Business in a Networked World
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1) Traditionally, business aimed to efficiently organize work through specializing labor, but the interactive web has allowed markets to better self-organize faster than companies through networked conversations. 2) If markets are conversations, then the interactive web has enabled new forms of social organization and knowledge exchange through networked conversations, making markets smarter and better informed. 3) Embracing social media allows companies to influence customers through these conversations rather than solely exerting control, and those that do so most effectively will be most successful.
Business in a Networked World
- 1. A Look at Business in a Networked World of the Interactive WebRichard Binhammer, Social Media and CommunityJune 21, 2011, The Corporate Social Media Summit
- 2. Traditionally, Business and Technology: aimed to deliver efficient organization of work through specialization of labor 1776, Adam Smith, Wealth of Nations2
- 3. Markets always were about conversations? 3
- 4. Business Always Succeeded and Grew based on word of mouth… more so with the social Web
- 5. Internet: Unlike other technologies, the Web was unpredictable; opened more opportunities to change perspectives anywhere it reached5
- 6. Today, Interactive Web:First time in history, technology at home has evolved faster than for business becoming so pervasive that business is catching up to consumer expectations about connectivity, ease of use and how to useSource: Mary Meeker, 2010 Internet Trends
- 7. If Markets are Conversations…“Networked markets are beginning to self-organize faster than the companies that have traditionally served them. Thanks to the web, markets are becoming better informed, smarter, and more demanding of qualities missing from most business organizations. Markets are conversations. Markets consist of human beings, not demographic sectors. Conversations among human beings sound human. They are conducted in a human voice, Whether delivering information, opinions, perspectives, dissenting arguments or humorous asides, the human voice is typically open, natural, uncontrived.”7Source: Cluetrain Manifesto
- 8. …..But (Social Media) Conversations are Not Just MarketingIn both internetworked markets and among intranetworked employees, people are speaking to each other in a powerful new way.These networked conversations are enabling powerful new forms of social organization and knowledge exchange to emerge.As a result, markets are getting smarter, more informed, more organized. (not siloed or segmented the way we normally think)Participation in a networked market changes people fundamentally.8
- 9. The world around us is changing9Control is not as successful as influencecompanies that embrace this the fastest will winDisintermediation between the customer and the expert is happening already
- 10. Users spending moretime across the web engaging –beyond company’s website
- 11. Customerstrust their peers more than anyone else
- 12. Traditional methods are not scaling; Does Social Media?10Five years of experiments and experienceDecember 2006Ratings and reviews on Dell.comOctober 2007Michael Dell quote in Business WeekJeff Jarvis story quote, “These conversations are going to occur whether you like it or not. Do you want to be part of that or not? My argument is you absolutely do. You can learn from them. You can improve your reaction time. And you can be a better company by listening and being involved in that conversation.”May 2008Dell Outlet achieves $0.5M in sales via TwitterCommunity team active on TwitterSmall Business blog launchedJune 2009Global Twitter revenues of $6.5 MDell named #1 most social brand in ranking of 100 top brands February 2006Michael Dell AsksWhy don’t we reach out and help bloggers with tech support issues?August 2006Blog outreach expands beyond tech supportMarch 2008Accepted Solutions launched on Community Dell France begins Online Community OutreachMarch 2010China Micro-BloggingFebruary 2007IdeaStorm LaunchedA voting based site allowing customers and others to submit ideas for Dell.January 2009Dell Organizes in to4 customer focused business unitsJune 2009$2M+ Salesvia TwitterSocial Media Listening Command Center 200620072008200920102011Dell Social Media and Community University launched/5,000 teammembers trained byend of year(Aug.)July 2006Direct2Dell launchedToday Direct2Dell exists in English, Spanish, Norwegian, Japanese and Chinese. June 2007Dell joins TwitterDell launchesEmployeeStormInternal Blogs Launched for Employees.April 2008Inside IT launchedBlog focused on business customers, and Cloud Computing.2009Dell TechCenterJanuary 2008Dell aligns organization for successAltimeter recognizes Dell with “Open Leadership Award for Innovation and Execution”(Oct.)Spring 2009Some Members of Community and Conversations deployed within each of the new Dell Business unitsDecember 2009Huffington Post BlogDelllaunchesB2B pagesFacebook(Jun.)April 2006Techsupport outreach to blogsJanuary 2007StudioDell launchedDell’s video and podcast site, with helpful tips and tricks. Eventually expanding this into the YouTube channel making sharing easier.February 2008Twitter expandedNovember 2007DellShares launchedThe first investor relations blog by a public company.June 2008Channel blog launched
- 13. Recognizing & Aligning a Powerful EcosystemDell.comOur CommunitiesExternal CommunitiesTeam MembersConfidential11
- 14. 12Confidential3/21/2011Listening to Be A Better Business, Across the BusinessFrom 4,000 posts/day to 26,000 posts/day
- 15. 13Don’t Look, Listen or Touch This is not a strategy that works.
