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High Impact Social Business:Stories and New PerspectivesDion Hinchcliffe
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Social Business Summit 2011 Sydney | High-Impact Social Business
The drivers for next-generation business
• Pervasive global connectivity
• New friction-less interaction platforms
• Next-gen mobility
• Focus on network effects
• Information superabundance
• Inherent transparency, openness, and broadcast
• The rise of social capital
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(cc) 2011 Dachis Group. Creative Commons. Some Rights Reserved.
Social Business Summit 2011 Sydney | High-Impact Social Business
The current customer engagement landscape
Webinars
social networksP2P video
online video
direct mailmobileapps
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Social Business Summit 2011 Sydney | High-Impact Social Business
The marketplace has reinvented itself in the last half decade
Microblogs
BusinessTradingPartners
World Wide WebCustomers + Public
Trust, Engagement, Reputation
The Social Web
Public Social NetworksInteraction and Social Business
E2.0 Workflow
E2.0 Compliance
Community Mgmt Social Web Tech & Standards
Us
B2C
B2B
CustomerCommunities
WorkerOnline
Community
1.5 billion people
Including how, where, and who we interact and do business with
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Social Business Summit 2011 Sydney | High-Impact Social Business
Social As The New Dominant Global Trend
Source: ComScore Global & Morgan Stanley
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Social Business Summit 2011 Sydney | High-Impact Social Business
Mobile Internet Ramping Up Faster Than Desktop Internet by 5x
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Social Business Summit 2011 Sydney | High-Impact Social Business
Hundreds of public social networks...
8...channel fragmentation
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Social Business Summit 2011 Sydney | High-Impact Social Business
Dozens of internal social channels• E-mail• Text messaging• Instant messaging• Meetings and conference calls• Enterprise 2.0• Social CMS• Knowledge management• Intranets• Online communities
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Social Business Summit 2011 Sydney | High-Impact Social Business
Channel Fragmentation Is Now The Norm
400 social networks with over 1 million users = aggregate audience of about 900 million
2 billion mobile Internet users + 100 millionnext-gen smart phone users across hundreds of device types
Have Become The De Facto Primary Channels for Customer Engagement
+
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Social Business Summit 2011 Sydney | High-Impact Social Business
So Customers Have Moved...
• Mobile • Social• New Digital Channels
And Companies Have Fallen Behind
• Approximately 1 Billion “Digital Natives” Have Migrated In the Last 3 Years
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Social Business Summit 2011 Sydney | High-Impact Social Business
Outdated frameworks and operational strategies often relegate discussions to incremental fixes and piecemeal approaches
Although @ComcastCares has over 10 employees responding in new customer engagement channels like Twitter, they can’t scale.
A proliferation of new social networks and mobile apps are appearing at an increased pace – organizations are falling further behind.
The result – large amounts of waste in fragmented data, customer records, touchpoints, and experiences – leaving companies unable to efficiently reach customers, prospects, and partners.
Companies Know The Problem Will Only Get Worse
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Social Business Summit 2011 Sydney | High-Impact Social Business
Change Keeps Coming: The Rise of Social and Mobile Apps
PepsiCo Digital Chief: “The majority of social interaction will happen via mobile” - Feb 21, 2011
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Social Business Summit 2011 Sydney | High-Impact Social Business
The worldʼs most important channels...
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Social Business Summit 2011 Sydney | High-Impact Social Business
What do new engagement channels really provide?
• Radical reductions in cost of doing business (i.e. 30% reduced support costs)
• Dramatic improvements in customer sat scores
• Real-time response to customer needs & critical situations
• Access to deep pools of innovation
• Revenue growth (increased top-of-line sales and service numbers)
See Case Studies Section
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High Impact Social Business Stories
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Origin Stories for Social Business
• Open Source Software (OSS)
•
• The Search for Steve Fossett
• Innocentive
• AOL
• CIA and A-Space
Social Talent Pool +Problem = Innovation
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Social Business Summit 2011 Sydney | High-Impact Social Business
Whatʼs the best way to interact with someone under 30?
• Have a mobile app on their first screen.
• Those under 30 rank text messaging as their #1 form of communicating, followed by Facebook.
• These are the critical and future new channels in which to have deep marketing effectiveness.
• The primary future of marketing will be in “large scale social experiences.”
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Social Business Summit 2011 Sydney | High-Impact Social Business
How Customer Engagement Is Evolving
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Large Scale Social Experiences
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Social Business Summit 2011 Sydney | High-Impact Social Business
Case Study: HBO
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Social Business Summit 2011 Sydney | High-Impact Social Business
Where is the social business opportunity in workforce engagement?
