Biggest Kids on the Block Becoming Bigger Fans of Social Media | sloanreview.mit.edu


 

Fortune 500 firms are taking a leap forward in their use of social media, from Facebook to Pinterest.

By Robert Berkman

The very largest corporations in the country — those who make up the Fortune 500 — are showing “the first signs of really embracing a range of social media tools.”

That’s the finding of a study undertaken this past summer by the Charlton College of Business Center for Marketing Research at the University of Massachusetts Dartmouth.

Nora Ganim Barnes, the Director of the Center for Marketing Research at the University of Massachusetts Dartmouth and a Chancellor Professor of Marketing, Ava M. Lescault, the Assistant Director / Senior Research Associate at the Center and Justina Andonian, the Social Media Coordinator / Research Assistant at the Center, examined how companies from the 2012 Fortune 500 list were using blogs, Facebook, Twitter, YouTube and Pinterest.

Some of the more interesting findings include the discovery of many more Twitter accounts than blogs among Fortune 500 companies. Many companies are also doing specialty blogging and using their own YouTube channels.

Here are some details:

Blogging: A total of 139 companies, or 28% of the Fortune 500, had blogs. Those in the telecommunications industry had the most (40%); followed by commercial banks, specialty retail and utilities (25-30%). Several industries on the list — forest and paper products, railroads, tobacco, toys/sporting goods, real estate, building materials/glass and trucking and waste management — had no members with blogs.

What are these firms blogging about? While the purposes vary, Barnes says that her research shows that blogs are becoming more popular for branding and thought leadership, with some companies using the forums to discuss social concerns. For example, Exxon Mobil’s Perspectives blog often discusses environmental protection.

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The World’s Top 20 Social Brands – Forbes


See on Scoop.itGabriel Catalano human being | #INperfeccion® a way to find new insight & perspectives

If brands won social awards, then National Amusements, Inc., a Viacom company, would own the title of most powerful social business. The index ranking, according to Dachis Group, “Analyzes the effectiveness of strategies and tactics organizations employ to engage the market through social channels.”

I’m surprised by some of the companies on the top 20 list as I haven’t personally seen much from L’Oreal, Nestle or the Discovery Channel, but then again, I’m not tuned in those areas. The rest seem plausible to me.

So why is this important?

The standard answer is that we need to recognize brands that are leading the way in social business. The real answer is that business leaders need better corporate role models. We need organizations who will convey to those leaders that becoming a social business is the smarter path. That the old playbook will not work in the new social age, and that becoming a social business will increase the company’s ability to adapt to market changes and take advantage of new revenue opportunities.

A business that only uses traditional marketing will produce suboptimal results, and will, in time, fade from being a great business – no matter how much of a lead it has now.

That’s something a lot of companies are learning –even today.

See on www.forbes.com

Technology Will Only Solve 1/3 of Your Social Business Problem | Logic+Emotion


Logic+Emotion

Screen shot 2012-09-30 at 6.30.45 PM
I’m behind on writing a bit as I’ve just returned from Norway and before that, Dreamforce in San Francisco. It was my first time attending and speaking at Dreamforce and to be honest, I was completely taken back by the extravagance of it all. With Keynotes from heavy hitters such as Sir Richard Branson, Jeff Imelt and even Colin Powell, not to mention entertainment provided by the Red Hot Chili Peppers—I can only estimate that the event cost tens of millions to produce.

Salesforce also made good on what many observers were already suspecting—it has begun to package and consolidate acquisitions of social platforms Radian 6 and Buddy Media into what’s now known as “Marketing Cloud” moving forward. Shel Israel shrewdly views this as a pivot to catering to CMOs as part of the strategy to convert an enterprise to “social enterprise” and in short follow the money trail as companies grapple with how to integrate social at scale.

But amid enjoying some of my favorite tunes belted out by the Peppers in an outdoor venue filled with well over thirty thousand people complete with free beer and wine I couldn’t help but think this:

“all this money—and companies will only be solving one third of their social business problem”  Leer más “Technology Will Only Solve 1/3 of Your Social Business Problem | Logic+Emotion”

Technology Will Only Solve 1/3 of Your Social Business Problem


Screen shot 2012-09-30 at 6.30.45 PM
I’m behind on writing a bit as I’ve just returned from Norway and before that, Dreamforce in San Francisco. It was my first time attending and speaking at Dreamforce and to be honest, I was completely taken back by the extravagance of it all. With Keynotes from heavy hitters such as Sir Richard Branson, Jeff Imelt and even Colin Powell, not to mention entertainment provided by the Red Hot Chili Peppers—I can only estimate that the event cost tens of millions to produce.

Salesforce also made good on what many observers were already suspecting—it has begun to package and consolidate acquisitions of social platforms Radian 6 and Buddy Media into what’s now known as “Marketing Cloud” moving forward. Shel Israel shrewdly views this as a pivot to catering to CMOs as part of the strategy to convert an enterprise to “social enterprise” and in short follow the money trail as companies grapple with how to integrate social at scale.

