Everyday Influence

New Perspectives and Research on The Social Mind

Numerous research studies have shown that people don’t want to be marketed to in social media.

However, in business, many brands seek to build robust fan bases in both large and specialized on-line communities to support marketing, sales, advocacy and influence efforts. 

Some companies use gimmicks and creative offers to attract "fans" - which is more about marketing tactics than a desire to build relationships or loyalty.  Other companies use compelling information to add value to people based on issues, concerns or topics that they care about. 

The latter is something that I relate to.  

The value of communities like facebook (for me personally) is the ability to build and maintain relationships and stay informed about "what's happening" in the lives of friends, family, colleagues and even companies or causes that are important to me. It’s through these relationships that I learn, engage and share information about issues, news and events.  It’s an important and influential channel for me.

Build it and they will come.

There's a very profound and fascinating notion that information (if important or relevant) will find you through your network.

I was exposed to this idea when my boss shared a conversation that he recently had with his teenage son where he suggested (to his son) that he should read more newspapers.  The response that my boss received was "if information or news is important, it will find me."  My bosses initial reaction was "well, that's arrogant" but then realized that it makes a lot of sense...and it does.  His son has been brought up in an era where people are so connected (through devices and social media) that information and news is circulated, filtered and curated in a way that if relevant it will indeed "find" you. 

This speaks to an important dimension of social media and trust that extends from our relationships. It's something that most people often forget in a business context when looking to adapt to managing communication and business in a new world.  People are inherently influenced by others in their network and to information/things that they can relate to.

The Social Mind Research Study.

Without a doubt, interrelationships between individuals, organizations, thought leaders and influencers are evolving in new and previously unforeseen ways. This shift represents a major communications innovation in all markets, and is radically changing the way people and organizations engage and behave on-line.

In order to explore this topic Vanessa DiMauro, Peter Auditore and I are conducting a new study called The Social Mind as part of our fellowship with The Society of New Communications Research (SNCR) .   

The Social Mind research project is designed to explore and understand these interrelationships and how they impact the consumption of information across social media channels and influence flow. Our hope is that the findings of the Social Mind research will enable B2B, B2P, B2C or Cause marketers to understand the importance and relevance of content - and - its ultimate impact and influence on behaviors, beliefs, decisions and actions.

To this end, we are endeavoring to identify key characteristics and insights into the engagement behaviors of individuals and how organizations can maximize reach and influence to execute on what we call the new Principals of Engagement In the Millennium. 

We invite you to participate in this study by taking a brief survey.  We will share the full results of the research with all who respond. We also invite you to forward the survey to a peer, retweet it, G+ it or share it however you see fit.  This is an open study intended to bring full value back to all who respond.

Thank you very much for supporting The Social Mind research project!

About SNCR.

Through The Society of New Communication Research (SNCR), we are endeavoring to contribute to the industry learning and best practices with much needed research data. 

We are a group of researchers and practitioners who come together to help further the understanding and best practices of social media, social business and social influence.  We volunteer our time to further the industry and help raise awareness of social media function in business and society.

Research Findings Highlight the Evolution of Social Business

I am proud to release the results of the 2nd annual New Symbiosis of Professional Networks research study by The Society for New Communications Research (SNCR); a benchmark on the impact of social media on enterprise decision-making.

The study is a result of collaboration between me and Vanessa DiMauro as part of our fellowship with SNCR.  My colleague at SAP and Senior Fellow at SNCR, Peter Auditore, also contributed to the analysis.

In the first study we focused on professionals’ use of social media—and it all comes back to the strength of the relationship. Human relationships and peer-to-peer decision-making are inherently interrelated.  Professional networks facilitate vast interactions, connections, and networks of people by enabling collaboration anywhere and at any time. 

Communities of practice, professional networks, social media, email, and SMS are among the tools that enable multi-channel access for individuals (employees, customers, partners, and suppliers).

In this second study, we further examined the role of social media on decision-making among enterprise users and explored the dynamics of trust as well as the value of engagement and collaboration to support decision making and innovation across company operations for internal and external purposes.

