Kickstart your social business.
Geoff De Weaver, CEO, Touchpoint Digital Group*
Whether you are a small to midsize business or a Fortune 500, ‘social business’ is about future proofing your organisation. It is also about becoming more flexible and open, embracing new technology, processes and attitudes, but most of all listening and engaging with your customers.
Social business recognises that brands aren’t about messages any more; they’re about engaging conversations that build loyalty and trust. The most important conversations are often between staff, partners and suppliers.
“ A social business is a business that has incorporated social technologies as a core part of what they do on a day-to-day basis. Social business can touch every department and affects every customer. ”
Building a social business is no longer an option; it is critical in today’s complex, ‘always on’, cross-media connected business environment. It will provide you with a competitive advantage today and in the months and years to come. Best of all, social media tools and platforms can help you conduct your business more efficiently and effectively. If you need to collaborate with colleagues, partners and suppliers, engage in genuine conversations with your customers and grow your customer base, you need to become a social business.
Enhanced engagement builds loyalty
According to the IBM 2012 Global CEO Study, companies that outperform their peers are 30 per cent more likely to identify openness – often characterised by a greater use of social media – as a key influence on their organisation.
Additionally, a 2011 study conducted by IBM revealed that customers (both B2B and B2C) who are fully engaged represent an average 23 per cent premium in terms of share of wallet, profitability, revenue and relationship growth over ‘ordinary’ non-engaged customers. Therefore, employee and client engagement drives business results.
The world is rapidly changing and the need to transform your business through collaboration and social technologies, and change your traditional marketing mindset has never been greater. In fact, IDC’s annual Social Business Survey (June, 2012) found that 67 per cent of North American companies were using or implementing social solutions. That's a dramatic increase of 25 per cent over the past 12 months.
*The views expressed in the article “Kick start your social business” by Geoff De Weaver are not necessarily those held by IBM Australia Limited, IBM Corporation, or Affiliates. IBM Australia Limited does not warrant the accuracy and correctness of any of the information contained in the article.
WHOLE-OF-BUSINESS, MULTI-DEVICE, IBM LOTUS®, SENSITIVE DATA, PROTECTION, FUTURE-PROOF, COLLABORATION.
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