Social Business

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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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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.

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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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The Multiplier Effect of Social Business Tools

Mondelez International’s brands include some well-recognized names, including Oreo, Ritz, and Cadbury. Yet as Mondelez’s vice president of global media and consumer engagement Bonin Bough explains, even a powerhouse like Oreo must work to engage its customers — and in the modern era, that means using social media. In his interview with David Kiron, Bough describes the company’s innovative methods for expanding its reach.

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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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Social Business Research Study Launched

MIT SMR has launched its 3rd annual global study on social business, exploring how social technologies and social data are changing company operations and corporate behavior. Now we need readers’ help. Please tell us how social business is evolving in your company via the short survey we’ve designed. The survey will take about 10 minutes of your time. It will help us to continue our inquiry into how social business is influencing the practice of management.

Image courtesy of Flickr user Torley.
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Can Social Business Make Employees Happier?

Social business can breed contentment among employees — but it doesn’t happen automatically. As the 2013 social business report from MIT Sloan Management Review and Deloitte notes: “Businesses that are making the greatest progress toward becoming a socially connected enterprise focus rigorously on four interrelated areas: leading a social culture, measuring what matters, keeping content fresh and changing the way work gets done.”

Image courtesy of Flickr user Lil Larkie.
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Procedural Versus Strategic Approaches to Social Media

Is your company’s social media team grounded in the culture of your organization? Younger employees often have a procedural understanding of social media tools but need strategic vision, argues Boston College’s Jerry Kane. The most effective social media initiatives may be partnerships between younger employees experimenting with social media technologies while more experienced employees harness their enthusiasm and ideas to give them strategic direction.

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No Sales For Social?

Although a company’s social site can do well for branding, loyalty and customer word of mouth, new research from Forrester shows that social sites are not currently creating direct sales.

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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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How Finding “Exceptions” Can Jump Start Your Social Initiative

Many senior executives still think of social media as something you do after hours for fun, says John Hagel, co-chairman of the Deloitte Center for the Edge — they haven’t bought into the idea that social can drive the core performance of the business. He’s committed to showing them why they’re wrong.

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Risky (Social) Business

A new study released by the Altimeter Group helps companies identify, manage, mitigate and even prevent the risks that come with embracing social media.

Image courtesy of Flickr user mag3737.
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Using Facebook Helps Customers Solve Problems

MetroTwit is a tool that helps Twitter users track their Twitter feeds, see several columns at a time and easily tweet, reply or retweet. MetroTwit’s managers use Facebook to talk to customers and let them help each other with questions.

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Size Matters in Social Business Adoption

In the recent survey on social business that MIT Sloan Management Review conducted in collaboration with Deloitte, respondents were asked how important social business was to their business. When we looked at which companies answered “important” it became clear that size matters.

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CIOs Struggle to Define Their Role in Social Businesses

Image courtesy of Flickr user ben matthews :::. As the use of social tools for internal collaboration and knowledge management grows rapidly, there is much discussion in the CIO/CTO community about the role of the technology officer in this evolution.

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Al Roth’s Pioneering Work In ‘Market Design’

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Al Roth, expert in game theory, experimental economics, and market design (and Harvard Business School professor), is one of the big names in the field of matching markets — building efficient systems that match, for instance, new doctors to their first hospital jobs out of medical school.

Image courtesy of Flickr user Sharon Drummond.

Nature’s Rules

Image courtesy of Flickr user Sharon Drummond. Any one of us—and any one of our organizations—could be forgiven for behaving at the moment like a bear confronting winter. I don’t mean behaving “bearishly,” as investors do.

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