New Study Reveals the Degree to Which Social Business is Being Embraced
By Mike Stiles on Sep 17, 2013
Specifically, what are organizations in 2013 really thinking about the importance of becoming a socially enabled enterprise? A study from Oracle, Leader Networks and Social Media Today presented for the first time this morning at Social Media Today’s “Social Shakeup” in Atlanta gives us some interesting insight.
In the midst of changing roles for IT and marketing thanks to the social revolution, we wanted to take a good look at how social platform adoption is affecting internal operations and customer-facing initiatives. Respondents were organizations with 100 or more employees that use a social platform, representing over 20 industries and 52 countries.
We’ve talked a lot about the socially enabled enterprise in previous blogs, so maybe it’s time to clearly define it: “A set of collaborative processes that have the potential to yield improved business processes that are customer-driven such as faster time to market with new products and services, more successful research and development outcomes and refined market messages that are explicitly influenced by customer needs.”
Do organizations want to be socially enabled? Are they putting what’s needed in place to achieve it? Are they reorganizing internally to accommodate it? See the full PowerPoint and sign up to get the white paper in its entirety upon its October release. But…
I don’t like waiting either, so let’s go ahead and give you the highlights.
- Organizations are definitely adopting social platforms. Most are using 3-5 of them.
- The bigger organizations (50,000+ employees) are much farther along in becoming socially enabled enterprises. Nearly half of them say they already are socially enabled.
- 63% think it’s very important that their company be socially enabled, and becoming socially enabled is regarded as part of the strategic agenda.
- The transition toward being socially enabled isn’t expected to be a cakewalk. 43% of executives say it’ll take their organizations over a year to truly leverage social throughout their businesses.
- At the moment, marketing metrics like awareness, customer satisfaction and share of voice are the top social business performance metrics. That’s followed by lead gen & sales and new product development.
- Respondents anticipate significant growth in the use of insights from social platforms. But right now, most use them within departments for informal learning.
- The growth in social platform utilization has had a significant or transformational impact on the way 1/3 of respondents interact with customers. 60% plan to integrate social business metrics into customer care initiatives in the next 12 months.
- Interestingly, organizations outside of the U.S. are significantly more likely to use social business insights for new product development and R&D.
Out of this, a profile of the socially enabled enterprise has started to emerge. It’s a business that has a strategy for using social insights to improve business functions, that’s linking social strategies to operational plans, and that has strong & collaborative leadership.
Is that you?
Group VP of the Oracle Social Cloud Platform Meg Bear said, “As this study shows, business executives now understand that creating a socially enabled enterprise can create better customer experiences, enable more responsive internal networks and drive organizational efficiencies. This combination gives organizations of all sizes a significant competitive advantage.”
So if you happen to like having the advantage, don’t forget to get on the list for the October release!