In a few short years, social technologies have given social interactions the speed and scale of the Internet. Whether discussing consumer products or organizing political movements, people around the world constantly use social-media platforms to seek and share information. Companies use them to reach consumers in new ways too; by tapping into these conversations, organizations can generate richer insights and create precisely targeted messages and offers.
While 72 percent of companies use social technologies in some way, very few are anywhere near to achieving the full potential benefit. In fact, the most powerful applications of social technologies in the global economy are largely untapped. Companies will go on developing ways to reach consumers through social technologies and gathering insights for product development, marketing, and customer service. Yet the McKinsey Global Institute (MGI) finds that twice as much potential value lies in using social tools to enhance communications, knowledge sharing, and collaboration within and across enterprises. MGI’s estimates suggest that by fully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers—high-skill knowledge workers, including managers and professionals—by 20 to 25 percent.
Social really is here when it comes to the enterprise. Many see the role of social in consumer-focused businesses but have not absorbed what it means for the enterprise. Social is having a direct impact in 5 areas:
1. DIY prospecting: Customers conduct research on products and services well ahead of the official start to the sales cycle
2. Peer influence: Customers “pulse” their peers at every step of the journey
3. Trial before purchase: User testing requires grassroot support. It’s no longer a single decision instance rather smaller purchase bundles
4. Buyer & user are the same: The phenomenon changes decision and influence points in enterprise purchasing
5. Click to compare: Pricing transparency is foundational; consumer expectations are shaping enterprise behavior
For companies to be successful today, they have to plan for customer journeys not just customer experiences. In the digital age where engaging with customers across the entire purchase process, the experience with the brand can as important - if not more so - than the product itself. The best companies are aligned on their customer journey strategy, are truly omnichannel, get and keep the right talent, know what their return on marketing investment is, have campaigns tailored to their customers, and are agile. David Edelman made this presentation at the Financial Times Future of Marketing Summit.
In an 'always on' world where channel-surfing B2B customers demand real-time responses - no matter where they are - what is the optimal role of social media marketing? Roxane Divol, a partner and leader of McKinsey's Marketing & Sales Practice, addressed this question at the ITSMA Marketing Leadership Forum and demystified the emerging role of marketing as a driver of social technologies. She also discussed the tactics and strategies B2B marketers should use to access the touchpoints and datastreams that reinforce the social consumer decision journey. This presentation provides insights into how, when, and where social media influences and uniquely engages customers, as well as current best practices for developing, launching, and demonstrating the financial impact of social media campaigns. More: http://mckinseyonmarketingandsales.com/topics/b-to-b
In recent years loyalty programs that reward buyers for sticking with the brand have steadily grown in popularity. Between 2008 and 2012, U.S. loyalty memberships increased by 10 percent per year – reaching over 23 memberships per household. But for all their growth and popularity, do loyalty programs really pay off for the companies that offer them? A recent McKinsey study suggests that on average, they do not – and may in fact destroy value for program owners. For more on loyalty, visit: http://www.mckinseyonmarketingandsales.com/topics/loyalty
Procurement is a task that marketers rarely find fun, yet all realize that it needs to be done. Given the strain that many marketing budgets are under, skillful procurement processes--supply management, demand management, and process management--can actually net an extra 5%+ of current marketing budgets. There are important opportunities for closer collaboration between marketing and procurement groups.
Four megatrends are defining today's and tomorrow's sales landscape: Technology, demographic shifts, economics of experimenting, and the power of the user. This speech by McKinsey's Jennifer Stanley explores the trends, and lays out the five things that sales executives need to do now to adapt. For more on McKinsey's megatrends, be sure to check out: http://www.mckinseyonmarketingandsales.com/megatrends-for-sales-organizations
Hilarie Koplow-McAdams, President Commercial SMB Unit for Salesforce, and Michael Lazerow, CMO of Marketing Cloud for Salesforce, made this presentation at the McKinsey Chief Marketing & Sales Officer Forum event in 2012.
