Let’s Get Down To Social Business

LET'S GET DOWN TO B SOCIAL BUSINESS By 2014, the market for social enterprise tools, software and services is predicted to reach $4.6 billion worldwide. This new generation of technologies is rising up to meet a growing demand for connectivity and transforming all aspects of business. Amid the chaos, new markets and leaders will emerge. Journalists will embrace them, and PR pros will manage the process. Let's dive into the ballooning popularity of social business. WHAT IS IT? Designed out of emerging cultural change and outreach, it fosters a unique and effective kind of collaboration at the "Social business" • Social media • E-commerce • Social technology is a meta-trend comprising enterprise level. several component trends: POPULAR SOCIAL BUSINESS PLATFORMS Community Collaboration Social Publishing Social Commerce satisfaction XATLASSIAN involver Bazaarvoice yammer jive WORDPRESS DachisGroup * Zuberance Lithium tumblr. chatter PowerReviews Collaboration Cloud EXECS CHIME IN According to a Jive Social Business Index study of over 900 U.S.-based executives: 53% 57% 71% 51% believe that they have to expect an increase in revenue 73% of executives and 51% of millenials have adopt social business or will fall behind or sales after implementing downloaded at least one web-based app for work on either a mobile device or computer social business TECH TAKES ADVANTAGE OF SOCIAL Industries Engaged in Social Business (Percent of Respondents) 16% 2% 4% 6% 8% 11% 11% Education Retail Utilities/ Manufacturing Technology Healthcare/ Financial Energy Medical/ Services Biotech/Pharma *According to samples of organizations with at least 5,000 workers worldwide engaged in social business. FROM THE INSIDE OUT To be most effective, social business must use social computing comprehensively inside an organization and outside to its end-users through customer-facing activities. (Percent of Respondents) "What internal social strategies will you focus most on in 2011?" "What external social strategies will you focus most on in 2011?" Creating ROI 48.3% Website 46.7% measurements integration Internal education 37.3% Developing ongoing 43.3% and training dialogue with customers Determining an Listening/Learning 34.7% 37.7% organizational model about customers Apply social insights Fostering word 34.7% 36.9% to product roadmap of mouth Getting buy-in from stakeholders Formalizing an advocacy program 32.3% 24.6% Developing a listening/ monitoring solution Social 29.7% 22.1% commerce Getting tools and technologies in place Mobile/ 26.3% 20.5% location Increasing budget/ Collaborating with 24.6% 19.7% headcount customers Policies and Providing direct customer support 22% 16.4% procedures *Based on an Altimeter Group survey of corporate social strategists in 2010. Enabling peer- 13.9% to-peer support Almost half of respondents agree that creating measurements of profit and return on investment are most important internally. Externally, most businesses want to see social elements being implemented into websites. get satisfaction www.getsatisfaction.com Sources: Altimeter Group | ZDNet.com | Forrester Research | Adoption 2.0 Council TechCrunch | Owyang, Jeremiah. "Social Business Stack for 2011."| Jive Created By COLUMN FIVE