But amid enjoying some of my favorite tunes belted out by the Peppers in an outdoor venue filled with well over thirty thousand people complete with free beer and wine I couldn’t help but think this:

“all this money—and companies will only be solving one third of their social business problem” 

The problem with social technology solutions—even really great technology is that it’s incomplete. It’s no wonder why Salesforce is making a killing, because I’ve seen first hand how a business will freely invest in a technology platform thinking that they have purchased a turnkey solution only to realize shortly after that they’ve possibly invested in the wrong solution and most definitely underestimated the other two areas which require investment (people and process).

The Three P’s of Social Business >>>>  Leer más “Technology Will Only Solve 1/3 of Your Social Business Problem”

Social Business Design


See on Scoop.itGabriel Catalano the name of the game

Social business design – adopting the use of social technology, flattening corporate structure and shifting towards less siloed operational models – helps organizations achieve business objectives as the marketplace becomes more…

Mark Smiciklas believes in “the idea that organizations adopting the use of social technology, flattening their corporate structure and making the shift towards less siloed communication and operational models will be in a better position to achieve their business objectives as the marketplace becomes more digitally connected.” >>>  Leer más “Social Business Design”

Top 5 Reasons to Understand Your Customer’s Customer


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The world is slowly climbing out of the great recession as companies around the world begin to increase investment and hiring. But for B2B sales teams looking to recapture growth during these early days, it’s critical to understand who’s really paying their bills and keeping the lights on — and guess what? It’s not your customer … it’s your customer’s customer. And if your sales team doesn’t deeply understand the business problems of these folks, then you’ll lose to competitors who do.

Before I get into the reasons why this is, consider some of the big, underlying changes happening in the market today. As companies start growing and investing again they are spending money, but they have fewer people than they had before. This means less time to accomplish key objectives and an even stronger focus on developing efficient strategies and processes to drive revenue growth ahead of the competition. As a result, they are changing the way they do business, innovating in the vertical integration of their product lines and socializing their go-to-market, because if they can innovate and out-execute the competition in the way they serve their customers they can gain more market share as spending comes back.

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To accomplish this, large companies are now talking about “business transformation” in their sales teams, “cultural transformation” in how they interface with their customers, and building a “social business” as a new way to look at their internal collaboration process. With all these trends, the end objective is the same: How to better solve their customer’s business problem and so gain market share.

And so how do you solve your customer’s problem? Well like you, their challenge is revenue, profit and market share. So when your sales team understands their customer’s customer — and the business dynamics, competition and growth opportunities that their customer has — magic happens.

Here are the top 5 reasons:

1. You can focus on the customer’s business problem, not your products

It’s a cliché, but a true one: your customers don’t buy products, they buy solutions. But you can’t sell them a true solution unless you know what problem they are trying to solve, and understanding their customers will give you the insight you need to hold a useful conversation with your customer.

If you pitch product you become a tactical vendor; if you can discuss their customer and how they are serving their customer you become a member of your customer’s team. For example, is their customer driving price down on them — and so is your opportunity to help them take cost out of their operating expenses? Or are they focused on revenue and end user growth — and can your solution help your customer reduce their time to market?

Understanding the customer’s problem is sales 101, right? But it is surprising how many sales people still pitch product. It’s essential you provide your sales team with the intelligence and systems to stay on top of the customer’s ever changing end-business problem (see #5). Leer más “Top 5 Reasons to Understand Your Customer’s Customer”

The Fluidity and Demands of Social Business Work

Part of the adaptation resistance we feel in businesses trying to become more social is that they’re taking an old model – the 5 day week fit into a daytime 40 hours – and desperately trying to fit it around the inconsistent and differing patterns that define a connected, networked and vastly more nimble global network. Strapping hours on your Twitter bio will not forever meet the needs of customers, employees, partners, supply chain, and the people who deliver on the work we’ve ultimately promised.

Here’s where I have some questions for you.

What do you think defines a professional commitment in today’s era? As a worker of any kind, what should you expect to commit? Is it different than it has been? If so, what will make that commitment worthwhile?
How can companies adapt an industrial-era mindset into a modern one while surmounting the challenges of sheer scale and cost of having a larger, more distributed and flexible workforce? Or are there savings in there instead of costs?
What does that mean for the education and induction that we’re giving to the next generation of workers, whether skilled or knowledge based or both?


http://www.brasstackthinking.com

The Fluidity And Demands of Social Business Work - Brass Tack ThinkingFew of us work a 5-day, 40-hour week anymore.

So if that’s true, and we’ve largely accepted that, why are we still trying to force social business evolution into the bounds of those days and hours?

Fluidity is a continually emerging reality in business. I struggle mightily with this personally, because I don’t believe that even the most entrepreneurial of us are winning medals when we get out there and flaunt our exhaustive, 80-hour workweek and lack of weekends as some kind of masochistic badge of honor. In fact, it tells me that we simply aren’t being smart with how we work, not telling us that we should just keep working and working and working until we break.

Stack that, however, against the ever-present reality that the online world does not tick according to the industrial era clock. We had metered, 8-hour days for a reason. Assembly lines needed to meet quotas and factories needed to meet the demands of their customers but without endangering their workforces.

Yet, the web is a fluid thing that rarely collectively sleeps… Leer más “The Fluidity and Demands of Social Business Work”