Social really is here when it comes to the enterprise. Many see the role of social in consumer-focused businesses but have not absorbed what it means for the enterprise. Social is having a direct impact in 5 areas:
1. DIY prospecting: Customers conduct research on products and services well ahead of the official start to the sales cycle
2. Peer influence: Customers “pulse” their peers at every step of the journey
3. Trial before purchase: User testing requires grassroot support. It’s no longer a single decision instance rather smaller purchase bundles
4. Buyer & user are the same: The phenomenon changes decision and influence points in enterprise purchasing
5. Click to compare: Pricing transparency is foundational; consumer expectations are shaping enterprise behavior
For companies to be successful today, they have to plan for customer journeys not just customer experiences. In the digital age where engaging with customers across the entire purchase process, the experience with the brand can as important - if not more so - than the product itself. The best companies are aligned on their customer journey strategy, are truly omnichannel, get and keep the right talent, know what their return on marketing investment is, have campaigns tailored to their customers, and are agile. David Edelman made this presentation at the Financial Times Future of Marketing Summit.
In an 'always on' world where channel-surfing B2B customers demand real-time responses - no matter where they are - what is the optimal role of social media marketing? Roxane Divol, a partner and leader of McKinsey's Marketing & Sales Practice, addressed this question at the ITSMA Marketing Leadership Forum and demystified the emerging role of marketing as a driver of social technologies. She also discussed the tactics and strategies B2B marketers should use to access the touchpoints and datastreams that reinforce the social consumer decision journey. This presentation provides insights into how, when, and where social media influences and uniquely engages customers, as well as current best practices for developing, launching, and demonstrating the financial impact of social media campaigns. More: http://mckinseyonmarketingandsales.com/topics/b-to-b
In recent years loyalty programs that reward buyers for sticking with the brand have steadily grown in popularity. Between 2008 and 2012, U.S. loyalty memberships increased by 10 percent per year – reaching over 23 memberships per household. But for all their growth and popularity, do loyalty programs really pay off for the companies that offer them? A recent McKinsey study suggests that on average, they do not – and may in fact destroy value for program owners. For more on loyalty, visit: http://www.mckinseyonmarketingandsales.com/topics/loyalty
Procurement is a task that marketers rarely find fun, yet all realize that it needs to be done. Given the strain that many marketing budgets are under, skillful procurement processes--supply management, demand management, and process management--can actually net an extra 5%+ of current marketing budgets. There are important opportunities for closer collaboration between marketing and procurement groups.
Four megatrends are defining today's and tomorrow's sales landscape: Technology, demographic shifts, economics of experimenting, and the power of the user. This speech by McKinsey's Jennifer Stanley explores the trends, and lays out the five things that sales executives need to do now to adapt. For more on McKinsey's megatrends, be sure to check out: http://www.mckinseyonmarketingandsales.com/megatrends-for-sales-organizations
Hilarie Koplow-McAdams, President Commercial SMB Unit for Salesforce, and Michael Lazerow, CMO of Marketing Cloud for Salesforce, made this presentation at the McKinsey Chief Marketing & Sales Officer Forum event in 2012.
Marketing is increasingly an advanced technology discipline. When well used, it can improve marketing effectiveness 15% - 25%. But using marketing technology effectively is about more than just tech; it's about creating an engine that runs smoothly and evolves continuously. For more, read "How digital marketing operations can transform business" (http://www.mckinsey.com/insights/marketing_sales/how_digital_marketing_operations_can_transform_business)
Creating a great customer experience requires good data, content, and engagement programs across the entire decision journey. Getting it wrong can mean losing customers or seeing negative buzz erode sales. Big data and digital can play critical roles in bolstering operating margins. Leaders in big data across markets have generally outperformed their peers, sometimes by as much as 20% - 30%.
There appears to be a disconnect between what customers care about and what companies talk about. B2B customers across industries recognize that brand influences their decision. For more insights from McKinsey on the B2B space, visit: http://mckinseyonmarketingandsales.com/when-b2b-brand-messages-miss-their-target
Companies need to understand the full range of the multichannel consumer decision journey to understand how to best influence potential and current customers. Scenarios and data from this McKinsey presentation show how consumers are making their decisions today - particularly in the UK and France - and how brands can turn those insights into profits.
B2B Domination: Marketing's huge opportunity to drive profitable growthRegalix
"B2B Domination: Marketing's huge opportunity to drive profitable growth" webinar by Regalix.
