On April 30, industry experts, advisers and visionaries convened on Twitter to discuss the growing field of enterprise social media during our bi-weekly #IMChat. From internal collaborative networks to external social efforts, many of these initiatives veer into uncharted territory, especially in regard to ROI, security and data governance. However, social media isn’t going anywhere. According to McKinsey & Co., social technologies could contribute $900B to $1.3T in annual economic value - if utilized properly.
During this lively exchange, issues concerning best practices, corporate buy-in and more were addressed. Moderated by Information Management Editor-in-Chief Julie Langenkamp-Muenkel (@JulieLangenkamp), the chat featured Krish Krishnan (@datagenius), among other social experts.
The recap below lists the questions posed and a number of the most insightful tweets:
What are enterprise benefits of social & the drivers for a social strategy within the enterprise?
@datagenius: There are financial benefits in cost, spend, risk & optimization of these issues. Brand & reputation management are benefits too
@WhitneyAEden: Analyzing and applying data from social channels to make data-driven decisions
Strategy is important - How do you set objectives for a social strategy, and who leads the charge?
@datagenius: The drivers for Social Strategy are set by CMO, CRO & CSO the Line of Business Heads, facilitated by Chief Data Officers
How do you measure social success?
@datagenius: The impact of Social Success is measured by engagement of customers & prospects, the increase of clickstream
@pisarose: If I can convert an angry customer to a member of my LinkedIn network, that's social success.
How do you educate & evangelize the program w/in the enterprise for people/departments that may be reluctant?
@WhitneyAEden: Show them how social can be a benefit to them and increase their productivity and is not just a meaningless activity
@datagenius: By showcasing competitive strategies that are empowered by social media data, you can get traction and interest
@JulieLangenkamp: Supporting colleagues and coworkers with social shout outs help others be more engaged
What technology features do you look for to support the social strategy?
@datagenius: Built-in ability to manage data governance, access, analyze data, custom rules 4 processing, integrate with analytical tools
@pisarose: A big plus for social technology: integration into existing tech already used in everyday workflow. Convenient.
What’s the best business use of social media that you’ve heard? I know fun and creative examples exist
@datagenius: Micro-Targeted Offers while people shop at a mall or store is the most revenue generating example.
@datagenius: The use of Social Media during Hurricane Sandy is a very compelling story from recent times
Any final tips/thoughts before we wrap up?
@datagenius: Social Strategy will be a big need considering the Employees of Future - Gen Z & Millennials, companies need 2 wake up NOW
@JulieLangenkamp: Always ask: Does this represent my brand well? Does this represent me well? Does this convey the message I want?
Join us May 14th at 1pm ET for the next #IMChat on trends in mobility.
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