From Social Media to Social Business (updated)
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The presentation covers a 3 point strategy and real examples on how to socially enable your applications to make your Business more effective and efficient Integrate Social into YOUR Business Processes Social ROI – What’s In It For the Business (WIIFB) Social Adoption – What’s In It For Me (WIIFM) NEW! updated use case examples
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From Social Media to Social Business (updated)
- 1. 1 © 2014 socialadoption.com From Social Media to Social Business Peter H. Reiser – Social Business Geek peter.reiser@socialadoption.com
- 2. 2 © 2014 socialadoption.com Twitter @peterreiser
- 3. 3 © 2014 socialadoption.com The Customer Experience Lifecycle PURCHASE RECOMMEND MAINTAIN RESEARCH NEED RECEIVE USE 1 2 3 4 5 6 7 8 SELECT BUY OWN Support & ServeMarket & Sell
- 4. 4 © 2014 socialadoption.com WEB CONTACT CENTER IN-STORE CATALOG MOBILE EMAIL SOCIAL NEED / RESEARCH SELECT PURCHASE MAINTAIN / RECOMMEND RECEIVE / USE A complex customer journey CUSTOMERS DEMAND A BETTER EXPERIENCE Read Reviews Comparison Site Web Search Ask Facebook Friends For Recommendations Visit Branch Office Chat Email Order Confirm w/Rec Pickup Local Store Tweet About Purchase Experience Ask for Help on Community Chat Room Product Info Order Online Kiosk Change Order Select Product Browse Catalog Order Online Call for Info about Add-on Accessories
- 5. 5 © 2014 socialadoption.com5 let’s do a reality check
- 6. 6 © 2014 socialadoption.com Enterprise Social Landscape Product Development Marketing HR IT Customer Service IDEAStorm Monitoring Recruitment Collaboration CommunitiesSocial Tools Silos Social Graph Silos
- 7. 7 © 2014 socialadoption.com Source: http://www.global-integration.com/resources/cartoons I need a urgent response for a customer complaint via Twitter ....
- 8. 8 © 2014 socialadoption.com The Novelty Is Over Source: http://www.edelmandigital.com/2012/03/05/weaving-social-layer-across-your-organization/ Social Media Social Business
- 9. 10 © 2014 socialadoption.com Social Business Strategy
- 10. 11 © 2014 socialadoption.com Social Business Strategy Socially enable your Processes to make your Business more effective and efficient
- 11. 12 © 2014 socialadoption.com Social – Tools – Graph - Adoption Integrate Social into your Business Processes BID Mngt. Product Creation Market Sell Deliver Support Business Applications IDEA Storm Social Monitoring Social Discovery Social Collaboration Communities Social Insight
- 12. 13 © 2014 socialadoption.com The untapped Power of Social Insight Customers “Why should I pay a checking fee if other banks don’t charge one?” Workforce “Wow – our Social CRM found the right internal expert with one click ...” Competition The Public “Service of my Bank xYZ is ridiculous .. need to switch .. ” “RT @finwiz Barclaycard Ring Fees: Want to get rid of the 1% Foreign Country Fee?
- 13. 14 © 2014 socialadoption.com Social Media Objective & KPI’s
- 14. 15 © 2014 socialadoption.com Social Media Metrics
- 15. 16 © 2014 socialadoption.com Open Source SNA Tools Examples • Node XL (SNA integrated into Excel) – http://nodexl.codeplex.com/ • Gephi (visualization and basic network metrics) – http://gephi.org/ • NetLogo (modeling network dynamics) – http://ccl.northwestern.edu/netlogo
- 16. 17 © 2014 socialadoption.com Social ROI (WIIFB) BID Mngt. Product Creation Market Sell Deliver Support Enterprise Social Collaboration - secure – scalable – compliantSocial - Capabilities – Graph - Adoption Business Applications metricsmetricsmetrics metrics metrics
- 17. 18 © 2014 socialadoption.com Innovation Management BID Mngt. Product Creation Market Sell Deliver Support Enterprise Social Collaboration - secure – scalable – compliantSocial - Capabilities – Graph - Adoption metricsmetricsmetrics metrics metricsBusiness Applications900 customer ideas IDEAStorm
- 18. 19 © 2014 socialadoption.com19 Source: http://www.lithium.com/pdfs/books/lithium-success-book.pdf
- 19. 20 © 2014 socialadoption.com Business Applications Social Publishing BID Mngt. Product Creation Market Sell Deliver Support Enterprise Social Collaboration - secure – scalable – compliantSocial - Capabilities – Graph - Adoption metricsmetricsmetrics metrics metrics 25% increase in customer retention Social Marketing
- 21. 22 © 2014 socialadoption.com Business Applications Sales & Delivery Social Re-Use versus Win/Loss Rate and Project Margin BID Mngt. Product Creation Market Sell Deliver Support Enterprise Social Collaboration - secure – scalable – compliantSocial - Capabilities – Graph - Adoption metricsmetricsmetrics metrics metrics14% higher Win Rate 20% higher Margin Social Selling Social Collaboration
- 22. 23 © 2014 socialadoption.com CRM + Communities Recommendations based on in context CRM and Social Insight
- 23. 24 © 2014 socialadoption.com ROI on Social Collaboration (Sun Microsystems) ROI Calculation Revenue : 11,000 Millions 80% of projects in AIM KMS: 8,800 Millions 14 % average Re-Use: 1,320 Millions Average win rate improvement : 10 % Source: http://socialadoption.com/2011/12/12/social-roi-and-social-value-models/
- 24. 25 © 2014 socialadoption.com Business Applications Customer Service Community Driven Support BID Mngt. Product Creation Market Sell Deliver Support Enterprise Social Collaboration - secure – scalable – compliantSocial - Capabilities – Graph - Adoption metricsmetricsmetrics metrics metrics 100% Community answered Social Customer Support
- 25. 26 © 2014 socialadoption.com26 Source: http://www.lithium.com/pdfs/books/lithium-success-book.pdf
- 26. 27 © 2014 socialadoption.com ok – and how to drive Social Adoption ?
