November 9 2012
Earlier today, the IBM Institute for Business value released a new study, "The Business of Social Business: What works and how it's done." This comprehensive study interviewed over 1,100 participants and executives from across several industries globally. The analysis discovered that there are three clear areas where social business is transforming organizations:
- Creating valued customer experiences
- Driving workforce productivity and effectiveness
- Accelerating innovation.
Several organizations are highlighted in the study, including TD Bank, Boston Children's Hospital, Beiersdorf, and Citibank.
I think one of the key findings of the study is how businesses can be successful in leveraging social tools. At IBM, for example, we are finding our inside sales organization is increasing productivity and close rates when the sales specialists employee "Digital IBMer" tools. It's all about getting these ingredients right:
Our survey and interviews have made one thing clear: those organizations experiencing the most success in social business approaches know they have to make fundamental changes in the way their employees worked across the entire enterprise. To weave social business into the fabric of the organization, three key issues must be addressed on an organizational level:What is fascinating to me personally is that this study was conducted in parallel to the authoring of my forthcoming book, Opting In, yet we cover a lot of the same concepts...in the same ways. That speaks to the thought that the transformation to Social Business is a cultural one; though I have never worked with the study's authors (Eric Lesser, James Cortada, and Peter Korsten), their research validates many of the examples in Opting In from IBM's own experience. That means we have the recipe right, and this study is among the ingredients to helping other organizations recognize the real business value of social business.
• First, companies need to consider how to incorporate social metrics into their traditional enterprises and processes.
• Second, they need to understand and manage the risks associated with social business.
• Third, change management remains a critical requirement in embedding successful social business practices in an organization. But, the implication is also quite clear: social business requires a unique application of traditional change management principles to influence corporate culture and performance.
Check it out ...
Link: ibm.com: "The Business of Social Business: What works and how it's done." >