This video explains what social business is and where the value lies in becoming a social business. We'll look at key principles including social media marketing, social CRM, internal collaboration and social analytics.
The ‘Social’ paradigm is as old as the web Compuserve = early ISP with active discussion groups
Roll on a few years and you see more web-based collaboration. In this instance Google Groups containing millions of discussion threads
Let’s skip on to where we are now. Social networking tools are woven into the fabric of our lives. Social media is having an impact on our culture, our politics, everything.
Ok, so we understand the impact this is having on us. But what does this mean for businesses? Let’s explore the impact this is having. What did business look like before it got social?
Let’s start with the prospects: that potential market that could be using a company’s products and services
Marketers would broadcast messages to this audience This could take the form of billboard advertising, TV/Radio spots, banner ads. The net would be cast wide.
The messages would resonate with a small proportion of this audience They would go on to become customers.
At this point they may have some connection with account managers or customer support representatives Perhaps they would have access to an office-hours dial-in service
Within the enterprise, there would be little interaction between different teams Whether they be finance, accounts or product development With very poor visibility of the customer
So, what impact did the social web and the access to collaboration tools have on business?
Marketers now engage and facilitate conversations rather than purely broadcasting messages Conversations also take place between customers and prospects, often in the form of recommendations
An example of this is the Twitter feed of Cole Hardware who operate a small chain of home improvement stores around San Francisco They engage with customers and forward on recommendations They will talk about their new offerings, and promote their partners They even offer in-store discounts through their social media channel
These conversations will turn some prospects into customers
Who in turn will share their experience.
Social media opens up the potential for customers to interact wiith the brand 24/7 And open the possibility for others within the enterprise to engage with customers Through social customer relatioinship management
An example of this is the Harley Davidson HD Talking forum Where bike owners can talk with each other and Mechanics from the company
Social media allows the creation of strong relationships with customers
Within the company, teams no longer work in isolation They are linked together, bringing internal departments nearer to the customer. Knowledge can be shared throughout the enterprise
An example of this is the BleedYellow community from IBM partner GBS Experts on given technologies can share notes regardless of where they are in the world Communities grow around popular topics
So we have an enterprise that wraps around the consumer. With ample opportunity for direct interaction
How can you turn all this interaction into effective business processes? Social analytics offers the key Analytics allows you to filter the noise and extract meaningful insights
Here you see an example of a dashboard being used to track social chatter across the web However social analytics can take many forms From discovering influencers and experts To incovering new markets and proving business value
So, what feaures does a social business possess?
Engaged – A Social Business connects people to expertise. A willingness to openly share information. Transparent - A Social business strives to remove unnecessary boundaries between experts inside the company and experts in the marketplace. Nimble – A Social Business leverages these social networks to speed up business, gaining realtime insight to make quicker and better decisions.
What are some of the changes we have to look forward to? Industry analyst Gartner suggests there will be a move away from email. Meanwhile, Forrester sees significant growth in the market for social software.
So, to sum up…
Any company: No restrictions Not one platform: Goes beyond being a technology story Culture: Look to employees and where their strengths are Risk: Training Rules Clearly defined processes
An introduction to social business
The Great Mind Challenge Social business overview Daryl Pereira - Academic Programs, ISV and Developer Relations February 2012
From where did social business emerge? TGMC Social Business
Social is not new http://techprep.mv.cc.il.us:8082/netware/Service/html_5/LAN-CH5A.html ~ 1995 TGMC Social Business
Evolution of social content ~ 2003 TGMC Social Business
Is ‘social’ new? ~ now What is social business?
Social CRM: getting closer to customers Harley owners trades photos, jokes, where to find hard to find parts, advice on Harley models and ownership There are at least 7 mechanics on-call at all times. What is social business?
Social analytics: uncovering connections and value Individual Discover influencers Provide recommendations Find experts Aggregate Track sentiment/interest Uncover new markets Prove business value What is social business?
What are the features of a social business? TGMC Social Business
Social Business Nimble Engaged Transparent Social Business: and yet another representation TGMC Social Business
What the analysts say TGMC Social Business Organizations will increase their spending on enterprise social collaboration software at a growth rate of 61% through 2016, a year in which the market for these products will reach $6.4 billion. - Forrester By 2014, social networking services will replace email as the primary vehicle for interpersonal communications for 20% of the business users. - Gartner
Conclusion Social business applies to any company in any industry Social business is not about one platform or technology A culture of social networking is required for social business to flourish Risk can be managed through enablement and governance TGMC Social Business