Friday, March 25, 2011

High Impact Social Business: Stories and New Perspectives by Dion Hinchcliffe @dhinchcliffe #sbs2011

Dion Hinchcliffe's presentation starts with the drivers for next-generation business:
  • pervasive global connectivity
  • new frictionless interaction
  • next-generation mobility
  • focus on network effects
  • information superabundance
  • inherent transparency, openness and broadcast
  • the rise of social capital
The current customer engagement landscape consists of traditional and digital (internet) channels. We tend to approach these two in the same way.
Channel fragmentation is now the norm (networks and devices). Customers have moved and companies have fallen behind. And this will get worse.

The most important channels where your social business takes place are:
  • Mobile
  • Social networks
  • Search (the rest of the web)
Dion went on to give a list of results social business can give:
  • Radical reduction of costs (he mentioned 30% cost decrease in support costs)
  • Customer satisfaction increases
  • Real-time response to customer needs
  • More profitable in general (relates to McKinsey 2010 study)
So where did social business come from anyway:
  • Open source software – anyone can contribute and the result is often superior
  • Recaptcha – makes sure that you’re human, but also taps into the collective intelligence of humans (by implicitly doing OCR work)
  • The search by Steve Fosset – Amazon Mechanical Turk, split satellite pictures to search for crashed airplanes
  • Innocentive – crowdsourced innovation
  • AOL – used Documentum to do compliance (lots of work, quality of work was low, very expensive tool). Replaced it by MediaWiki. Led to more contributions with better quality, richer data on a cheaper platform.
  • CIA & A-space – Intellipedia (refer to McAfee’s book Enterprise 2.0 for description of this case)
UPDATE April 6, 2011: Added pictures and links, corrected text.
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