The Answer is Yes
Peggy Dau, Contributing Analyst
June 30, 2009
We have heard the term Web 2.0 for the past several years. Web 1.0 referred to the technologies that allowed us to leverage a global network to access information 24x7. Web 2.0 is the expansion of those technologies to allow more personal user interaction. Early Web 2.0 was exemplified by the ability for consumers to provide reviews and ratings of products (i.e., Zappos, YouTube, Amazon). Applications and platforms have evolved to allow varying types of interaction across a greater number of devices. These tools include wikis, blogs, micro blogs and forums. This combination of applications and interactive is Social Media. In fact, Social Media is most interesting and compelling when it incorporates Rich Media.
Social media emerged at the consumer level. It is the high level of interest, usage and demand by individuals to express their opinions that is driving Enterprise adoption of Social Media. The question is, is social media valuable for the Enterprise? The answer is yes.
Last week the Enterprise 2.0 Conference, in Boston, addressed just this question. Enterprise 2.0 is the use of social media by the enterprise. It is more than companies utilizing social media on their external sites. It is the use of applications and platforms to create a more effective enterprise. The E2.0 conference brings together social media vendors and companies interested in deploying social media to discuss the implications or the technology and explore the impact on organizations from the perspectives of technology, culture and process.
The good news is that companies are implementing social media solutions for both external and internal reasons. Enterprise 2.0 provides value through:
- Improving productivity and employee efficiency – people and/or teams gain access to knowledge and resources more quickly.
- Enhanced innovation – tapping into collective knowledge increases the potential for creative ideas.
- Reduced email – quick questions or topics that require group interaction are taken out of the email thread.
- Improved team performance – active collaboration due to increased trust helps teams achieve results more quickly.
- Consistent communication – effective dissemination of executive, middle-management or groups specific content.
- Enhanced collaboration –appropriate tools to foster behavior to actively share and discuss topics across and within business groups.
- Effective learning and development – bring new employees on board more quickly using tools they are already familiar with while helping existing employees gain new skills or enhance their existing capabilities.
While the value of social media may seem to be intangible at the beginning, each of these benefits results in reduced costs or increased revenues for companies in the long run. The tangible value is dependent on organization size, employee distribution, industry, current technology in place, regulation and other factors. Any company thinking about social media should not do it just because it is the hot topic. They must assess their current challenges, consider how social media will align with their corporate strategy and align internal stakeholders.
In summary, yes, social media will bring value to the organization.