The State of Social Business: Social Media Matures, Yet Many Companies Still Lack a Strategic Foundation

THE STATE OF SOCIAL BUSINESS: Social Media Matures, Yet Many Companies Still Lack a Strategic Foundation COMPANIES ARE ORGANIZING AND FORMALIZING SOCIAL MEDIA INTO SOCIAL BUSINESS. This team has 78% grown, from of companies have a dedicated social media team, 11 people in 2010 to up from 67% two years ago. 15.6 in people in 2013 IT'S SPREADING ACROSS THE ENTIRE ENTERPRISE. In which of these departments are there dedicated social media staff? There are dedicated social media staff in 73% Marketing Corporate Comm/PR Customer Support Digital Social Media at least 66% 40% 13 37% 35% HR 29% departments. 16% Product Department/R&D Advertising Customer/User Experience 16% 15% IT 14% Executive 11% 9% Legal Market Research 8% And, social media headcount across the enterprise has more than doubled at the largest companies, . from to 20 staff in 2010 49 staff in 2012 COMPANIES ARE TYING SOCIAL BUSINESS TO POSITIVE BUSINESS OUTCOMES. About We have formalized metrics that show positive outcomes in: 1/2 60 53% Marketing Optimization of companies say social business has improved marketing optimization, customer experience, and brand health. Nearly lili 50 45% 45% Customer Experience 40 Brand Health 30 24% Revenue Generation 20 10 1 in 4 have seen increase in revenue. BUT COMPANIES HAVE A LONG WAY TO GO: MANY SOCIAL BUSINESS PROGRAMS LACK A STRONG FOUNDATION. Only 17% of companies identify their social strategy as mature. Only 52% of companies say that executives are aligned with the social strategy. Only 26% of companies approach social media holistically, operating against a cross-enterprise level strategy. UNDER CONSTRUCTION ALTIMETER To Succeed, Build a Foundation for Social Business 17 Benchmark your program with Altimeter's State of Social Business 2013 report. Document existing challenges and opportunities to address in 2014. Align all social business efforts with business objectives and priorities. Based on Altimeter Group's report: Download the report at: "The State of Social Business 2013" http://bit.ly/ssb-2013