Social Business Design (CC image by Dachis Group)
Annual look at the best strategies, tactics, case studies & insights in the enterprise space
Compared to 2009 and 2008, the past year was a relatively calm one because the amplitude of market gyrations clearly diminished and businesses began to find a new floor on which to build stakeholder expectations. Although I watched with high interest the unfolding financial drama in Europe, I didn’t have the time to conduct the research necessary to do a rigorous interpretation, although I published a brief reflection last week. The big story of the past year was this: 2010 marked a turning point in the adoption of social technologies and in the recognition that analysis and strategy are necessary to achieve consistent results with social initiatives.
Macro trends: Moving from broadcast to relationship building
Social has been in adolescence until recently — “being on Facebook” was an end in itself, agencies produced vapid content and little interaction happened because people rarely interact when brands are talking at them instead of listening. People feel it when a brand is interested in using social tools to promote itself. They also feel it when a brand is interested in building relationship, which is marked by active listening and responding, along with a relative absence of self-promotion. Brands that build relationship learn that they don’t have to try so hard to promote themselves: when they are truly interested in people, people will promote them. However, this approach remains a future state for most companies. Relationships take serious work — thus, a need for a strategy.
The growing use of strategy is also a harbinger for what I call “social business” (a step beyond social media), in which leaders use social technologies to transform their businesses by collaborating openly with various outside and inside stakeholders to innovate constantly. Early movers will begin emerging this year: Only a few gutsy players will aggressively adopt social business practices in 2011. I believe they can change markets.