Presenter: Sean Geehan
Key Takeaways from the webinar:
• Unraveling the differences between B2B and B2C
• Increasing marketing’s credibility with the Leadership team
• Aligning strategies to market needs
• Engaging & leveraging your most valuable customers
• Achieving sustainable, predictable and profitable growth
You can watch the archived version of the webinar by visiting this link - http://bit.ly/1g0CSG2
2019 Insights from top US retailers on new trends in digital CXiAdvize
Gatepoint Research partnered with iAdvize to survey US Marketing, Customer Experience and Strategy leaders to better understand new priorities emerging for digital customer experience.
Four megatrends are shaping business today: increasing power of technology, shifts in demographics, low costs of experimentation, and the importance of user-centricity. For sales organizations to be successful, they now have to use Big Data more effectively, share their pitch early, use technology better, focus on platforms (not just services), and rethink their sales capabilities.
We are pleased to present the 2018 CMO Virtual Event: The Future of Digital Customer Engagement. In partnership with Argyle Executive Forum, we sponsored this one hour exclusive webinar to explore digital transformation’s impact across marketing, e-commerce, and CX strategies. Terrence Fox, Director of Strategy from iAdvize moderates a highly informative dialog with senior executives from Ethan Allen Global, Crayola and The Hain Celestial Group. Explore the changing dynamics driving brands to reinvent themselves utilizing conversational marketing strategies, leveraging online and offline engagement tactics and utilizing brand ambassadors as the voice of the customer. Get strategic and tactical insight into the customer expectations for interactions with brands and what business leaders must do to remain competitive. View our on-demand webinar at https://bit.ly/2QKwTjL
Digital has profoundly changed how B2B businesses need to interact with their customers. B2B customers are already embracing digital to make more informed purchase and post-purchase decisions. B2B companies need to understand how to use digital to be where (and when) their customers are. Latest McKinsey insights on B2B: http://mckinseyonmarketingandsales.com/topics/b-to-b
Read about the disruptions to influence and identity that impact our industry. Meabh Quoirin from Foresight Factory, lecturer on the MSc Digital Marketing & Analytics, discussed the digital marketing trends that will impact 2019 at an open lecture in Dublin Institute of Technology.
What do large enterprises need to know in the digital age? How should they develop a 'digital strategy'? A primer on what it means to be 'digital' today.
This is the keynote address from the July 17th, 2013 Becoming a Customer Company event. This was a co-sponsored event by Magnet 360, salesforce.com, and Marketo. This presentation includes slides as presented by Peter Coffee, Andy MacMillan, Scott Litman, and Jeremiah Owyang.
Reaching 50 million users (Tech adoption acceleration)G. Kofi Annan
It took about 75 years for the telephone to connect 50 million people. Today a simple iPhone app like Draw Something can reach that milestone in a matter of days. In the past 10 years the rate of adoption of new technologies has accelerated at a dizzying speed. Can we keep up with it all?
The Social Economy; Unlocking Value and Productivity through Social TechnologiesRenato Galisteu
Estudo global da McKinsey, de julho de 2012, sobre o quanto as tecnologias que otimizam comunicação e colaboração estão mudando a forma de fazer negócios.
Marketing is increasingly an advanced technology discipline. When well used, it can improve marketing effectiveness 15% - 25%. But using marketing technology effectively is about more than just tech; it's about creating an engine that runs smoothly and evolves continuously. For more, read "How digital marketing operations can transform business" (http://www.mckinsey.com/insights/marketing_sales/how_digital_marketing_operations_can_transform_business)
Creating a great customer experience requires good data, content, and engagement programs across the entire decision journey. Getting it wrong can mean losing customers or seeing negative buzz erode sales. Big data and digital can play critical roles in bolstering operating margins. Leaders in big data across markets have generally outperformed their peers, sometimes by as much as 20% - 30%.
There appears to be a disconnect between what customers care about and what companies talk about. B2B customers across industries recognize that brand influences their decision. For more insights from McKinsey on the B2B space, visit: http://mckinseyonmarketingandsales.com/when-b2b-brand-messages-miss-their-target
Companies need to understand the full range of the multichannel consumer decision journey to understand how to best influence potential and current customers. Scenarios and data from this McKinsey presentation show how consumers are making their decisions today - particularly in the UK and France - and how brands can turn those insights into profits.
B2B Domination: Marketing's huge opportunity to drive profitable growthRegalix
"B2B Domination: Marketing's huge opportunity to drive profitable growth" webinar by Regalix.
