5/1/12 Socially Engaged Companies See 4X Greater Business Impact

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Points of View is our blog dedicated to exploring the critical corporate communications issues of the day through insights and videos of Fortune 500 business andcommunications execs, industry insiders and our team.

Organization OptimizationWATCH Bob Feldman, Co-Founder and Partner in PulsePoint Organizational Design & Change Management.

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Marketing StrategyWATCH Michael Gale, recognized industry expert in integrated technology marketing, discuss digital and social engagement strategy.

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Oscar Suris on Keys to Success in Any IndustryOscar Suris, EVP of Corporate Communications at Wells Fargo who recently transitioned from the auto industry to financial services, communicator in any industry.

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PulsePoint Group Corporate Communication Index Series Part 4: Bob Feldman, partner of PulsePoint Group provides commentary on the firm’s Corporate Communication Index. This is the fourth in a series of videos where he providesinsight into the findings.

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Digital Innovation: Part 1A few signs have suggested an end to the recession may be on the horizon. As our clients’ businesses pick up they are investing in revitalizing products and services. They arekick-starting their innovation initiatives. Many of them are exploring crowdsourcing and co-creation options, and we have a lot of experience in this area. In the next coupleweeks I am going to post 2-3 videos on digital innovation. The first one (posted here) looks at five cases I really like: Foldit, Dell ’ s IdeaStorm (we worked on this one),Cisco ’ s iPrize, P&G Innovation and AT&T ’ s internal innovation initiative. Let me know what you think.

Digital Innovation: Part 1

Lisa Ryan - The Comms Job MarketLisa Ryan, SVP/Managing Director of Heyman Associates, the NYC-based search firm specializing in communications, discusses the job market for communications intoday’ s uncertain economy.

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A Socially Engaged Enterprise and the Imperative of C-suite Advocacy.Jeff Hunt, PulsePoint Group partner, provides a definition of a socially engaged enterprise and discusses the imperative of C-level advocacy for social engagement success.Click here to view this video regarding “A Socially Engaged Enterprise and the Imperative of C-suite Advocacy.”

A Socially Engaged Enterprise and the Imperative of C-suite Advocacy.

Methodology and Social Journey Maps.Michael Gale, PulsePoint Group partner, discusses the methodology behind a new study, conducted in collaboration with The Economist Intelligent Unit, “The Economics ofthe Socially Engaged Enterprise.” He explains executives’ perceptions on the business value of social engagement and presents a social journey map for companies to follow.Click here to view this video regarding “Methodology and Social Journey Maps.”

Methodology and Social Journey Maps.

5/1/12 Socially Engaged Companies See 4X Greater Business Impact

2/4www.pulsepointgroup.com/2012/03/socially‑engaged‑companies‑see‑4x‑greater‑business‑impact/

Socially Engaged Companies See 4X Greater Business ImpactPaul WalkerMarch 28th, 2012

The past few years the c-suite has been willing to take a leap of faith on the benefits of social engagement. The declining impact of traditional media, explosive growth ofsocial media and anecdotal evidence of social successes motivated them to do so.

But 2012 will be the year CEOs, CMOs and CCOs establish KPIs and benchmarking to better measure performance. That’s one finding of our just-released study: “TheEconomics of the Socially Engaged Enterprise” we conducted in collaboration with The Economist. Some other highlights:

The average return on social engagement was calculated to be between 3-5%. The most engaged businesses are reporting a calculated 7.7% business impact specificallyfrom social engagement, which is four times the performance of the lowest performers who only achieved a 1.9% estimated return.The top two areas where executives thought social engagement had real value were improved marketing and sales effectiveness (84%) and increased sales and marketshare (81%).C-suite advocacy is critical, now and in the future. Two-thirds of the organizations achieving the highest returns reported that their C-suites are active advocates- that is,they commit to social engagement as a strategy and they reallocate resources to make it happen.However, a full 28% of C-suite executives still don’t believe in social engagement. And the number one reason? The inability to gauge ROI (45%). For engagement towork, the C-suite has to believe in it and see measurable returns.Executives defined social engagement today as online listening (28%), blogging (24%) and building relationships with online influencers (21%). But the top performershave a different view – they will be more focused on ideas and action in the next two years. Big-return companies crowdsource new products (57%), or let customersparticipate in developing ideas — they are predicting a significant portion of new products will be derived from social engagement insights.

In the coming weeks we’ll be hosting a series of webinars with BrightTalk and releasing more information from the study. In the meantime, we’d love to know – is yourmanagement starting to get more serious about measuring business impact?

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