Specifically, we sought to explore the following questions:

• Is social media regarded as a trustworthy source of information for professionals? 
• What do enterprise decision makers value most when interacting with peers through social media and social networks?
• How do enterprise decision makers use social media to gather information, advice and support peer collaboration; and how do they compare to traditional off-line networking and knowledge share?
• What tools and sources of social media are relied upon by professionals to make decisions?
• Will social media change the business and practice of enterprise-level operations (internal and external)?
• How do business leaders use social media for customer engagement/support; innovation of products and service; employee engagement; strategy development; sales and marketing?
• What has changed since 2009 in terms of social media usage and trust among professional decision-makers?

The study was supported by quantitative data gathered via online survey of 114 professionals to understand their perceptions and experiences with social media in support of their decision-making.

Key demographics of the research:

• Close to two in ten (18%) respondents identified themselves as the CEO of their organization, with close to half identifying themselves as a “Director” (20%) or “Manager” (24%).
• Company size ranged from less than 100 to over 50,000 full-time employees.
• Age was well distributed with the greatest proportion in the 36-45 range.
• 10 countries were represented, with 76% of respondents living in the US.
• All respondents were either the decision makers or influenced the decision maker.

Below are key findings of the research.  A presentation of the detailed findings can be found here.

Four key findings from the research include:

If Facebook Were a Country…

By the numbers, Facebook is well over 500 million members strong.

As a community, its members spend over 700 billion minutes a month and share over 30 billion pieces of content (per month) in the Facebook environment (via status updates, comments, videos, links, etc.).

If you compare Facebook to the populations of the largest countries around the world it would rank 3rd behind China and India.  

Like China and India, Facebook is an ‘emerging’ economy that business professionals are trying to understand.  It has its own social norms, privacy issues, cultural sensitivities and community rules that govern how business is done and how its members engage and derive value.

Unlike China and India, however, the ‘Facebook Nation’ has no borders (with amost 70% of members outside of the U.S.) and is growing at a rate that will likely eclipse China and India over the next 3-5 years - in terms of population. 

The rise of Social Business.

Online social communities like Facebook have reached a level of maturity in that their value is more than just about ‘connecting people’ or helping people manage their relationships.  The power and impact of communities like Facebook, Twitter (175 million members) and Yelp (33+ miilion members) have reached impressive milestones over the last 18 months on a number of socioeconomic, business, and political levels. 

From a business perspective, just as business leaders are actively looking to emerging economies like China and India for opportunities to grow and expand their business; they must also take time understand the opportunities of doing business and managing their corporate presence in any of the growing number of powerful social communities (like Facebook) - beyond maintaining fan pages and advertising/sponsorship campaigns.

A Shift in Perspective.

Business leaders must shift their perspective on social media to think more in context of social business and how principles of social thinking can help them be successful and more competitive in this new environment.

As I have written before, I see that there are essentially three fundamental principles of social thinking that business leaders must align to, in order to be successful in a social business environment.  You must:

Social Media Has Changed The Business Buying Process...

By Don Bulmer and Vanessa DiMauro

But how?

We are pleased to announce the launch of the 2nd annual New Symbiosis of Professional Networks research study.

Vanessa DiMauro, CEO, Leader Networks and I are leading this research as part of our 2010 Fellowship with The Society for New Communication Research (SNCR).

This annual study, explores how social media is impacting business by better understanding how business leaders use social media and social networks to support and inform their decisions. 

When we understand how social media changes professional decision-making, organizations can be more efficient, timely and supportive in how they interact with customers- ultimately leading to better engagement and decision-making in business.

Participants in this year's study will receive a free copy of the results. A link to the survey and last year's findings can be found on the research website.  

About the Research

The New Symbiosis of Professional Networks is an annual research study designed to benchmark the impact of social media on enterprise decision-making.

The social nature of decision-making has increased significantly, connecting generations of professionals to each other—changing the dynamics of customer relationship management, marketing, and communications – forever.

In the first study, we focused on professionals’ use of social media—and it all comes back to the strength of the relationship. Human relationships and peer-to-peer decision-making are inherently interrelated. 

Professional networks facilitate vast interactions, connections, and networks of people by enabling collaboration anywhere and at any time. 

Communities of practice, professional networks, social media, email, and SMS are among the tools that enable multi-channel access for individuals (employees, customers, partners, and suppliers).