Presenter: Sean Geehan
Key Takeaways from the webinar:
• Unraveling the differences between B2B and B2C
• Increasing marketing’s credibility with the Leadership team
• Aligning strategies to market needs
• Engaging & leveraging your most valuable customers
• Achieving sustainable, predictable and profitable growth
You can watch the archived version of the webinar by visiting this link - http://bit.ly/1g0CSG2
2019 Insights from top US retailers on new trends in digital CXiAdvize
Gatepoint Research partnered with iAdvize to survey US Marketing, Customer Experience and Strategy leaders to better understand new priorities emerging for digital customer experience.
Four megatrends are shaping business today: increasing power of technology, shifts in demographics, low costs of experimentation, and the importance of user-centricity. For sales organizations to be successful, they now have to use Big Data more effectively, share their pitch early, use technology better, focus on platforms (not just services), and rethink their sales capabilities.
We are pleased to present the 2018 CMO Virtual Event: The Future of Digital Customer Engagement. In partnership with Argyle Executive Forum, we sponsored this one hour exclusive webinar to explore digital transformation’s impact across marketing, e-commerce, and CX strategies. Terrence Fox, Director of Strategy from iAdvize moderates a highly informative dialog with senior executives from Ethan Allen Global, Crayola and The Hain Celestial Group. Explore the changing dynamics driving brands to reinvent themselves utilizing conversational marketing strategies, leveraging online and offline engagement tactics and utilizing brand ambassadors as the voice of the customer. Get strategic and tactical insight into the customer expectations for interactions with brands and what business leaders must do to remain competitive. View our on-demand webinar at https://bit.ly/2QKwTjL
Digital has profoundly changed how B2B businesses need to interact with their customers. B2B customers are already embracing digital to make more informed purchase and post-purchase decisions. B2B companies need to understand how to use digital to be where (and when) their customers are. Latest McKinsey insights on B2B: http://mckinseyonmarketingandsales.com/topics/b-to-b
Read about the disruptions to influence and identity that impact our industry. Meabh Quoirin from Foresight Factory, lecturer on the MSc Digital Marketing & Analytics, discussed the digital marketing trends that will impact 2019 at an open lecture in Dublin Institute of Technology.
What do large enterprises need to know in the digital age? How should they develop a 'digital strategy'? A primer on what it means to be 'digital' today.
This is the keynote address from the July 17th, 2013 Becoming a Customer Company event. This was a co-sponsored event by Magnet 360, salesforce.com, and Marketo. This presentation includes slides as presented by Peter Coffee, Andy MacMillan, Scott Litman, and Jeremiah Owyang.
Reaching 50 million users (Tech adoption acceleration)G. Kofi Annan
It took about 75 years for the telephone to connect 50 million people. Today a simple iPhone app like Draw Something can reach that milestone in a matter of days. In the past 10 years the rate of adoption of new technologies has accelerated at a dizzying speed. Can we keep up with it all?
The Social Economy; Unlocking Value and Productivity through Social TechnologiesRenato Galisteu
Estudo global da McKinsey, de julho de 2012, sobre o quanto as tecnologias que otimizam comunicação e colaboração estão mudando a forma de fazer negócios.
Prospects For Ontario 2011 Task Force On Competitiveness, Productivity And Ec...Colin McKillop
Simple stated there is more work to be done to achieve the 2020 Productivity Challenge. Since 2001 the Institute for Competitiveness, Productivity and Economic Progress mandate has been to measure and monitor Ontario’s competitiveness, productivity, and economic progress compared to other provinces and US states, and to report to the public on a regular basis. A independent not-for-profit organization is supported through the Ministry of Economic Development and Innovation.
Productivity & the Performance of the Jamaican EconomyPMI_JDBC
Dr Charles Douglas, Executive Director of the Jamaica Productivity Center, addresses the Jamaica Doctor Bird Chapter of the Project Management Institute, on the causes and possible solutions for chronic low productivity in Jamaica.
Have you ever wanted to show your board or your elected officials the value of economic development? View this ppt to find out how economic development organizations can measure/quantify the value of their promotional activities.
