A (Social) Business in Motion - What does this mean?!

I was just at the IMPACT conference, and a new term came up  --- A business in motion!  I loved it.    It is dynamic and a living organization!  A business in motion is ready to meet customers on their terms, with a complete understanding of each customer, used to create deeper, more meaningful engagements.

Here's what I learned about in terms of the imperatives for a Business in Motion!
5 key imperatives:

  1. Put mobile first, because this is the first point of engagement for your customers, partners and employees.
  2. Social Everywhere.   Reinvent the way you work in the market -- this is the new norm.
  3. Reinvent your design and business processes to meet new expectations for instant, seamless and insightful interactions
  4. Adopt a flexible and secure integration model so that back-office systems can keep pace with rapid change
  5. Be Insight and Data Driven to uncover opportunities, build efficiencies and make informed decisions

What do you think?


Social Business Coffee Break featuring CAT! (No, not grumpy Cat!)

Happy Monday and welcome to our Social Business Coffee Break!

Today we feature Caterpillar Inc. a leader in building the world's infrastructure, and in enabling progress for millions of people around the globe, .as a Best Practice Social Business!

[youtube=http://www.youtube.com/watch?v=9nSjpxXGQjA&feature=youtu.be]


SoMo -- Social Mobile Beginners View!

Ah!  Happy Monday!  My 2 favorite things in one coffee break -- mobile and social!   SoMo!

This is just a quick introduction to the combination of both with some facts and figures.

Enjoy!  And provide me feedback!

[youtube=http://www.youtube.com/user/SOASandy?ob=5#p/u/0/gMNTx3LX3SA]


Link Internal and External Social for Higher Benefits!

Hot of the presses!

  • 96% of companies don’t link internal & external efforts – Dachis Social Business Council, August 2012
  • And if you do link them together as per McKinsey's Web 2.0 Survey – calculating the average benefit increase of Fully Networked compared to only Internal or External -- showed that “Fully Networked” companies achieve 3.6X higher benefit increase.

So how about you?  Are you linking the 2 together?


Social Business Tip of the Day! LinkedIn Mentions

Social Media Tip of the Day!

Did you know that LinkedIn just announced a new function – mentions – which makes it easier to engage with your network by mentioning connections and companies in conversations on LinkedIn. Just start typing the name of a connection or a company in your status update box or a comment field and select the person from the list that appears in the drop-down.

The person or company you mentioned will receive a notification that they have been mentioned. Mentions will be rolled out to English-speaking members first.


Welcome to Social Business all you Pragmatics!!! A Video Blog!

Welcome to our Social Business Coffee Break !!! I am welcoming all you pragmatics to the social era!

Trying to get adoption and use of social from these folks are very different for companies than the leaders and visionary!

I'd love your thoughts!

[youtube=http://www.youtube.com/watch?v=WTJ1z_DeDqU&feature=youtu.be]


Very cool Social tool for Women in Businesses - the Women's ToolBox !

I have been fortunate to meet an incredible group of women through my professional and organizational roles, and one person who shares my passion for expanding opportunities would like to encourage more women to connect with each other and access great resources through her organization, The Women's Toolbox. Janet Powers, the Chief Executive Connector, will -- in her own words -- help you FIND Your Voice, SHARPEN Your Skills, SHARE Your Expertise and EXPAND Your Network. Its tagline (“Practical Advice for Busy Business Women”) illustrates its mission is to empower, educate, and entertain women.

I had the opportunity to talk with Janet at a lunch I hosted for female executives during our recent global customer event IBM Connect, and she suggested we work together in our support of women's empowerment. As part of her commitment, I am excited to share that if you become a new member of The Women's Toolbox, for a limited time you will receive a copy of my book, Get Bold: Using Social Media to Create a New Type of Social Business. I hope you will learn more about the resources available from Janet's organization, and that you will share the opportunity to participate with the women in your networks as well.

Join online at

http://womenstoolbox.com/join-today/.


Does Social Require you lose control (of your brand?!)

Is losing control of your brand a good thing or a bad thing?

We are used to operating with the idea that we have to protect the brand.   How do we lose control of our brand so that our customers have a role in shaping our brand as much as we do?

Well, we know that your brand is not what you say it is, but what everyone else decides.  Social enables you to influence your brand and engage where and how others want to talk.   You can identify and engage influencers and unleash your employees as a “digital army” by building  with customers and convert them to brand ambassadors

If you use Social Analytics to identify needs in the marketplace for specific products, features, or process enhancements by listening and this could allow you to tweak your brand value prop.   Leveraging crowdsourcing to engage employees, partners, and even customers in innovation discussions increases the number and sources of new ideas; but also enables the best ideas to become more visible and mature through collaboration.