In this second study (in the series) we will further examine the role of social media on decision-making among enterprise users and explore the dynamics of trust as well as the value of engagement and collaboration to support decision making and innovation across company operations for internal and external purposes.

The study explores the following questions:

• Is social media regarded as a trustworthy source of information for professionals?
• What do enterprise decision makers value most when interacting with peers through social media and social networks?
• How do enterprise decision makers use social media to gather information, advice and support peer collaboration; and how do they compare to traditional off-line networking and knowledge share?
• What tools and sources of social media are relied upon by professionals to make decisions?
• Will social media change the business and practice of enterprise-level operations (internal and external)?
• How do business leaders use social media for customer engagement/support; innovation of products and service; employee engagement; strategy development; sales and marketing?
• What has changed since 2009 in terms of social media usage and trust among professional decision-makers

Thought Leadership – A New Social Currency

Social media is a tremendous environment for B2B companies to establish competitive advantage through compelling thought leadership.

In a social environment, thought leadership allows companies to frame and stimulate conversation and collaboration around important and sometimes complex ideas and real-world business and socioeconomic problems – where their solutions are uniquely positioned to help address.

Through social media, companies can reach highly targeted audiences by role (CEOs, CIOs, developers, etc.), industry orientation and geography through any form of generic or specialized social network or community (LinkedIn, Facebook, Twitter, MyVenturePad.com, YouTube, etc.).

If compelling, people will contribute, share and internalize the thought leadership – giving companies a tremendous opportunity to influence agendas and establish standards in the market.

As outlined in a recent post by Rob Leavitt, in order to make an impact - thought leadership requires focus, depth and continuity.

For many companies this represents a big challenge due to a lack of skilled and trained staff (in house) to produce good, deep and continuous thought leadership - on their own.

Where resources are limited (in-house) many companies rely on external 'thought leaders' and influencers such as high profile academics, analysts, consultants and industry experts to help shape industry conversations.

Every company is a media company

Tom Foremski has made a passionate and compelling case for why every company is now a media company - in the wake of a disrupted and distributed media industry.

The cascade of the strengthening forces behind the disruption of the media industry (that Tom outlines) has forever changed how corporations manage their communications, reputations, brands and execution of business strategies.

On the positive side, companies now have the ability (and forced accountability) to communicate directly with its key audiences – giving them greater reach and more influence than traditional media has ever offered as a primary channel in the past. 

On the flip side, success in a new media environment requires a shift in how companies use their cadre of resources including employees, customers, partners and external influencers to be successful.

As every company is now a media company...every person is now (also) a media entity. 

Those companies that maximize and mobilize its employees and external stakeholders around important ideas and issues - will be successful.

This is where thought leadership can play a powerful role.

Horn Group Panel Event: Suprise! You're a Media Company!

I had the pleasure to participate in a panel this week hosted by the Horn Group and moderated by Sam Whitmore, of Sam Whitmore Media Survey.  The panel included the following people (including me):

• Charlene Li, Founder of Altimeter Group, Author of Groundswell, and of “Open Leadership,” due out in May from Jossey-Bass 
• John Byrne, former Editor-in-Chief of BusinessWeek.com and Chairman and Founder, C-Change Media
• Karen Wickre, Senior Manager, Global Communications and Public Affairs, Google

The topic for the panel was inspired by Susan Etlinger at the Horn Group who wanted to convene a group of practitioners, thought leaders and media professionals to discuss the convergence of media, social media and business and what it means for every company to be a media company.  It was a provocative topic that made for a great discussion.

Every Company is a Media Company - New Blog, New Discussion

As I recently discussed, Tom Foremski, Vanessa DiMauro and I have started a great collaboration – extending from of our work together at the Society for New Communications Research (SNCR). 

The three of us meet regularly to discuss industry trends and share experiences from our respective work in media, business and technology.  Our discussions have sharpened our individual and collective views on social media and social business that have helped us (or at least me, anyway) become more effective in our 'day jobs.'

Through our collaboration, we have also identified a great opportunity to share our experiences and ideas through a new blog, intended to help business leaders and practitioners understand how to incorporate social strategies and social thinking into the heart of their business operations (beyond marketing and communications) - strengthening the competitive position and market leadership of their companies.

