Social Business

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Turning Facebook Fans into Product Endorsers

“If you engage customers,” says V. Kumar, “they go and they get their friends” to try out a product, too. Kumar, of the J. Mack Robinson College of Business at Georgia State University, explains how companies can find their most influential online customers and enlist them to help promote their brands.

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GE’s Colab Brings Good Things to the Company

Ron Utterbeck, the CIO for GE Corporate and the Advanced Manufacturing Software Technology Center in Michigan was vital in getting GE to implement its social network. The Facebook-like network built in-house is called GE Colab and links up the firm’s 115,000 employees from around the globe.

The network has been breaking down corporate silos, helping problems get solved quicker, aiding employees better find internal experts, and making it easier to share files and documents in a meaningful context.

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When Social Networks and Analytics Intersect

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  • Read Time: 3 min 

Does large amounts of data equal large amounts of new knowledge? Sometimes it does. Applying analytics techniques to social network data reveals new things about how people make decisions, say two Facebook researchers. There are also advantages that come from the ability to more quickly find patterns in data than was previously possible, says a scientist at Microsoft Research. But the CEO of Personal.com predicts that many companies will find that data analysis is not a core skill.

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Nilofer Merchant

How Social Tools Can Help Your Company Avoid Strategic Failure

Although most companies think “social media” when they hear the word social, author, consultant and business executive Nilofer Merchant says firms need to expand their understanding, and think about the transformative ways social tools change how an enterprise operates.

Among the fundamental ways social technologies alter companies include removing bottlenecks in decision making, freeing work from jobs; leveraging customers as co-creators; and getting customers to engage around a shared value.

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The Richard Beckhard Memorial Prize

The editors of MIT Sloan Management Review are pleased to announce the winners of this year’s Richard Beckhard Memorial Prize, awarded to the authors of the most outstanding MIT SMR article on planned change and organizational development published from fall 2010 to summer 2011.

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.

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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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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Mark Yolton, senior vice president of SAP Communities & Social Media

SAP: Using Social Media for Building, Selling and Supporting

SAP runs a 10-years old, online community network that has more than a million unique visitors a month. Mark Yolton, senior vice president of SAP Communities & Social Media, tells how his company is using social media for “outside-in” market insight and as a mechanism to immediately tell the world about its new products.

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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.

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How IBM Builds Vibrant Social Communities

“I see IBM as a social business,” says Jeff Schick, IBM’s vice president of social software for IBM. “We’ve broken down the barriers of reaching out to the people within the organization” — not to mention partners and clients as well. And the company is making it easier for its client companies to do the same thing.

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Social Business: What Are Companies Really Doing?

The rapid adoption of technology-based social networking has been transforming politics and social norms on a global scale for a decade. Will social networking and social software also transform business? MIT Sloan Management Review and Deloitte surveyed 3,478 managers from companies in 115 countries and 24 industries. This report identifies how social technologies are creating value and innovations in the marketing function, but also in product development, operations and leadership.

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The Perils of Social Coupon Campaigns

Social coupons have become a popular form of marketing promotion. Businesses such as restaurants, car washes and dry cleaners pitch coupon discounts through Internet sites such as Groupon and LivingSocial in hopes of attracting a new crop of customers. But a poorly designed coupon campaign can do serious harm to a business’s profit margin. While the coupons can generate value for customers and the social coupon service providers themselves, they can lead businesses into a thicket of problems.

Image courtesy of Flickr user Loving Earth.

Why Strong Ties Matter More In a Fast-Changing Environment

It has become accepted wisdom that weak ties — your acquaintances, distant colleagues — can provide more novel information than close ties. But new research by Marshall Van Alstyne, associate professor at Boston University and a visiting professor at MIT, suggests that in some cases strong ties are better.

Showing 61-80 of 134