- 27. 28 © 2014 socialadoption.com Social Adoption + = WIIFM Source: http://socialadoption.com/2008/09/16/community-equity-a-way-to-measure-social-capital-for-an-enterprise/ (Measuring) Social Capital Maslow Social Value Model
- 28. 29 © 2014 socialadoption.com Understand your Communities Sales Team Tech Team Next Fiscal year - you can choose between: 5% more salary or work on a cool project Source: http://socialadoption.com/2011/12/12/social-roi-and-social-value-models/
- 29. 30 © 2014 socialadoption.com 1. Social Value model (Motivational Design) • Motivation (Behaviorism Theory) • Intrinsic • Extrinsic • Reward models (Cognitive Evaluation Theory) • Tangible/intangible rewards • Excepted/un-excepted • Activity Loop • Motivation -> Action -> Feedback • Fun Engagement Progression
- 30. 31 © 2014 socialadoption.com Measuring Social Capital Example Social Equity Activities Me Contribution create modify Participation view rate comment Re-use People ActorsValue per ActivitySum of Value Person Equity Information Equity Community Equity
- 31. 32 © 2014 socialadoption.com In Context Social Value Evaluation Info 1 IQ=10 Info 2 IQ=20 Java TQ=30 Ruby TQ=20
- 32. 33 © 2014 socialadoption.com Tag Equity Info 1 IQ=10 Info 2 IQ=20 Info 3 IQ=30 Java TQ=60 Ruby TQ=60 Info 4 IQ=40
- 33. 34 © 2014 socialadoption.com Tag Equity Info 1 IQ=10 Info 2 IQ=20 Info 3 IQ=30 Java TQ=60 Ruby TQ=60 TQ(Java)=30 TQ(Ruby)=20 Info 4 IQ=40 TQ(Java)=30 TQ(Ruby)=40
- 34. 35 © 2014 socialadoption.com User Benefit (WIIFM) Social Ranking Recognition (Incentive) Expertise and Skills discovery
- 35. 36 © 2014 socialadoption.com Social Value Model • WIIFM – Recognition Kudos – Rewards Payback Points • WIIFB • 100% community support • NPS of 73% • 84% overall customer satisfaction • Community Type – Mobile Users • Community Contributions – Social Support – Social Innovation – Social Marketing
- 36. 37 © 2014 socialadoption.com Social Value Model • WIIFM – Recognition Kudos – Rewards Payback Points • WIIFB – 25% increased customer retention – 50% decreased customer complaints – 10Mio anualized benefits • Community Type – Credit Card Holders • Community Contributions – Social support – Social Innovation – Social Marketing
- 37. 38 © 2014 socialadoption.com Sun Microsystems Engineer Principal Fellow Senior Engineer HR Levels HR Promotion Process Peer Review Candidate Pipeline Criteria's Internal Outreach External Outreach Intellectual Properties .... .... Over average Social Equity Source: http://socialadoption.com/2011/12/12/social-roi-and-social-value-models/
- 38. 39 © 2014 socialadoption.com => 55 Klout Score = Business Lounge American Airlines
- 39. 41 © 2014 socialadoption.com Social Business Summary • Horizontally integrate Social into your Business Processes • Leverage in context Social Insight across all channels & audiences (BIG Data) – ROI – Discovery / Simulation – Recommendations/Targeting/Segmentation • Social Adoption – its all about Community + Value • Social + Mobile + Cloud
- 40. 42 © 2014 socialadoption.com Social Business Strategy (WIIFB) Social Value Modeling (WIIFM) Social Product Strategy Can we help you? http://socialadoption.com
- 41. 43 © 2014 socialadoption.com @Apéro @peterreiser facebook.com/reiser2.0 linkedin.com/in/peterreiser Thank you http://socialadoption.com
Editor's Notes
- CX focuses on total Customer experience and processes from an Social Outside perspective.. This customer facing processes are directly related to corresponding internal processes of the employees of a company – as example CRM – Customer Relationship management. We call the socializing of these processes Social Inside.
