IBM Social Business


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JCI London presents IBM Social Media Business (June 2012)
Creating and capturing value through Social Media - a corporate and large organisation perspective

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IBM Social Business

  1. 1. JCI: 21 June 2012 Social Business © 2009 IBM Corporation
  2. 2. IBM Social BusinessObjectives What is Social Business? How can organisations make money out of Social Business? How can you build your eminence by using Social Media? © 2012 IBM Corporation
  3. 3. IBM Social Business Justin Ablett Associate Partner IBM GBS Social Business Consultant in Financial Services 10 years+ experience in technology, innovation and transformation Tweet on retail banking, wealth management, and use of social media in Financial Services @justinablett © 2012 IBM Corporation
  4. 4. IBM Social BusinessMany organisations feel they should do ‘something’ with social media butthey don’t know what that something should be!4 © 2012 IBM Corporation
  5. 5. IBM Social BusinessThere are 75+ million online sources … Social Networking Micro-blogs Video sharing Information aggregators Wikis Social gaming Community Question & Answers Product reviews Social News Blogs Location based services5 © 2012 IBM Corporation
  6. 6. IBM Social BusinessSocial media usage is exploding…UK internet visits to Social Networks overtook visits to search engines in 2010 More people are using Social Media Average hours a week spent on Social Networking per visitor across Europe People are using Social Media for longer periods – and it’s not just young people!6 © 2012 IBM Corporation
  7. 7. IBM Social Business… and rapidly evolving 34% of bloggers post opinions about brands and products 100 billion searches each month 100 million 80% of US Google + members consumers rely on their social networks when searching for products to buy 24 hours Video uploaded per minute 2 billion internet users globally 61% of internet users go 700m Facebook online every day compared with users worldwide 54% of TV viewers, 36% of radio listeners and 32% of newspaper readers 1bn forecasted before end of year Half of them access the site with their mobile 140m Tweets per devices day7 © 2012 IBM Corporation
  8. 8. IBM Social BusinessMost organisations are underprepared to manage the impact Underpreparedness Percent of CMOs reporting underpreparedness 50% Shifting consumer demographics 79% Data explosion 70% Regulatory considerations 67% Emerging market opportunities 65%Growth of channel and device choices 64% Most Decreasing brand loyalty 59% common Financial constraints 58% across industries Customer collaboration and influence 57% Social media 54% ROI accountability 53% Privacy considerations Global outsourcing Corporate transparency 38% Source: IBM CMO survey. Q8 How prepared are you to manage the impact of the top 5 market factors 50% 50% “ Through 2015, 80% of enterprises will lack a coherent approach to dealing with information “ that will have the most impact on your marketing organization over the next 3 to 5 years? n=4 to 42 (n = number of respondents who selected the factor as important) from social media Source: Gartner 20118 © 2012 IBM Corporation
  9. 9. IBM Social BusinessThe opportunities go far beyond marketing and PR 1 Customer Service 4 Marketing / PR Provide service before a complaint reaches you Enable user-to-user interaction on the social Facilitate customers to support one another cloud (on their terms)Whilst the threats are Reduce response times and lower costs Low-cost way to get a powerful message acrossprimarily related to Deliver consistent multi-channel experience Improve understanding of customer needsreputational risk –the Increase agent productivity Competitor watchopportunities reach far Reduce customer churnbeyond Marketing/PR… 2 Product Development 5 Sales Listen to your (potential) customers Generate leads and opportunities (through Optimise portfolio of products and services inbound marketing) Leverage the creativity / knowledge of the crowd Increase ease with which you can contact Lower development costs, reduce time to prospects market and increase success rate (minimises Transparency & instant feedback via peer-to- recalls) peer reviews) help increase sales 3 Risk / Compliance 6 Recruitment / HR Improve ability to more quickly: Identify what leavers/prospects are saying Identify fraudulent activity Identify new talent respond to fraudulent activity Increase employee loyalty and satisfaction, helping to reduce recruitment costs © 2012 IBM Corporation
  10. 10. IBM Social BusinessAnd many early adopters are yet to make the transition from trying a fewSocial Media gimmicks to creating a fully integrated Social Business Strategy Integrated Social Business Strategy Online Mobile Internal Marketing Front End CRM Call Centers HR/ Banking Employee Sales Recruitment Collaboration Social Media Strategy: Interactive, Collaborative, Analytical, and Social10 © 2012 IBM Corporation
  11. 11. Customer Product Risk / Marketing / Recruitment / 1 Service 2 Development 3 Compliance 4 PR 5 Sales Communications 6Doing Business HRIBM Social BusinessBank of America on Twitter BoA has 15,000 followers. Channel managed by team of 6FTE. High satisfaction rate. Customer problems often resolved offline, but initial engagement through Twitter. Besides its Twitter accounts, BoA has a YouTube Channel, blogs, LinkedIn networks, a Flickr account and plans to expand on Facebook."Given the amount of time that people are spending online and when you see how people are using social media toanswer questions. Yes, our shareholders should care,""We are deepening our relationship with customers through social media…banks presence on social media channelswill only increase going forward”."Much of the industry, including us, is still trying to figure out to how apply it best to the business.""People spend 25 percent of their time on Facebook and the internet. People are looking for services and information.We want to make sure there is a human connection. If we cant add value to a network we are not going to join it,"Chris Smith, Enterprise Social Media Executive for Bank of America. © 2012 IBM Corporation
