Show me the money! The value in social business at Engage 2014

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Information about Show me the money! The value in social business at Engage 2014
Business & Mgmt

Published on March 18, 2014

Author: sasjabeerendonk1

Source: slideshare.net

Description

Presentation done at Engage (IBM user group in the Benelux).
Social business creates value because it offers employees the opportunity to work together, communicate and share knowledge. But how do you measure this? Where's the value of social business? How can you go from business objectives to measurable elements to get a meaningful and well-founded ROI? To build ROI, several models and instruments can be used: employee engagement measurement, social collaboration reach and impact on organizational success, return on contribution, charting efficiency gains from moving to social collaboration, and transforming business objectives to measurable use case elements.

@sbeerendonk Show Me the Money! The Value in Social Business Sasja Beerendonk, e-office @sbeerendonk 18-3-2014 @EngageUG #engageug

@sbeerendonk About me sasja.beerendonk@e-office.com twitter.com/sbeerendonk http://nl.linkedin.com/in/sbeerendonk http://thoughtsoncollaboration.com 18-3-2014 @EngageUG #engageug

@sbeerendonk Agenda • ROI, why? and some social business ROI myths • From social software to a social business • Measure: usage versus effect • Value of engagement • Value of productivity • Value metrics through use cases • Quality 18-3-2014 @EngageUG #engageug

@sbeerendonk ROI, why? 18-3-2014 @EngageUG #engageug

@sbeerendonk What is the ROI of a phone? • Should we measure the amount of calls? • How does the phone help an employee do their work? • Does use of other systems, such as email, decrease? 18-3-2014 @EngageUG #engageug Source: Return On Contribution (ROC): A Metric for Enterprise Social Software, Muller

@sbeerendonk Social business ROI myths a metric = ROI social business ROI is not measurable measuring ‘likes’ and ‘followers’ = ROI 18-3-2014 @EngageUG #engageug

@sbeerendonk From social software to a social business 18-3-2014 @EngageUG #engageug

@sbeerendonk Social business creates value 18-3-2014 @EngageUG #engageug find expertise

@sbeerendonk Maslow’s hierarchy for enterprise 2.0 18-3-2014 @EngageUG #engageug Maslow’s Hierarchy of Enterprise 2.0 ROI, Hutch Carpenter, 2010

@sbeerendonk Measurement principles • Define success • Measure to inform and enhance • Don’t fall for ‘easy measures’ • Better measures • use cross-referencing and combining of metrics • Measure regularly • Increase organizational effectiveness, across borders, reducing duplication of effort • # communities with active participation from employees from different offices • # blog posts with comments from employees in other offices • % projects (activities) with employees from different offices 18-3-2014 @EngageUG #engageug Source: Michael Sampson – User Adoption Strategies 2nd ed.

@sbeerendonk Measure: usage versus effect 18-3-2014 @EngageUG #engageug

@sbeerendonk18-3-2014 @EngageUG #engageug Distinguish between the reach of social collaboration, and the resulting use of tools and the effect on individual work effectivity and organisation goals.

@sbeerendonk Two ways to focus 18-3-2014 @EngageUG #engageug Business process Collaboration process

@sbeerendonk Value of engagement 18-3-2014 @EngageUG #engageug

@sbeerendonk Employee engagement 18-3-2014 @EngageUG #engageug be show I share my knowledge and expertise I react and reply I am well informed

@sbeerendonk 1-9-90 rule on participation 18-3-2014 @EngageUG #engageug http://en.wikipedia.org/wiki/1%25 _rule_%28Internet_culture%29

@sbeerendonk Engagement tool • define ‘lurkers’ further: • Creator • Contributor • Joiner • Spectator • Inactives 18-3-2014 @EngageUG #engageug lurkers Download the flyer of the e-office engage-o-meter

@sbeerendonk How to make sociale software a success? On average 15% of employees is Creator and 20% is Contributor … in order to create value these employees need to become more productive! 18-3-2014 @EngageUG #engageug engagement pyramid

@sbeerendonk Return on Contribution 18-3-2014 @EngageUG #engageug Source: Return On Contribution (ROC): A Metric for Enterprise Social Software, Muller

@sbeerendonk An example of ROC 18-3-2014 @EngageUG #engageug Source: presentation Chris Sparshott - Evaluating the Success of an IBM Collaboration and Social Networking project

@sbeerendonk What does the number 2.59 mean? 18-3-2014 @EngageUG #engageug Source: presentation Chris Sparshott - Evaluating the Success of an IBM Collaboration and Social Networking project Bookmark originator bookmarks a resource 2.59 consumers benefir from the work of each bookmark originator

@sbeerendonk Value of productivity 18-3-2014 @EngageUG #engageug

@sbeerendonk Sequential collaboration versus co-creation Let’s make music! 23 18-3-2014 @EngageUG #engageug

@sbeerendonk Sequential collaboration versus co-creation 18-3-2014 @EngageUG #engageug Let’s make music!