The role of ICTs for environmental observation. Collecting and helping to interpret and model the environment and more specifically the climate are key to climate action. Wireless sensor networks, the IoT, embedded microprocessors, remote sensing and earth observation systems, etc. are described. Today, they continue to be very important and their role and use os growing.
Slide presentations developed to demonstrate how Information and Communication Technologies (ICTs) be used to address climate change, and why ICTs are a crucial part of the solution – i.e. in promoting efficiency, Green Growth & sustainable development, in dealing with climate change and for climate and environmental action. These slide presentations were delivered in February 2011 in Seongnam, near Seoul in Korea.
These presentations were developed and delivered over 2.5 days on the occasion of a Regional Training of Trainers Workshop for upcoming Academy modules on ICT for Disaster Risk Management and Climate Change Abatement. These modules were developed as part of the Academy of ICT Essentials for Government leaders developed by the United Nations (UN) Asia Pacific Centre for ICT Training (APCICT), based in Songdo City, in the Republic of South Korea.
These presentations were developed in 2011, and are somewhat out of date, but most of the principles still apply. Module 10, which has been published, does not include much of the information outlined in these presentations, which are fairly technical. They were developed to address a significant gap in understanding of the technical basis of using ICTs for climate action and because there is a clear bias in development circles against the importance of dealing with climate change mitigation in developing countries. These presentations are an attempt to redress this lack and are published here with this purpose in mind.
The author, Richard Labelle, is presently working on updating these presentations to further highlight the importance of addressing climate change and the important role that technology including ICTs, play in this effort.
Delivering on Personalization with the Power of APIsAkana
• Why is personalization important for capturing and delighting customers?
• What are the main drivers of personalization, with examples?
• What is an API?
• How are companies using APIs and personalization to rethink the customer experience?
• How can companies innovate to deliver a more personalized experience with APIs?
A lecture at Carnegie Mellon University Tepper School on what Enterprise 2.0 and social processes add value. It follows with a look at Commitments as the atomic units of colalboration that lead to evidence-based trust networks, and more meaningful social graphs.
Is it time for a Connector-less Approach to Cloud Integration? Akana
In this webinar you will learn:
• How to drastically cut down time to complete integration projects and integrate an unprecedented number of SaaS and cloud applications within your eco-system.
• Why ESB’s and connector-based integration do not scale.
• How APIs are redefining integration.
• A cloud integration blueprint for the Digital Enterprise.
• How a connector-less architecture can improve productivity.
Big data covers scale, timeliness, and complexity. Companies that understand how to use it can power sales growth. B2B companies can best use big data to uncover micromarkets.
The API Economy is exploding, and this presentation explains how to extend your brand, accelerate new channel adoption and operate with API best practices.
Digital is disrupting the physical world with new business models. In this presentation from SOA Software VP of Product Marketing, Sachin Agarwal, learn how APIs are used to drive new digital channels securely and safely.
Both SOA and API management technology have important things to say about the future capabilities of your IT infrastructure. API technology brings a strong focus to the consumption of your backend IT resources within a well-managed community of API developers and mobile app developers.
L'Entreprise 2.0 - Acte 3 : Les réseaux sociaux d'entreprise, un levier de va...Conseils Atelya
L’ambition de ce livre blanc est d’éclaircir les usages liés à un « Réseau Social d’Entreprise » (RSE), en regard du passage d’une entreprise traditionnelle vers l’Entreprise 2.0.
Ce troisième acte sur l’Entreprise 2.0 vise à permettre aux décideurs de comprendre :
• Les composantes des réseaux sociaux
• Les usages émergents
• Les bonnes pratiques de gouvernance appropriée au RSE
• Les principaux impacts métiers
Pour plus d'information sur nos services, n'hésitez pas à communiquer avec nous (info@atelya.com) ou visitez notre site web www.atelya.com
Social Insights on the Telecommunications Industry Brandwatch
In our latest report, Social Insights on the Telecommunication Industry, we outline the industry’s leaders in social media, examine key customer service issues, and briefly discuss some of the many other ways that telecommunication businesses can use social intelligence to support their business.
An in-depth social media study conducted by FedEx and Ketchum of more than 60 well-known companies has found that significant changes are on the horizon for the way companies will use social media tools to communicate internally. The study also examines programming, team structure and budgeting trends, including how companies are increasingly working across functions to ensure collaboration on social media projects. Interviewees also discuss why some are eager to take a leadership role in social media while others are comfortable in a more general participatory mode.
