Social Business - capturing the digital opportunity in UK plc


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Few organisations today are unaware of the social phenomenon cutting a swathe through the traditional business landscape. Awareness and engagement though, are very different beasts.

Deloitte has just published its latest report, in conjunction with MIT, investigating just how seriously UK organisations are taking social business - not just how they view it intellectually, but what they are actually doing to make use of new socially-oriented tools, technologies and principles.

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Social Business - capturing the digital opportunity in UK plc

  1. 1. THE STATE OF PLAY: SOCIAL BUSINESS IN UK PLC Social business is creeping onto the radar within most UK organisations, but progress remains slow. Many companies remain unconvinced of its immediate value, and today, its use is largely confined to mainstream applications such as marketing. But there are positive signs of change, with crowdsourcing in particular showing strong signs of growth. Timelines for business Fastest-growing uses of social business within UK plc in the last 12 months 2013 33% OF BUSINESSES BELIEVE THAT SOCIAL BUSINESS IS IMPORTANT TODAY 2016 74% OF ORGANISATIONS BELIEVE SOCIAL BUSINESS WILL BE IMPORTANT IN 2016 39% 35% 35% CROWDSOURCING DRIVING BRAND AFFINITY MANAGING REPUTATION How often do you use social business to support day-to-day decision-making? 25% 40% NEVER OR RARELY 26% 9% OCCASIONALLY OFTEN EVERY DAY MAKING THE CASE FOR SOCIAL BUSINESS UK organisations are not yet fully confident in making solid business cases for social business initiatives. Several significant barriers remain, and perceived benefits are often marginal for anything but mainstream usage. Success metrics are still very basic, and expectations for positive results are generally low. Primary perceived operational benefits of social business Top three barriers to adoption of social business GOBBLEDY GOOK! 37% TOO MANY COMPETING PRIORITIES 35% 28% LACK OF OVERALL STRATEGY 35% BREAKING DOWN SILOS LACK OF MANAGEMENT UNDERSTANDING Primary perceived strategic benefits of social business 30% IMPROVING EMPLOYEE MORALE AND MOTIVATION 30% ACCESS TO MARKETING DATA 30% 28% INCREASED COMPETITIVENESS ENHANCED CUSTOMER SATISFACTION 25% FASTER TIME TO INNOVATE SOCIAL BUSINESS AT WORK – WHO’S USING IT? Unsurprisingly some departments make better and more extensive use of social business than others. While conventional applications such as sales and marketing are relatively widespread, organisations are not yet seeing the value for talent management, finance and product development. Data from social initiatives is often ignored when developing strategy or understanding market shifts. Departments making extensive use of social business Top 3 departmental uses of social business 21% 33% 40% MARKETING SALES 20% CUSTOMER SERVICE 11% HUMAN RESOURCES 18% PRODUCT DEVELOPMENT ENGAGING KEY STAKEHOLDERS 30% CROWDSOURCING 10% 26% RISK MANAGEMENT On a scale of 1 to 10, how close is your organisation to an idealised, fully integrated social business? 1 2 3 4 5 6 7 8 9 10 DRIVING BRAND AFFINITY 16% 18% 4% 0% BALANCING THE RISK To many respondents, social business is a risk – a barrier to its widespread adoption. Others, though, see it more positively as a way to actually manage organisational risk more proactively. Perhaps the greatest risk of all, though, is indifference, more than half of organisations believe that social business is just another communications tool, rather than an opportunity to fundamentally improve the way they do business. Organisational perception of future social business impact 57% Risk perception of social business 44% JUST ANOTHER COMMUNICATIONS TOOL 34% AN OPPORTUNITY TO FUNDAMENTALLY CHANGE THE WAY WE WORK 6% A RISKY MEDIUM WE ARE FORCED TO CONFRONT OF ORGANISATIONS SAY THAT SOCIAL BUSINESS IS IMPORTANT FOR MANAGING BRAND AND REPUTATIONAL RISK 10% 11% OF ORGANISATIONS CITE SECURITY RISK AS A SERIOUS BARRIER TO ADOPTION OF SOCIAL BUSINESS OF ORGANISATIONS MAKE EXTENSIVE USE OF SOCIAL BUSINESS FOR RISK MANAGEMENT