And yet despite all the strategic planning most firms to progress or grow sales, marketing, and operations, they forgo including their digital footprint. The trend that we are seeing especially with mid to large sized organizations is that… social business activities at some firms aren’t aligned … With anything! For those firms, “doing” is all that counts. And a digital muddle is the result. Defining the audience, matching social business methods and messaging to the audience, creating compelling content for engagement and measuring success — all of these are part of the doing. But if these efforts do not advance the firm’s strategic goals? Wasted time, effort and investment are the only real outcomes.
Social has become an integral part of its efforts to achieve superior economic returns from better strategy execution (the Execution Premium).
Before your organization goes shopping for guidance about your online social initiatives, consider the above and ask yourself which kind of advice will best serve your needs. Think about how the different players view the opportunity to work with you, the value and offerings of the different players, their core competencies and their revenue models. In the end, it will be up to you to select best partner for each stage of your online social business and social media marketing needs.
An infographic based on research about CMO and CIO collaboration
You’re firm is getting the hang of becoming a socially enabled enterprise. No longer doing isolated skunk works social media projects, your firm got organized – strategic, in fact. You have a clear handle on your social media accounts, tools, metrics, a governance policy and even an escalation path if things go awry. This is quite an accomplishment for your organization and its leadership, as you are well on your way to becoming a socially enabled enterprise. But this is not the end of the journey; in fact it is just the beginning. The next big, exciting step is to create a social business center of excellence (COE).
The impact of social business is significant and changes the way organizational leadership – especially CIOs and CMOs – problem solve. While few would disagree with this statement, we have the data to back it up! In September, Oracle, Leader Networks and Social Media Today started sharing the findings of a two-part study on social business. This study examined the perspectives of of 925 Marketing and IT leaders from over 500 organizations around the world in the spring of 2013, gathering insights from over 20 industries and 52 countries. And now, after hours of number crunching and analysis, are able to share Part II of the research; Socially Driven Collaboration.
Does your IT and Marketing team collaborate on social business projects? Should they? What would happen if they did? What is the impact of IT and Marketing collaboration due to social business? These are the questions that Oracle, Leader Networks and Social Media Today examined in a recent research report entitled Socially Driven Collaboration that explores how each of these groups perceives the opportunity for increased collaboration as their organizations evolve towards becoming socially enabled enterprises. It is rather sizable mixed methods study of 925 Marketing and IT leaders from over 500 organizations around the world from over 20 industries and 52 countries and includes in-depth interviews with Paul Gillin, Shell, Chubb & Son and Whole Foods. While the study report won’t be available for download until next month, I wanted to share some of the highlights and the opportunity to listen to a webinar.
To explore how organizations are leveraging social technologies and practices, Oracle, Leader Networks and Social Media Today partnered to survey more than 900 marketing and technology executives from organizations around the world. The results showed that transitioning to a socially enabled enterprise, also known as a social business, is a key priority for business executives. The study also highlighted the challenges organizations need to overcome to realize the potential of social technologies and practices.
Social business is becoming a transformational strategy for companies to get closer to their key stakeholders in innovative ways. ROI, metrics, strategic alignment, operational impact of social business – this is what it is all about!