@sbeerendonk18-3-2014 @EngageUG #engageug Drums Lead guitarRythm guitar Bass

@sbeerendonk Merge together 18-3-2014 @EngageUG #engageug

@sbeerendonk True co-creation 29 18-3-2014 @EngageUG #engageug

@sbeerendonk To be succesful, employees need to … 18-3-2014 @EngageUG #engageug

@sbeerendonk • Collaboration: Email versus Files 18-3-2014 @EngageUG #engageug

@sbeerendonk • Collaboration: Email versus Wiki 18-3-2014 @EngageUG #engageug

@sbeerendonk Productivity wins 18-3-2014 @EngageUG #engageug

@sbeerendonk Value metrics through use cases 18-3-2014 @EngageUG #engageug

@sbeerendonk Organization goals • Work more effectively across countries and timezones • Bring together expertise from different offices/countries • Decrease travel time • Bring innovations to market faster • Deliver projects on time • Solve problems faster • Secure expertise from employees who leave • Faster onboarding • Build communities of practice to share and enhance knowledge in key areas • Hold on to good staff longer 18-3-2014 @EngageUG #engageug

@sbeerendonk How then? • Focus on organisation goals • ‘Translate’ goals to use cases • Work from activity-metrics to value-metrics 18-3-2014 @EngageUG #engageug

@sbeerendonk Finding expertise • Quickly locate the right people, or published content containing, the expertise needed to solve a problem • Connect the best possible resources to effectively respond to customer needs • Document and share reusable solutions to common issues • Create highly-engaged and productive employees. • Benefits • 30% improvement in speed of accessing experts • 55% increase in visibility of company’s subject matter experts on its public website IBM Whitepaper (2013) Patterns in achieving social business success by leading and pioneering organizations USE CASE 18-3-2014 @EngageUG #engageug

@sbeerendonk Gaining external customer insights • Quickly learn customers’ opinions and preferences related to existing and potential products and services • Identify and connect with key customer influencers to aid marketing efforts Benefits • Nearly 50% reduction in customer/agent service costs • >50% decrease in time required to develop new services and features • 20% reduction in man hours needed to create new product release information USE CASE IBM Whitepaper (2013) Patterns in achieving social business success by leading and pioneering organizations18-3-2014 @EngageUG #engageug

@sbeerendonk Share knowledge • More efficiently and effectively capture, share and access knowledge • Increase innovation through wider reach of ideas • Reduce excessive, unproductive time spent searching and exchanging information Benefits • 30% improvement in speed of accessing experts • Productivity increases of 20-25% attributable to reduced need for status meetings • Accelerated problem resolution due to more effective use of communication tools • Improved employee engagement and satisfaction USE CASE IBM Whitepaper (2013) Patterns in achieving social business success by leading and pioneering organizations18-3-2014 @EngageUG #engageug

@sbeerendonk Recruiting and onboarding employees • Collaboratively find and connect the right candidate to the right position • Streamline assessment and hiring processes • Better connect, engage and retain new hires • Contextually recommend expertise to increase new hires’ productivity Benefits • 30% more candidate searches completed annually • 25% reduction in time needed to fill open positions • 2 day reduction in time to on-boarding new employees, 30% faster new hire time- to-value • At least 20% increase in employee retention USE CASE IBM Whitepaper (2013) Patterns in achieving social business success by leading and pioneering organizations18-3-2014 @EngageUG #engageug

@sbeerendonk Use case example 18-3-2014 @EngageUG #engageug support department needs to collaborate more effective across borders and time Employees are able to locate colleagues with needed skills irrespective of their location Subject matter coordinators blog regularly to share latest updates in their area “How to” wikis are regularly updated by team members and are heavily used to find information Activities are set up to enable small teams to work together across time zones to resolve problems % profiles with skills updated# searches on profiles# reads of profiles # blog entries added # blog authors # comments to blog entries # reads of blog entries # wiki edits made # wiki authors, from different offices # comments to wiki entries # reads of wikis # new activities started, with people from different offices # activity owners # activity members # reads of activities Average time to close a customer request is reduced by x% Customer satisfaction survey shows an improvement of y% Staff satisfaction survey shows improvement in job satisfaction score of customer support staff Staff turnover among customer support staff shows a reduction of z% Average handling cost per customer request is reduced by x $USD Annual customer support recruitment costs are reduced by x $USD Metrics of creation, consumption, membership etc IBM Software Services for Lotus - White Paper, June 2010 Measuring the value of social software

@sbeerendonk Wait … what about quality? 18-3-2014 @EngageUG #engageug

@sbeerendonk Quality of collaboration 18-3-2014 @EngageUG #engageug Does the result get better? Do people feel more engaged? Does the work produce more revenue?

@sbeerendonk18-3-2014 @EngageUG #engageug

@sbeerendonk And now … • Questions? • Contact me • More information ? • experience the business of social software • Read whitepaper • ‘Social Business’ (NL) • Watch more webcasts and live webinarssasja.beerendonk@e-office.com twitter.com/sbeerendonk http://nl.linkedin.com/in/sbeerendonk http://thoughtsoncollaboration.com 18-3-2014 @EngageUG #engageug

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