Fed ex / Ketchum Social Media Study Findings ReportMauricio Godoy
Findings and insights from the 2010 FedEx/Ketchum Social Media Benchmarking Study—a comprehensive exploration of how social media impacts today’s communications landscape. This document reflects the input of leaders from over 60 top global organizations across most major industries.
Email is dead. Bring on the platforms that harness social media for business operations. FIFO (First in, First out - management should be the focus) JIT - Just in time management.
3 day workweek is the goal. Too much inefficiency adds time to our work week instead of reducing it.
Utilisation et impact des réseaux sociaux en entrepriseLudovic Clerima
Rapport sur l'utilisation et l'impact des réseaux sociaux en entreprise. (Attention, document en anglais). Pour plus d'infos, et cette fois en français, lisez l'article sur Myeurop.info : http://fr.myeurop.info/2013/07/08/les-reseaux-sociaux-en-europe-amis-ou-ennemis-de-l-economie-11441
Social Media for Development: Transforming Society and GovernanceRichard Grimaldo
A 2-day seminar (Oct 29-30, 2018) on social media designed for government agencies who wanted to use social media as a development tool for governance. It is designed to introduce social media, its origin and various applications in the development context.
Held at DICT, ICT Literacy and Competency Development Bureau, UP Diliman, Quezon City
See PDF for our Q4 2014 Digital Media and Internet market update - an overview on M&A transactions, relevant public equities, and key investments in the space through the Horizon Partners lens.
We take a long-term approach to building relationships. If you'd like to discuss your business or the industry with our team, please reach us at contact@horizonpartners.com"
How can companies use their internal communities of practice to collaborate, innovate and grow?
This paper explores the elements of internal on-line community success, and provides examples of how Schneider-Electric addresses this challenge.
Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down.
In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.
UK consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and consumers are trading down significantly.
In the United Kingdom, consumers are most concerned about rising prices and the invasion of Ukraine. Their views of the current and future state of the economy are extremely pessimistic, worse than throughout the entire COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced spend in non-essential categories. Almost two-thirds of consumers have assumed new shopping behaviors in the last four to six weeks, with more than four out of ten trying private label. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money.
COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend.
Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.
German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping.
In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.
For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money.
French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.
Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.
Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending.
In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.
Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started.
Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides.
About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.
Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods.
In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.
Most Korean consumers expect that normalcy will return to routines only after June 2022, yet there are signs of pre-COVID-19 routines returning.
Korean customers have been less optimistic than those in other countries about the economic recovery. But optimism in Korea is much higher now than two years ago. Half of consumers indicate a desire to splurge, with intent to do so being the strongest in Gen Z and millennials. One-eighth of consumers say they have returned to out-of-home activities.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown.
Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and worried about the future. Russia’s invasion of Ukraine and price inflation overshadow other concerns, and consumer anxieties in turn are impacting confidence in household finances and national economies, especially among vulnerable populations.
Worried about spending more on food, transport and fuel, consumers report cutting back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove a challenging year for the continental consumer.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits.
Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.
Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism.
German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.
As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown. Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.
Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.
Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy.
Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.
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The social economy: Unlocking value and productivity through social technologies
1. Any use of this material without specific permission of McKinsey & Company is strictly prohibited
The social economy:
Unlocking value and productivity
through social technologies
Discussion document for Alumni Webcast
August 9, 2012
2. McKinsey & Company | 1
Social technologies share three key characteristics
SOURCE: McKinsey Global Institute
We define social technologies as digital technologies used by people to
interact socially and together to create, enhance, and exchange
content. Social technologies distinguish themselves through the
following three characteristics:
1. They are enabled by information technology.
2. They provide distributed rights to create, add, and/or modify
content and communications.
3. They enable distributed access to consume content and
communications.
3. McKinsey & Company | 2
Social technologies include a broad range of applications
that can be used both by consumers and enterprises
NOT EXHAUSTIVE
1 Social analytics is the practice of measuring and analyzing interactions across social technology platforms to inform decisions.
