Loras College 2014 Business Analytics Symposium | Greg Hedges: Social Risk or Consulting Impossible

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Preventing headline news of social business antics is one reason executives hire Protiviti. The focus to prevent bad things from happening with social, however, often obscures hidden gems of Upside opportunity. The irony? Walking past the Upside is likely an even greater risk. We rethink downside risk to invent "The Reveal," that ppint in the consulting episode where a marvelous makeover is unveiled to delight the client. In this talk, we share a few cases of "Consulting: Impossible" where we reveal Upside opportunity side by side with that reduction in social business risk. For more information on the Loras College 2014 Business Analytics Symposium, the Loras College MBA in Business Analytics or the Loras College Business Analytics Certificate visit www.loras.edu/mba or www.loras.edu/bigdata.

Education Business Economy & Finance

acquire and
serve customers
improve collaboration
and
in new ways
passing up opportunities to
Major Risk with Social Technologies?

Recognition
(Initial)
Engagement
(Repeatable)
Friendship
(Defined)
Collaboration
(Managed)
Social Media (Content-Based)
Community (Relationship-Based) Engagement
Direct Engagement
Everything we do
needs to advance a
relationship…or we
shouldn’t bother.
Relationships Take Time and Resources
The Role of Social in Strengthening Relationships
Inexpensive and Fast
Cost Effective and Faster
Expensive and Slow

Recognition
(Initial)
Engagement
(Repeatable)
Friendship
(Defined)
Collaboration
(Managed)
Social Media (Content-Based)
Everything we do
needs to advance a
relationship…or we
shouldn’t bother.
Inexpensive and Fast

Use platforms for their intended
purpose and choose platforms that are
most likely to reach your intended
audience.

Consulting: Impossible...Downside creates Upside?
• Employees
• Community Managers
• Financial Advisors
• Crisis Managers
• Metrics Experts

Appalling– might as well re-title it:
“how Not to embed social into your
company culture”

• Employees
• Community Managers
• Financial Advisors
• Crisis Managers
• Metrics Experts
Consulting: Impossible...Downside creates Upside?

Community Management Playbook
Let’s cross paths with our customers
Social media is a path to achieving a valuable
information exchange with our customers —
To unveil patterns of customer
interactions, build commonality
of interests, and deepen our
relationships with them.

Crises Science of Social
When and How Should We Respond?
Decide
Decide
Always
Always
Always
Always
Emergency, Serious, Important
Serious, Important
Serious
Important
Important
Important
Inappropriate content
Attack on social property
Potential social/media/PR disaster
Complaint
Guideline issue
General inquiry

• Employees
• Community Managers
• Financial Advisors
• Crisis Managers
• Analytics
Experts
Consulting: Impossible...Downside creates Upside?

Relationships Take Time and Resources
Metrics Find Risk of Wasted Resources….
• # of Followers / Friends
• # of Posts / Tweets
• # of Policy Violations
• # of Links Visited
• # of Inquiries / Response
• # of Downloads
• Effort Spent Learning
• Effectiveness of Training
• Effort Building Initial Properties • # of Mentions
• # of Re-tweets
• # of Links
• # of Shares
• # of Comments
• # of Registrations
• Types of content that drives the
most interest
• Employee activity and use patterns
• # of Referrals
• # of Prospects identified
• % of Reach (Share of Voice)
• Pilot Success
• Customer Feedback
• Customer Sentiment
• # of prospects converted into
customers
• Cost Savings Realized
Qualitative
Quantitative
Recognition
(Initial)
Engagement
(Repeatable)
Friendship
(Defined)
Collaboration
(Managed)

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