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Is your company following a Social Business strategy?

14 September, 2016

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Date of Publication: 28-11-2016
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Date of Publication: 14 September, 2016
Many are using the words Social Business, but only a few of them know their real meaning. This term is entering more and more into corporate jargon but there are many definitions buzzing around, often very different from each other. Here you can find the three pillars of every Social Business model.

The people at the center

Customers, suppliers, employees, partners and stakeholders. In Social Business, individuals that gravitate around the company are systematically involved in the company’s strategies and decisions. How? Through collaborative platforms involving all the business processes, both internally and externally. The company's evolution is no longer strictly dictated by the management nor just by listening to the needs of the customer (as in Social CRM), but by an integrated team of actors and co-stars.

 

From advertising to involvement

If the company was once interacting with the audience mainly through advertising, in Social Business, communication is based more on sharing through the use of the Internet and social networks. Industry blogs, communities, review sites and dedicated forums are important tools to spread information by word of mouth and to create positive feelings towards both products and services.

 

Towards a new concept of value

In the Social Business model, the ultimate goal of the company is not simply to generate profit for itself and its partners, but an exchange of value between the company and the entire ecosystem. We are not talking about non-profit organizations or charities, but about money, margins and earnings that Social Business is able to increase through a new, more careful approach to the new market dynamics and a closer relationship with customers.

 

Today it is difficult for a company to respect these three pillars. Social Business is a long process that requires a big change in mentality from the company: to pass from the "island" model to an open and highly connected organization, able to listen, respond, learn and evolve daily. It may be a difficult path to follow but a crucial one if the company is to face the challenges the future will bring.

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