social business - capturing the digital opportunity in uk plc
DESCRIPTION
Few organisations today are unaware of the social phenomenon cutting a swathe through the traditional business landscape. Awareness and engagement though, are very different beasts. Deloitte has just published its latest report, in conjunction with MIT, investigating just how seriously UK organisations are taking social business - not just how they view it intellectually, but what they are actually doing to make use of new socially-oriented tools, technologies and principles. Download the full report: http://www.deloitte.com/view/en_GB/uk/services/audit/enterprise-risk-services/services/digital-risk/social-business/index.htmTRANSCRIPT
MAKING THE CASE FOR SOCIAL BUSINESS
Top three barriers to adoption of social business Primary perceivedoperational benefitsof social business
TOO MANY COMPETING PRIORITIES
37%LACK OF MANAGEMENT UNDERSTANDING
28%
IMPROVING EMPLOYEE MORALE AND MOTIVATION
30%
BREAKING DOWN SILOS35%
MARKETING40%
SALES21%
CUSTOMER SERVICE20%
PRODUCT DEVELOPMENT18%
RISK MANAGEMENT10%
HUMAN RESOURCES11%
UK organisations are not yet fully confident in making solid business cases for social business initiatives. Several significant barriers remain, and perceived benefits are often marginal for anything but mainstream usage. Success metrics are still very basic, and expectations for positive results are generally low.
LACK OF OVERALL STRATEGY
35%
GOBBLEDYGOOK!
Primary perceived strategic benefits of social business
ACCESS TOMARKETING DATA
30%ENHANCED CUSTOMERSATISFACTION
28%INCREASED COMPETITIVENESS
30%FASTER TIME TO INNOVATE25%
Departments making extensive use of social business
Top 3 departmental uses of social business
On a scale of 1 to 10, how close is your organisation to an idealised, fully integrated social business?
SOCIAL BUSINESS AT WORK – WHO’S USING IT?Unsurprisingly some departments make better and more extensive use of social business than others. While conventional applications such as sales and marketing are relatively widespread, organisations are not yet seeing the value for talent management, finance and product development. Data from social initiatives is often ignored when developing strategy or understanding market shifts.
A RISKY MEDIUM WE ARE FORCED TO CONFRONT
6%
JUST ANOTHER COMMUNICATIONS TOOL57%
AN OPPORTUNITY TO FUNDAMENTALLY CHANGE THE WAY WE WORK
34%
OF ORGANISATIONS SAY THAT SOCIAL BUSINESS IS IMPORTANT FOR MANAGING BRAND AND REPUTATIONAL RISK
44%OF ORGANISATIONS CITE SECURITY RISK AS A SERIOUS BARRIER TO ADOPTION OF SOCIAL BUSINESS
11%
OF ORGANISATIONS MAKE EXTENSIVE USE OF SOCIAL BUSINESS FOR RISK MANAGEMENT
10%
BALANCING THE RISK
Organisational perception of future social business impact
Risk perception of social business
To many respondents, social business is a risk – a barrier to its widespread adoption. Others, though, see it more positively as a way to actually manage organisational risk more proactively. Perhaps the greatest risk of all, though, is indifference, more than half of organisations believe that social business is just another communications tool, rather than an opportunity to fundamentally improve the way they do business.
ENGAGING KEYSTAKEHOLDERS
33% 16%
CROWDSOURCING30%
DRIVING BRAND AFFINITY26%
1
2
3
4
5
6
7
8
9
10
18%
4%
0%
2013
THE STATE OF PLAY: SOCIAL BUSINESS IN UK PLC
Timelines for business
Fastest-growing uses of social business within UK plc in the last 12 months
How often do you use social business to support day-to-day decision-making?
2016
OF ORGANISATIONS BELIEVE SOCIAL BUSINESS WILL BE IMPORTANT IN 2016
74%
OF BUSINESSES BELIEVE THAT SOCIAL BUSINESS IS IMPORTANT TODAY
33%
25%NEVER OR RARELY OCCASIONALLY
40% 26%EVERY DAY9%
OFTEN
CROWDSOURCING39%
DRIVING BRAND AFFINITY
35%MANAGING REPUTATION35%
Social business is creeping onto the radar within most UK organisations, but progress remains slow. Many companies remain unconvinced of its immediate value, and today, its use is largely confined to mainstream applications such as marketing. But there are positive signs of change, with crowdsourcing in particular showing strong signs of growth.