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Social business is a new buzz word, but why should you consider adopting a social business strategy? Find out in Volume's infographic.
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One out of every six minutes spent online
is on a social network
So communicating with customers across social media is not an option
but a necessity
of social-technology adopters in 2011
believe that they haveto adopt Social Business
or will fall behind
expect an increase inrevenue or sales after
implementing Social Business
BY
However,to communicate effectively with
your customers, you must first communicate effectively with your stakeholders
A Social Business is an enterprise that has incorporated social-engagement processes and technology
across all areas of a business to maximise value and profitability
Why does it matter?Social Business...
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Social media is transforming the way organisations
talkingto customers
are
88% of CEOs think “getting closer to the customer” is the most important factor in realising their strategy in the next five years.
2014
US$4.6 billionthe market for social-enterprise tools,
software and services is predicted to reach
Companies waste 5.3 hours per employee
per week because of inefficient
processes
Two out of three people can’t find
the help they know is out there
worldwide
Higher engagement
= Increased revenue
Socially mobilised workforce
=Increase in
collaboration and productivity
Real-time response and engagement
=More satisfied
customers
Relevant human brand engagement
=Increase in advocates
Transparent knowledge flows
=Empowered workforce
Dynamic communication
=Improved
performance
BUSINESSVALUE
Over 50% of organisations now consider Social Business applications to be imperative
or significant to their business goals
Research by Gallup and others shows that engaged employees are more productive, profitable and less likely to leave. Engaged workforces have an earnings per share 3.9x higher than other organisations in the same industry.
eSocialMedia, 2011 Jive, 2011 McKinsey, 2011 Siemens, 2007
Harris Interactive and Tacit Knowledge Systems, 2003 IBM CEO study, 2008
comScore, 2011 Useful Social Media, 2011 Altimeter Group, 2011
53% 57%
YOU NEED TO BE A SOCIAL BUSINESS
RIGHT NOW
98%
74% 69% 58% 47%
of CEOs say they need to restructurethe way their organisations work
EXEC
UTI
VES
MILLEN
NIA
LS
THE WORKFORCE IS SOCIAL
Increase in social usage over the past two years at work
Use at least one social network
for work
Are often logged into social network at work
Increasedspeed toaccess
knowledgeinternally
Increasedeffectiveness
ofmarketing
Reducedinternal
communicationcosts
Increasedcustomer
satisfaction
52%
82% 58%
45% 50%
70%
So why notsocialise
with them?
A study of 900 US-based execs revealed