Today we launched the blog Every Company is a Media Company.  This blog is intended to support rich discussion between marketing and communications practitioners, business and IT professionals, academics, consultant, etc.

Here are a few excerpts from the welcome post authored by Tom:

Every company is affected...

Every Company is a Media Company (EC=MC) is the most important business transformation of our times because every company is affected.

It is also a massive business opportunity for so many businesses.

Every company is a media company becomes the point of the spear for new business for many companies across many sectors.

- Companies need help in mastering the best practices of being a media company.
- Management needs help in implementing the new business processes and in measuring progress.
- Companies will need new IT equipment, new software, new types of services, and more...

There will be opportunities for vendors of all types, armies of consultants, experts of all stripes, media professionals, teachers, authors...

Beyond social media...

Every company is a media company moves beyond the current focus on social media. Social media is just one aspect of a company's media strategy.

Social media is not enough, companies have to focus on their entire media strategy, it becomes integral to their core business strategy.

You have to be involved... 

Social Media Meets Business: Every Company is a Media Company

2010, where have you gone?!

One of the great highlights for me so far in 2010 has been the opportunity to collaborate with two great industry friends and SNCR colleagues - Tom Foremski and Vanessa DiMauro.

Tom is a well known blogger who left the Financial Times about six years ago to be a full time journalist blogger. For the past six years he has built a loyal following of 60k+ people who subscribe to his popular blog Silicon Valley Watcher to read his keen observations and straight shooting analysis on the important trends in business, technology and media driving Silicon Valley. (Tom is also credited with defining the term “Every Company is a Media Company”)

Vanessa is a well known thought leader, researcher and accomplished business women. Through her company Leader Networks she has made quite a name for herself advising companies and developing high profile communities and social networks for businesses.  Her efforts have helped to bring her client companies closer to customers, employees, partners and thought leaders - delivering great business value in return.  
 
Through our collaboration, Tom, Vanessa and I meet regularly to discuss industry trends and share experiences from our respective work in media, business, and technology. The collaboration has (in part) formed a great foundation for thought leadership, education and insight about the impact of social media on business - with particular emphasis on how business leaders should incorporate social strategies and social thinking into the heart of their business operations (beyond marketing and communications).

Over the last two years much has been written about social media as a tool(s) for marketing and communications professionals to expand the reach and engagement with their key stakeholders (customers, partners, employees and influencers) to communicate messages, create and shape reputations and generate buzz around a company’s products and services.

The hype around social media in the context of marketing and communications has created a vibrant industry for consultants and technology companies to offer high value thought leadership, education (via events/workshops) and tools that have helped many ‘practitioners’ evolve and adapt to working in a world that is ‘all things social.’

Spending on social media projects is expected to reach $3.1B by 2014 up from $700M in 2009 according to Forrester. This is an amazing number and I am sure there are forecasts by other organizations that predict even higher spend and growth.

Coming out of ‘The Great Recession’ of 2008/2009 many business leaders see the benefits of social media from an operational perspective as a way to significantly reduce spend on high cost marketing activities (such as advertising and events) by using social media to extend a company’s reach and have a direct dialog with their customers. Social media has arguably been most disruptive to traditional corporate communication models due to its use by investors, consumers, partners, employees, governments and influencers (media, analysts, academia, etc) to share opinions and talk about companies that have had significant affect on reputation management.

Recent stats show that the adoption of social media by everyday people has reached impressive and eye opening numbers: 

Effective Customer Engagement in a Social World - A New Mandate

This is the seventh in a series of posts that Vanessa DiMauro and I have recently published highlighting the more significant findings and excerpts from a forthcoming report based on the The New Symbiosis of Professional Networks study that we conducted as part of our fellowship with The Society for New Communications Research.  Please visit both Vanessa's and my blog regularly for the latest analysis.

"In one’s professional life it becomes even more important to get endorsements or positive user reviews when making a work decision because it is usually a huge ticket item and your credibility relies on it, your job relies on it."  - This quote is from a social media executive at a Fortune 10 company.

