Social Media Is Morphing Into Social Business

These days, if you're doing business, you've got to go social. As 'social media' morphs into 'social business,' the conversation is broadening within the enterprise. In addition to Marketing and Communications, we're now seeing Legal, HR, Customer Services, Sales, and other departments adopt social technologies both internally and externally. The adoption curve is maturing.

The world's leading companies are realizing that a solid grasp of social technologies and social platforms, along with the concepts of authenticity, transparency, and trust will become critical to building global brands, transforming product development, enabling real-time customer service, and fostering social collaboration with customers and key stakeholders.

From the beginning, way back in 2007, the term 'social media' rubbed some the wrong way. Just what is social media, anyway? Doesn't it mean Facebook, blogs, Twitter? Or is it more about the new communication platforms? Or about real-time? Or maybe it's just another term for 'digital media'?

When I was developing the curriculum for the Social Media Marketing class I teach with Karl Kasca for the UCLA Extension, we grappled with this as well. Back in 2007, we spent a lot of time in the first session defining 'social media,' and quite a lively discussion ensued. And today the market is still defining it.

One thing is certain. The 'shareability' factor and the 'like'/'follow'/'friend' factor has been a key ingredient. Fast forward to July 2011 and traditional management consulting companies like McKinsey and IBM Services are side-by-side social consulting companies (including Gravity Summit) to guide companies through 'Social' as a Business Process Re-Engineering change project.

If you're in top management, don't wait. Work with a solid strategic consulting team who can help you develop a road map of entry points to foster social business, both internally and externally. The opportunity to deepen relationships with clients and partners by removing communication barriers is truly transformational.

My advice is fail fast, fail forward, but do something. The rewards are waiting for those who blaze the trail.

Join Beverly and her team as top brands and rising companies discuss social business transformation at Gravity Summit FutureM Boston, to be held at the Harvard Faculty Club on September 12, 2011.

Beverly Macy is the CEO of Gravity Summit LLC, and the Co-Author of The Power of Real-Time Social Media Marketing. Email her at [e-mail]

 

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Comments

[walteradamson]

03:02 AM on 08/12/2011

The trend is real, but very uneven. I'm not sure that the definition of social media is anything too cerebral. It's the media where anyone (or at least any member) can publish as opposed to the old of privately owned and controlled media. The ability to publish and be heard became socialized. Nothing to do with the content. These days the concept of owned, paid and earned media has taken hold and that's a useful part of thinking about how companies engage.

If you want to get into a debate about terminology then then term "social business" itself usually brings on a lot more heat because it's a term already used by businesses serving social needs usually non-profit. I understand where they are coming from but I think the outcome is already history. Get over it.

Walter @adamson

[LauriePR]

06:05 PM on 07/18/2011

Great piece Beverly. I could not have said it better myself! Thanks again for the fantastic piece!

[teri thompson]

12:19 AM on 07/18/2011

Beverly is right on target on the evolution of "social media" into "social business". The highest levels of global corporations are listening, however, most still do not have a solid strategy or are waiting on the sidelines. I just returned from a "Doing Business in Europe" month-long program with expert speakers from multiple business and marketing professions as well as time with the CEO's of Philips and Beck's Beer. Though some of our friends across the pond are using social wisely, others are not. "Social business" is a must in a global economy. They know it and we know it. It's almost like playing the game of musical chairs. If you don't move quickly, you'll be left without a chair.

[Beverly Macy]

12:31 PM on 07/18/2011

Thanks, Teri. We discuss this development in our book as well - specifically in the case stories. And your experience this summer with European businesses sheds insight as well. Onward and upward!

[ignacio sanabria]

09:17 PM on 07/17/2011

An idea for writers: Share some snippets of your writings with your social media followers.

[BizBragEngineer]

11:24 PM on 07/17/2011

BizBrag is a fantastic way to share with your followers on all platforms and reach new followers.