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Are you ready to transform your organisation into a Social Business?

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After the founding of Facebook, social media was a buzz work for the industry but today it’s a way of life. Today social business suffers a similar fate – it’s a buzzword that companies can no longer afford to ignore. According to Dion, Hinchcliffe of the Dachis Group, social business “is what executives want. This will change our industry. This will dramatically improve our results.” So what difference does social business make? How is it different from social media? . . .

After the founding of Facebook, social media was a buzz work for the industry but today it’s a way of life.  Today social business suffers a similar fate – it’s a buzzword that companies can no longer afford to ignore.  According to Dion, Hinchcliffe of the Dachis Group, social business “is what executives want. This will change our industry. This will dramatically improve our results.” So what difference does social business make? How is it different from social media?

Social media has changed how we as humans connect, share and communicate. Social Business is changing how enterprises engage, connect, share and conduct business both internally and externally and the figure below highlights this effectively.

Source: – http://www.slideshare.net/Britopian/thinking-strategic-about-social-business-the-community-roundtable

Furthermore, there are several social business trends that are emerging mainly among the large multinational corporations.  Social business trendsetters such as IBM, Dachis Group, Edelmann have all anticipated the need for creating a social business by design. The very core of the organisation, its structure, its process – needs to go social. With businesses beginning to reap the benefits of social media and having been able to identify the key performance indicators of social media marketing campaigns, organisations are becoming more open to going social and being more transparent. No longer do organisations have to go in search of their target audience, the customers come to them. For the first time in the history of consumerism, there is a shift in power. Customers now hold all the cards; they are the source content, engagement and communication. So who/what are the key stake holders of a social business?

Fig 1: – The key stakeholders / influencers of a Social Business

Now that we have strongly establish, the need for becoming social and how it’s not just an external communication media, but an inward change. Let’s look at the Return on Investment; a social business can look forward to. The figure below details the business gains that may be possible with enterprise level social media. This was part of the presentation made by Dion Hinchcliffe: –

Fig 2: Types of Business Gains Possible with Enterprise Social Media, http://www.slideshare.net/tibbr/designing-a-successful-social-business-solution-for-high-impact-roi-for-tibbr-sydney-2

The figure above highlights the business gains that will be possible with enterprise level social media, but in order to achieve these numbers, you business needs to become a social business by DESIGN. Becoming is a social business is not just about changing your process and implementing enterprise level social software. It’s about a fundamental change in the culture of the organisation and the very way of existence and thinking. The figure below highlights the path to becoming a social business, it was part of a presentation made by Michael Britopian, SVP Social Business, Edelmann.

Source: – http://www.slideshare.net/Britopian/thinking-strategic-about-social-business-the-community-roundtable

Once you have successfully walked the path of becoming a social business, know that you have changed the way of life and business within your organisation. Social business will affect every department, every communication mechanism and all your customers, partners, investors. Before you know it, you company will be a leaner, meaner, profit making machine!

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About Logan Nathan

Social Media Business Consultant | Internet (Web) Marketing Strategist Speaker | Trainer

Based in Sydney, Australia, Logan has been an avid & passionate social media user since the advent of Facebook.  As the Social Media Business Consultant with over 30 years experience in the travel and hospitality industry, Logan is focused on guiding organisations through the four stages of social media for business – Education, Strategy, Implementation and On-going Management. If your business needs expert assistance on creating a custom Social Media and Search Engine Optimisation Strategy, contact us via logan@logannathan.com. Logan is also an expert on LinkedIn and is running a series of workshops over the next few months. To Register: –http://www.ictsocialbusiness.com.au/social_media_education/social-media-training-workshop/Getting-leads-from-LinkedIn