The Business of Social
Social media and networking technology is redefining how people share the details of their lives and what it means to connect with others. The instant sharing of news and information with these always-on networks is shifting culture: The chatter through platforms like Facebook, Twitter, Pinterest and others boosts the prominence of individual narratives and makes personal and business information more open for others to see. These digital networks are in many ways like having a group of friends, relatives and strangers in the next room reacting to both the profound and trivial aspects of someone’s life. What does this openness and connectivity mean for companies seeking insight into end consumers? Enterprises, too, are crowding into the room with active use, carving out footholds in social networks as they construct new ways of communicating. Workers are using wikis, corporations are blogging and global brands are looking for engagement with constituents. Social is pervasive in the lives of consumers, and is becoming so in the enterprise, but the answers as to how to succeed in this new world are still developing. There are still questions about how to best incorporate social tools like Yammer or Chatter within the enterprise and how to benefit from them and the consumer media. At this roundtable, we sought to understand this phenomenon and answer questions such as:
- Do you have a social media roadmap, a guideline of how you want to play in this space given your industry, business model and corporate culture?
- Who “owns” social media? How do you manage it?
- How do you use social networking applications to reach your customers (or your customers’ customers), engage them, serve them and gain knowledge from them?
- What is the impact of social media on your ability to control your brand image, and influence the sentiment about your company, whether B2C or B2B? How does social access of employees impact the control of businesses over its IP, brand, and image?
- How does access to social tools impact the relationship (incl. legal) between your company and its employees? How can social media be used for hiring, employee communication, recognition, and culture maintenance?
- How is the role of social media and much more immediate feedback from customers, perhaps especially end-consumers, changing your value chain’s operations or decisions? Do you just listen or engage?
- How are you using social media platforms as engagement opportunities to help customer service/experience?
- What is the impact of social media on product and service development processes and outcomes? What role does crowdsourcing play? Social media? Have your customers contributed to the definition/development of new products and services? Can you now personalize products or services more, whether B2C or B2B?
- What does social media mean for customer data usage and management? How do you combine data or information from it with other sources to create new knowledge?
- What is the interaction between social and other tech megatrends like big data, mobile and IoT? What does this interaction mean for the enterprise?
- How do you measure social media ROI or impact?
- How has your thinking on social and cybersecurity developed?