Webjam - Forget Technology: The Real Business Value of Enterprise Social Networks

Forget Technology: The Real Business Value of Enterprise Social NetworksLexie MendelsonStrategic Development Directorwww.webjam.com@webjamdotcom@lexielexie2bizdev@webjam.com

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What Is An EnterpriseSocial Network?

Enterprise Social Networks   Deﬁned  A set of technologies that create business value byconnecting the members of an organisation throughprofiles, updates, and notifications. Source: Altimeter Group•  But ESN’s are not simply Facebook behind a firewall•  Every enterprise has distinct needs and nuances that require a reframing of a social network Altimeter found that there are six elements of a socialnetwork that are similar — and yet different — between public and enterprise social networks

Public Social Network Enterprise Social Network similar to public networks but also who you are, where you went toPeople Profiles lists work-related associations & school, interests expertise (teams, projects, skills). business objects (client accounts, places and brands also haveObject Profiles documents, expense reports) also have identities and activity streams associated activity streams created by the person; can also similar, created by people interactingUpdates &   include chats, video, group with each other, as well as businessActivity Streams messaging and event planning objects and enterprise systems some updates may be required people can completely controlNotifications because of work associations, updates from whom they get updates from the CEO similar, but relationships may be two-way relationships as well as predetermined because of workRelationships one-way follow/subscribe, always associations (departments, team, controlled by the person project, location) employees understand that all updates the nature of relationships dictate can be seen by their employer, hence permissions; greater care must bePermissions & privacy becomes less of an issue; taken to ensure privatePrivacy permissions become a greater concern information stays within the right in terms of who has permission to see circles what information

What Is The True Value ofEnterprise Social Networks?Four Ways ESN’s Drive Business Value:•  Encourage Sharing•  Capture Knowledge•  Enable Action•  Empower people “It’s about relationships, not technology.”

Encourage Sharing•  Creates two-way dialogue•  Makes business personal•  Reduces power distance to leaders•  Connects globally, person by person•  Forms private groups

Capture Knowledge•  Identify expertise•  Avoid duplication and have better co-ordination•  Transfer/Retain knowledge•  Improve best practices

Enable Action •  Solve problems faster and better•  Bring outsiders in•  Streamline processes•  Shorten customer feedback

Empower People•  Give employees a voice•  Make meaningful contributions and innovations•  Increase engagement, satisfaction and retention

Top Three Implementation Pitfalls and How to Avoid ThemPain Point #1:Lack of Metrics Means Business Impact Goes UnmeasuredPain Point #2:Rapidly Developing Technology Platforms Create a Myriad ofConfusing OptionsPain Point #3:Integration Into Existing Platforms, Workflow, and AccessRemain a Barrier

Pain Point #1: Lack of Metrics MeansBusiness Impact Goes Unmeasured  •  Organisations admitted they generally do NOT measure ESN’s well and would like to see a great deal of improvements•  Only a third believe they measure ESN’s “somewhat well” while none felt they measured it “very well”.•  In fact, a quarter admitted that they did not use any metrics at all to gauge success of their ESN’s.•  With no concrete metrics in place with which to benchmark the ESN, companies found they had few ways to connect ESN behavior to business impact and value.•  With no concrete metrics in place with which to benchmark the ESN, companies found they had few ways to connect ESN behavior to business impact and value.

Top Metrics Measure Engagement Not Progress against Business  Goals

Most Organisations Admit  They Measure ESN’s Poorly

Pain Point #2: Rapidly Developing Technology Platforms Create a Myriad of Confusing Options •  From a technology viewpoint, the ESN space is still in its nascent stages•  Technology offerings tend to fall into three scenarios•  Technology is rapidly evolving

Pain Point #3: Integration Into ExistingPlatforms, Workﬂow, and Access  Remain a Barrier•  Managing platform proliferation: “Oh no, not another one!”•  Integrating into existing workflows•  Providing access to all employees

Creating an Enterprise Social  Network Action Plan For Your  Business1. Objectives•  Identify and prioritise the gaps that relationships can fill.•  Design your long-term goals for the ESN with purpose.•  Paint the path in gold.

