| Social media provides users with information via | | | | shopper' at the company! Such customer |
| blogs, podcasts, and webinars. Users write | | | | satisfaction can only drive return business. |
| reviews or create forums, wikis, and videos. | | | | For 71 of its 75 years, Indium Corporation of |
| Users connect with each other and providers | | | | America, developer, manufacturer and supplier of |
| through virtual worlds and social network | | | | solders and thermal interface materials, acquired |
| communities. | | | | business through direct marketing and trade |
| "Social networking has caused a fundamental and | | | | shows. Four years ago, the marketing director |
| transformational shift in the way that people are | | | | tapped an engineer on the shoulder and asked him |
| connecting, knowledge is being shared and | | | | to start blogging. Four years later, Indium has ten |
| information is flowing," says Charles B. Kreitzberg, | | | | blogs and 15 bloggers, professional staff who |
| Ph.D., CEO of Cognetics, a firm dealing with the | | | | cultivate relationships that have moved offline to |
| human aspects of computer technology. | | | | ongoing business relationships. Made worldwide, |
| About 50% of large companies and 75% of small | | | | these relationships have not only enhanced |
| ones (fewer than 500 employees) are using social | | | | customer satisfaction and brand loyalty but |
| media of all types. Of those, it is estimated that | | | | employee satisfaction as well; employee bloggers |
| 40-60% have their own social network. Microsoft | | | | feel empowered to interact with customers in |
| has the Town Square, IBM the Blue Pages, and | | | | new ways. |
| Best Buy the Blue Shirt Nation. | | | | "Relationships in business mean everything; the |
| "Engage me, inform me, and entertain me," says | | | | relationship should be with the people behind the |
| Bernie Borges, author of Marketing 2.0: Bridging | | | | site, not with the site itself. Those in the |
| the Gap Between Seller and Buyer on the Social | | | | organization must foster and nurture the |
| Web. "But don't make me read an ad; don't send | | | | relationship," states Anne Pauker Kreitzberg, |
| me email news. Companies are made up of | | | | President of Cognetics. |
| people; be social with your existing and | | | | By social networking, employees learn new things |
| prospective customers." | | | | about their colleagues - personally and |
| Sharing Knowledge | | | | professionally. One employee was struck by |
| Social networking creates personal networks of | | | | insightful comments made online by a colleague, a |
| friends and professional networks of colleagues | | | | man who appeared aloof during face-to-face |
| available to offer information at the click of a | | | | meetings. This realization prompted the employee |
| mouse. Meeting others through online | | | | to interact more often with this colleague. Social |
| conversations creates and strengthens | | | | networking opens up infinite possibilities and |
| relationships, alerting employees to who knows | | | | resources - not the least of which may be |
| what, where to go for information. Through social | | | | increased employee satisfaction. |
| networks, people share common interests or | | | | Engaging Employees |
| needs who wouldn't normally meet; they support | | | | Social networking also increases employee |
| each other in knowledge sharing and problem | | | | satisfaction on the job because employees feel |
| solving. | | | | more engaged in their work. An $8-billion energy |
| Social networking helps form business strategies | | | | company was conducting a strategic analysis of |
| and strategic alliances. Howard Rheingold, Rheingold | | | | factors influencing its industry. The usual practice |
| Associates, notes that a large teachers | | | | was for the company to hire external consultants |
| organization had developed and was promoting | | | | to work with its corporate officers. |
| new standards for teaching math at all levels. | | | | Recently, however, the company created an |
| Getting everyone together was unrealistic so | | | | online network to engage people at all levels of |
| what was the most efficient way to promote the | | | | the company around the world in discussions (real |
| new math standards? | | | | time and asynchronous) about industry trends, |
| Ultimately, the teachers organization partnered | | | | new technologies, the economy and factors |
| with a public television station to produce and | | | | influencing the success of the company. Some |
| distribute videos showing real teachers teaching to | | | | group discussions became so dynamic that |
| the new standards. A teacher facilitated | | | | problem-solving moved to creativity and |
| interaction on a social network with groups of | | | | innovation! Social networking activities made |
| teachers to share teaching experiences, student | | | | information relatively easy to locate and |
| projects and best practices. One teacher noted | | | | summarize in a report. |
| that just reading about the new standards would | | | | Facilitating Talent Management |
| never have given him the "...rich, depth of | | | | Social networking facilitates talent management. |
| information, and resources obtained through the | | | | Among the largest law firms in the world, Latham |
| social network." | | | | & Watkins LLP has a private social network |
| Enhancing Communication | | | | containing policies, procedures, forms, invitations, |
| Social networking allows people to get and stay in | | | | upcoming events, calendars, forums and photos. |
| touch, minimizing the need for endless email | | | | The network is used early in the recruiting |
| streams or the wait for an 'expert'. Online users | | | | process through to the 'alumni' relationship, when |
| are surprised by how quickly they get responses | | | | attorneys leave or retire from the firm. |
| from employees at Sears and Kmart in response | | | | The firm grants second or third round recruits |
| to questions and complaints posted on company | | | | limited access to the network. Once a position is |
| websites. Timely communication fosters customer | | | | accepted, on-boarding is managed through the |
| satisfaction, which creates brand loyalty and | | | | social network. When new attorneys show up for |
| contributes to the bottom line. | | | | work the first day, they have already made |
| Online social networks at work facilitate | | | | connections and developed relationships with other |
| continuous employee communication, which | | | | staff. This social network stimulated a 15% |
| promotes awareness of and helps employees | | | | increase in first year retention and a 38% |
| better understand the roles and responsibilities of | | | | increase in first year productivity. |
| colleagues in other departments. This helps | | | | In addition to enhancing productivity, social |
| employees feel a part of the whole, increasing | | | | networking creates an environment in which |
| employee satisfaction at work. | | | | employees continuously contact others for advice, |
| Making Connections, Cultivating Relationships | | | | strategies, and best practices - just-in-time to |
| Information and knowledge are shared with | | | | apply it on the job. This helps minimize the need |
| people, not organizations. We all know that | | | | for training outside of the organization, saving |
| creating relationships is essential to business | | | | both time and money. |
| success; social networking connects people, who | | | | "The key to the successful use of social |
| often establish relationships lasting a lifetime. | | | | networking is to listen and the ability to listen is |
| Two-thirds of all Zappos employees are on | | | | easier than ever," notes Borges. "You identify the |
| Twitter, where they are encouraged to let their | | | | community you want to reach and listen to what |
| personalities shine through when connecting online | | | | they say. On the web, it's easy to track interests |
| with customers to offer tips on shoe care or | | | | and trends. Comments from consumers turn into |
| respond to customer questions. Customers | | | | leads." Do you know how social networking |
| describe it to be like having their own 'personal | | | | contributes to your bottom line? |