Professional networks and business focused on-line communities are quickly becoming a new strategic mandate for many professionals and companies selling in a Business-to-Business environment.  As discussed in previous posts, it has long been known as truth that peer endorsement is the single greatest decision-making accelerant.  Through social media, peer influence cycles are happening at a velocity never before seen, and in many ways, companies are losing the ability to control their messages and their 'sales cycle.'  Decision making is clearly becoming more social.

Effective customer relationships are the core to any successful organization and the strength of any organization is largely dependent upon the company’s ability to deliver the right products and services to its customers in a timely way. Knowing what the customer wants and understanding their current and future needs is paramount to increasing revenue and exceeding customer expectations. Communities provide a prime opportunity for organizations to get to know their customers more intimately and keep the finger on the pulse of their needs and behaviors. The time is now for companies to embrace communities to help them serve their clients better, faster, and in more cost-efficient ways. Through the use of professional networks companies now have an opportunity to forge a dialog with their customers actively throughout the lifecycle -- not just at the point of sale -- to learn what they like and don’t like about a product or service.

There is nothing more dangerous to an organization’s lifeblood than a group of dissatisfied customers. Yet, often times, an organization may not even be aware of clients’ issues until they have incurred reputation damage or a trending loss in revenue. By cultivating meaningful relationships on-line, product development leaders can work with clients to share road-maps and plans -- and to get early input from the people who would be their buyers at a later stage. Marketing can learn what messages are most effective with their constituents and have greater opportunities to educate and inform the customer, not just with shiny white-papers and marketing newsletters but by bringing them into the discussion and process of product and content co-creation. Professional networks also offer opportunities to make heroes out of users, enabling them to share best practice and learn first hand from each other. This is especially effective with enterprise level support when the key buyer is a C-level executive: information sharing could result in strategic growth opportunities for all involved.

In the New Symbiosis of Professional Networks research, we found that many professionals have shown a strong increase in trust and reliance on their professional networks to support their decision making over the last three years.

Through the use of professional networks and on-line communities, decision-makers are connecting and collaborating with peers, experts and colleagues far and wide in an on demand environment, about the issues that keep them up at night.  The impact of these far-reaching business networks is becoming clearer every day as millions of consumers, partners, suppliers and businesses discuss and share their professional experiences with each other with increasing levels of trust and reliance. 

For many companies, a behavior change is required to effectively engage with customers through a Social Media Peer Group setting - dominated by valuable content and genuine contributions, transparent honesty and a commitment to follow where the decision-maker wants to lead.

PR News Hall of Fame

I was honored this week to be inducted into the PR News Hall of Fame.  I received the honor at a luncheon ceremony that took place at the National Press Club in Washington D.C.

Fellow industry colleagues who were also inducted into the PR News Hall of Fame this year, are:

• Peter Debrecney - Strategy Execution Consultant, Gagen MacDonald
• Donna Imperato - President and CEO, Cohn & Wolfe
• Michael Kempner - President and CEO, MWW Group Inc.
• Marcia Silverman - Chair and former Global CEO, Ogilvy PR 
• Larry Parnell - Associate Professor and Program Director Masters in PR at The George Washington University 

What is special about this for me is that although the honor (Hall of Fame) suggests recognition of 'overall' career accomplishments – I really am right in the prime of my career.

 

Throughout my career I have had great success leading award winning marketing, communication and business development programs for global enterprise technology, Internet start-up and professional service companies where I have designed numerous multi-faceted marketing and communication programs to support the launch of companies and the introduction of new products and services that have led to the creation and redefinition of several multi-million and multi-billion dollar, 3d party validated market categories.

 

As part of the global communications management team at SAP, I currently lead the Industry and Influencer Relations organization which includes: IT Influencer Relations, Business Influencer Relations, Global Customer Communities and University Alliance programs.  In 2008, I joined the board of directors and became a fellow at The Society for New Communications Research (SNCR).

 

Mentorship and Team

 

I have been lucky to work for and with many great and dynamic communication-savvy executives and managers at companies throughout my career (thus far) who have been at the cutting edge of business and technology leadership.  At each step, I have been given tremendous opportunity to take risks and innovate the design of integrated communication and influence programs, providing great returns for my employers and clients.