A decade ago, e-business changed the way we use the internet forever when people and organizations went from browsing to buying and from surfing to selling. The internet evolved from being a new way of communicating and getting information to becoming the way that we conduct business and drive real business value.
Integrating social into your workforce and into customer experiences creates real business outcomes. This can happen in various business processes. On the slide are just a few examples of real customer results. Customer service: Profitable growth depends social, mobile customer self-service $44.6B lost in one year due to online customer experience problems (6) Sales: Improving sales skills and matching the right people can help close more deals Top 10% of sellers often generate 30-50% of a company’s revenue. (2) Product Development Accelerating innovation to deliver better products faster In software, the top programmers write 10 times the code of average performers (2) Marketing Gather insights into what customers will buy next 81% received product purchase advice from friends and followers through a social site (7)
For example, how does social business and talent management to help create a smarter workforce and enhance the sales process? 1. Build Skills Build your sales team in real time - identify, find and on-board the skills you need to serve your clients Understand who your top contributors are, where they came from and how to increase retention Rapidly build key skills across sales teams to increase their effectiveness to sell your latest products 2. Transform Culture & Processes Leverage consulting services to transform your organization culture and processes to be agile and effective 3. Engage Clients Use predictive analytics to gather insights into what customers will buy next Build sales communities to share best practices and discover customer needs Connect sellers with the right experts before they engage your clients and engage clients via social tools
There is a tremendous amount of unlocked value in social and the business benefits are tangible and significant. According to the a recent McKinsey study – The Social Economy: Unlocking Value and Productivity Through Social Technologies -- Organizations that leveraged social technologies in the workplace experienced increases in the productivity of their knowledge workers of up to 20-25% Additionally, by leveraging social business technologies to connect more effectively with customers, organizations in industries such as consumer packaged goods have increased margins by up to 60%.
Business leaders recognize the importance of being connected. This is being driven by senior leaders across every industry to connect with customers in new ways, help employees be more efficient organizations, and their ecosystems for competitive advantage. IBM conducts surveys with key C-suite stakeholders every two years. 16% of CEO's say they use social media today as a top way to engage with customers. However, they expect their use of social media to more than triple in the next 5 years to 57% of CEO's will engage clients through social media, up 256% . Social media will become the most utilized customer interaction method behind face to face meetings. Winners are also recognizing that connecting their organizations and employees is a key differentiator. In fact, high performing companies in the survey are 30% more likely to recognize the need in more openness and transformation. This is driven by the recognition that new technologies are the single largest external force (73%) to improve next three year performance, which is up 6 points. Top 3 CEO Priorities 1. Empowering employees through values - Organizational openness introduces new opportunities to create value through employee collaboration 2. Engaging customers as individuals - Differentiate through better data access, insight and translation into actions 3. Amplify innovations with partnerships - Partner for innovation, disrupt, and derive revenue from new sources
An upcoming study from the IBM Institute for Business Value titled, "The Business of Social Business" reveals that executives across multiple industries around the world are increasing their spending in social business, demonstrating the interest and value that organizations are placing on social. 62% of respondents said it is likely they will increase their social business investment over the next 3 years 46% of respondents said that their investment in social business has increase in 2012
The Need: 100-yr old Italian food company needed to better market its products to a younger audience. Amadori uses social media to listen and learn about these their target customers' preferences and integrate those insights into their digital marketing campaigns. The Solution: IBM Customer Experience Suite allowed them to quickly create highly interactive websites that integrate with social networking sites (like Facebook and YouTube). Through the dialog within the four microsites and using sophisticated predictive analytics, Amadori is able to track and visualize what is said about their brand and products on social networks, blogs and forums- in real time- uncovering trends and opinions. Amadori uses this information to identify and predict consumer buying preferences, refine their digital marketing campaigns to generate more sales, and use the information to develop new products The Benefit: The solution boosted their ability to monitor and learn about their brand, improve their social media presence by 100% (45k Facebook fans in less than one year), build direct channels with new segments and respond 40% faster with new web sites.
The Need: 100-yr old Italian food company needed to better market its products to a younger audience. Amadori uses social media to listen and learn about these their target customers' preferences and integrate those insights into their digital marketing campaigns. The Solution: IBM Customer Experience Suite allowed them to quickly create highly interactive websites that integrate with social networking sites (like Facebook and YouTube). Through the dialog within the four microsites and using sophisticated predictive analytics, Amadori is able to track and visualize what is said about their brand and products on social networks, blogs and forums- in real time- uncovering trends and opinions. Amadori uses this information to identify and predict consumer buying preferences, refine their digital marketing campaigns to generate more sales, and use the information to develop new products The Benefit: The solution boosted their ability to monitor and learn about their brand, improve their social media presence by 100% (45k Facebook fans in less than one year), build direct channels with new segments and respond 40% faster with new web sites.
The Need: 100-yr old Italian food company needed to better market its products to a younger audience. Amadori uses social media to listen and learn about these their target customers' preferences and integrate those insights into their digital marketing campaigns. The Solution: IBM Customer Experience Suite allowed them to quickly create highly interactive websites that integrate with social networking sites (like Facebook and YouTube). Through the dialog within the four microsites and using sophisticated predictive analytics, Amadori is able to track and visualize what is said about their brand and products on social networks, blogs and forums- in real time- uncovering trends and opinions. Amadori uses this information to identify and predict consumer buying preferences, refine their digital marketing campaigns to generate more sales, and use the information to develop new products The Benefit: The solution boosted their ability to monitor and learn about their brand, improve their social media presence by 100% (45k Facebook fans in less than one year), build direct channels with new segments and respond 40% faster with new web sites.