Social Business
Social Business is a new emerging business model that relies more on collaboration and co-creation and less on segmentation and hierarchy. It is an organization reaction to the transformations we are observing in business: customers that are more empowered by peer-interaction demand real-time response from companies and employees demand more transparency and participation in company decisions.
The classical business models have been the most efficient because they relied on analysis and segmentation, reducing dependencies and the need for collaboration, focusing on functional and personal accountability to solve complex problems. Emerging changes will favor models that are more social. Companies need to adapt or risk losing to new market entrants.
There are several terms used to describe this trend: Enterprise 2.0, Collaborative Enterprise, Social Business, etc.
The digital generation grew up with the Internet, entered the workforce, and became important consumers. In the next years, they will take leadership in your own company and decision-making positions in your customer's organizations.
The adoption of Social Technologies is changing the way we do business. By reducing the friction (and cost) of collaboration, it will make collaborative organizations more efficient and decrease the competitive advantage of highly segmented ones. It favors new business models that leverage the synergy in people's interactions (both within and outside the organization).
How should your company face the changes resulting from the adoption of social technologies in business?
Focus on the inside first. An organization cannot be social in its interaction with customers and the market if it is not open on the inside. Break the knowledge silos, promote transparency, empower employees. Turn your company into an open, collaborative organization.
Fundamentals of marketing and sales don't go away because of a new media. The transition from traditional media (print, e-mail, broadcast, etc) to social media will happen over the next several years. What you read about Social Media is true (and you will need a Facebook Page), but we need to be in it for the long run.
Our solution offers a Social Sales and Social Marketing platform that leverages Social Media to help your business. Learn more about how our system can help companies to implement a Social Sales Solution. Our system is designed to support your business today and help you to move towards a Social Business future.
Also in the Social Business Series:
