Guest Blog by NewsGator's Melissa Risteff: March Madness! NewsGator's 'Elite Eight' E2.0 Benefits
With all the flurry surrounding the NCAA tournament, we thought we'd take a fun approach at reflecting on the hard business benefits of technology investments. So, acting like our own E2.0 selection committee, we took the top 68 benefits and narrowed them down to NewsGator's Elite Eight - featuring some good statistics on the real benefits of Enterprise 2.0 technology. Like all good selection committees, we wanted to make sure that only the best eight benefits were included, so we used stats, like a poll of attendees from our recent 2011 NewsGator Collective User Group Meeting, and a recently released McKinsey Quarterly report on a survey of 3,249 executives weighing in on Web 2.0 in business.
- Speed of knowledge access. Quick, where's that operational dashboard you read last month, the one that would be so valuable to you right now? If you're an employee working in a highly networked Enterprise 2.0 organization, you would have bookmarked the item in your activity stream, and commented about its context and relevance for later. If you don't work in such an organization - and that information is just out there in the wild - good luck conjuring it all back up again.
83% of NewsGator survey respondents said they are measurably increasing the speed of access to knowledge; as compared to 77% of Web 2.0 users in the McKinsey survey.
- Speed of internal expert access. When employees need knowledge and support, where do they turn? In a highly networked organization, collective intelligence is always at your fingertips. Rich social profiles track explicit (or stated) experiences and skills. Questions in the activity stream are automatically routed to individuals who possess the expertise to effectively respond just in time.
55% of our respondents reported measurably increasing speed of access to internal experts like this in comparison with 52% of the McKinsey respondents.
Employee satisfaction. Highly networked organizations give employees easy ways to immediately feel connected, start contributing - and be recognized for those contributions. By providing faster access to knowledge and experts, a highly networked enterprise can help employees and the organization reach their goals. Achievement and affiliation are keys for employee motivation and satisfaction.
So it's not surprising that 42% of our respondents reported that Web 2.0 in their company was measurably increasing employee satisfaction. 41% of the McKinsey respondents reported that Web 2.0 was increasing satisfaction in their companies too.
- Scalability. The right Enterprise 2.0 technology can easily accommodate hundreds of thousands of users. 44% of our respondents work at companies with greater than 50,000 employees. These large organizations need ways to connect globally distributed workers that are performing common tasks or simply working on cross organizational projects. Commonly our customers express that these technologies improve their ability to drive standard delivery models and sustainable business practices.
- Transparency. Activity streams are not scary distractions. In a highly networked enterprise, water cooler conversations and critical business exchanges take the form of transparent micro-exchanges that flow in real time. Ask questions in the stream and get responses without having to stroll around the office or send myriad point-to-point communications. Feeling overloaded? Leverage intelligent filters to navigate your knowledge bases and collective intelligence. Activity streams are the most used social computing capability among the NewsGator respondents.
- Market Share. The more agile an organization, the greater its ability to react to new customer opportunities quickly and more powerfully than competitors. Topic-based queries retrieve the social graphs of your most wired and authoritative colleagues. Whether you are sourcing resources for a key new business initiative or trying to find the answer to a critical customer inquiry - accessing your internal IP is a snap. A highly networked organization should be able to exercise that superior agility every time.
McKinsey found that working closely with customers online and collaborating extensively across internal silos using Web 2.0 technologies correlates with higher market shares. Imagine that! Our customer experience suggests the same. Just look at our customer list.
- Margins. Social computing enables organizations to achieve results with less effort. Let's say you've been thrown onto a new project and need to quickly come up to speed. In a highly networked organization, you use hashtags and tag clouds to locate concepts that automatically pinpoint all of the relevant expertise and content - articles, posts, blogs, community conversations, questions and answers, and even the internal contributors of all those assets. Time to proficiency - whether you are on a new team or a new project - is crucial in driving down knowledge transfer costs and preventing the brain drain of your retiring workforce.
McKinsey found data suggesting that two specific Web 2.0-powered factors - the ability to make decisions lower in the corporate hierarchy and the ability to form working teams of employees and external partners - correlate with higher margins. This is again in line with our customer experience.
- Reduced communications costs. Social computing can significantly lower email storage costs, long distance charges, and videoconferencing equipment investments. 77% of McKinsey respondents reported reducing communications costs - again, consistent with our experience.
In fact, a year or so ago we took a hard look at the storage angle. We found that by reducing the email volume ($500/GB per year in storage costs) by just 2% for a large manufacturing company, that company could save $2.6 million per year. Social computing is a good way to save that money (and who doesn't want less email?).
Contemplate these points, and you'll be on your way to strengthening your business case for using social and other web 2.0 technologies while transforming your organization!
Mar 28 2011, 12:00 PM
Filed under: Adoption, Guest Blog, Newsgator, Enterprise 2.0, Social Networks, Web/Tech, Communities, Business Social Software, NewsGator News, Microblogging, NewsGator Corporate, Melissa Risteff
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About Melissa Risteff
Melissa Risteff is responsible for all marketing activities at NewsGator, including demand generation, marketing communications, social media marketing, and product marketing. Melissa has had extensive experience in using Web 2.0, social media, and traditional marketing technologies to effectively build brand awareness, generate leads, and drive revenue at Fortune 500 companies as well as startups. Before arriving at NewsGator, Melissa was the Chief Marketing Officer at a collaborative analytics software firm and the Vice President of Marketing and Product for an eLearning company. Prior to that, she held many senior level marketing and product management roles at Sun Microsystems and General Electric. Melissa holds a B.S. in Marketing from Bentley University, and MAS in Technology Management from the University of Denver.
Twitter ID: @mristeff