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On Social Media Becoming Social Business – David Armano – Harvard Business Review

We are entering an age of social business: a purposeful, planned, orchestrated, and integrated way of doing business in a social context which may feel personal to the outside world but combine complexities internally within organizations that will need navigating. As further evidence to the shift, one can look to technology for yet another clue.

Over the past several years, forward-thinking companies have begun to understand the value of monitoring conversations, so they have purchased software licenses from platforms like Radian 6. Recently, Enterprise software behemoth Salesforce acquired the startup, sending the signal that listening to social conversations is only one slice of the bigger pie for business. The true opportunity lies in scaling and operationalizing “social”. If the next phase of social media is operating as a scalable social organization or business, then expect to see an explosion of activity in the following areas:

via On Social Media Becoming Social Business – David Armano – Harvard Business Review.

If you haven’t read this article please do so before continuing to read this post. David is a thought leader in the social media space. We have to thank David for validating our business model with his post.

He highlights 3 areas of focus:

  1. Organizational Design – a social business is redesigned as it moves through key phases of its evolution. All business functions have to undergo several iterations of change. Looking at your organization from a social business lens means looking at it more holistically.
  2. Social Business Intelligence: The rise of social media led to a gold rush in technology solutions, which allowed organizations to eavesdrop on conversations happening across multiple social ecosystems and digital public spaces such as the blogosphere, message boards, and Facebook.
  3. Cultures of Collaboration, Co-Creation & Shared Value – The end result is what’s commonly known in the business world as an ecosystem in which value is entered into it and extracted by multiple stakeholders for mutual gain. An ecosystem, by definition, is sustainable.

At C7 we believe in skating to “where the puck is going to be” and not distracted by the latest shiny object. We’re also founded by 20 year Enterprise veterans that can translate all the benefits and complexities of “social media” and make it useful for the enterprise. So we created 4 management consulting “practices” to meet the needs of the 21st Century corporation.

  1. Community Platforms

    Communities are the new strategic advantage. Communities offer collective wisdom, idea generation, improved loyalty, purchasing power and message amplification.

  2. Social Intelligence

    You’ve got business intelligence so why not social intelligence? We give you a 360 view of what people are saying about you on the social web using the most advanced tools on the market.

  3. Social Applications

    More people now interact with your brand via an app than your website. We build social applications that help our clients increase revenue, decrease cost, and accelerate innovation.

  4. Social Media Risk Management

    What are your employees posting on Facebook and Twitter? You can mitigate the compliance, HR and Legal risks. Minimize damage to your brand.

As David says in conclusion:

Organizations that integrate social into how they do business will embrace social as a layer that’s woven into the fabric of each business function over time. In the era of social business, external media will always play a role, but it will be the tip of the iceberg.

We’re betting big that social business will be big business, too. The better way to do business. We’re looking forward to building social ecosystems and helping companies see the big picture when it comes to social.  We urge you to get in touch with us for independent and executable advice. Do it today.

 

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