As a data geek, I was super happy when Jive announced the results of our 2011 Social Business Index report. Penn Schoen Berland, which was commissioned by Jive, conducted a study May. The company surveyed 301 executives, 301 working millennials and 300 general knowledge workers at both large (1000+ employees) and mid-size companies (500 – 999 employees) across various industries.
We identified three key findings:
- Social Business is a top executive strategic imperative;
- App Stores are gaining traction in the enterprise; and
- Email usage is growing but is not solving communication challenges in the enterprise.
Today, I’m going to focus on Finding #1: Social Business Is a Top Executive Strategic Imperative.
The study showed that Social Business is increasingly becoming a strategic initiative for enterprises, especially among executives and millennials. Over half of the executives interviewed believe that their companies would face moderate to high risk if they failed to adopt a Social Business strategy.
Specific findings include:
- Sixty-six percent of executives believe that social applications for business represent a fundamental shift in how work will get done and how companies will engage with customers;
- Fifty-three percent of executives believe they must adopt Social Business or risk falling behind;
- Sixty-two percent of executives cite the potential to achieve “better customer loyalty and service levels” and 57 percent anticipate “increased revenue or sales” as a result of implementing a Social Business strategy;
- Sixty-two percent of all respondents think that businesses need to leverage social software inside and outside their organizations in order to remain competitive;
- Online communities are an important source of information for making purchase decisions, especially for millennials. Fifty-four percent of millennials said that they are more likely to rely on and make purchase decisions from information shared via personal contacts in online communities versus 33 percent more likely to use information from “official” company sources; and
- Eighty-three percent of executives leverage at least one social network for work use.
Despite the urgency around Social Business, only 17 percent of executives think that their companies are “ahead of the curve” in terms of adequate adoption of a social strategy. A closer look at company sizes included in the survey reveals that executives at mid-size companies are more confident in their social strategies than executives at large companies.
For more information on the survey, view this press release.
Do these results surprise or confirm your beliefs?
Last week, I met with several Voice of the Customer professionals and customer intelligence experts at the Allegiance Engage Summit in Park City, Utah. One of the highlights of the day (beside SNOW IN MAY) included a presentation by author and former Apple chief evangelist Guy Kawasaki.
I wanted to share with you guys, Guy’s keynote address based on his latest book “The Art of Enchantment.” He provided attendees with creative ways that businesses can become more likeable and trustworthy while engaging customers and winning more business. He pointed out that companies should “remove the speed bumps” and make it easier for customers to do business with them.
Here is a shortened version of his presentation I found online:
During Jive’s New Way Tour Live Broadcast on 5/24, I’m going to host a Social “Press” Conference.
Now, it’s your chance to ask the biggest Social Business questions to Tony Zingale, Jive Software CEO.
Here’s how to participate:
1. Submit your question on Jive’s Community.
Then, Trisha Liu, the community manager at ArcSight–an HP company, will determine the best, most popular questions and serve as the Community Reporter onsite, representing the voice of the people and submitting the best questions for Jive to address.
2. Tune in on May 24 at 8:30 PST for the live broadcast to hear the top questions and answers on Social Business.
Ping me if you have any questions!
A few months ago, I got a voice message from The Federal Reserve asking me to keynote their annual #w3dge conference. When I first heard it, I thought, “Oh no. They have the WRONG Deirdre Walsh. It must be the smart, political-savvy CNN producer/my SEO competitor Deirdre Walsh.” However, I was lucky enough that indeed they were searching for me.
After a crazy 7-hour flight that involved not one but two incidents with my neighbor and corn on the cob, I arrived in Dallas at the Federal Reserve Bank. Past the multiple security guards, x-ray machines and sets of key-card revolving doors, I arrived inside a beautiful building. Immediately I was greeted by fun folks like @pixelheresy and @brightmatrix, crayons, starbursts.
I delivered a fresh presentation called “The New Way” that outlines social Web trends, my 6 pillars for social media success and what’s next in the industry. I was SO impressed by The Federal Reserve’s passion and desire to be not only trusted advisers and thought-leaders, but open, transparent participants on the social Web. Woot The Fed Web!
During my first month on the job, I’ve been a road warrior on the New Way Tour. It has been an awesome experience bringing real-world case studies of social business success to cities across North America and Europe. I just found out that we’re going to stream live video of the San Francisco event, so the folks at home can get inspired, learn best practices, and network without leaving their desks!
Date: May 24, 2011
Time: 8:30 AM – 10:30 AM PST
Mark Yolton, SVP, SAP Community Network
SAP has embraced the new way, and achieved amazing results. Hear @MarkYolton share how mission-critical Social Business is at the fourth-largest software company in the world.
Chris Fletcher, Research Director, Gartner
@ChrisFletcher will share his views on the rapidly growing social business industry. Hear him share his perspective on what’s in store for companies already embracing social, and the implications for the ones that haven’ done so yet.
Tony Zingale, CEO, Jive Software
@tonyzingale will share his perspective on the state of Social Business, and what the future of work holds for all of us. You’ll also get an exclusive, up-close look the company’s latest software release, Jive 5.
Register for the New Way Tour Live Broadcast.