Technology has made customers much more discerning and savvy than they used to be. Nowadays, consumers go online and read product or service reviews before making a purchase, use mobile apps to compare prices and visit a brand’s Web site or engage with other consumers and with the brand itself on social networking channels.
In 2011, almost 70% of respondents in a survey say that no social media platform influenced their buying decision. By 2012, that number had declined by half, with only 35% saying that their purchasing decisions were not influenced by social media. Analysts are expecting this number to decline even further in 2013.
Dayle Wheeler, MD of Modern Business and creator of “ideas”, which is a unique approach to enterprise social networking (ESN), echoes this sentiment.
“It is becoming increasingly important for companies and brands to ensure that their business engages with their customers and to provide a platform for them on which they can query something or raise issues. How you do this will determine the sustainability of your business,” Wheeler says.
Wheeler is of the opinion that ESN is best the way to accomplish this. ESN can basically be defined as an online platform that runs on a company’s internal network with the aim of connecting colleagues or other people with shared business interests, enabling them to contribute and access the ideas, knowledge and resources they need to work together.
However, it can also help users to effectively take control of their environment, business, customer and brand for a sustainable and profitable future.
He explains that ESN differs from mainstream social media platforms such as Facebook and Twitter in that it isn’t focussed on who says what, but rather on what has been communicated.
“Facebook and other popular social media sites are all about one individual sharing a thought, idea – or more often, an inane status update – and then being ‘liked’ for it. With ESN, the focus shifts to the idea, because that is the important asset that will fuel and drive innovation. And when you are on Facebook or any other free service, you become their product. With Facebook, you have no data mining capabilities or other filtering services at your disposal enabling you to use your information and that of your customer. Your brand will also always be obscured by the free brand.”
And according to analysts, ESN will increasingly become the tool of choice for companies to connect with customers. Forrester Research says the market opportunity for social enterprise apps is expected to grow at a rate of 61% through 2016.
A recent IBM CEO study found that only 16% of CEOs are currently using social business platforms to connect with customers, but that number is expected to increase to 57% of CEOs by then. IBM expects social media use in enterprise to drastically increase, with 82% of chief marketing officers saying that they plan to boost their social media use in the next three years.
Wheeler says ESN allows businesses to engage and retain the customer, and as users get to know the customer in this way, it will allow them to spend less on future marketing to that customer.
“But this isn’t the only benefit to engaging your customer. You can learn from each campaign for an improved target market; you’ll be able to learn about new markets that you have not yet targeted; you can use it for product or service improvement and innovation,” says Wheeler.
Wheeler’s platform, ideas, has been designed to help users learn about their customers and target market, and enables them to target and refine their message, all while building up their community on one platform, which grows over time with no loss of knowledge.
In 2011, almost 70% of respondents in a survey say that no social media platform influenced their buying decision. By 2012, that number had declined by half, with only 35% saying that their purchasing decisions were not influenced by social media. Analysts are expecting this number to decline even further in 2013.
Dayle Wheeler, MD of Modern Business and creator of “ideas”, which is a unique approach to enterprise social networking (ESN), echoes this sentiment.
“It is becoming increasingly important for companies and brands to ensure that their business engages with their customers and to provide a platform for them on which they can query something or raise issues. How you do this will determine the sustainability of your business,” Wheeler says.
Wheeler is of the opinion that ESN is best the way to accomplish this. ESN can basically be defined as an online platform that runs on a company’s internal network with the aim of connecting colleagues or other people with shared business interests, enabling them to contribute and access the ideas, knowledge and resources they need to work together.
However, it can also help users to effectively take control of their environment, business, customer and brand for a sustainable and profitable future.
He explains that ESN differs from mainstream social media platforms such as Facebook and Twitter in that it isn’t focussed on who says what, but rather on what has been communicated.
“Facebook and other popular social media sites are all about one individual sharing a thought, idea – or more often, an inane status update – and then being ‘liked’ for it. With ESN, the focus shifts to the idea, because that is the important asset that will fuel and drive innovation. And when you are on Facebook or any other free service, you become their product. With Facebook, you have no data mining capabilities or other filtering services at your disposal enabling you to use your information and that of your customer. Your brand will also always be obscured by the free brand.”
And according to analysts, ESN will increasingly become the tool of choice for companies to connect with customers. Forrester Research says the market opportunity for social enterprise apps is expected to grow at a rate of 61% through 2016.
A recent IBM CEO study found that only 16% of CEOs are currently using social business platforms to connect with customers, but that number is expected to increase to 57% of CEOs by then. IBM expects social media use in enterprise to drastically increase, with 82% of chief marketing officers saying that they plan to boost their social media use in the next three years.
Wheeler says ESN allows businesses to engage and retain the customer, and as users get to know the customer in this way, it will allow them to spend less on future marketing to that customer.
“But this isn’t the only benefit to engaging your customer. You can learn from each campaign for an improved target market; you’ll be able to learn about new markets that you have not yet targeted; you can use it for product or service improvement and innovation,” says Wheeler.
Wheeler’s platform, ideas, has been designed to help users learn about their customers and target market, and enables them to target and refine their message, all while building up their community on one platform, which grows over time with no loss of knowledge.
