Transform Business | Harness the Power of the Social Web for Competitive Advantage

Social as a Strategy: Seven Best-Practices to Transform your Business into a Social Enterprise*

The social revolution has grown from scratch to become a transformative communication and collaboration phenomenon. From the Arab Spring to the global Occupy movement, social networks have been used to rally enormous crowds, create mammoth followings, and even topple political establishments. Today, one in every five minutes online is spent on Facebook; 250 million tweets go out every day; and almost overnight, brands have moved from one-to-one customer conversations to one-to-1 million.

Social trends are significantly altering the business and competitive landscape. The social web has emerged as a valuable business tool for the modern enterprise. Touting rich applications with real-time interaction and user-generated content, social media has materialized into a key tool to build customer intimacy and promote employee collaboration.

We decided to delve into this phenomenon to understand the dynamics that market leaders have embraced to successfully transform themselves into enterprises that are social-at-the-core. We found that the best-in-class adopted select uniform practices with multiple permutations and combinations which are quintessential for successful social transformation. Micro analying these efforts, we’ve identified seven best practices to transform your business into a Social Enterprise:

 

 

  1. Secure executive sponsorship and management commitment towards ‘going social’ – Assemble an enterprise level organization for social business.
  2. Ensure ‘social’ is part of the overall business strategy – Develop and integrate external and internal social business processes.
  3. Engage in active community building and management – Deploy processes and technologies to shift from reactive to proactive social engagement.
  4. Design innovative business and functional models that leverage the social network across the value chain – Employ social networking across all functions, not just sales and service.
  5. Utilize integrated IT platforms to have technology act as an enabler and driver for business – A perfect blend of social and related technologies, including analytics and mobility, can provide substantial competitive advantage
  6. Empower employees to shift from sales, service, and silo’d functions to customer ownership experience  – Ensure a holistic approach to Social CRM. Culture, too plays an important role.
  7. Turn social insight into action – Listen, Analyze and Engage. Harness social insights for competitive advantage.

As Erik Qualman puts it, “We don’t have a choice on whether we do social media, the question is how well we do it.”

 

Note: This post was originally published on my blog at Capgemini.com, in September 2012 (http://www.capgemini.com/technology-blog/2012/09/social-strategy-bestpractices-transform-business-social-enterprise/)

 

* : The term ‘social enterprise’ is used here to describe companies that harnesses the power of the social web – making it an integral part of their business model.

 

4 Responses to “Social as a Strategy: Seven Best-Practices to Transform your Business into a Social Enterprise*”

  1. William says:

    I’ve been stubbornly staying away from social media for the past 5 years because my belief is that business should still be done face to face, but I now I do acknowledge that ignoring the social media as strategy will backfire one day even for an established business. Either you evolve or you go extinct I suppose. Anyways it was a very enlightening read.

  2. Sam Vasquez says:

    I can very much relate to practice #1 and #5 because those two things I’ve made mistakes on when I first tried integrating social media into my business. If you’ve decided to utilize social media then it’s important that you incorporate it into every part of your business. You can’t go half way and think that it will just work out because it won’t. It’s a terrible waste of time and resources unless social media becomes an integral part of your business. Also make sure your website is mobile device friendly because that’s where you’re going to get a big chunk of your traffic and that trend will continue on.

    • Floyd DCosta says:

      Thank you, Sam.

      With the proliferation of smartphones and technologies, I couldn’t agree more with the comment on mobile driven traffic.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All content Creative Commons licensed | Floyd DCosta