Start-ups, mid-sized firms and enterprises have not yet fully embraced social business. Some firms are piloting social activation programs or attempting to integrate social strategy into the broader digital transformation, while others are simply waiting to discover what market leaders and fast followers do.
Five Common Social Business Challenges
An executive leader has not been appointed to own, facilitate and influence social business.
Firms do not have an overall social business strategy that includes measurement and flexibility.
Organizations are balancing competing priorities with social business and social business gets de-prioritized.
There is an absence of a business case or strong value proposition which has impeded social business progress or led to abandonment of the program.
Process re-engineering changes are challenging to make, particularly when the organization requires education and training to effect the social business transition.
Firms that have had their Social Moment – the moment when the organization recognizes that social business is mainstream and integral to their future success – will not just lead, but may interrupt their markets.
Social business is an imperative for organizations to deliver upon the promise of the brand and customer service. In addition to the needs of external customers, social business will also be the means through which internal employees, third party agencies and distribution partners interact with your organization.
Social business will be the new norm for communication and customer collaboration as the next generation of consumers comes of age. Tomorrow’s customer will make decisions by conducting their own research and asking trusted networks of friends, family and colleagues for advice.
The social business current is shifting quickly and organizations need to begin their social journey in earnest to remain relevant. Peril is not too strong a word to describe the fate of firms that do not take the first steps to activate their employee base and develop their social business strategy to charter the course forward with social business.