Social Business

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Social Business Is Dead . . .

In recent years, social business has exploded onto the landscape as the centerpiece of the digital economy. But is it, after all, just a passing fad? No… and yes, says blogger Jerry Kane. While social business is here to stay, it is undergoing transformative changes that will make it something very different from what we see today — and business professionals, particularly those in the vanguard of current social business activity, need to be on their toes to be ready for what’s next.

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The Unexpected Payoffs of Employee “Eavesdropping”

In an experiment with social media, researchers uncovered an interesting and unexpected outcome. When employees were asked if using an internal social network had helped them learn about coworkers’ skills, they all said “No” — yet their ability to identify coworkers who could help in collaborative projects had skyrocketed (as had their performance). How was this possible? The answer: employees had acquired information so incrementally, they were unaware that they’d learned something of value.

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Can You Really Let Employees Loose on Social Media?

At Mitel, a $1.2 billion communications technology company, employees tweet about the company and are proactive on LinkedIn with only one rule: “Use your best judgment at all times.” There are no other rules. Martyn Etherington, the company’s chief marketing officer and chief of staff, has no problem with that. “We have to enable the majority and not hold them back by implementing catch-all policies that are aimed at a few.”

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Online “Chatter Data” is Big Data Gold

Brands are extremely interested in finding out what people are talking about on Twitter and Facebook — what’s known in the industry as “chatter data.” This is a kind of real-time knowledge that Facebook, for one, has the ability to capture — and share. Blake Chandlee, vice president of global partnerships at Facebook, says that Facebook is working with brands such as Procter & Gamble and Unilever to help them understand their consumers through this detailed social data.

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Why Your Company Is Probably Measuring Social Media Wrong

If a teenage girl retweets you in Japan, will your video go viral in Brazil? Social business expert Jerry Kane argues that it might — because social media is a complex system, where small or seemingly unimportant factors can converge to produce large or unexpected effects. The challenge for managers in the social arena is to consider the unexpected instead of the linear “X means Y” thought processes. Managers should pay attention to four characteristics of social media that can affect outcomes.

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Interactive Tool Explores How Companies Generate Value With Social Business

The 2014 Social Business Interactive Tool explores how survey respondents say their companies are using social business to transform their organizations and get more from their social business efforts. Users can explore and customize each interactive chart by filtering and isolating the data on the fly — and create customized visualizations to share. Statistics are from the 2014 Business Global Executive Study and Research Project "Moving Beyond Marketing" conducted by MIT Sloan Management Review and Deloitte.

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Why Social Media Will Fundamentally Change Business

Of you haven’t yet jumped on the social media bandwagon, you may want to hurry up and join. Social media is not a passing fad, but a permanent, transformative technological change to how companies conduct business. Social business expert Jerry Kane explains how social media is likely to fundamentally alter the business environment in the near future.

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Are Companies Ready to Finally Kill Email?

Embracing social collaboration tools could raise productivity by 25%. So what’s the hold up? The problem is that too many companies have installed the right products and networks but have not implemented them into the fabric of how they work. “Full implementation means not only that people know how to use the new tools from a technological perspective, but that they adjust their communication,” writes Terri L. Griffith, author of The Plugged-In Manager.

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How Facebook is Delivering Personalization on a Whole New Scale

As Facebook becomes more mobile-centric, it’s also becoming adept at laying its customer data over brand data and third-party data to create uniquely customized experiences for its users. In a Q&A, Blake Chandlee, vice president of global partnerships at Facebook, details the power that comes from being able to overlay all that customer information. “Historically, we’ve never had the ability to have the scale of a mass media along with the personalization that digital provides,” says Chandlee.

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Leveraging the Extended Enterprise: MITRE’s Handshake Tool Builds Virtual Collaboration

“The notion that we were going to crowdsource certain functions really was unheard of,” says Donna Cuomo of the nonprofit MITRE, a $1.4 billion nonprofit R&D organization. A social business tool it developed called Handshake is helping make that kind of virtual collaboration happen. In a Q&A, Dr. Cuomo and MITRE colleagues Laurie Damianos and Stan Drozdetski explain how Handshake has influenced business at MITRE and what challenges they’ve faced in its implementation.