SOURCE: McKinsey Global Institute analysis
Ratings
and
reviews
Evaluate and rate
products, services,
and experiences;
share opinions
Social
commerce
Purchasing in
groups, on social
platforms, and sharing
opinions
Wikis
Search, create and adapt
articles; rapidly access
stored knowledge
Discussion
forums
Discuss topics in open
communities; rapidly
access expertise
Shared
work-
spaces
Co-create content;
coordinate joint
projects and tasks
Crowd-
sourcing
Harness collective
knowledge and
generate collectively
derived answers
Social
gaming
Connect with friends
and strangers to
play games
Media
and file
sharing
Upload, share, and
comment on photos,
videos, and audio
Social
networks
Keep connected
through personal and
business profiles
Blogs/
microblogs
Publish and
discuss opinions
and experiences
Social
analytics1
4. McKinsey & Company | 3
Social technologies have been adopted at record speed
SOURCE: Various press reports
Time to reach 50 million users
50 million users
Radio
TV
iPod
Internet
Facebook
Twitter
38 years
13 years
4 years
3 years
1 year
9 months
ILLUSTRATIVE
5. McKinsey & Company | 4SOURCE: eMarketer, February 2011
% of total US users
Use of social networks is spreading across age groups
Age
NOTE: Numbers may not sum due to rounding.
16 14 13
20
18 17
22
21 21
201120102009
65+
55-64
45-54
3
8
14
4
9
15
4
10
15
35-44
25-34
18-24
12--17
0-11
16
2
17
2
18
2
6. McKinsey & Company | 5
Communications are shifting from e-mail and
instant messaging to social media
SOURCE: comScore Media Metrix, October 2011
31
36
-5 p.p.
2011
69
64
2007 53
69
-16 p.p.
31
47 44
18
100% =
1,430
+26 p.p.
56
82
760
E-mail Instant messaging Social networking
Users of service
Non-users
Unique monthly visitors
% of global online population
7. McKinsey & Company | 6
Social networking accounts for just 5 percent of the time spent
communicating and consuming media
0
1
2
3
4
5
6
7
8
9
10
11
1900
In person
20102000199019801970196019501940193019201910
Social networks
Instant messenger
SMS
Mobile phone
Other Internet3
E-mail2
Recorded music1
TV1
Landline telephone
Radio1
Print
Mail
1 Radio, TV, and recorded music are slightly discounted to account for the time spent using these concurrently with other media.
2 Does not include e-mail sent internally within companies, which is not counted as Internet traffic.
3 Includes all social technologies that cannot be explicitly separated in available data.
SOURCE: Bureau of Labour Statistics; WAN-IFRA; Statistical Abstracts; National Bureau of Economic Research; US Census
Bureau; Radicati Group; Yankee Group; Nielsen; ITU; eMarketer; and others; McKinsey Global Institute analysis
Time spent consuming messages by technology type
in the United States
Hours per day
Non-digital
Potential to be socially enabled
Currently socially enabled
8. McKinsey & Company | 7
Use social
technology as an
intra- or inter-
organizational
collaboration and
communication tool
Use social
technology to
match talent to
tasks
Enterprises can apply social technologies across the entire value
chain, as well as across and between enterprises
Marketing
and sales
Operations
and
distribution
Product
development
Co-create products1
Leverage social to forecast and monitor2
Use social to distribute business processes3
Use social technologies for marketing
communication/interaction
5
Generate and foster sales leads6
Derive customer insights4
Social commerce7
Provide customer care via social technologies8
9
Enterprise-
wide levers
1 Deriving customer insights for product development is included in customer insights ( lever 4) under marketing and sales.
2 Business support functions are corporate or administrative activities such as human resources or finance and accounting.
