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SocRev: The social revolution and its potential to revolutionize the corporation

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Children of the social revolution:

The business potential for social technologies to revolutionize the corporation

If only we knew what we know, we’d be three times more productive

SocRev: Empowerment. Lightspeed. Win-win.

The ultimate activity of all businesses is to increase sales. Social media can be a fundamental tool in an integrated strategy to develop business. But the competitive advantage doesn’t stop there.

Corporations don’t talk. They don’t share information well, generally. The enterprise that collaborates …

… enables the tools to make itself an organizational powerhouse – a veritable braintrust of collaborators:

Lean communicators/information sharers who garner the hidden advantages of Big Data.

Examples of Big Data:

  • 10,000 payment card transactions are made every second around the world
  • Walmart handles more than 1 million customer transactions an hour
  • 340 million tweets are sent per day … Nearly 4,000 tweets per second

Big Data. Imagine if you could harness the power of every tweet ever sent on an organizational objective over the last five years. You would have one massive, digital braintrust of information.

Opportunity lies hidden in the massive amount of information underutilized by organizations. As corporations learn to exploit their own braintrusts, it will be social/digital technologies that will enable some of the most innovative thinking planet Earth has ever seen. Companies must be ready with a strategy to use the newest and most tactical tools to emerge since the internet.

Just as the latest research in theoretical physics is slowly adding challenge to Einstein (see research on the Higgs boson particle), the social/digital sphere will create the power of the employee to the exponent “x”.

Example:

  • Microsoft bought the enterprise social networking company Yammer

Social = Customer relationships

A report from Deloitte, which surveyed 3,748 executives from 115 countries and 24 industries, found:

  • 80 per cent of respondents stated social media had a key role to play in building customer relationships
  • Another 74 per cent agreed it could foster innovation that delivered genuine differentiation
  • 65 per cent cited benefits linked to hiring and retaining talent
  • 61 per cent referenced revenue-generating possibilities

But:

  • Just 18 per cent of the respondents thought social software was extremely important to their company at present

and,

  • 40 per cent expected it to be extremely important one year from now

Do these executives expect social enterprise to be less important three years from now?

No.

  • 63 per cent expect it to be extremely important three years from now

LinkedIn: Facebook-for-grown-ups

Facebook has experienced some challenges to its business model, but much of this can be attributed to the hype process that surrounded its IPO, its less-focused business strategy, and its incredibly rapid growth in users.

Yet LinkedIn has increased stock market share value since its IPO. LinkedIn has grown rapidly, with less hype and more purpose than organizations like Facebook. Professionals realize its potential within the social media landscape.

Use of LinkedIn amongst professionals in every sector of business, non-profit and government has grown quickly. Professionals see the advantages in networking, collecting information, fundraising, marketing, communications and sales.

  • 71 per cent of LinkedIn members in Canada use the service for networking
  • 72 per cent of LinkedIn members are more confident about the professional information on LinkedIn than other social media sites

Just how many LinkedIn users are there?

  • LinkedIn operates the world’s largest professional network on the internet with more than 175 million members in over 200 countries and territories

Not only has LinkedIn’s user base increased at a staggering rate over the last few years:

  • Professionals are signing up at a rate of two per second

Trust in LinkedIn is very high. The value add of credibility is a strong competitive advantage, one that smart companies are using and will keep using.

Coming soon:

Social media: A universe expanding at an incredible rate

Follow me on Twitter, by RSS or sign up to receive posts via email (sidebar, top right).

This post follows a series that began with:

Social media is enterprise media: How business can expand with the social universe

and

Social. Mobile. The future.

*Sources: Gartner, LinkedIn

//

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