social business - capturing the digital opportunity in uk plc

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MAKING THE CASE FOR SOCIAL BUSINESS Top three barriers to adoption of social business Primary perceived operational benefits of social business TOO MANY COMPETING PRIORITIES 37% LACK OF MANAGEMENT UNDERSTANDING 28% IMPROVING EMPLOYEE MORALE AND MOTIVATION 30% BREAKING DOWN SILOS 35% MARKETING 40% SALES 21% CUSTOMER SERVICE 20% PRODUCT DEVELOPMENT 18% RISK MANAGEMENT 10% HUMAN RESOURCES 11% 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% GOBBLEDY GOOK! Primary perceived strategic benefits of social business ACCESS TO MARKETING DATA 30% ENHANCED CUSTOMER SATISFACTION 28% INCREASED COMPETITIVENESS 30% FASTER TIME TO INNOVATE 25% 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 TOOL 57% 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 KEY STAKEHOLDERS 33% 16% CROWDSOURCING 30% DRIVING BRAND AFFINITY 26% 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 DAY 9% OFTEN CROWDSOURCING 39% DRIVING BRAND AFFINITY 35% MANAGING REPUTATION 35% 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.

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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.htm

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Page 1: Social Business - capturing the digital opportunity in UK plc

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.