SOURCE: McKinsey Global Institute analysis
10
Customer
service
Business
support2
4 Derive customer insights1
Organizational functions Across entire enterprise
Improve collaboration and communication
Match talent to tasks
9. McKinsey & Company | 8
Potential of social technologies to improve productivity at different
points in the value chain in major sectors of the economy
% of cost base in each value chain step
1–5
5–10
10–20
>20
SOURCE: McKinsey Global Institute analysis
Potential benefit from productivity increase along the value chain
Total value
at stake
% of total costIndustry/segment
Product
development
Operations
and
distribution
Sales and
marketing
Customer
service
Business
support
functions
Financial
services
Insurance—
P&C
~2–3
Insurance—
life
~3–4
Retail
banking
~6–12
Consumer packaged goods ~6–9
Professional services n/a ~8–11
Advanced
manufacturing
Semi-
conductors
~5–6
Automotive ~4–6
Aerospace
and defense
~2–3
Social sector
10. McKinsey & Company | 9
Potential of social technologies to improve margins across
the value chain in major sectors of the economy
Percentage points margin potential1
1 Margin for the social sector is expressed as a percentage of costs.
<0.5
0.5–1.0
1.0–2.0
>2.0
SOURCE: McKinsey Global Institute analysis
Potential benefit from productivity increase along the value chain
Total value
at stake
% of revenueIndustry/segment
Product
development
Operations
and
distribution
Sales and
marketing
Customer
service
Business
support
functions
Financial
services
Insurance—
P&C
~3–6
Insurance—
life
~3–4
Retail
banking
~4–7
Consumer packaged goods ~5–6
Professional services n/a ~8–11
Advanced
manufacturing
Semi-
conductors
~5–7
Automotive ~4–6
Aerospace
and defense
~2–3
Social sector
11. McKinsey & Company
LastModified5/8/20135:24PMEasternStandardTimePrinted3/9/20124:10:42PM
| 10
Potential value and ease of capture vary across sectors
Utilities
Energy
Health care
providers
Pharmaceuticals
Education
Telecommunications
Retail and
wholesale
Transportation
Electronics
Consumer
products
Food and
beverage
processing
Chemicals
Construction
Industrial
manufacturing
Professional
services
National
government
Local
government
Media and
entertainment
Insurance
Banking
Software
and Internet
SOURCE: McKinsey Global Institute analysis
Value
potential
Ease of capturing value potential
Lower
Higher
Relative size of
GDP contribution
HigherLower
DIRECTIONAL
12. McKinsey & Company | 11
Value available through collaboration and other benefits of
social technologies varies across industries
%
SOURCE: McKinsey Global Institute analysis
63
49 48
30
24
57
38 34
Average
66
Aero-
space
62
Auto
43
Semi-
conductors
76
Profes-
sional
services
98
Retail
banking
70
2
Life
insurance
52
P&C
insurance
51
CPG
37
Collaboration
Other benefits
13. McKinsey & Company | 12
Companies with higher volumes of interactions outperform industry peers
Variation in firm-level performance1
SOURCE: Compustat; McKinsey Global Institute analysis
1 Defined as the ratio of standard deviation to mean for EBITDA per employee within each industry.
2 Low is less than 14 percent interaction workers on payroll, medium is 14 to 62 percent, high is more than 62 percent.
Strategic
advantage
over industry
peers
Range of
firm-level
performance
Top
performers
Bottom
performers
Average
Level of interactions2
Low Medium High
0.9x 5.5x 9.4x
14. McKinsey & Company | 13
20.0–25.0
4.0–6.0
3.5–5.0
5.5–6.5
7.0–8.5
Improved communication and collaboration through social technologies
could raise productivity of interaction workers by 20 to 25 percent
SOURCE: International Data Corporation (IDC); McKinsey Global Institute analysis
19
14
39
28
100Total
Role-specific tasks
Communicating and
collaborating internally
Searching and
gathering information
Reading and
answering e-mail
Tasks of
interaction worker
% of average week
Productivity
improvement
%
Increased
value-add time
% of workweek
25–30
30–35
25–35
10–15
20–25
15. McKinsey & Company
LastModified5/8/20135:24PMEasternStandardTimePrinted3/9/20124:10:42PM
| 14
Many companies need a cultural transformation to prepare for successful
internal implementation of social technologies
SOURCE: McKinsey Global Institute
Transformation Transaction Tacit
Interactions
Strategy and
innovation
Centralized and
top-down
Decentralized,
bottom-up, evolutionary
Organization
Hierarchies,
command and control
Flat, flexible,
contingent, porous
Knowledge
and learning
Rote and instruction-
oriented, top-down
Apprenticeship,
decentralized,
knowledge marketplace
Technology
leverage
Substitute, automate Substitute, automate,
accelerate, scale
Complement, extend,
adapt
Role of
management
Set targets, assign
tasks, optimize
Set direction, enable,
learn
Performance
management
Physical and activity
outputs, efficiency
Outcomes,
effectiveness
Physical outputs,
efficiency