social technology enables business inside and out

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Cloud computing inc. mobile

Project and time tracking software

Collaborative work tools and knowledge sharing e.g. wikis, internal social networks, crowdsourcing platforms

Virtual working technologies

Recruitment and business contact networks

Digital profiles

Promotional tools like corporate blogs, microblogging and networks (which attract and retain talent)

Influence dashboards

Realtime monitoring solutions

Online sentiment analysis

Automated moderation software

Analytics and reporting tools

Competitor insight tools

Virtual service tools

Realtime monitoring solutions

Wikis/crowdsourcing platforms

Online survey/ad platforms

Social networks and brand communities

Analytics tools

Collaborative problem-solving platforms e.g. message boards

Monitoring Tools

Communities

Virtual worlds/Metaverses

Real-time analytics

Enhanced comms tools like webcasts, social networks, blogs

Collaborative work tools and platforms

Polls/Surveys

Open source technologies

Widgets and Apps

Data analytics, reporting and visualization

Micro-financing platforms

Online monitoring tools

Crowdsourcing e.g bespoke social networks, discussion boards, email feedback generators, idea submission and ranking platforms, wikis

Research/surveys/Q&A tech

Virtual goods & services

More accurate pricing and/or better profit margins

Higher staff retention

Lower CPA of new hires

Decrease travel costs

Reduce recruitment time

Reduction in staff turnover

Reduce staff costs

Higher positivity (+ vs. competitor)

Acquring customers away from competitors

More up-to-date info, more often

Reduce spend on independent reports

SEO metrics like google ranking, keyword performance, organic search traffic, mitigating negative commentary

Faster resolution turn around

Increase in repeat customer/customer retention

Increase in customer satisfaction

Reduction in negative sentiment

Reduction in Op Ex

Reduction in paid media spend

Increase and/or more targeted reach

Returning customers

Volume of WOM

Sales data: acquire, repeat/increase purchase, reduce return, cross sell, friend-get-friend

Engagement metrics

Measuring effectiveness of campaigns: Reach, Engagement, Positive Sentiment, Negative Sentiment

Additional revenue generated

Reduction in refunds/returns

Reduction/elimination crisis spend inc. PR, product recall

Increase/maintain share price

Increase Profit

Reduce Cost of Business

Greater visibility across the business with data and feedback

Improved flexibility of business

Raise profile of company and individuals

Meet sustainability objectives

Win awards

Increase longevity of business/growth

Decrease time to market

Streamline product/services range to reduce costs

Sales increase

Reduce market research and user group testing spend

Increase market share

Reduction in staff turnover

Reduce staff costs

Benefits Benefits

Benefits Benefits

Benefits Benefits

Social Tech Social Tech

Social Tech Social Tech

Social Tech Social Tech

Metrics Metrics

Metrics Metrics

Metrics Metrics

v 1.0Shannon Boudjema @shannonboudjemaPaul Armstrong @munkyfonkey www.SoTechNow.comDarika Ahrens @darika

Related Roles/Departments: HR, IT, Ops, Snr ManagementThe Operational benefits of using Social Tech mainly relate to saving money vs. making money for the business. Social technologies often have a very direct effect on productivity (e.g. the use of collaborative work tools) as well as traditional IT management (e.g. shift to cloud computing, reduce data duplication). There are also a wealth of benefits with regards to human resource from recruitment (eliminating recruiters, global talent pool thanks to remote working technologies, reducing likelihood of wrong hires and promoting the company as a great place to work) to retention by giving employees greater work satisfaction and aiding skills development. All of these areas can have a measurable effect on the bottom line.

Related Roles/Departments: R&D, Product/Brand Management, Sales, Innovation, Director & Board levelThere are a multitide of social technologies available to those guiding the strategic direction of business from insights to innovation. There are numerous stakeholder benefits from management & employees, to shareholders as well the potential for brand awareness and business growth - today and in the future.

Related Roles/Departments: R&D, Product/Brand Management, Sales, Innovation, Director & Board levelSitting squarely in business development is the potential for social technologies to not only reduce research/trial time and decrease time to market but increase revenue and market share by using indepth customer insight and even collaborative working to streamline and create products which customers will buy. Crowdsourcing and innovation is increasingly being used by forward-thinking businesses.

Related Roles/Departments: Marketing, Customer Service, Brand Manager, Director & Board level, Shareholders

By far one of the most valuble parts of a business is the brand; growing and maintaining a reputation. Social technologies provide both solutions (via online monitoring capabilities) AND challenges (like scalability and ownership), which are worth evaluating to protect and increase the value of the brand.

Related Roles/Departments: Customer Service, Sales, R&D, Brand/Product Manager, Marketing

If the old adage - It’s cheaper to keep a customer than find a new one is true, then social technologies can deliver increased revenue as well as a reduction in cost to provide the levels of service customers expect - while driving and maintaining customer satisfaction.

Related Roles/Departments: Customer Service, Sales, R&D, Brand/Product manager, Marketing

Customers are at the heart of every business with social technologies having wide ranging benefits on loyalty, avg spend, frequency of spend, referrals and overall customer satisfaction. In addition social technologies deliver deep insight into customer demand as well as the potential for greater customisation. For marketers, much of what they deliver should impact here but with many never measuring the results of their efforts or true ROI.

Incentive and promotional tools & communities

Paid Media like Paid Search, PPC, Display, Targeted ads,

Direct mail

Brand Owned Channels like blogs, video, image, websites, communities

Earned Media/WOM/viral marketing

Analytics & Reporting tools

Social Commerce tools

Digital and mobile apps

Social CRM software and tools

Customer profiling & tracking tools