 2012 #thinkdigital 20th March 2012Contact us +44(0)7717714595 www.twintangibles.co.uk email@example.com
The Contention• Social technologies are here to stay• This changes has profound implications to the way we do business• Change is happening now• This presents opportunities• Those opportunities run much wider than marketing• You should be thinking about it!
The Change• The annual British Internet Habits survey showed that in 2011, 57% of over-16s in the UK are using the internet for social networking, as opposed to 43% in 2010.• Using Social Networks • 91% 16-24 year olds • 76% 25-34 year olds • 58% 35-44 year olds • 42% 45-54 year olds • 30% 55-64 year olds • 18% 65+ Office of National Statistics – British Internet Habits
Corporate Access • 76% of firms surveyed had a corporate social media presence while 95% of employees use social media channels for personal and/or work related activities1 • Fewer than 30 percent of large organizations will block employee access to social media sites by 2014. • The number of organizations blocking access to all social media is dropping by around 10 percent a year.2Source 1: DLA Piper Knowing your tweet from your trend: keeping pace with social media in the workplace 2011*250+ employees and revenues of greater than £30m, all carried out during June 2011.Source 2: Gartnerhttp://www.missioncriticalmagazine.com/articles/84775-gartner-says-fewer-than-30-percent-of-large-organizations-will-block-social-media-by-2014
Being Social“It is a mindset of sharing, openness, collaboration and communication that is facilitated by technical tools that provide for many to many non mediated exchange”
PopularityValue The Long Tail Quantity Products
Expectation of Return Coase’s Penguin – Yochai Benkler“For decades our understanding of economicproduction has been that individuals order theirproductive activities in one of two ways: eitheras employees in firms, following the directionsof managers, or as individuals in markets,following price signals.In the past three or four years, public attentionhas focused on …the emergence of a vibrant,innovative and productive collaboration, whoseparticipants are not organized in firms and donot choose their projects in response to pricesignals.” Source: http://www.benkler.org/CoasesPenguin.html
So What? Your Staff, Clients, Customers, Partners and Suppliers will all expectyou to be social, use the tools and honour the principles.
We will look at• Crowdsourcing• Crowdfunding• Social Customer Care• Open Leadership
Social Customer Care •Payback •Marketing •Support •App developmentFounded 2009Giffgaff enables members to earn points that can be exchanged for money, which isredeemed in one of three ways:•airtime credit,•as cash which is sent directly to a PayPal account, or as a donation sent to acommunity-nominated charity, the value of which is matched by Giffgaff.Each point is worth one penny; these are redeemed every six months, on 15 Juneand 15 December.The first payback was made on 15 June 2010 and on the most recent payback inDecember 2011 Giffgaff paid out over £700,000 to its customers.
Crowdfunding “Crowdfunding is a method of raising capital, or resources, by collecting together lots of small amounts from a large number of people generally using the Internet and social media.”•Market testing Kickstarter 2011•Distributed cognition Launched projects 27,086•Not just cash •Successful projects 11,836•Small sums quickly available •$ pledged 99,344,382•Brand advocates•Expectation of return
Crowdfunding •Raised £75,000 using Crowdcube •15 per cent equity in the business. •Eighty-two investors each contributed between £10 and £7,500Founded Sue ActonInitial Funding: Self, Friend and angel funded
Crowdsourcing “Crowdsourcing is a distributed problem-solving and production process that involves outsourcing tasks to a network of people, also known as the crowd. The difference between crowdsourcing and ordinary outsourcing is that a task or problem is outsourced to an undefined public rather than a specific other body.”•Quicker to market “It is a shift away from subject•Cheaper matter experts and toward subject•More acceptable to market matter networks.”•Draw on distributed cognition Harold Jarche•Emergent and customer driven
Open Leadership GREATER OPENNESS IS INEVITABLE“As your customers and employees become more adept at using social andother emerging technologies, they will push you to be more open, urging youto let go in ways in which you may not be comfortable.”Charlene LiSource: Charlene Li – Open Leadership
•Creates two-way dialog •Makes business personal Encourage Sharing •Reduces power distance to leaders •Connects globally, person by person •Forms private groups •Identify expertise Capture Knowledge •Avoid duplication and have better coordination •Transfer knowledge •Improve best practices •Solve problems faster and better Enable Action •Bring outsiders in •Streamline processes •Give employees a voice Empower People •Make meaningful contributions and innovations •Increase engagement, satisfaction, and retentionSource: “Making the Case For Enterprise Social Networks”. Altimeter Group February 2012
Outcomes for Deloitte•We have developed new products using social media platformswhich now drive revenue.•We have made tangible improvements to our business fromharnessing the collective wisdom of our people.•We have engaged 4500 people in the process of building amarketing strategy•We have used social media to blitz the competition•Professionals with 10 or more posts on Yammer have an averageturnover rate of 2%, compared to a firm-wide average of 15-20%. Source: Social media at Deloitte Participation, communication, transformation May 2010
CreateTransform Disruptors Value Chain InnovatorsImprove Optimizers Customer Value Proposition Enhance Extend Invent Source: IBM Institute for Business Value analysis, 2012
Tim Wrightwww.firstname.lastname@example.org@twintangibles+44 (0)7717 714 595