Posts Tagged ‘business impact’

When it is Appropriate to Outsource Your Social Business Strategy

March 8th, 2011

This could be my shortest post ever… in a word – “NEVER!”

Seriously, biggest mistake that we are seeing senior executives make is to defer to an “expert” their strategic responsibility.

Why are some executive doing this?

  1. Not Comfortable – The social technologies and the interactions don’t seem natural to an older generation of executives that is used to a more straight forward business model.
  2. Trust the Expert – The experts, whether external or internal subordinates, seem to talk a really good game. Whenever a business question comes up, there is a very technical and detailed answer that is designed to lull the listener to sleep
  3. Don’t See the Business Value – Social hasn’t hit the Top 100 things in their to-do list. Yet….
  4. Don’t Own It – social is crossing lines of traditional responsibilities. We are seeing a lot of organizations decentralizing the management and allowing the business functional groups to do their own thing. The problem is that you can’t create strategic impact by managing tactics.
  5. Moving So Fast – blink and you find that the technology is accelerating. The amount of data, noise, and speed of change is just overwhelming.

Continue reading “When it is Appropriate to Outsource Your Social Business Strategy” »

Crossing the Social Business Rubicon

November 12th, 2010

Ok, it flipped in my head and I can’t go back. Somewhere in the course of the last several weeks the conversation changed for us. We no longer provide social strategy. We stopped having the “social” conversation and began having the core business conversation. I don’t mean figuratively, like “hey, we are now business consultants,” but rather the real value proposition on how to move the dial for organizations from a core perspective. Social business is really becoming business value for us. Points in case:

  • “We have X number of Facebook fans, what do we do with them? How do we create value?” It flipped when the conversation turned to “If your facebook fans are less than 1% of your customers, it isn’t very important” to “we need to start with the customer’s motivations for buying, engagement, and the catalysts for purchase. Social is one way to engage with them, but it has to be thought of in terms of how do we deliver a better value proposition. This wasn’t a theoretical, feel good strategy conversation as it went into some hard core discussion about commerce, measurement, customer insight, etc around monetizing these relationships and demonstrating value to the business. Social is a means to an end.
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Flashback to Web’s Impact on American Business

September 27th, 2009

As part of the preparation for a recent presentation, I pulled together research on the Web’s impact to the Fortune 100. Our belief is that social media will be as disruptive as the web for a number of reasons; which will each have their own posts over the next several weeks;

  • Addresses some of the challenges with search engines
  • Represents a shift from intellectual driven purchase management to a more emotional model
  • Provides contextualization for people to organize information based upon personal lenses
  • Represents the transition from static information management to a more dynamic model (only going to accelerate)
  • Evolving to enable people to address the challenges of information overload; ie. inbox, search, communications, etc. Social media will enable people to begin to sort through the morass of information. (Yes, it is contributing to the challenges today, but the tools are emerging to assist in attacking these problems in unique ways.)

Comparison of the Fortune 100 lists from 1969, 1979, 1989, 1999, and 2009