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Social Business Services

Beyond buzz


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Remember when pundits declared the Internet would forever change the way you worked? When e-business was a “thing” you needed to learn about? Somewhere along the way, the trend of buying, selling, training, marketing and servicing online ceased to be a trend, and became the operating standard, pervasive throughout an organization. The efficiencies, scale, speed and other benefits of the Internet radically shifted entire industries.

We’re now at another tipping point, where social technologies, platforms, strategies and programs have the ability to drive business decisions, actions and outcomes across an enterprise’s entire ecosystem. Social business is a concept that goes beyond the buzz of social media networks; it’s a practice that can enable more efficient, effective and net-new connections inside and outside your organization to drive performance.

Managing strategy through to implementation in Social Business is tricky. Deloitte takes a business-led, technology-enabled approach to help clients jump-start their social strategies with broad solutions. We work closely with leading social software vendors, giving us an insider’s view of the evolving landscape. And we deliver integrated solutions that tap the full range of Deloitte’s consulting strategy, technology, human capital and risk management capabilities. Learn more about the offering.

Featured insights

Tech Trends 2014: Social activation
The power of social activation is unleashed when others advocate an organization’s message in their own words to their network.

Tech Trends 2014: Industrialized crowdsourcing
Today, technology makes crowdsourcing possible on an industrial scale, with potentially disruptive impacts on both cost and innovation.

Making social business work in organizations
How can companies leverage the social business phenomenon? Watch the video to glean insights from the 2013 Social Business Global Executive Study and Research Project.

Power play: The social spark
In this Power Play, Deloitte provides a Digital Enterprise perspective on “Reengineering business intelligence” from Deloitte’s Business Trends 2013.

Social business report: Shifting out of first gear
Explore the findings of the second annual global study, conducted in collaboration with MIT Sloan Management Review, to gain fresh insight into the social business landscape today and discover how some businesses are reaping value.

 

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Some organizations have essentially ignored social media because they don’t see a path to value. Others have only scratched the surface, establishing a Facebook page or Twitter account in the hopes that these steps alone will gain more customers or build brand equity. But an effective Social Business effort should be rooted in a strategy that effectively addresses the changing landscape of increased transparency, user-generated content and continual information sharing in a holistic way. The organizations that discover value are doing so with a layered approach that crosses organizational boundaries, functions and services.

The business imperative

Your customers are using social networks to review and discuss your products, your multi-generational workforce is demanding new tools to more effectively connect with clients and colleagues, and nimble new competitors are using social technologies to drive product innovation at a blistering rate. If your company is complacent in participating in the Social Business landscape, will you be able to react quickly enough to market threats and opportunities?

Innovation, collaboration and engagement are the currencies of the new world order, and social computing tools are upending traditional business models and cycles. Are your social marketing efforts aligned to your business strategy? Are you listening to your communities of interest (employees, customers and suppliers) and adjusting course? Have you studied to see if these new tools and approaches could reduce costs and improve organizational productivity?

If you’ve answered “no” to any of these questions, you may be not only missing out on growth opportunities, but you may also be increasing organizational risk.

How we can help

Managing strategy through to implementation in Social Business is tricky. Deloitte takes a business-led, technology-enabled approach to help clients jump-start their social strategies with broad solutions. We work closely with leading social software vendors, giving us an insider’s view of the evolving landscape. And we deliver integrated solutions that tap the full range of Deloitte’s consulting strategy, technology, human capital and risk management capabilities. Our suite of Social Business services includes:

  • Holistic Social Business Strategy. Developing a results-centric and business-led approach that takes into account the entire organization.
  • Enterprise Collaboration & Development. Provide systems and software to help improve teamwork, innovation and information sharing.
  • Social Media & Commerce. Develop a more integrated and strategic approach to marketing, public relations, customer relationship management, analytics and operations to help improve the bottom line.
  • Social Monitoring & Analytics. Track and listen to online conversations about brands, products and services to improve engagement, decision-making and future market strategy development.
  • Social Business Governance & Risk Management. Identify and develop business processes to help mitigate threats and risks across an organization that traditional policies and security may not address in the constantly evolving world of social media.

Bottom-line benefits

  • Gain a deeper understanding of your customers while more effectively allocating your marketing spend into channels and social environments used by your customers
  • Boost innovation through the use of social software that more fully engages your employees’ talent, knowledge and experiences
  • Improve customer interactions and engagement to raise brand awareness and loyalty
  • Achieve potential cost savings by being able to use social technology to improve existing processes throughout your organization, including customer service, recruitment, R&D and more
  • Collect new types of marketplace intelligence to help improve products and services, increase message efficacy, and drive strategy
  • Improved governance can lead to reduced regulatory, brand and other risk factors

Five ways to get more value now

Effective social business strategies are tied to a company’s core business goals. Here are some principles to follow with that goal in mind:

Integrate with the bottom line. In some quarters, social media has been viewed as a “soft” business tool with little direct impact on the bottom line. Deploying a broader Social Business approach, however, could have the potential to dramatically affect the bottom line.

Engage leadership. Leaders can significantly influence how organizations adopt and adapt social computing tools to improve performance. Get commitments from leaders to contribute and serve as role models whether they are blogging, tweeting or using other tools.

Build a culture of connections. Here’s the thing about social media: Most employees are already plugged in. They’re just doing it on their own time. Don’t firewall all personal and business social media activities. Encourage overlap where it makes sense, and build on the strengths your employees are already developing on their own time.

Be more risk intelligent. While Social Business opens the door to many new opportunities, you should keep in mind how these new tools and technologies may affect your regulatory, legal, privacy, reputation and data risks. Understanding these new challenges can allow you to make better-informed decisions about risk mitigation.

Don’t just react. Engage. The marketplace now expects companies to respond to customers’ inquiries and concerns via social media. That’s table stakes. When your organization is actively engaging with customers as a matter of course, you open the door to brand and business benefits that can go well beyond simply putting out fires.

Social Business in action

  • A telecommunications organization wanted to know how its marketing campaigns and new products were perceived on blogs, online forums and through other social channels. We helped the organization to build a strategy that included a social media monitoring component. It’s helping the company develop future tactics so they can use social networks more effectively and efficiently for sales, marketing and product development efforts.
  • When a major North American bank wanted to assess potential social business strategies, we helped the bank to develop a strategic governance framework. This tool is designed to help the bank make smarter use of social channels to deliver products and services more effectively, while protecting critical personal customer information and brand reputation.
  • An energy company needed ways to connect executives and specialists around the world. With our help in building a new social media strategy, the company facilitates these connections more efficiently, making it easy for its professionals to share knowledge and build valuable professional relationships. The strategy will also help raise the quality and skills of the company’s future work force – one interested in using social technologies to improve business processes.
  • Eager to find new ways to meet its mission in the face of constrained budget, a federal agency engaged Deloitte to help in their efforts to develop an enterprise-level social media strategy, including a pilot project in which employees used mobile devices to work remotely. The agency is using social networks and technologies in innovative new ways to deliver improved service in a challenging environment.

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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