Let's face it, there are plenty of examples emerging of organizations doing great things with social technologies -- but just how many are having a measurable impact on their organization's goals?
If you think your organization is already doing great things with social technology you may be right. If you are seeing measurable results, I encourage you to nominate your organization for a Groundswell award.
What's a Groundswell award? Josh Bernoff, one of the authors of Groundswell, explains the history of the award in his blog here. Each year we review multiple nominations across various categories of social technology use; we identify the examples we believe best demonstrate the criteria for winning each award. We have categories that include internal and external uses of social technologies, and we're especially interested to see examples of strong collaboration between IT and Marketing. This is the fifth year we are running these awards (you can see past winners here and a full list of award categories below).
Back in April I published a report called Take Control of Your Social Marketing, which looks at the emerging market of social marketing management tools. In it, I identified three groups of these tools: the social publishing platforms, the social promotion builders, and the platforms that focus on both.
In the two brief months since that report came out, the volume of questions I get about the topic has skyrocketed. I can’t say this is surprising, as our own research is showing that many marketers are reaching a level of social marketing maturity at which tools like these can greatly increase the efficiency and success of their programs. There’s also been a lot of press coverage of the moves, changes, and announcements coming out of the vendors in this space, which has undoubtedly raised the profiles of these companies with marketers.
In January, Vitrue, a company that falls into the “concentrating on both” category and which wasn’t able to participate in the original report, announced the closing of a $17 million series C financing round.
In February, Syncapse Corp. made its own financing announcement -- an investment commitment of $25 million.
In March, SocialWare announced a partnership with LinkedIn that brings its regulatory compliance expertise and tools to the professionals’ social network.
Forrester’s book Groundswell made the power of social media tangible with real-world examples and laid out a framework to help onboard organizations. However, many companies today still struggle to benchmark their social media journey, manage bottom-up social activities, and prove the ROI of social media activities. The new chapters published in the just-released expanded and revised edition of Groundswell highlight some best practices. Here are some of them:
Understand why you are embarking on the social journey, and connect social media objectives to the company strategy. Ask hard questions like “Will my social presence help move the customer satisfaction needle?”, “Will it help sell more products?”, and “Will it deflect costs from my service center?”.
Treat social media as another channel in which to engage customers. Customers still want to call you (a surprising 67% of the time), email you, and chat with you. Make sure that your processes, policies, and communicated information are the same across all channels — traditional and social.
Connect your social media efforts. There may be many social media technologies used within your company. Ensure that there is some level of coordination between internal organizations so that you can uphold a consistent experience and brand for your customers.
Start small and staff social media initiatives with existing employees who understand your customers and your business. This is important to help extend your brand — your DNA — to your social channels.
It’s been almost a year since I wrote Latin American Social Technographics® Revealed, which demonstrated this group of consumers’ voracious love of social media. In that report I highlighted how this high level of social engagement is not exclusive to just entertaining themselves or connecting with family and friends. In fact, it also extends to interacting with companies, with activities such as reading their blogs, following them on Twitter, or even watching a video they produced.
Given the ease with which companies can connect with online Latin Americans via social media, I’ve now published a new report entitled Take Advantage: Latin American Consumers Are Willing Co-Creators that examines whether companies can extend this interactive and social connection with consumers into the realm of co-creation in the social online world. My colleague Doug Williams, who focuses on co-creation processes for the consumer product strategy professional, defines “social co-creation” as the process of using social technologies as a vehicle to execute co-creation engagements.
To examine the viability of social co-creation in Latin America, we assessed the factors that we feel are crucial for a successful social co-creation engagement to occur. They are:
A high level of engagement with social media — especially at the Conversationalist and Critic levels.
A high degree of interaction with companies using social media tools.
An inherent willingness to co-create with companies.
Cloud computing continues to be hyped. By now, almost every ICT hardware, software, and services company has some form of cloud strategy — even if it’s just a cloud label on a traditional hosting offering — to ride this wave. This misleading vendor “cloud washing” and the complex diversity of the cloud market in general make cloud one of the most popular and yet most misunderstood topics today (for a comprehensive taxonomy of the cloud computing market, see this Forrester blog post).
Software-as-a-service (SaaS) is the largest and most strongly growing cloud computing market; its total market size in 2011 is $21.2 billion, and this will explode to $78.4 billion by the end of 2015, according to our recently published sizing of the cloud market. But SaaS consists of many different submarkets: Historically, customer relationship management (CRM), human capital management (HCM) — in the form of “lightweight” modules like talent management rather than payroll — eProcurement, and collaboration software have the highest SaaS adoption rates, but highly integrated software applications that process the most sensitive business data, such as enterprise resource planning (ERP), are the lantern-bearers of SaaS adoption today.
