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How Companies Can Move Past a Trough of Disillusionment in Social Business

Dion Hinchcliffe, Chief Strategy Officer of The Dachis Group and co-author with Peter Kim of Social Business by Design (Jossey-Bass, 2012) says some companies are facing a “trough of disillusionment” with social business, but that this is normal, and there are strategies a company can take to move forward and become a more fully enabled social business. Among these are building social media literacy, integrating existing initiatives, and connecting social tools to how work gets done.

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Finding the Value in Social Business

A recent survey by MIT SMR and Deloitte shows that companies are starting to derive real value from social business — with the payoff concentrated most strongly in companies that have reached a certain level of sophistication in relation to their social business initiatives. The higher a respondent rated his or her company on a “social business maturity” scale, the more likely he or she was to report that the company is deriving business value from its social business initiatives.

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What Managers Really Think About Social Business

Given that technology-based social networking has been transforming social norms for the past decade, will social networking and social software have a similarly transformative effect on business? Are they already doing so? How are enterprises benefiting? MIT Sloan Management Review and Deloitte asked thousands of managers about how their companies are using social media tools — and how important those tools are becoming to their organizations. Here’s what they said.

Vince Golla, director of digital media and syndication, Kaiser Permanente

Social Business at Kaiser Permanente: Using Social Tools to Improve Customer Service, Research and Internal Collaboration

Social media tools such as Twitter and Facebook have helped Kaiser Permanente — the nation’s largest nonprofit health care provider — grow its positive media mentions close to 500% in the last five years, says Vince Golla, who oversees the organization’s external digital reputation.

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The Executive’s Role in Social Business

A majority of respondents to a survey by MIT Sloan Management Review and Deloitte say that their companies’ social capabilities are at an early stage of developing social capabilities. However, executives are increasingly recognizing the value of social business to their organizations, and a majority of C-suite respondents believe that social business represents an opportunity to fundamentally change the way work gets done.

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Image courtesy of Flickr user Peter Hilton.

The Key to Social Media Success Within Organizations

Though the use of social media can be a valuable way to enrich a company’s culture and enhance its productivity, it isn’t a sure thing. The main reason some social media initiatives fail to bring benefits to companies is because the initiatives don’t create emotional capital — that is, a strong emotional connection between stakeholders and the company. That’s the main finding of a survey of 1,060 executives about their experience with social media, along with a number of in-depth case studies.

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Why Social Business Initiatives Fail

Deeper analysis of the 2013 social business report from MIT Sloan Management Review and Deloitte shows that organizations may be inadvertently setting up their social programs to not succeed by not having clear objectives for the programs and by not giving employees enough free time to fully engage with the projects. Gerald C. Kane, an associate professor at Boston College, combs through the data to find three insights into social business failure.

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Your Turn: What Questions Do Managers Have About Social Business?

What trends and companies should we explore in our upcoming social business survey? The differences between countries and cultures when adopting social business globally? The differences between using social tools internally and externally? The ways social can provide competitive advantage? Tell us your thoughts and help shape the next survey, which will launch in October 2013 and be reported in the summer of 2014.

Image courtesy of Hokey Pokey.

Increasing the ROI of Social Media Marketing

Marketers know social media should be a powerful way to generate positive word-of-mouth. If marketers can select the right platform, design the right message and engage the right users to spread that message, their campaign should succeed. One successful campaign — which marketers can look to as an example — took place at Hokey Pokey Ice Cream Creations, an upscale ice-cream retailer in India. By following a seven-step process, Hokey Pokey substantially improved its social media marketing.

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Is Your E-Business Plan Radical Enough?

During the dot-com frenzy of the late 1990s, most large, traditional companies scrambled to find successful e-business strategies to fight off the aggressive new challengers. Unsure of how to proceed, many turned over their Internet efforts to the CIO and the information-technology organization. In most cases, that was a mistake.

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Walking the Legal Tightrope of Social Business

Social business is a rapidly expanding phenomenon, creating situations not foreseen by our current legal system. Should managers friend employees on Facebook or connect with them on LinkedIn? What are the legal implications of making these connections — or not? In many ways, social business puts managers in a “damned if you do, damned if you don’t” dilemma, but managers cannot afford to ignore the legal implications of social business.

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On the Evolution of “Social Business”

Social business means different things to different people. Some see it as business-oriented collaboration. Others, as a way of mobilizing people to do good. Still others dismiss it as “goofing off” or wasting time. However you look at it, social has the capacity to radically alter how business is done — whether it’s for-profit business or more altruistic ventures, or (as is the case with a growing number of companies) a little of both.

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Social Business Is Fast Gaining Ground Across All Industries

In the second annual survey from the MIT and Deloitte Social Business Global Executive Study and Research Project, businesspersons from 12 industries were asked if social business was “important to their organization today.” Respondents from all industries reported an increase in importance from the previous year. The energy and utilities industry had the biggest year to year increase, while the technology/media/telecommunications sector rated social business as highest in importance for both years.

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Four Ways Social Data Can Generate Business Value

Companies both large and small have access to a growing stream of social data from an increasing number of sources. But many are missing a significant opportunity to use social data to gain intimate and real-time knowledge about what is going on within, not just outside, the organization. Social data can help organizations improve team performance, drive financial performance, and more.

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