• Increased levels of productivity that were inaccessible until now• Enablement of tacit interactions on a previously unknown scale
(Source: McKinsey & Company)
Enterprise 2.0 has the potential to
increase productivity in complex
interactions, where previous attempts have largely failed
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Social Business Summit 2011 Sydney | High-Impact Social Business
The 50 Foot Collaboration Rule• Workers are not likely to
collaborate very often if they are more than 50 feet apart:
• Even with traditional electronic aids such as telephone, e-mail, and remote video
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Surmounting this obstacle is now
possible with socialtechnologies
Take Away:
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Social Business Summit 2011 Sydney | High-Impact Social Business
Significant Social Business Examples
• - 50x ROI in high value scenarios
• - 29% reduction in e-mail volume after making social their primary business channel
• and Atos Origin - Eliminating e-mail entirely while moving to social channels
• Gold Corp - $3.5 billion in value generated through
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Social Business Summit 2011 Sydney | High-Impact Social Business
• Telecommunications giant wanted workers to be much more collaborative (driven by the CEO)
• 77,000 employees scattered across the globe previously using primarily process-focused tools like SharePoint
• Began experimenting with Yammer back in 2008, now over 9,300 workers using it
- Users began reporting benefits: “Yammer saved me three days of trying to find who I should talk to about a problem.'”
• Spent 13 months working on formal E2.0 implementation, which rolled out earlier in 2010 on Jive Software
• Users have been mobilizing and self-organizing, such as sales groups that have created social groups to share best practices and internal techniques
From Greg Lowe, Enterprise 2.0 Lead:
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Social Business Summit 2011 Sydney | High-Impact Social Business
Human Resource Implications for Social Business• HR is ground zero for internal and external social
media• Example: CHROs we talk to are fielding requests from
employees to create Facebook groups to collaborate
- Primary Cause: Employees are not given basic collab tools in most firms
- One CHRO at a large financial services firm has received over 50 such requests in 2010 alone
• Increasingly, HR is actually getting in the driverʼs seat- Policies
- Guidance and Support
- Professional Development
- “Air Cover”
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Social Business Summit 2011 Sydney | High-Impact Social Business
Social Business in the Workplace
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Social Business Summit 2011 Sydney | High-Impact Social Business
• 1700 executives from around the world across a wide range of industries
• 69 percent of respondents report that their companies have gained measurable business benefits, including:- More innovative products and
services, - More effective marketing and
customer care- Better access to knowledge- Lower cost of doing business- Higher revenues
Source: McKinsey, September 2009
Show Me The Value: Latest B2C ROI findings:
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Social Business Summit 2011 Sydney | High-Impact Social Business
How do we best organize for Social Business?
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Cross Border Example: Social CRM
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Social Business Summit 2011 Sydney | High-Impact Social Business
How can we have meaningful conversations with a million customers?
Example:
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Social Business Summit 2011 Sydney | High-Impact Social Business
22® 2010 Dachis Group & Intuit. Confidential and Proprietary
The Rise of Social CRM
• Definition: Better, more effective customer interaction that leverages the collective intelligence of the broader customer community to create significant business value.
• Industry leaders include Lithium, Jive, GetSatisfaction, Salesforce, and a rapidly growing host of other offerings
• Most Social CRM vendors are focusing on a broader range of interaction beyond just Q&A
• Social CRM improves customer satisfaction, drives down costs, and increases innovation and growth Industry Lesson: Most SCRM
implementors will reap a ~30% cost reduction
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Social Business Summit 2011 Sydney | High-Impact Social Business
Intuit and Social CRM
Live Community. 7.5 million social support users per year (over 20 million of social support transactions a year.) Used extensively in multiple product lines in their SMB division.
• Long struggled to use software to compete with live human beings (H&R Block, the previous #1 tax preparer)
– Decided to collaborate with customers to help support their users during an extremely time intensive yearly process: tax season
– New process allowed anyone, either workers or customers, to answer customer support questions in real-time
– Greatly lowered abandonment of the product and make TurboTax the #1 product in the space for the first time
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Live Community: Focusing Social Activity on
Customer Engagement Transactions
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Social Business Summit 2011 Sydney | High-Impact Social Business
Mobile Customer Engagement Cases
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Social Business Summit 2011 Sydney | High-Impact Social Business
A new risk: Mobile disintermediation
• Customers want ease, control, speed, and results
• Offerings in a silo or from on perspective are becoming less appealing
• Aggegrators are actively driving disintermediation
• Companies need to move their thinking up a level
• Or there is a good chance they will lose the primary touch point with the customer (re: Google, Apple, PageOnce)
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Social Business Summit 2011 Sydney | High-Impact Social Business
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Social Business Summit 2011 Sydney | High-Impact Social Business
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Social Business Summit 2011 Sydney | High-Impact Social Business
What are the social business imperatives?
• Become digital natives: Invest profoundly in understanding new social business competencies
• Develop engaging social experiences for your workers and customers
• Create high impact social business solutions related to your lines of business
• Reconcile traditional communication, marketing, learning, and HR with social business models
• Experiment while not worrying about succeeding slowly at first
• Design your business for constant change and growing loss of control
New LG Mobile Concept Devices
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Thank you
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