Late last night the market research vendor landscape became a little more consolidated with the announcement that e-Rewards reached an agreement to acquireConversition Strategies. This is not the first, nor probably the last, move that e-Rewards will take in growing a versatile offering in the market research industry. In 2009, e-Rewards, acquired UK-based online panel provider Research Now, which allowed it to become an online panel provider with global reach. And in 2010 e-Rewards acquired Peanut Labs, which enhanced its panel by offering a social media specialty sample that is recruited and surveyed through social and gaming networks. The acquisition of the Conversition platform EvoListen will allow e-Rewards’ clients to listen and analyze, in a market researcher’s terms, what consumers are saying on social media.
This announcement is significant for the market research industry because it:
. . . but bad reactive marketing can make the problem much worse.
[co-authored by Zachary Reiss-Davis]
As has been widely reported, in sources broad and narrow, Amazon.com’s cloud service EC2 went down for an extended period of time yesterday, bringing many of the hottest high-tech startups with it, ranging from the well known (Foursquare, Quora) to the esoteric (About.me, EveryTrail). For a partial list of smaller startups affected, see http://ec2disabled.com/.
While this is clearly a blow to both Amazon.com and to the cloud hosting market in general, it also serves as an example of how technology companies must quickly respond publicly and engage with their customers when problems arise. Amazon.com let their customers control the narrative by not participating in any social media response to the problem; their only communication was through their online dashboard with vague platitudes. Instead, they allowed angry heads of product management and CEOs who are used to communicating with their customers on blogs and Twitter to unequivocally blame Amazon.com for the problem.
Social technology is coming into every organization whether IT wants it or not. The adoption of social technologies to support business and customer needs has been fastest outside of IT — often with IT playing catch-up and struggling to provide value. CIOs are at a crossroads where they can either choose to lead IT toward social business maturity or sit back and watch as the rest of the organization pushes ahead, leaving IT in social business obscurity. The choice is easy, but the execution is difficult. A new report — Social Business Strategy: An IT Execution Plan — suggests CIOs should assess the organization’s current social maturity and implement a plan that positions IT to successfully support a social business strategy.
Organizations are broadly categorized as social laggards, internally mature, externally mature or enterprise mature. The approach recommended for CIOs differs based on the maturity level. For example, CIOs in organizations with strong internal maturity should focus on developing a partnership with marketing in order to extend the use of social strategy out to customers and business partners.
While very few organizations are already at the enterprise maturity level, CIOs in these organizations can take an active role in developing social business strategy by supporting the creation of a social business council and dedicating staff to support social strategy.
This is Peter O’Neill and I had a very busy Forrester Marketing Forum last week in San Francisco: two presentations (well, two halves, I suppose, because I was the co-presenter) plus dozens of one-on-ones with Forrester clients. While I would have preferred to talk about differentiation in the customer lifecycle, the theme of my first Forum presentation and my most recent report, the incorporation of social media into the marketing mix continues to be the hottest topic for most tech marketers. It was exciting to be able to share our brand new Tech Buyer Social Technographics data which has just come in. BTW, the level of social media activity in European buyers is still ahead of American buyers – I will be presenting the European data in my planned Forrester teleconferences on May 9th: once in German for local clients, prospects and press; and once in English for other Forrester clients.
Oracle announced today that it is going to cease development for Itanium across its product line, stating that itbelieved, after consultation with Intel management, that x86 was Intel’s strategic platform. Intel of course responded with a press release that specifically stated that there were at least two additional Itanium products in active development – Poulsen (which has seen its initial specifications, if not availability, announced), and Kittson, of which little is known.
This is a huge move, and one that seems like a kick carefully aimed at the you know what’s of HP’s Itanium-based server business, which competes directly with Oracle’s SPARC-based Unix servers. If Oracle stays the course in the face of what will certainly be immense pressure from HP, mild censure from Intel, and consternation on the part of many large customers, the consequences are pretty obvious:
Intel loses prestige, credibility for Itanium, and a potential drop-off of business from its only large Itanium customer. Nonetheless, the majority of Intel’s server business is x86, and it will, in the end, suffer only a token loss of revenue. Intel’s response to this move by Oracle will be muted – public defense of Itanium, but no fireworks.