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Infographic: Social Business Driving Positive Outcomes

A key finding from the 2014 social business research report by MIT Sloan Management Review and Deloitte indicates that company values increase as “social maturity” increases. To advance in social maturity, companies should: 1) use social data to better advantage; 2) provide leadership vision for social; and 3) infuse social across the enterprise. An infographic illustrates the value derived from social, and the way socially mature companies outperform others in key areas.

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The Paradox of Leading a Social Business

Among the findings of the MIT SMR and Deloitte 2014 report: as companies begin to reach maturity in social business processes, many of them are finding that traditional management practices are being replaced by a new kind of leadership. In a social business environment, communication practices between customers, employees, and managers are greatly altered — and the way management responds must change, too.

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An Audio Summary of “Moving Beyond Marketing”

An audio briefing by Gerald C. (Jerry) Kane, co-author of the 2014 social business research report by MIT Sloan Management Review and Deloitte. The report indicates that that measurement sophistication is finally taking hold in social business. More than 90% of “socially maturing” companies actively measure their social business efforts. The authors explain why C-suite leadership is crucial to reaping value from social business.

Image courtesy of Flickr user Michael / Hello Turkey Toe. https://www.flickr.com/photos/helloturkeytoe/8782246559
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After a Social Media Gaffe: How to Recover and Not Dig a Bigger Hole

It was late at night when a staffer from the American Red Cross accidentally sent a personal tweet from the organization feed. Unfortunately, it was a tweet about beer. Immediately, there were thousands of tweets in response saying, “The Red Cross is drunk.” Wendy Harman, director of Red Cross information management and situational awareness in disaster cycle services, says that what happened next was a product of being prepared for social media mistakes and trusting that a little humor would help.

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Moving Beyond Marketing

The 2014 research report by MIT Sloan Management Review and Deloitte finds that measurement sophistication is finally taking hold in social business. More than 90% of “socially maturing” companies actively measure their social business efforts, and measurement sophistication is starting to prove its value. As well, social business is becoming not just a B-to-C phenomenon, with nearly 60% of B-to-B companies saying that social business initiatives are positively impacting business outcomes. Crucial to all these efforts: C-suite leadership.

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Be a Good Sport With Social Media

Reaching out to customers on social media platforms can be a double-edged sword, particularly when the subject is sports. As airlines KLM and Delta discovered, there is a fine line to be walked between supporting the home team and offending a multitude of potential customers. Social media expert Gerald Kane offers some lessons derived from the Twitter errors made during the 2014 World Cup.

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The American Red Cross: Adding Digital Volunteers to Its Ranks

The American Red Cross has become an excellent example of how to use social media to connect people during the three cycles of disaster: preparedness, response and then recovery. Its digital volunteers help calm people in the middle of events, and its community mobilizers help coordinate services afterwards. “We want to blur that line about who’s a Red Crosser and who’s not, to say, ‘actually, this is up to all of us,’” says the organization’s Wendy Harman.

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Audi Puts Its Future Into High (Tech) Gear

Cars have made the transition from offline to fully networked, which makes them social vehicles, able to communicate about traffic patterns and weather. The next decade will see cars integrate more fully into consumers’ lives, says Audi’s Ricky Hudi, head of electronics at the fast-growing unit of Volkswagen. The goal for the industry: making upgradable cars, so that cars will no longer lag years behind consumer technology trends.

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Reimagining Customer Service at KLM Using Facebook and Twitter

For KLM, social business arose as a spontaneous response to the Icelandic volcanic eruption that spewed ash into Europe’s airspace for days, halting all air travel and stranding thousands of passengers. Since the abrupt birth of the airlines’ social business strategy, e-commerce senior vice president Martijn van der Zee has made the company a model for using social in customer service.

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