Creating an Enterprise Social  Network Action Plan For Your  Business2. Metrics•  Measure gap-closing, not engagement.•  Track relationships, not conversations.

Creating an Enterprise Social  Network Action Plan For Your Business3. Relationship Management•  Budget, staff, and resource appropriately.•  Get executives involved.•  Foster transparency to create an open culture.•  Create incentives and rewards for participation.Especially powerful when the recognition comes fromsomeone unexpected - like an executive - and iswidespread throughout the organisation.

Creating an Enterprise Social  Network Action Plan For Your  Business4. Technology•  Choose your technology based on the relationships you want to build - not features.•  Prioritise technology options based on your objectives.•  Have simple guidelines in place.•  Deploy in partnership and in one department first.

How To Calculate Your OwnSocial Return On Investment   Web (Retention, users, PVs, conversions)   Social (Engagement, segmentation, activity index)   Brand (Keyword analysis, reputation, sentiment, ranking)

ROI of Employee CollaborationEmployees start new initiatives•  Assume that with improved collaboration you get new R&D teams•  10% of the R&D projects generate a value of £500,000•  Thanks to the collaboration solution 10% of the new teams will generate new value•  Assume 20 new projects are created that wouldn’t exist otherwise•  2 of them will create added value•  £1,000,000 added value is being createdEmployees can find information easier•  Average employee spends 20 minutes a day looking for info•  Average salary is £55,000•  Cost to company of 2,000 employees * £55,000 / 221 working days / (480/20) per day = £20,739 per day•  Thanks to the collaboration solution employees need 8 minutes less to find information.•  This would lead to a total cost reduction of £8,296 per day or £1,8 million per year

ROI of Employee CollaborationManagers will send less emails• Average manager spends 30 minutes a day answering emails to his team members• Average salary is £70,000 per year• Total cost to company with 300 managers: 300*£70,000 / 221 working days / (480/30) = £5,939 per day• Thanks to the collaboration solution managers need 10 minutes less to answer emails• This would lead to a total cost reduction of £1,980 per day or £437,500 per year

Enterprise Social Networks  Help Companies To Be…More EfficientCreate new communication channels throughself-managed groups to optimise information flows forknowledge sharing and talent finding…More InnovativeSurface employee ideas and innovation:transform your employees into your own marketresearch team identifying talent, new projects andideas, develop a collaborative environment…More OpenGive employees a voice and let them speak, listenand engage as a community by creating a moreopen and transparent environment. Successfulengagement often results in external brandadvocacy

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Appendix

Public Social Network Enterprise Social Network similar to public networks but also who you are, where you went toPeople Profiles lists work-related associations & school, interests expertise (teams, projects, skills). business objects (client accounts, places and brands also haveObject Profiles documents, expense reports) also have identities and activity streams associated activity streams created by the person; can also similar, created by people interactingUpdates &   include chats, video, group with each other, as well as businessActivity Streams messaging and event planning objects and enterprise systems some updates may be required people can completely controlNotifications because of work associations, updates from whom they get updates from the CEO similar, but relationships may be two-way relationships as well as predetermined because of workRelationships one-way follow/subscribe, always associations (departments, team, controlled by the person project, location) employees understand that all updates the nature of relationships dictate can be seen by their employer, hence permissions; greater care must bePermissions & privacy becomes less of an issue; taken to ensure privatePrivacy permissions become a greater concern information stays within the right in terms of who has permission to see circles what information

Scenario Why Pursue This PathStandalone Solution -can exist independently -can also be integrated into It’s fast, easy and cheap enterprise apps Most are developing integration APIsCollaboration  Collaboration platforms are already-tends to be one major social and in-house. ESN is a featureplatform in each that is easily ‘turned on.’organisationEnterprise Application  Add-On  While not inherently a collaboration-integration into critical platform, it can turn on or layer onenterprise apps  social technology to make them an ESN

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