Month: July 2009

Enterprise 2.0 + Social Marketing = Groundswell! The revolution takes hold

I have noticed more and more lately that Corporates are starting to pay attention to this revolution. Research shows that Enterprise 2.0 practices and Social Marketing initiatives are taking hold, that those organisations who embark on a trial, of what Im calling Corporate Social Networking, early will achieve competitive advantage from both their internal operations but also the way they engage with their market. The internal business-engine benefits include:

  • Increased employee productivity
  • Efficeincies in knowledge management
  • Democratization of Business Intelligence for improved collaboration
  • Meet regulatory requirements in a timely fashion
  • Repurpose content efficiently
  • Connect people with information and expertise
  • Accelerate business processes and reduce complexity
  • Attrach the right skillset and culture

What this means however is that the traditional hierarchical management systems in organisations need to change, there needs to be an acceptance of transperancy and openness in the organisation that the best idea my come from the lowest paid employee. This challenge is a whole other discussion about human behavior however it does highlight that its not technology that is limiting better business but thinking and behaviors.

The external benefits of early adopters of social marketing type practices are already reaping the benefits as this graph illustrates.

Impact of Best in Class Social Media PracticesNo wonder I have been hearing so much lately. I guess the economic slowdown helps too. You see this form of marketing is not only the cheapest, when done well, its also the most effective. Engaging with your customer in a dialogue and listening to their ideas and suggestions has tremendous benefit for your own business and next gen product offerings, dont forget everyone wants to feel loved, especially customers.

So in a slow down like this, corporations will shave uneccessary and under performing expenditures and aim to review their plans for marketing and advertising. A recent survey from MYOB and ABS have indicated that SMB’s are increasing their efforts in marketing, but not the kind of marketing we are used to seeing, marketing that includes more and more social media tools which help impact the sales cycle effectively,as this graph illustrates:

Social Media impact on the Sales Funnel

The Groundswell is here to stay it seems and for those naysayers who thought social networking was not relevant for business or that it was just a flash in the pan, Im sorry but you were wrong. People power is here to stay now that they have a real Digital Voice.

This quick interview also supports my point that Enterprise 2.0 is here to stay:

Time Abusers

They are people who:

1. Do things that other people want them to do and this diminishes their uniqueness. This gets them out of their strength zone and their comfort zone. Karl Sanberg “Time is the most valuable coin in your life, You and you alone will determine how that coin will be spent, be careful that you do not let other people spend it for you”. Question “If I get offered this job, what do I have to do, that no one else can do, except me?” So do I have to do it or do I have to make sure that it gets done.

“The people with nothing to do usually want to spend their time with you”

“The question is not is your calendar full, it’s who will fill your calendar” If you do, you can lead, if they do at best you are reactive.

2.  Do things that are not important and this keeps them from being effective. Thorough “It is not enough to be busy, the question is, what are we busy about”. To ensure you are effectively busy do the following: Rate the activity in order of importance and urgency.

3. Do things that can be done better by others, this makes them average. Nothing is changed by mediocre performance. Jack Welsh “If you don’t have a competitive advantage, don’t compete”. Questions about your competition:

a. Is somebody else doing what I am doing?

b. Are they doing it well?

c. Are they doing it better than me?

d. If I become better or don’t, what is the result?

4. Do things without good coaching or training and this reduces their potential. Zig Ziglar “The only thing worse than training employees and losing them, is not training them and keeping them”.

Studies have shown that a 10% increase in spending on training staff leads to an 8.5% increase in productivity versus a 10% increase in capital expenditure which only leads to an increase in productivity of 3.5%. Jake Conger adds “It’s what the person has to do not what he or she is exposed to that generates crucial learning”

5. Do things without thinking, this causes wasted time and energy. James Allen “You are today where your thoughts have brought you, you will be tomorrow where your thoughts take you”. How to think better and more often:

a. Find a place to think your thoughts, a thought chair or room.

b. Find a place to shape your thoughts, a notebook

c. Find a place to stretch your thoughts, think tank

d. Find a place to fly your thoughts, expose them to others. Some thoughts need more time to get up, give them room to take off.

e. Find a place to land your thoughts

6. Do things with the wrong motives and this increases conflict with yourself and others. One of the most time consuming things to have is an enemy.

If you are preparing you are focusing on today, but if you are repairing you have focused on yesterday. If you are preparing it increases efficiency, whereas if you are repairing it consumes time. If you are preparing it increase confidence, whereas if your repairing it creates discouragement. If you are preparing it save money, but if your repairing it increases cost. If you are preparing it pays now for tomorrow, but if you are repairing it pays now for yesterday. If you are preparing it takes you to a higher level but if your repairing its becomes an obstacle for growth.

“People who abuse time will not run out of excuses but they will run out of time”

Basic facts about time management:

1. We all waste time

2. We cannot change time

3. We must accept time as the most important source for mankind

4. We cannot increase the quantity of time

5. We cannot do everything

6. We can only control time

7. Accept the facts that we are all procrastinators

Leonardo Davinci “A day well spent brings happy sleep”

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