Social Business (Part One) – Ten Years On

Screen Shot 2015-08-12 at 12.40.42 PMSocial Media has been with us for ten years now and we are still wondering if business is using it as yet. Certainly some business have embraced it to the full, whilst others still think it is the danger of all dangers! In this series on Social Business, I intend to shed some light on what we have learnt, how we currently understand Social Business and I will also look at a more futuristic view of where Social Business is going.

The Altimeter Group has just released a document titled 2015 State Of Social Business and it can be downloaded at http://www.altimetergroup.com/2015/08/infographic-the-top-4-barriers-faced-by-social-strategists/

These were the Key Findings: 

• 82% of businesses report they are either fully integrated, in the process of, or planning the integration of social with digital in 2015. But only 36% believe they have in place a multi-year digital strategy that includes social initiatives.

• Across all organisations, only 27% reported that executives at the VP/Director level were active on social, with a measly 9% reporting participation from the C-Suite.

• Interest in employee advocacy has grown 191% since 2013, with 45% of respondents naming it a top external objective.

• 38% of responding organisations plan to spend more than 20% of their total advertising budgets on social media channels in 2015, up from 13% a year ago.

• 55% of respondents named developing an integrated digital content strategy as a top social business priority for 2015.

As you will realise this is a report out of America, but the challenges are much the same wherever you go. In our global economy it is important that we don’t think we can play catch up, we should rather innovate and try lead the way as much as we possibly can.

In the next few articles I will be unpacking the following topics:

What is a Social Business?

The Integration of Social with Digital

A Multi Year Digital Strategy (Including Social Initiatives)

Executive, C-Suite and Board Participation

Employee Advocacy and External Engagement

Advertising on Social Media 

Planning for a Social Business

As more topics are identified they will be added and I welcome any feedback (positive or negative) – lets make this a working document as opposed to just my opinion.

Photo credit: Rosaura Ochoa / Foter / CC BY

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About RichSimmondsZA

Father | Professional Speaker | Top 50 International & Forbes Top 10 African Social Influencer | RuleBreaker and ChangeMaker | Author 5 Night Plan & MugAndTweet Books
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