2011 SBS Singapore | Dion Hinchcliffe, High Impact Social Business: Stories and New Perspectives

High Impact Social Business:Stories and New PerspectivesDion Hinchcliffe (@dhinchcliffe)

Social Business Summit 2011 Singapore | High-Impact Social Business The drivers for next-generation business• Pervasive global connectivity• New friction-less interaction platforms• Next-gen mobility• Focus on network effects• Information superabundance• Inherent transparency, openness, and broadcast• The rise of social capital

Social Business Summit 2011 Singapore | High-Impact Social BusinessThe current engagement landscape Maturing Competent Webinars online video direct mail P2P video social networks mobile apps Immature(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social BusinessSocial As The New Dominant Global Trend Source: ComScore Global & Morgan Stanley(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business Mobile Internet Ramping Up Faster Than Desktop Internet by 5x(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social BusinessHundreds of public social networks...(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. ...channel fragmentation 6

Social Business Summit 2011 Singapore | High-Impact Social BusinessDozens of internal social channels• E-mail• Text messaging• Instant messaging• Meetings and conference calls• Enterprise 2.0• Social CMS• Knowledge management• Intranets• Online communities• Communities of Practice(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 7

Social Business Summit 2011 Singapore | High-Impact Social Business Channel Fragmentation Is Now The Norm +400 social networks with over 1 million users = 2 billion mobile Internet users + 100 millionaggregate audience of about 900 million next-gen smart phone users across hundreds of device types Have Become The De Facto Primary Channels for Customer Engagement (cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business So Customers Have Moved... And Companies Have Fallen Behind • Mobile • Social • New Digital Channels • Approximately 1 Billion “Digital Natives” Have Migrated In the Last 3 Years(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business Organizations Know The Problem Will Only Get Worse Outdated frameworks and operational strategies often relegate discussions to incremental ﬁxes and piecemeal approaches Although @ComcastCares has over 10 employees responding in new customer engagement channels like Twitter, they can’t scale. A proliferation of new social networks and mobile apps are appearing at an increased pace – organizations are falling further behind. The result – large amounts of waste in fragmented data, customer records, touchpoints, and experiences – leaving companies unable to efﬁciently reach customers, prospects, and partners.(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business Change Keeps Coming: The Rise of Social and Mobile Apps PepsiCo Digital Chief: “The majority of social interaction will happen via mobile” - Feb 21, 2011(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business The worldʼs most important channels...(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social BusinessWhat do these new engagement models reallyprovide to businesses? • Radical reductions in cost of doing business (i.e. 30% reduced support costs) • Dramatic improvements in customer sat scores & partner engagement • Real-time response to customer needs & critical situations • Access to deep pools of innovation • Revenue growth (increased top-of-line sales and service numbers)(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

High Impact Social Business Stories(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 15

Selected Social Business Stories• Open Source Software (OSS)•• The Search for Steve Fossett• Innocentive (B2B)• AOL• Atlassian Lesson Social Talent Pool + Problem = Innovation• SAP B2B Community

Social Business Summit 2011 Singapore | High-Impact Social BusinessWhatʼs the best way to interact with someoneunder 30?• #1: Have a mobile app on their ﬁrst screen.• #2: Those under 30 rank text messaging as their primary form of communicating, followed by Facebook.• These are the critical and future new channels in which to have deep marketing effectiveness.• The primary future of marketing will be in “large scale social experiences.”(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 17

Social Business Summit 2011 Singapore | High-Impact Social BusinessThe Leading Edge of Customer Engagement: Large Scale Social Experiences (cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 18

Social Business Summit 2011 Singapore | High-Impact Social Business Case Study: HBO• More than 750,000 additional visitors• Increased Facebook engagement by 115% (improvement in number of Likes to 3 million.)• Tens of thousands in additional merchandise sales• Nearly doubled the number of 3rd season premier viewers to 6.4 million(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 19

Social Business Summit 2011 Singapore | High-Impact Social BusinessWhere is the social business opportunity inworkforce engagement? • Increased levels of productivity that were inaccessible until now • Enablement of tacit interactions on a previously unknown scale (Source: McKinsey & Company) Enterprise 2.0 has the potential to increase productivity in complex interactions, where previous attempts have largely failed(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business The 50 Foot Collaboration Rule • Workers are not likely to collaborate very often if they are more than 50 feet apart: Take Away: Surmounting this obstacle is now • Even with traditional possible with social electronic aids such as telephone, e-mail, and technologies remote video(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 21

Social Business Summit 2011 Singapore | High-Impact Social BusinessSignificant Social Business Examples• - 50x ROI in high value scenarios• - 29% reduction in e- mail volume after making social their primary business channel• and Atos Origin - Eliminating e-mail entirely while moving to social channels• Gold Corp - $3.5 billion in value generated through

Social Business Summit 2011 Singapore | High-Impact Social Business Social CRM: How can we have conversations of value with millions customers? Example:(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business• Telecommunications giant wanted workers to be much more collaborative From Greg Lowe, Enterprise 2.0 Lead:• 77,000 employees scattered across the globe previously using primarily process- focused tools like SharePoint• Began experimenting with Yammer back in 2008, now over 9,300 workers using it- Users began reporting Ibeneﬁts: a problem.” “Yammer saved me three days of trying to ﬁnd who should talk to about• Spent 13 months working on formal E2.0 implementation, which rolled out earlier in 2010 on Jive Software• Users have been mobilizing and self- organizing, such as sales groups that have created social groups to share best practices and internal techniques• Now 30K+ engaged workers(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved. 24

Social Business Summit 2011 Singapore | High-Impact Social BusinessHuman Resource Implications for Social Business• HR is ground zero for internal and external social media• Example: CHROs we talk to are fielding requests from employees to create Facebook groups to collaborate - Primary Cause: Employees are not given basic collab tools in most firms - One CHRO at a large financial services firm has received over 50 such requests in 2010 alone• Increasingly, HR is actually getting in the driverʼs seat - Policies - Guidance and Support - Professional Development - “Air Cover”(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social BusinessShow Me The Value:Latest Social Business ROI ﬁndings:• 1700 executives from around the world across a wide range of industries• 69 percent of respondents report that their companies have gained measurable business beneﬁts, including: - More innovative products and services, - More effective marketing and customer care - Better access to knowledge - Lower cost of doing business - Higher revenues Source: McKinsey, 2010 (cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Social Business Summit 2011 Singapore | High-Impact Social Business How do we best organize for Social Business? • CMO? • Corporate Communications? • Human Resources? • IT Dept? • Where then? • Social Business Ofﬁce • “Triumvirate”(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.

Thank you

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2011 SBS Singapore | Dion Hinchcliffe, High Impact Social Business: Stories and New Perspectives

by Dachis Group on May 31, 2011

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2011 SBS Singapore | Dion Hinchcliffe, High Impact Social Business: Stories and New Perspectives — Presentation Transcript