Posts Tagged ‘CMO’

Three Stages of Social Maturity

November 16th, 2010

We have had a series of meetings that highlight the need for those of us in the industry to provide context as to where companies are in the social maturity curve. For companies that are on the cutting edge, this is an easy conversation as they are comfortable with ambiguity and the speed of change.  For others, the experience is different.  Through our conversations,  we’ve  identified the Three Stages of Social Maturity:

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SEC Social Business Framework

October 21st, 2010

Beyond social media and marketing, Social Business is really about internal and external customer experience –a cross-functional responsibility of the entire organization.  To help executives wrap their arms around the key pieces that can be augmented through social efforts, the Social Executive Council (SEC) created the Social Business Framework. This framework is designed to help organizations understand how to align, manage, and bring cohesion to business objectives, company activities, and social solutions. In essence, this framework “operationalizes” social business in a manner that modularizes its components into company-relevant pieces that can then be utilized to build a social roadmap of strategic and tactical steps that facilitate implementation.

This framework also helps executives visually understand the complexities associated with a successful social program, as well as gain clarity on the:

  • Multidimensional benefits of an enterprise-wide social enablement program.
  • The structured business gains when implementing a social communication layer that allows free flow of ideas and reporting.
  • Limiting results gained when assigning social activities to one silo-ed department and/or junior marketing/public relations associate.
  • Opportunity costs of not participating in this program from a financial, efficiency and productivity perspective.

The SEC is an active forum for senior executives to collaborate and adapt the Social Business Framework to their own organization. The impact is too large and too overwhelming to do it alone —the SEC and this framework are here to facilitate the process and help our members gain social market leadership.

Social Business Investment Should be 20% of Corporate Budgets

October 8th, 2010
What?? Are you crazy?
But when you consider social business is really about customer experience; you also realize that customer experience is really an crass-functional, organization wide responsibility. Social media has lowered the cost of communications, opened up the levels of transparency in business that we have never seen. Organizations cannot just assign it to marketing and go about their business. The impact is too large and too overwhelming.
We have seen a tremendous number of CIO and CMO’s tell us that they are struggling with the amount of information being generated in their organizations and they see it growing exponentially. VP’s of HR are seeing the way potential employees engage with organizations changing. Sales and partner organizations are trying to deal with the amount of noise and the speed of change. All of this has impact on our organizations and eventually, we believe, market valuations. Every function is trying to adapt to the speed of change and the amount of information now being readily available due to social media. Social business is not going to work if it is seen as a siloed functional initiative.
We have seen the similar evolution in other technologies; ERP and the Web where the evolution of the market, technologies, and business processes were silo-ed and eventually evolved into cohesive platforms. We are seeing the similar evolution in Social Business with the disruption being as impactful as many of the technologies disruptions that we have seen in the last few decades.
We are seeing at the project level where “social” projects are really 80% traditional and 20% social, but the sequencing, priority, and objectives look radically different.
If the customer experience is fundamentally going to change from the “over-automated” to a semi-automated, more personalized model, then your business systems and processes, even your people are going to have to adapt. 20% may be too little, but with a 3-5 year plan and systemic and consistent innovation; companies will be positioned to succeed.
The alternatives would be to look at the 62, all market leaders, of the Fortune 100 companies that got caught and replaced on the list of the Fortune’s biggest companies. They got caught flat-footed, or too invested in their business models to adapt to the web. Competitors caught them from behind and grew much faster. Many aren’t even around today.
This is why the SEC is so valuable. The exchange of ideas with other business drivers, the collaboration around why, what, and how… and a small enough pond to enable all of us to see the real “best in class” partners to help us deliver within our organizations.

“What?? Are you crazy?”  Ok, when you pick yourself off of the floor, consider the following….

How much do you spend on customer relationships? No just CRM, not just marketing, but all of the systems, processes, and people to support customers. If you are like most companies, you are spending probably 90% related to customers in some way. If the customer experience changes radically, 20% may not be enough.

But when you consider social business is really about customer experience; you also realize that customer experience is really an crass-functional, organization wide responsibility. Social media has lowered the cost of communications, opened up the levels of transparency in business that we have never seen. Organizations cannot just assign it to marketing and go about their business. The impact is too large and too overwhelming.

We have seen a tremendous number of CIO and CMO’s tell us that they are struggling with the amount of information being generated in their organizations and they see it growing exponentially. VP’s of HR are seeing the way potential employees engage with organizations changing. Sales and partner organizations are trying to deal with the amount of noise and the speed of change. All of this has impact on our organizations and eventually, we believe, market valuations. Every function is trying to adapt to the speed of change and the amount of information now being readily available due to social media. Social business is not going to work if it is seen as a siloed functional initiative.

We have seen the similar evolution in other technologies; ERP and the Web where the evolution of the market, technologies, and business processes were silo-ed and eventually evolved into cohesive platforms. We are seeing the similar evolution in Social Business with the disruption being as impactful as many of the technologies disruptions that we have seen in the last few decades.

We are even seeing it at the project level where “social” projects are really 80% traditional and 20% social, but the sequencing, priority, and objectives look radically different.

If the customer experience is fundamentally going to change from the “over-automated” to a semi-automated, more personalized model, then your business systems and processes; even your people are going to have to adapt. 20% may be too little, but with a 3-5 year plan and systemic and consistent innovation; companies will be positioned to succeed.

The alternatives would be to look at the 62 companies during 1989-99, all market leaders, of the Fortune 100 companies that got caught and replaced on the list of the Fortune’s biggest companies. They got caught flat-footed, or too invested in their business models to adapt to the web. Competitors caught them from behind and grew much faster. Many aren’t even around today.

Is Your Business Over-Automated?

October 6th, 2010

I have never heard anyone tell me that a business is over-automated, but I think it should be a term and concept that should enter into the business lexicon ASAP. I would define over-automation as the mechanical, impersonal, and crappy customer experience that I get when I have to engage with a large enterprise with lots of customers and too many bright people thinking about the bottom line.

I will pick on Blockbuster for a minute. Blockbuster, in its heyday, was a powerhouse in the movie business that is, as of this week, in bankruptcy. As a customer, you could tell that the company designed their customer experiences to maximize profitability; hence the late fee model that made more money than the original rental fees.

On paper, this is a great idea. In execution, it pissed off a lot of customers and, I would contend, led to the gap in trust that opened the door for Netflix. I really like the visceral experience of browsing isles looking at the sea of titles and seeing which one stands out. I like doing the same in bookstores. Online doesn

5 Social “Truths”

February 18th, 2010

We, Social Gastronomy, hold these “truths” to be self-evident. These beliefs are a synthesis of our learnings from our social consulting. These are the foundational beliefs that are core to our practice; from analysis, planning, consulting, to execution.

  • Shift in buyer behavior is due to social media technology disruption on par with other major technology shifts
  • Social market leadership is becoming a critical business performance indicator
  • Social media technologies are better enabling the customer experience to become more customer-centric; both from a process and online community perspective
  • Unstructured social interactions can be integrated into quantifiable business performance metrics to enhance business intelligence
  • Key to social market leadership is social enablement of each stage of the customer lifecycle