Archive for May, 2011
by Bill Ives
May 30, 2011 at 3:33 am · Filed under
Adoption, Enterprise 2.0, ROI, Social Media
IDC has provided a study on a useful topic, Determining the Value of Social Business ROI: Myths, Facts, and Potentially High Returns developed by Erin Traudt, Mary Wardley, Michael Fauscette, Dr. Natalie Petouhoff, Kathy Herrmann. It explores the criteria for validating enterprise social software purchases and social business transformation through return-on-investment (ROI) measurement. They also looked at the market potential. IDC’s Social Business Survey reports that enterprise social software adoption still has room to grow, with 41% of respondents indicating that they have already implemented an enterprise social software solution. This leaves 59% who have not implemented a solution. With this much adoption anticipated, IDC forecasts that emerging social platforms market will generate revenues of nearly $2 billion by 2014, experiencing a compound annual growth rate of 38.2% over the 2009-2014 forecast period.
However, IDC cautions that work needs to be done to reach these numbers. Erin Traudt, research director, Enterprise Collaboration and Social Solutions at IDC is quoted, “widespread industry adoption of enterprise social software is relatively immature and executives want a clearer understanding of the potential gains, costs, and return on investment that social business initiatives can have on a company’s bottom line.”
The reports goes on to state that when conducting ROI on social business initiatives, the traditional rules of business still apply. This is regardless if a company deploys social business initiatives to assist customer service, marketing, public relations, product innovation, employee collaboration, or other functional areas of the organization. The report comments, “It is rare that organizations know how to calculate ROI for traditional company projects; the addition of social business initiatives adds another twist, making it seem difficult to calculate social business ROI, but in reality it is possible.”
I agree that it is possible. However, to be effective it should demonstrate how social software improves performance on key business metrics that are often process aligned. One of the obstacles to getting a clear ROI is that much of the well-publicized social media use cases have been in the area of marketing, an area where ROI is more elusive. McKinsey showed us that ROI can come from both external marketing use cases and internal ones that are more aligned with work processes. They found improvements through the use of social software in such metrics as reduction of communication costs, increased speed of access to internal experts, decreased travel costs, and increased employee satisfaction. This is a nice mix of hard edge and softer returns but each gets to the bottom line.
McKinsey also found that usage is strong as nearly half of the companies that have implemented social technologies have at least 51 percent of their employees using them. Like IDC, McKinsey saw firms increasing their investment in social software. In 2010, nearly two-thirds of respondents at companies using social technologies say they will increase future investments in these technologies, compared with just over half in 2009. These two reports complement each other.
by Rob Paterson
May 26, 2011 at 7:20 am · Filed under
Infographics
I have been involved in many acquisitions back in the day when I was an Investment Banker. Experience taught me that what helps to make them work is seeing where the value really is and where the problems are that have to be solved. “Seeing” these issues is hard. So it is helpful to have a team design an infographic to put the business issues into context. It is timely to see this new one on Skype. (PS the other issues are to do the same with Culture)
So have a look at this and ask what are the business issues re Skype that pop out for you?
Via: OnlineMBA.com
by Rob Paterson
May 25, 2011 at 1:43 pm · Filed under
Infographics
One of the most impenetrable bills is the farm bill. How can anyone know what it is all about? – this is typical of much legislation – the result – we accept bad things because we cannot know. Even if you did read the whole thing, I bet you and I still would be in the dark.
But a smart group now are doing the hard work and are then distilling key issues into Infographics.
Here is the one on Corn - that receives the largest subsidy of all. And is as you will see – so destructive.
What this tells me is that with some work – we can look into the most complex situations and find meaning. It takes quite a mind to pull this off though. Not your average graphic artist! (Sasha Breger Bush)
by Bill Ives
May 24, 2011 at 3:45 am · Filed under
Social Media, Web 2.0
Recently, I read two blog post commentaries on Nick Carr’s The Shallows: What the Internet Is Doing to Our Brains. One by Andy McAfee, Tune Out, Turn Off: A Mantra Needed for Our Times?, and another by Doris Nhan, Live from #gc2011: Nicholas Carr on how the Internet is hurting innovation. Carr’s book provides his research on how technology and the Internet have affected people’s ability to process information in a negative way. He argues that we are losing our ability to concentrate because of the Web. And I thought it was my advancing years. But I digress. Before I add my comments let me summarize what Andy and Doris wrote.
