Last week I took part in a great Enterprise 2.0 conference in Copenhagen and it gave me a brilliant opportunity to talk to dozens of Enterprise 2.0 practitioners from industry and organizations – and, of course, the ‘gurus’ :)
A very common challenge among practitioners is the executive sponsorship – (ahem) or lack thereof. Even in companies which I would consider really having a finger on the pulse and being social media leaders, practitioners report lack of C-level sponsorship, lack of interest and, not least, lack of money. These are the same decision-makers who regularly fund ERP projects with seven or eight figure budgets. My conclusion, at this stage, is that top executives are still largely ignorant about Enterprise 2.0 terminologies and, at best, they are only vaguely familiar with terms like Enterprise 2.0, corporate social media, social computing, microblogging and wikis. At worst, they consider them a waste of time and believe we’re talking about Facebook.
But just like any other sound business decision, a decision to deploy corporate social media needs to be based on a sound business case. This is the merciless truth about corporate sponsorships and bags of cash to follow.
Let’s look at some of the drivers. According to social media guru Suw Charman-Anderson, 38% of all employees get more than 100 emails a day, 13% more than 250 emails and 20% spend more than 4 hours a day sifting through emails. We check our emails on average every 5 minutes and it takes us 64 seconds to get our train of thought back on track after we deal with email. This means we spend 48 days a year figuring out what we were just doing. Email is quickly becoming the number one productivity obstacle. An organizational dinosaur. 1-0. Go figure out how much productivity potential lies in driving communication and collaboration from email to social media in your organization.
A recent study by the INSEAD and Wharton business schools provided overwhelming evidence that virtual brainstorming, or distributed idea generation as it’s also known as (e.g. wikis), outperforms actual face-to-face brainstorming. Let’s think about that one. “This has significant managerial implications: if the interactive build-up [of team brainstorming] is not leading to better ideas, an organization might be better off relying on asynchronous idea generation by individuals using, for example, web-based idea management systems.” So if your organization is focused on innovation, this is the way to go. 2-0 and it’s not even half time.
Bottom line, companies are beginning to reap major benefits in terms of higher revenues (through shared external networks), faster time to market (through more effective collaboration and innovation), lower employee turnover (through better talent attraction and retention) and higher productivity (through less duplication of efforts). The list goes on.
In the words of one of my Twitter followers:
“It’s certainly interesting to see what social computing can do for our existing organizations, but it’s even more interesting to see what organizations we can build with social computing”.
Let’s build your business case!