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reportsocialreadiness082911review-1-110830145947-phpapp02 (1)

reportsocialreadiness082911review-1-110830145947-phpapp02 (1)

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Published by Juliana Guerra

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Published by: Juliana Guerra on Nov 11, 2011
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11/11/2011

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 © 2011 Altimeter Group Attribution-Noncommercial-Share Alike 3.0 United States
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1
By Jeremiah Owyang
with Andrew Jones, Christine Tran, and Andrew Nguyen
Includes input from 63 ecosystem contributors, survey data from 144social business program managers, and analysis of 50 social media crises
 
Social Business Readiness:How Advanced CompaniesPrepare Internally 
Social media crises are on rise, yet many can be avoided through preparation.
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August 31, 2011
 
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 © 2011 Altimeter Group Attribution-Noncommercial-Share Alike 3.0 United States
!!
 
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Table of Contents
Executive Summary....................................................................................................................3
 
Hypothesis...................................................................................................................................4
 
Methodology...............................................................................................................................4
 
Ecosystem Input.........................................................................................................................4
 
 Advanced Companies Prepare for Social Business Success in Four Ways.........................6
 
Finding 1: Baseline governance and reinforcement enables employees to participate safely andprofessionally................................................................................................................................6
 
Finding 2: Enterprise-wide response processes enables rapid customer engagement..................................................................................................................................9
 
Finding 3: Ongoing education program and best practice sharing fosterscontinued learning.......................................................................................................................10
 
Finding 4: A dedicated and shared central hub, often named the“Center of Excellence,” provides leadership...............................................................................11
 
Focus: Anatomy of a Social Media “Center of Excellence” Program..........................................15
 
Companies Prepared for Social Business Increased Efficiency and Reduced Risk..........16
 
 Advanced Companies Still Lack Key Processes, Measurements, and Standardized ToolSet..............................................................................................................................................19
 
Focus: Social Media Crises Are on the Rise –Yet Many Can Be Diminishedor Averted with Internal Preparation...........................................................................................17
 
Pragmatic Recommendations: Climb the Social Business Hierarchy of Needs................18
 
Foundation: First, develop a business plan and put governance in place..................................20
 
Safety: Then get organized by anointing a team and process to deal with crises......................22
 
Formation: Next, connect business units to increase coordination and reduce duplication.......22
 
Enablement: Grow by letting them prosper – give business units the support andflexibility to reach goals...............................................................................................................23
 
Enlightenment: Finally, weave real-time market response into business processesand planning...............................................................................................................................24
 
Conclusion.................................................................................................................................24
 
Open Research.........................................................................................................................25
 
Permissions...............................................................................................................................25
 
Disclosures................................................................................................................................25
 
Endnotes....................................................................................................................................26
 
 About Us....................................................................................................................................28
 
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 © 2011 Altimeter Group Attribution-Noncommercial-Share Alike 3.0 United States
!!
 
3
Executive Summary 
 
Social media crises on the rise – yet most companies are ill-prepared.
Companies arequick to deploy the latest social media technology, yet most have not prepared for the threat ofsocial media crises, or long-term effects on business. While the incidence of social mediacrises is on the rise, we found that more than three-fourths (76%) could have been diminishedor averted had companies invested internally.
 Advanced companies invest in four social business requirements – but are still deficient
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 We interviewed and surveyed some of the world’s most advanced companies in socialbusiness, and found most invest in four social business requirements. Advanced companiesestablish governance, define real-time processes, foster a culture of learning, and organize intoa scalable formation. However, despite these investments, even Advanced companies have yetto tie customer data to the product roadmap and into support systems. Furthermore, theycontinue to struggle with a fragmented technology set and lack standard measurementframeworks.
To become advanced, companies must climb the Social Business Hierarchy of Needs.
 Learn from where others have succeeded and failed – companies should follow the SocialBusiness Hierarchy of Needs. First, develop business objectives and establish governance,then get organized by establishing a team and a process to deal with crises. Next, connectbusiness units to increase coordination and reduce duplication. Finally, weave real-time marketresponse into business processes and planning.

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