Andy said that he was first a skeptic but as he read Carr’s book and “reflected about my own habits, though, I started to get the uneasy feeling that he was on to something fundamental.” He adds that the 2.0 Era has put us put us immediately in touch with friends, family, colleagues, and strangers through easy to use software on the Web and increasingly available and portable hardware devices for access. Andy notes that this can be addictive and I would agree. Andy supports Nick’s claims that this also takes us away from deep thinking. His remedy is tune out and turn off but not before you provide your comments to his blog post. I did both in the order he suggested.
I have long been convinced of the need to gain a sense of isolation to concentrate, at least for me. I have always liked to work at home, starting as an academic in the 70s. I went to the office to meet with colleagues and students but my thought work was done at home away from those distractions. Now I have come full circle as I mostly work at home but maintain a very active business social life outside the home. For me it is having control over when I want to concentrate and when I want to be social. For this reason I schedule phone calls rather than have people call me whenever. The Web also allows for this option because it is available for virtual socializing when I want it but I can also turn away.
Doris Nhan goes a step further in her discussions about Nick Carr’s book by offering some specific suggestions from Nick for work that align with my own thoughts above. She writes that “to regain a much-needed balance, Carr suggests dedicating time specifically for the Internet and time specifically for focused attention on one task.” I would certainly agree. This is what I do. I often turn to the social aspects of the Web as a break from focused work just as people might go to the water cooler or the coffee room in an office environment.
Nick also suggests that, “companies need to challenge the assumption that employees should always be available. Some people do their best work when they’re disconnected, and companies should create a work culture that encourages it.” Ahem. I have long believed in this. For example, I never liked IM. When required to use it by one employer, I just had my status always set at busy. When I finally got a cell phone in the late 90s, it took me a year to discover that the incoming call function was broken as I only used it for outbound calls. I still give out my office number rather than my cell number, except for specific situations like meeting someone. I know I may be extreme but it is my way for maintaining control over my social presence and my knowledge consumption so that I can accomplish the thought work I need to do like write this blog post.
There does need to be a balance. I do expect someone to always be available when I need help with my computer but then I would not assign these call center people with the additional task of developing the company’s strategic plan while on call center duty. The bottom line is creating a pull rather than push situation and the Web does allow us to use it this away if we choose to operate in this mode. Now it is easier for me as I am working part time on many assignments and mostly working from home. I think that companies need to give their employees that same freedom if they want innovation and real productivity in thought work. Granted someone needs to mind the store but someone also needs to be determining where to take the store next. This is why you have a team.
by Rob Paterson
May 22, 2011 at 1:22 pm · Filed under
Infographics
I don’t know about you but I don’t pick up information very well on the web anymore. I have got so used to scanning that I don’t read carefully.
I don’t think I am alone either. I think that this is why one of the new skills is the “Haiku Post” – a very short and to the point post that nails a point. But what if what you want to say is not just one point – but complex? How do you communicate this now?
I am becoming convinced that the answer is to use Infographics. Here is one about the risks of Sitting all day that went viral 2 weeks ago. In a few days thousands of geeks were talking about the risks of sitting all day. Imagine instead that I or someone had written a 5,000 word article instead? I suspect that the result would have been zero.
Why do they work?
Take a look at this Map of Africa and then come back.
I think that there 2 strong reasons for why they work.
- We are naturally Pattern Seekers – It is how we recognize faces – It is how we respond to events – It is how we process information. Patterns are how we learn and “see” things. If we don’t have a pattern, we have no context.
- We love surprise and this is the core of the aha. So if I tell you something – this is dull. But if you discover it – as you do discover all sorts of things in the Africa Map – the aha is your and it is this aha that stays with you.
With work and jobs so scarce some people have now redefined the CV in Infographic form.
Again hiring managers have had their senses dulled by reading thousands of resumes. Yours can be the most brilliant career and life – but the chances are they cannot “see” it.
A brilliant infographic of your work also shows that you can synthesize the issues and would made a good player in a complex world.
This is a field I am going to dig deep into – for most of my work work involves complex issues like health that need this kind of treatment. But hey isn’t your world complex too?
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