Social business is a new buzz word, but why should you consider adopting a social business strategy? Find out in Volume's infographic.

1. Social Business...
Why does it matter?
Social media is
transforming the
way organisations are
talking
to customers
88%
of CEOs think “getting closer to the customer”
is the most important factor in realising
their strategy in the next five years.
One
out of every
six minutes
spent online
is on a
social network
So communicating with customers across
social media is not an option
but a necessity
However,
to communicate effectively with
your customers, you must first communicate effectively
with your stakeholders
YOU NEED TO BE A SOCIAL BUSINESS
A Social Business is an enterprise that has
incorporated social-engagement processes and technology
across all areas of a business to maximise value and profitability
BY
2014
the market for social-enterprise tools,
software and services is predicted to reach
US$4.6 billion
worldwide
RIGHT NOW
Companies waste Two out of three
5.3 hours per employee people can’t find
per week the help they know
because of inefficient is out there
processes
98%
of CEOs say they need to restructure
the way their organisations work
THE WORKFORCE IS SOCIAL
Increase in social usage over the past
70% two years at work 52%
MILLENNIALS
EXECUTIVES
Use at least one
82% social network 58%
for work
45% Are often logged into social network 50%
at work
So why not
socialise
with them?
Research by Gallup and others shows that engaged employees are more productive, profitable and less likely to leave.
Engaged workforces have an earnings per share 3.9x higher than other organisations in the same industry.
74% 69% 58% 47%
of social-technology adopters in 2011
Increased
speed to Increased
Increased Reduced
access customer
effectiveness internal
knowledge satisfaction
of communication
internally marketing costs
A study of 900
53% US-based execs revealed 57%
believe that they have expect an increase in
to adopt Social Business revenue or sales after
or will fall behind implementing Social Business
Real-time
response and
engagement
=
More satisfied
customers
Dynamic
Higher communication
engagement =
= Improved
Increased revenue performance
BUSINESS
VALUE
Over 50% of organisations
now consider Social Business
applications to be imperative
or significant to their
business goals
Socially
Transparent
mobilised workforce
knowledge flows
=
=
Increase in
Empowered
collaboration and
workforce
productivity
Relevant human
brand engagement
=
Increase in
advocates
eSocialMedia, 2011 Jive, 2011 McKinsey, 2011 Siemens, 2007
Harris Interactive and Tacit Knowledge Systems, 2003 IBM CEO study, 2008
comScore, 2011 Useful Social Media, 2011 Altimeter Group, 2011
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