Socialytics! Ready, Set, Social Business Agenda!
Top 5 Questions on Social!
I was just looking at the Top 5 questions companies have about Social Media and in the Top 5 is "How do I create a social strategy?" In fact 83% say this is THE most important question to answer.
Companies around the world are now focused on becoming Social Businesses, estimated to be a $100B market by 2015. In the past, Social Media was top of mind for marketing and PR executives, with the focus on leveraging social tools like Facebook, Twitter, LinkedIn, and communities as a new form of media. As these social techniques have advanced, businesses are now applying their value to more than just marketing and public relations but to all processes in a business – including Human Resources, Marketing, Sales, Customer Service, Supply Chain and more. A Social Business is one that uses these social techniques in all of its business processes.
It's GLOBAL!
As I have traveled around the globe to over 78 countries, this trend is a global one. According to the GlobalWebIndex Survey of over 51K web users, use of social tools is now mainstream in all countries but Japan having over 50% of their population using the tools. Communities are the number social tool being used, with Facebook is the dominating communities, except in Russia, Netherlands, Japan and China where local brands dominate. So with this major focus, how does your company start the journey?
So how do you do it?
Based on working with thousands of clients, below is a way to create your personalized Social Business Agenda.
A - Align your goals and culture to be ready to become more engaging and transparent. Do not underestimate the task ahead of you. Culture eats strategy for lunch. Take a look at IBM’s Social Computing Guidelines as a way to get started!
G – Gain Social Trust focuses on finding your fans, friends and followers, and forming best friends from your tippers or most influential clients or outside parties. It dives into what social trust is all about and how you instill it.
E – Engage through experiences focuses on how a company can engage its clients and employees and dives into gaming, virtual gifting, location based, mobile, or other stellar experiences to drive that engagement.
N – “Social” Network your processes. Since this is about business, figuring out how to add social technqiues to your processes is critical. Think about customer service — adding in Twitter to address your customer’s concerns. Or Crowdsourcing for product innovation, or Communities for incrementing your marketing processes around Loyalty!
D – Design for Reputation and Risk Management! This is the #1 areas of focus for the C level — managing the risk of having your brand online, your employees being your brand advocates, and even your clients becoming your marketing department! I think the value outweighs the risk .. but see how to develop a Disaster Recovery plan as you plan for the worst, and expect the best!
A – Analyze your data! Social analytics are the new black! You need to see the patterns of sentiment, who your tippers are, and listen daily !
9 Levers of Differentiation in Big Data (Social creates alot of data!)
What is big data anyway? It is the flood of information that is available today. Did you know that every day, 2.5 billion gigabytes of data are created in a variety of forms, such as social
media posts, information gathered in sensors
and medical devices, videos and transaction records? Why .. that's Big!
Why is Big Data important? Being able to capitalize of that data gives you better insight and makes you more competitive.
IBM's Institute of Business Value just published a study on the 9 Levers of Differentiation for Big Data. The research makes it clear there are specific activities that can help organizations accelerate value creation and simplify analytics implementation.
Those 9 levers are:
1. Know the Source of Value. Focus on actions and decisions that generate value. Organizations realizing value from analytics solutions are those that can readily measure their impact.
2. Culture. Those cultures that support the availability and use of data and analytics see higher value from analytics and data.
3. Executive Support and involvement. Infusing the use of analytics into an organization’s culture typically requires advocacy and action from the most senior levels of
the organization.
4. Measurements. Evaluating impact on business outcomes.
5. Trusted data and data management practices. Decision makers must have confidence in the data before they will use it to guide their actions.
6. Disicplined approach. Leaders use a financial rigor in analytics funding process.
7. A great software platform. You need integrated capabilities delivered by software tools to take advantage of big data.
8. Organizational confidence in the data and the skills.
9. Focus on Skills. Development and access to skills and capabilities. There is a huge analytics skills gap. Those leaders focus on training a great team.
Download the full report: www-935.ibm.com/services/us/gbs/thoughtleadership/ninelevers/
Characteristics of Mobile Leaders
I was just reading a survey completed by 601 Companies (301 Mature Countries, 300 Growth Countries) that was supported by IBM’s research partner, Oxford Economics . It was done globally with respondents from 29 countries.
Here's the leadership characteristics for mobile leaders:
1. Leaders build apps that unlock core business knowledge for mobile uses. They exceled 2:1 at integrating systems with mobile and are more efficient with app security than non leaders.
2. Leaders manage mobile optimize performance and efficiency. They are more than 2X likely to adopt BYOD and ensure speed!
3. Leaders use insights to engage their clients whereever they are. They are 2x more effective at taking action from mobile data.
4. Leaders are using mobile to transform the way they do business. They are 2X more likely to drive strong ROI. For example, NS Shopping transformed their customer experience with mobile and analytics technologies.
Beware of ghoulish cyber-attacks!
Happy Monday and the week of Halloween!
Today, we are going to talk about cyber-attacks and the best practices to try to avoid them. One of the top vulnerabilities is trust through social networking!
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Friday Social Tip: Spend Time on Your Influencers - The 4-1-1
Spend time on your influencers!
I think this is one of the best social media tips I ever discovered.
