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Business in a Networked World


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From the Corporate Social Media Conference, NYC....a look at where to embed social media in business

Published in: Business

Business in a Networked World

  1. 1. A Look at Business in a Networked World of the Interactive Web<br />Richard Binhammer, Social Media and Community<br />June 21, 2011, The Corporate Social Media Summit<br />
  2. 2. Traditionally, Business and Technology: aimed to deliver efficient organization of work through specialization of labor 1776, Adam Smith, Wealth of Nations<br />2<br />
  3. 3. Markets always were about conversations? <br />3<br />
  4. 4. Business Always Succeeded and Grew based on word of mouth<br />… more so with the social Web<br />
  5. 5. Internet: Unlike other technologies, the Web was unpredictable; opened more opportunities to change perspectives anywhere it reached<br />5<br />
  6. 6. Today, Interactive Web:First time in history, technology at home has evolved faster than for business becoming so pervasive that business is catching up to consumer expectations about connectivity, ease of use and how to use<br />Source: Mary Meeker, 2010 Internet Trends<br />
  7. 7. If Markets are Conversations…<br />“Networked markets are beginning to self-organize faster than the companies that have traditionally served them. Thanks to the web, markets are becoming better informed, smarter, and more demanding of qualities missing from most business organizations. Markets are conversations. Markets consist of human beings, not demographic sectors. Conversations among human beings sound human. They are conducted in a human voice, Whether delivering information, opinions, perspectives, dissenting arguments or humorous asides, the human voice is typically open, natural, uncontrived.”<br />7<br />Source: Cluetrain Manifesto<br />
  8. 8. …..But (Social Media) Conversations are Not Just Marketing<br />In both internetworked markets and among intranetworked employees, people are speaking to each other in a powerful new way.<br />These networked conversations are enabling powerful new forms of social organization and knowledge exchange to emerge.<br />As a result, markets are getting smarter, more informed, more organized. (not siloed or segmented the way we normally think)<br />Participation in a networked market changes people fundamentally.<br />8<br />
  9. 9. The world around us is changing<br />9<br />Control<br /> is not as successful<br /> as influence<br />companies that embrace this the fastest will win<br /><ul><li>Disintermediation between the customer and the expert is happening already
  10. 10. Users spending moretime across the web engaging –beyond company’s website
  11. 11. Customerstrust their peers more than anyone else
  12. 12. Traditional methods are not scaling; Does Social Media?</li></li></ul><li>10<br />Five years of experiments and experience<br />December 2006Ratings and reviews on<br />October 2007Michael Dell quote in Business Week<br />Jeff Jarvis story quote, “These conversations are going to occur whether you like it or not. Do you want to be part of that or not? My argument is you absolutely do. You can learn from them. You can improve your reaction time. And you can be a better company by listening and being involved in that conversation.”<br />May 2008Dell Outlet achieves $0.5M in sales via TwitterCommunity team active on TwitterSmall Business blog launched<br />June 2009Global Twitter revenues of $6.5 M<br />Dell named #1 most social brand in ranking of 100 top brands <br />February 2006Michael Dell Asks<br />Why don’t we reach out and help bloggers with tech support issues?<br />August 2006Blog outreach expands beyond tech support<br />March 2008Accepted Solutions launched on Community Dell France begins Online Community Outreach<br />March 2010China Micro-Blogging<br />February 2007IdeaStorm Launched<br />A voting based site allowing customers and others to submit ideas for Dell.<br />January 2009Dell Organizes in to4 customer focused business units<br />June 2009$2M+ Salesvia Twitter<br />Social Media Listening<br /> Command Center <br />2006<br />2007<br />2008<br />2009<br />2010<br />2011<br />Dell Social Media and Community University launched/5,000 teammembers trained byend of year(Aug.)<br />July 2006Direct2Dell launchedToday Direct2Dell exists in English, Spanish, Norwegian, Japanese and Chinese. <br />June 2007Dell joins Twitter<br />Dell launchesEmployeeStormInternal Blogs Launched for Employees.<br />April 2008Inside IT launchedBlog focused on business customers, and Cloud Computing.<br />2009Dell TechCenter<br />January 2008Dell aligns organization for success<br />Altimeter recognizes Dell with “Open Leadership Award for Innovation and Execution”(Oct.)<br />Spring 2009Some Members of Community and Conversations deployed within each of the new Dell Business units<br />December 2009Huffington Post Blog<br />DelllaunchesB2B pagesFacebook(Jun.)<br />April 2006Techsupport outreach to blogs<br />January 2007StudioDell launched<br />Dell’s video and podcast site, with helpful tips and tricks. Eventually expanding this into the YouTube channel making sharing easier.<br />February 2008Twitter expanded<br />November 2007DellShares launched<br />The first investor relations blog by a public company.<br />June 2008Channel blog launched<br />
  13. 13. Recognizing & Aligning a Powerful Ecosystem<br /><br />Our Communities<br />External Communities<br />Team Members<br />Confidential<br />11<br />
  14. 14. 12<br />Confidential<br />3/21/2011<br />Listening to Be A Better Business, Across the Business<br />From 4,000 posts/day to 26,000 posts/day<br />
  15. 15. 13<br />Don’t Look, Listen or Touch This is not a strategy that works. <br />
  16. 16. Listen, Engage, Act. It’s at the heart of all strategies…But How to Scale?<br />Think of it as a tool, <br />not a channel<br />
  17. 17. Campaigns Scale, but are capital intensive.You can not buy fans & followers for life …<br />
  18. 18. A Tool to be Leveraged Across the Fabric of a Company: different functions, uses and values<br />Product Development<br /><ul><li>Feedback Loop
  19. 19. Early Warning
  20. 20. New Product Ideation</li></ul>Marketing<br /><ul><li>Demand Forecast
  21. 21. Lead Generation
  22. 22. Message Reach</li></ul>Online Presence<br /><ul><li>Ratings & Reviews
  23. 23. Communities
  24. 24. Customer Stories</li></ul>Sales<br /><ul><li>Leads
  25. 25. Collaboration
  26. 26. Thought Leadership
  27. 27. Blogs</li></ul>Customer Service<br /><ul><li>Listening
  28. 28. Support Widgets
  29. 29. Outreach</li></ul>Communication<br /><ul><li>Rich Media
  30. 30. Brand Reputation
  31. 31. Influence
  32. 32. Reputation</li></li></ul><li>Customer Centricity:Inform and Drive Every Part of the BusinessThe Social Radio for All Employees<br />17<br />
  33. 33. Empowering Employees: Social Media & Community University<br />Principles <br />Policy <br />Governance <br />Training & tools<br />
  34. 34. Starting Down a New Road, in a Vehicle, yet to be provenEven today, the Infrastructure is evolving<br />19<br />
  35. 35. 20<br />Authority<br />Exchange<br />Community<br />
  36. 36. Lesson: Yes Virginia, there is ROI. It is measurable in many forms, there is not 1 number …<br />
  37. 37. Making Businesses Less Machine and more Networked Organism?A Human Organization<br />22<br />
  38. 38. Thank You<br />