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Relationship Economics: How Social Media Improves Relationships and the Bottom Line #ROI
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Relationship Economics: How Social Media Improves Relationships and the Bottom Line #ROI

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The future of business is social and collaborative. Relationships with customers and employees matter more than ever. LinkedIn and Altimeter Group's study found that when businesses empower people …

The future of business is social and collaborative. Relationships with customers and employees matter more than ever. LinkedIn and Altimeter Group's study found that when businesses empower people with information, trust and relevant content – engagement and sharing become powerful economic engines.

Also includes a list of the "Top 25 Most Socially Engaged Companies"

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  • Thanks, Brian, for distilling these insights. As chief digital ventriloquist for several FG500 clients, I have seen $M improvements in talent acquisition and engagement, revenue generation and customer lifetime value, directly attributed to social engagement. That's right, I said directly. Not inferentially. Causally linked. I not surprised. I have made $M deals based on social selling and social-enhanced relationship building networking, dating back to 2005. I have also been hired, made hires, helped clients own their marketspace share of voice, measurably enhance reputation, mitigate brand crises, and more. To anyone still tiptoeing around the edges of a social media dalliance: jump.
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  • It seems like social media enhances connectivity but does it really enhance depth of relationships?
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  • I think the C Suite need to trust the connected generation so that the connected generation feel empowered to act on their sense of purpose and how that sense of purpose connects to the brand they represent on a day-to-day basis. The social conversation is powerful and can easily humanise the brand and its offering across an audience that was unreachable in years gone by. The slideshare brought to mind a presentation that I recently delivered on trusting the employee. In that presentation I make the point that we trust the employee with business cards that get handed out at bars and restaurants. We now need to give them the rights to command access to the digital business card that lies in social and allow them to do what they do best - represent the brand with their sense of purpose and win work by winning relationships ahead of those companies that are too nervous to ENGAGE because they do not understand WTF of business is all about. https://www.youtube.com/watch?v=6DKhptIXeBY
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  • 40% more likely to be perceived as more competitive is huge! The related factors that naturally flow from this make social huge for individuals and companies!
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  • 1. Social media has democratized information and communication, leveling the playing field in how people share and consume information. In a social economy, businesses that aim beyond transactional engagement and invest in community and relationships are gaining attention and affinity. Relationship Economics is the value of a company’s social media engagement. Read on to learn how companies and executives that invest in relationships will reap competitive advantages. Engaged workers are the lifeblood of their organizations. Now more than ever, investing in employee relationships is essential, offering them a competitive advantage. Based on billions of signals and insights2 we have identified the 25 companies who are the most engaged on LinkedIn to leverage relationships with employees and customers. When compared to those at companies that are not socially active, executives at Socially Engaged Companies are: Employee engagement is at an all-time low Relationship Economics begins with employees. Businesses that invest in employee relationships value: LinkedIn Introduces the Top 25 Socially Engaged Companies Employee engagement is critical According to a recent Gallup survey:1 Experiences LoyaltyProfitability Advocacy People Aspirations As a result, relationship economics can yield real-world business results: Executives lead the way and set the standard for engagement Employees feel empowered and inspired Social media engagement stimulates competition more likely to be perceived as more competitive more likely to get increased sales leads more likely to attract top talent Employees at Socially Engaged Companies are: Socially Engaged Companies are more likely to drive greater lead generation, cultivate innovation and yield top talent. In this area, Socially Engaged Companies are: LinkedIn and Altimeter surfaced insights into which companies are the most socially engaged across talent and recruitment, the most influential with content marketing and the most active in social selling. Analysts also weighed employee engagement through member actions such as viewing employee profiles, engaging in network conversation, visiting company pages and following companies. LinkedIn and Altimeter Group conducted an online survey of two employee groups about their participation on the platform: a "target" (N=1,460) and a "control" (N=1,378) group. The target group respondents were from the top 100 most socially engaged companies on LinkedIn. The control group respondents were from the general user base of employees whose companies are on LinkedIn. Only companies with more than 1,000 employees were surveyed. Top 100 list:2 “State of the Global Workplace: Employee Engagement Insights for U.S. Business Leaders,” Gallup Survey 2013.1 ©2014 LinkedIn Corporation. All Rights Reserved. Survey: METHODOLOGY more likely to feel optimistic about their companies’ future 27% more likely to feel inspired 20% more likely to stay at their companies 20% more likely to feel connected to co-workers beyond their core teams 15% more likely to be active in building relationships using professional social media. 37% more likely to actively encourage employee use of professional social media. 50% more likely to actively create, curate and share content. 52% of employees are engaged 13% are not engaged 63% 58%57% SOURCES 40% There's a virtuous cycle to transparency and openness. Investing in Relationship Economics has a direct return on investment. Relationships begin with empathy and require dedicated strategy and resources. How genuine communication and engagement in social media helps businesses improve relationships with employees and customers, while also improving the bottom line. REL ATIONSHIP ECONOMICS S TAT E O F T H E G L O B A L W O R K P L A C E 2 0 1 3 G A L L U P A LT I M E T E R R E S E A R C H F O R L I N K E D I N , 2 0 1 3

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