- 16. Listen, Engage, Act. It’s at the heart of all strategies…But How to Scale?Think of it as a tool, not a channel
- 17. Campaigns Scale, but are capital intensive.You can not buy fans & followers for life …
- 18. A Tool to be Leveraged Across the Fabric of a Company: different functions, uses and valuesProduct DevelopmentFeedback Loop
- 19. Early Warning
- 20. New Product IdeationMarketingDemand Forecast
- 21. Lead Generation
- 22. Message ReachOnline PresenceRatings & Reviews
- 23. Communities
- 25. Collaboration
- 28. Support Widgets
- 30. Brand Reputation
- 31. Influence
- 32. ReputationCustomer Centricity:Inform and Drive Every Part of the BusinessThe Social Radio for All Employees17
- 33. Empowering Employees: Social Media & Community UniversityPrinciples Policy Governance Training & tools
- 34. Starting Down a New Road, in a Vehicle, yet to be provenEven today, the Infrastructure is evolving19
- 36. Lesson: Yes Virginia, there is ROI. It is measurable in many forms, there is not 1 number …
- 37. Making Businesses Less Machine and more Networked Organism?A Human Organization22
- 38. Thank You
Editor's Notes
- #6: The shape of the online universe. This image shows the hierarchical structure of the Internet, based on the connections between individual nodes (such as service providers). Three distinct regions are apparent: an inner core of highly connected nodes, an outer periphery of isolated networks, and a mantle-like mass of peer-connected nodes. The bigger the node, the more connections it has. Those nodes that are closest to the center are connected to more well-connected nodes than are those on the periphery. The core: At the center of the Internet are about 80 core nodes through which most traffic flows. Remove the core, and 70 percent of the other nodes are still able to function through peer-to-peer connections.
- #11: August 2006Blog Outreach Expands Beyond Tech SupportEngagement with anyone who commented about the company. Business model and other issues considered.August 2006Blog Outreach Expands Beyond Tech SupportEngagement with anyone who commented about the company. Business model and other issues considered.June 2007Dell joins TwitterWhy don’t we reach out and help bloggers with tech support issues?February 2008Twitter ExpandedStart experimenting with Twitter for business– another venue to help customers, but also thanking Dell customers. Outreach leads to some Twitters asking for help on purchases.May 2008Dell Outlet Achieves $0.5M in Sales via TwitterCommunity team active on TwitterJune 2009 $2M+ Sales via TwitterDell outlet on Twitter surpasses $2 million in sales with another $1 million dollars in sales at dell.com 2009Dell TechCenterA Collaborative Community for Datacenter pros grows by 400%December 2009Huffington Post BlogDell’s VP of Social Media and Community, Manish Mehta, begins blogging at Huffington PostJune 2009Global Twitter Revenues of $6.5 M Community across the social web =3.5 million direct customer connections