I LOVE having brands be leveraged by clients is great -- and I don't think that it is anything new.   Companies now orchestrate and can shape the brand not based on what we are selling but on their character, their interactions, their experiences.

Check out our IBM CMO Jon Iwata!

[vimeo http://vimeo.com/62205426]


Social in Insurance -- Overhyped or unused?

With over 66% of top financially performing companies leverage social in their processes and over 80% positive impact on trust for CEOs who openly communicate on social,  social can mean power to some and hype to others.

In the next 3-5 years the use of social media by Insurers will increase from 4% to 51% as one of the most important mechanisms to engage customers according to IBM CEO study.

Is this because of hype?   I don't think so.   Financial Services has always been a “social” industry – we are now just shifting from F2F and phone to more online interaction; mirroring the shift of our customers and employees.  The leading FSS companies are using social to explain changes to the financial environment and to provide increased clarity around specific products – partially due to changing regulatory requirements, but also to build trust.

Financial Services as a sector suffers from a major trust gap – social is a powerful capability for building trust

Financial Advisors are using social to engage clients and prospects – using social compliance capabilities to provide support for suitability and records retention.  Many financial companies have embraced external social media for brand promotion, engagement, and marketing. Leading financial companies have also brought social capabilities inside the firewall.  Regulatory requirements necessitate active social compliance monitoring and reporting

Complex, expert-oriented activities (e.g. commercial or specialty underwriting) can be faster (social collaboration) and more accurate (engaging the right people).  Networking social capabilities into traditional core insurance and financial services business processes and legacy systems can create dramatic value while leveraging investments you have already made.

Today I am at Prudential for their Technology Leadership Conference and we will discuss these topics and more!  I'd love your thoughts - especially if you are in the industry!


Social Business Governance: Relationship over Rules

I have been meeting with a lot of clients and see a lot of discussion around governance and structure required.   In a survey done in 1Q 2013, we see 2.7X the focus on developing social business governance. 
 
Because there is no natural organizational owner of “social,” an effective governance structure must balance  responsiveness and inclusiveness. 

Being inclusive means engaging stakeholders early and broadly to build shared understandings and expectations.  Responsiveness provides for clear accountability and speed in decision making.  The  challenge is to build governance structures and processes that accomplish both.

Having a relationship with your employees not just rules makes a huge difference in how successful you are!

Achieving the transformative value of becoming a Social Business involves connecting all parts of the organization (including channels, partners and customers) in new ways.  It often requires quite new ways of managing people, flatter organizations, and significant cultural change.  While becoming social provides individual flexibility, it’s important that the change achieves the unifying value for the company  of the new goals and culture. 

A strong governance program facilitates coordinated change.  The governance is led by two complementary leadership groups who’s members include the major “organizational structures” (e.g., LOBs, Finance, Supply Chain, HR, Channel Management,  …). 

The first, the Executive Sponsor Group, defines the strategic linkage and goals   of becoming a social business.  Members are leaders across the organization.  The second is a Digital Council.  These are executives who are responsible for the organization-wide, execution creation of the Social Business plan.  The representatives are often the social business leaders in their respective LOBs and functional areas, which ensures focus on the vertical and horizontal needs.

governance

The Digital Council focuses on the key areas of a social program:

  • Community Management – Provides a common approach to drive change and adoption at and across the LOB and functional level.  It includes actions like community management, Content Management, community analytics, and best practices.  While the focus is value at the  LOB / functional level, the governance processes has a Center of Excellent that shares best practices to create a common social voice and approach across and outside the organization. 
  • Metrics and Measurement -  Covers all elements of data and measurement.  Starts with analytics / listening to guide the where and how to engage socially.  This includes internal analytics of social networks, expertise, and projects, as well as the external listening and analytics.  This group also is responsible for creating and automating the overall program measurements to track success, progress on the plan, and social return.
  • Reputation and Risk Management – Focuses on 3 main areas:  1. regulatory risk and compliance(if relevant),  social record retention for general discovery, and other legal and financial risks;    2. policies, guidelines and processes for the organization and associates to participate in social media (for example, IBM’s Social Computing Guidelines); and    3. proactively managing the organization’s reputation and having a defined plan to respond to various levels of negative media or emergencies.
  • Standards – This group focuses on process and technical standards for a social business.  While LOBs, major business functions, etc. require the freedom to build their social programs tailored to their needs, the Standards group ensures that the overall company can be nimble in connecting across boundaries in ways not always anticipated.  Standards for brand and ways of connecting with partners, channels, clients, etc. ensure that the company is viewed as coordinated and focused on needs vs. a “collection of parts.”   On the technical side, a common social business framework enables the new ways of working.