Social Business Studies: The Status Quo and how to leverage the Social ROI

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Although IBM is doing a lot to make people understand the differences between Social Media and Social Business, managers are still struggling to suvive in the social web era. As companies are trying to understand and find the secret sauce of social ROI, only 13% of IT professionals were said to be successful with their internal networks. It even goes as far as companies giving away incentives in the amount of 10.000 USD for those that can provide positive ROI from their social business efforts.

Now, the IBM Institute for Business Value published a report, called The Business of Social Business: What works and how it’s done. The study surveyed more than “1,100 businesses around the world and conducted extensive interviews with more than two dozen widely recognized leaders in social business”.

And these guys had some answers, basicallly 3 main topics came out as their main ROI aspects:
a) creating valued customer experiences
b.) driving workforce productivity and effectiveness
c.) accelerating innovation.

And the final numbers? How about the ROI? Well, there are two other studies that need to be mentioned when quoting this study: the works of Deloitte and McKinsey. The McKinsey Global Institute study found that the top-line growth for Social Business can improve between 3 and 11 percent, while productivity can be enhanced by 2 to 12 percent.

The other study by Deloitte explains that 41% of responding business executives believe social networking helps to build and maintain workplace culture. Compared to the just 21% of employees with the same view, these results illustrate a massive perception gap between business leaders and their employees. Furthermore, 45% of business leaders think that Social Media has a positive effect on the workplace culture (vs. 27% of employees) and 38% believe it allows for increased management transparency (vs. 17%).

Still, it also suggests that most companies have best prctise guidelines in place but still worry too much about those guidelines in these changing times that comes alongside the employees’ use of Social Media. They demand a better workaround process concerning the risks.

http://www.socialbusinessnews.com/how-to-translate-social-business-into-bottom-line-results/

However, these might sound obvious to those people familiar with Social Busines in general, all studies emphasize the importance of the cultural aspect of Social Business.  Reading through them, they give straight hints to how to make your business culture become social-driven…
1. Figure out how to incorporate social metrics into traditional efficiency processes.
2. Be clear on the risks involved and how to manage them.
3. Although managers hate this word: change management. It still is one! nevertheless, it will nonetheless require tried and tested techniques to influence corporate culture and performance.

With a sub-sample of Social Business savy companies the IBM study makes clear that the percentage of companies using Social Business for promotional benefits will increase slightly (from 71% to 83% in two years). The amount of businesses that use Social Business to generate leads and revenue will increase dramatically (from 51% to 74% in two years). Another massive benefit will come from post-sales support which is expected to increase form 46% to 69%.

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Ein Kommentar zu "Social Business Studies: The Status Quo and how to leverage the Social ROI"

  1. zobacz dalej am 20.09.2013 09:15 

    zobacz dalej

    Social Business Studies: The Status Quo and how to leverage the Social ROI

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