First, a definition of an nfluencer. An influencer is someone who influences the rest of the clients and potential clients online and offline, usually about 15% to 20% of your followers or fans!
I discovered this concept in a book by Andrew Davis, author of Brandscaping, The 4-1-1 (for your informtion!) is a way to show value and care to your social influencers.
This concept says that if you communicate 6 things socially, 4 of those 6, or 67% should be showcasing content from your influencers. The other items you should be showcasing are your Point of View or Subject Matter Expertise . The other could be something that is more sales oriented.
Complements of Joe Pulizzi here is a great visual of what this concept is!
The Digital Fishbowl
I overheard today someone discussing not wanting to live their life in a "fishbowl". And then I thought about our social world. We actually do everything in a Digital Fishbowl. The new generation (we call them generation C - connected and in control!) grew up this way and so it feels natural.
But what really are the benefits and the concerns to this new world?
Benefits:
- Sharing of information. Social networking enables sharing helpful information. Did you know that 52% of bloggers are parents who are seeking information to help their family in some way. And there are social support groups for illnesses, and technical support. I love this aspect about sharing in the fishbowl!
- Think global act Social. Social networking allows us the ability to communicate globally. I loved the fact that over 500 friends around the world supported me in my broken leg through Facebook, and twitter. For businesses, this implies that the global view can be learned.
- Social is the ultimate personality test. The digital fishbowl allows us to discover through social analytics the intrinsic traits that include what motivates you, what you believe, and your fundamental needs. Computers can derive people’s traits from linguistic footprints. That hasn’t been widely applicable before, because where do you get those linguistic footprints? Now, you can do that with social media and digital communications we have the big data we need!
- Efficiency. The digital fishbowl enables us to be more efficient. For businesses, they can crowdsource their next product or strategy. Sales can reach more contacts. Video makes our visits more social and less time consuming.
Some Cons:
- Lack of personal touch. The digital fishbowl can be addicting and many I know communicate now mostly through text, tweets, and facebook. You lose something in doing that.
- Anything that you do can leak out. And maybe before you want it to! There is a risk to being social ! (I think the risk of not being social is greater however!)
- You cannot keep negativity at bay -- and digital amplifies it! We see this in schools with cyberbullying and even with some companies. The biggest question that I get asked by small companies is how do I handled untrue remarks.
What do you think? Do you like living in a digital fishbowl?
Social Selling! Best Practice of Engagement!
Have a great cup of coffee and enjoy this week's Social Business Coffee Break!
Today we are continuing our series on Social Selling. Thank you so much for the great response to date!
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TGIF: To #FF or not?
Yes, today is Friday. You will start to see a lot of #FF.
What does #FF mean? Well, starting back in 2009, Twitter fans created this hashtag as a shorthand for Follow Friday.
Should you #FF? YES ! Why? Well it helps you introduce new users to a great social tool. In addition, it allows you to show appreciation and thanks for the followers you have that retweet you, or support your thoughts, and more.
To be authenticate, don't FF just because folks follow you. Do it because you recommend them for a reason.
I like recommending a person and giving great attributes about them, like this:
I avoid doing big groups as to me it doesn't tell me why I should consider following someone.
So given today's Friday ... #FF someone you know!
The Social Sales Team - Knowledge accidents and all!
The Social Sales Team
A good sales team should rarely meet each other. It should, instead, be out meeting customers. It should be working out what your customers want and be maximizing the return for your organization. The problem comes because sales teams have voracious appetites for ideas, comments, case studies, pricing, presentation, market intelligence and so forth. They are generally very poor at following a process and providing forms to fill out and records to keep gets in the way of the sales process. In addition to this, much of what a sales team relies on is experience amongst the members of the team.
The knowledge accidents that occur when they bump into each other in the corridor or at lunch are extremely valuable and efficient to exchange information and catch important snippets. So how do you keep their appetites satisfied, but maximize their time in front of customers?
Make them Mobile
Give them the technology they need to keep in touch easily with the places they need to go to help them in their job. This might be an iPad with a 3G card, or a Mi-Fi device or similar which lets them connect to the office and access your systems.
Collaboration Hubs for Clients
In your social intranet, create communities focused on each of your major customers. Use Wikis, Forums, Activities, Ideation Blogs and all the other tools you need to share everything you have about that customer which would help your sellers. Consider organizing the material around opportunities (perhaps pulled from your CRM system) using tags. That way you can easily find everything about a particular opportunity whilst keeping the structure fluid so that it’s easy to re-use information. For more information on this, please see
Give them some Power Tools
Provide them a social network to interface with other sellers. Teach them how to use the outside social tools . Did you know the most productive sellers in IBM leverage social in their sales process?
One of the best techniques the Sales Team can deploy is to use an informal blog. This lets them express their thoughts, experiences and opinions about the work they’re doing with the customer account without the need for the structure of more formal meeting minutes. It’s in the blog that the seeds of the knowledge accident tree are sown. It’s where short narratives about what’s going on can be captured and stored for the benefit of the rest of the team.
Remember that by putting mobile technology, which is connected to your system in the hands of your sellers, they will be more inclined to participate. If it’s made easy, and they are rewarded for doing so, they will do it.