  12. 12. Customer Product Risk / Marketing / Recruitment / 1 Service 2 Development 3 Compliance 4 PR 5 Sales Communications 6Doing Business HRIBM Social BusinessFirst Direct LabsFirst Direct lab was launchedin August. Visitors givenaccess to what the bank isplanning and can critique itthrough a comment facilityand forum.The initial plans up fordiscussion included a Website re-design, the use of QRcodes and a mortgagecomparison smartphone app.Now the bank is askingcustomers to view a numberof design options for its nextdebit card. After four days live on the site, 1204 people had added their comments © 2012 IBM Corporation
  13. 13. Customer Product Risk / Marketing / Recruitment / 1 Service 2 Development 3 Compliance 4 PR 5 Sales Communications 6Doing Business HR IBM Social BusinessMarketing: National Australia Bank on YouTube Over the span of a few days, NAB became the #1 most trending topic on Twitter across all of Australia and received 100,000+ visits to their break-up blog. NAB is now ranked #1 in customer service (up from last place) 79% increase in home loan inquiries 50% increase in credit card applications 20% increase in new accounts Cannes Lion 2011 award for Best Use of Media Relations13 © 2012 IBM Corporation
  14. 14. Customer Product Risk / Marketing / Recruitment / 1 Service 2 Development 3 Compliance 4 PR 5 Sales Communications 6Doing Business HR IBM Social BusinessPR / brand enhancement: American Express Crossing the emotional divide: Amex uses social media to get customers personally invested in outcome of campaign Challenge: Build advocacy by tapping into consumers’ concern about their community’s economic wellbeing; support small business clients Solution: Small Business SaturdayTM on Facebook - users encouraged to click “like” and spread the word For each “like,” $1 donated to charity Card holders enroll to receive a $25 credit Consumer/merchant “Shout Outs” Polls captured consumer motivations Results: Within weeks, more than 1 million people had “joined the movement” American Express donated $1M to charitySource:; “Who we are.” American Express Web site.; Small Business Saturday Web site, accessed January 24, 2011.; “Small Business Saturday (SM) Firmly Plants Its Roots Between Black Friday and Cyber Monday.” American Express press release. December 2, 2010. © 2012 IBM Corporation
  15. 15. Customer Product Risk / Marketing / Recruitment / 1 Service 2 Development 3 Compliance 4 PR 5 Sales Communications 6Doing Business HRIBM Social Business Most popular recruitment application on Facebook “Professional service provider engages and hires senior-level, passive candidates for 4% of traditional costs” © 2012 IBM Corporation
  16. 16. JCI: 21 June 2012 The Social Business Journey Creating and capturing value through Social MediaThis report is solely for the use of Client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the Client organization without prior written approvalfrom IBM. This material was used by IBM during an oral presentation; it is not a complete record of the discussion. IBM Confidential © 2012 IBM Corporation
  17. 17. Todd Abramson Strategy and Transformation Consultant8 years+ experience in technology,innovation and transformationThought leadership working withinternational clients focusing ondigital channel transformation andsocial mediaMBA from University of Oxford, SaidBusiness School © 2012 IBM Corporation
  18. 18. IBM Social Business Jams & Ideation Internal Social Media Collaboration Analytics Employee Multi ChannelSocial Media Tools Strategy Guidelines Community Enterprise Solution Evaluation Design Social Media Strategy Strategy and Governance Pilot/POC Roadmap Social Media Solutioning Solution Confirmation Business Case Strategy Analyse the Outputs Learn and Implementation Business Readiness Transform Optimise the Process Build Transform the Organisation Deploy Governance Co-mentoring Optimise Business & Technical Ambassador Requirements Program Business Feedback Internal Processes Community Jumpstarts © 2012 IBM Corporation
  19. 19. IBM Social Business Social Business How to build your personal eminence © 2012 IBM Corporation
  20. 20. IBM Social Business Alison Foley Business Strategy Consultant Financial Services Graduate from Oxford Brookes University – studied International Business Management (IBM) Background in Retail, Marketing and IT Keen interest in Social Business and it’s impact on business reputation, particularly across cultures @alison_foley © 2012 IBM Corporation
  21. 21. IBM Social Business Social media is essentially a category of online media technologies; where people are talking, participating, sharing, networking, and bookmarking online © 2012 IBM Corporation
  22. 22. IBM Social Business22 © 2012 IBM Corporation
  23. 23. IBM Social Business The more you “sell” the less you sell. You earn23 the right to promote in social, you can’t buy it. © 2012 IBM Corporation
  24. 24. IBM Social Business24 © 2012 IBM Corporation
  25. 25. IBM Social Business “you miss 100% of the shots you don’t take”25 © 2012 IBM Corporation
  26. 26. IBM Social Business26 © 2012 IBM Corporation
  27. 27. IBM Social Business#1 Define your personal brand “Your personal brand is composed of values, a mission, and a positioning statement that depict what you do and who your audience is. It is an indicator for how valuable you are to employers and customers at every stage of your career” Dan Schawbel, © 2012 IBM Corporation
  28. 28. IBM Social Business#2 Look Great on LinkedIn 1.Open your profile to full view 2.Add links to other web properties 3.Add your well written bio 4.Actively seek to connect with people © 2012 IBM Corporation
  29. 29. IBM Social Business#3 Share ideas through Microblogging © 2012 IBM Corporation
  30. 30. IBM Social Business#4 Blog – on someone else’s blog © 2012 IBM Corporation
  31. 31. IBM Social Business#5 Establish your own web property Set up a Twitter account Launch a traditional blog Share videos on YouTube Share slides on SlideShare etc. © 2012 IBM Corporation
  32. 32. IBM Social BusinessGet started today! 1. Define your personal brand 2. Build up your LinkedIn Profile 3. Use LinkedIn to share ideas and links to content you find useful 4. Look for opportunities to comment on blogs and volunteer to write a guest post 5. If you want to establish a Twitter account or blog, take time to plan first © 2012 IBM Corporation
  33. 33. IBM Social Business Thank You & Questions © 2012 IBM Corporation