- Sun Microsystems/Oracle implemented a collaboration system which measures the impact of social re-use of content and correlated this social metrics with the standard Win/Loss metrics from Siebel CRM and Project Margin metrics from Oracle Project Accounting. Sales Opportunities with social re-use of content had an average of 14% higher win rate versus projects with non-reuse. Project implementations had an average of 20% higher margin versus projects with non-reuse.ROI Calculation Sales OpportunitiesRevenue : 11,000 Millions 80% of projects in project repository: 8,800 Millions15 % average Re-Use: 1,320 MillionsAverage win rate improvement : 10 %ROI: 132 Millions incremental revenue
- Sun Microsystems/Oracle implemented a collaboration system which measures the impact of social re-use of content and correlated this social metrics with the standard Win/Loss metrics from Siebel CRM and Project Margin metrics from Oracle Project Accounting. Sales Opportunities with social re-use of content had an average of 14% higher win rate versus projects with non-reuse. Project implementations had an average of 20% higher margin versus projects with non-reuse.ROI Calculation Sales OpportunitiesRevenue : 11,000 Millions 80% of projects in project repository: 8,800 Millions15 % average Re-Use: 1,320 MillionsAverage win rate improvement : 10 %ROI: 132 Millions incremental revenue
- Barclaycard Ring is the world's first community-designed credit card. Its cardmembers collaborate to build a better credit card experience. To be approved for the Ring card is to join an outspoken community, and to frequently convene for conversations about financial topics on the Ring website, which is endowed with a wealth of social tools. In an unprecedented move, Barclaycard has empowered members with: 1) Transparency in how Barclaycard makes money, including metrics on Ring's financial performance 2) Influence on what Ring's benefits, rates, rules and penalties are, facilitated by an idea submission and peer evaluation system 3) A share of Ring profits, with the option to donate profits to community-chosen charities 4) Gamification to drive positive cardmember behaviors, such as helping others and going paperless 5) A robust social experience at barclaycardring.com, with topical forums, ask-and-answer, idea-sharing, polls, blogs, and credits earned for community participationAfter launching in April 2012, the Lithium-powered Ring community is already generating positive returns. Barclaycard has combined Ring with other voice of the customer initiatives to decrease complaints by 50% and increase customer retention by 25%, resulting in an annualized benefit of over $10MM. This is a result of: 1) The 50+ crowdsourced customer ideas and suggestions that Barclaycard has already taken action on 2) The use of game dynamics to incent beneficial customer behaviors, such as paying on time and going paperless 3) The deeper understanding of customer needs and behaviors that Barclaycard has gained from polling members and observing their discussions in the community "Barclaycard Ring is a fantastic example of how Barclaycard US drives to be a customer-focused company," says Paul Wilmore, GM of Consumer Markets, Barclaycard US. "We believe this is the way all companies will engage with customers in the future."September 4 2012 to present
- Sun Microsystems/Oracle implemented a collaboration system which measures the impact of social re-use of content and correlated this social metrics with the standard Win/Loss metrics from Siebel CRM and Project Margin metrics from Oracle Project Accounting. Sales Opportunities with social re-use of content had an average of 14% higher win rate versus projects with non-reuse. Project implementations had an average of 20% higher margin versus projects with non-reuse.ROI Calculation Sales OpportunitiesRevenue : 11,000 Millions 80% of projects in project repository: 8,800 Millions15 % average Re-Use: 1,320 MillionsAverage win rate improvement : 10 %ROI: 132 Millions incremental revenue
- Sun Microsystems/Oracle implemented a collaboration system which measures the impact of social re-use of content and correlated this social metrics with the standard Win/Loss metrics from Siebel CRM and Project Margin metrics from Oracle Project Accounting. Sales Opportunities with social re-use of content had an average of 14% higher win rate versus projects with non-reuse. Project implementations had an average of 20% higher margin versus projects with non-reuse.ROI Calculation Sales OpportunitiesRevenue : 11,000 Millions 80% of projects in project repository: 8,800 Millions15 % average Re-Use: 1,320 MillionsAverage win rate improvement : 10 %ROI: 132 Millions incremental revenue