Measurement & Analysis Of Social Media Initiatives Professor Ari Lightman Dan Choi Christie Ghetian Jason Doran Mehrzad Neville Kootar Narayanan Venkitaramanan Smita Katakwar Aman Naithani Dhruvil Sanghvi
Client Situation Research and Analysis Possible Solutions Next Steps Our Client is a Large Organization Credit Suisse is 150 th Largest Company in the world Our client is the Technology Business Partner, Investment Banking (TBP-IB) group within Technology Infrastructure Services (TIS) TIS is the largest IT group in the company TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 2
Client Situation Research and Analysis Possible Solutions Next Steps Project Mission is to improve Awareness and Engagement TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 3
Client Situation Research and Analysis Possible Solutions Next Steps Client Seeks to Build Awareness With Customers and Engage Colleagues Engagement Awareness Leadership Brand and Culture Promote Products to Workforce internal and Collaboration external customers Partner Engagement TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 4
Client Situation Research and Analysis Possible Solutions Next Steps Existing Communication Channels Existing Communication Internal to TIS & External to TIS & TBP-IB TBP-IB Townhall & Help Meetings & Sharepoint Confluence Email & IM Sharepoint Email & IM Meetings Exchange Presentation TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 5
Client Situation Research and Analysis Possible Solutions Next Steps Nature of problem TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 6
Client Situation Research and Analysis Next Steps Possible Solutions Finance Industry: A laggard in Social Media TIS Enterprise Social Media Project 3/2/2011 7
Client Situation Research and Analysis Next Steps Possible Solutions Regulatory Compliance is A Primary Concern Internally and Adoption Hurdle • Regulations surrounding communications of Financial Services firms are stringent. – SEC – FINRA • Corporate policies will have to be developed to allow for approved use of social media tools. TIS Enterprise Social Media Project 3/2/2011 8
Client Situation Research and Analysis Next Steps Researchand Possible Solutions Analysis Current State and organizations approach towards internal social media TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 9
Client Situation Research and Analysis Next Steps Possible Solutions Using Social Media Inside the Enterprise is An Emerging Idea TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 10
Client Situation Research and Analysis Next Steps Possible Solutions There Are Multiple Potential Benefits to Using Social Media Inside the Enterprise Ownership / Self-initiatives Productivity Facilitating Communication Along Corporate Hierarchy Product, Services, and Policy Innovation Rewarding and Identifying Empowering Employees Star Performers with Information TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 11
Client Situation Research and Analysis Next Steps Possible Solutions and Analysis We Are Contemplating Possible Solution Design to Recommend Client’s Strategic Possible Web 2.0 Tools Available Solutions Objectives Employee Blogs, e-newsletters, Engagement Groups, Town hall extension, Direct messaging Employee Online discussion forums, Collaboration Resource sharing platforms , crowd Sourcing Customer Communities, Groups, Engagement & Analytics, Video casting, Collaboration Voice Blogs TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 12
Client Situation Research and Analysis Possible Solutions Next Steps Next Steps: Visiting Client Office to Interview Key Stakeholders Step 1 Visit the company’s New York City office and survey various stakeholders. Step 2 Analyze existing communication tools and their performance monitoring tools already used by the client. TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 13
Client Situation Research and Analysis Possible Solutions Next Steps Next Steps cont’d: Find Tools that Fit Client Needs Step 3 Review enterprise 2.0 social media tools to meet needs of Credit Suisse TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 14
Client Situation Research and Analysis Possible Solutions Next Steps Next Steps cont’d.: Develop Internal Social Media Adoption Strategy Step 4 Suggest a framework to overcome implementation barriers in heavily regulated client environment Step 5 Suggest Strategies to enable adoption of existing social media tools Step 6 Plan for a staged rollout according to priority of objectives (engagement/collaboration) TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 15
Appendix: Harrah's case study Challenge To double the size of business and employ 700 new employees. Employee unity and communication should improve. Goals -Create a fun environment that celebrated the dealers (employees) energy giving them training at the same time. -a high-touch, high-innovation approach to reach employees Outputs -foster feedback mechanisms - conduct group competitions (similar to “American Idol”) online -new activation model for employee feedback and participation -building cultural awareness and pride -Build an online community to unite the population -present the voices of employees, supervisors, and customers. -Increase scores on the Employee Opinion Survey and Supervisor Feedback Survey TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 16
Appendix: Best Buy Case study Best Buy's Blue Shirt Nation: This case highlights the benefits of internal Social media • Employees share knowledge and Best Practice By contributing in discussion and answering questions they feel valued and gain a sense of fulfillment. • Develop Strong support system Employees share their frustration about having a bad day or the challenge of dealing with a demanding customer. Peers respond with encouragement and suggestions to cope with • Reduce Attrition rate Employees who actively participate in the social network are nearly 50% less likely to leave the company. • Encourage employee to participate in HR initiatives In an attempt to increase employee participation in their 401K program, Best Buy used the social network to promote a video contest about retirement. These video clips generated a lot of interest and enrollment in the retirement program increased 30%. Reference http://www.davidzinger.com/a-best-buy-employee-engagement-and-social-media-7454/ http://www.customerthink.com/blog/best_buy_social_networks_employee_engage 17
Appendix: AT&T Case Study AT&T used a multi Stage social media Strategy to improve employee engagement , to leverage crowdsourcing for innovative ideas and use social network to reach new potential hires. • Stage#1 Launch of tSpace 1.0 —let’s connect The first step was to bring in all of the stakeholders Know your organization and find the right fit Collect data to predict success of internal social media • Stage#2 CrowdSourcing - Launch of The Innovation Pipeline There are rewards and incentives for employees to share innovative ideas. • Stage#3 Outreach – Launch of “Work with me” A Social recruiting platform. Ref: www.socialmedia.org/blog/att-building-a-social-media-policy-live-from-blogwell/ 18
Appendix: IBM Case Study 17,000 Inside Blogs (employees use internal blogs) IBMers use tools such as Twitter and LinkedIn for external activity, but take advantage of mostly IBM tools inside the company. Internally, 100,000 employees have registered on the blogging platform to rate and comment on posts across 17,000 blogs. The Wisdom of Crowds (Don’t Worry Boss, the employees will self -regulate) Christensen ties IBM’s social media explosion to company “jams.” In 2003, IBM conducted its first jam, not unlike a band jam, bringing employees together in an online forum for three straight days. “It was a big, online collaborative experiment ,” Christensen said. “The first 8 to 10 hours, it was very negative. Over the next 12 hours, the conversation completely changed to being very constructive. By the way, there was no intervention by corporate to say, ‘Hey guys, let’s be more constructive.’ It was completely employee - led.” “We realized we could trust employees to engage. Employees realized, ‘if we’re within reason, we’re going to be trusted’.” A couple of months later, IBM opened blogging platforms inside the company. IBM now includes much bigger and more diverse crowds — as many as 500,000 people in some cases. An innovation jam in 2006 brought together employees — and friends, family and clients — to discuss more than 50 research projects within the company. From there, they voted on the 10 best, which became incubator businesses that IBM funded with $100 million , all based on “crowd” discussion. Source: http://www.socialmediaexaminer.com/how-ibm-uses-social-media-to-spur-employee-innovation/ TIS Enterprise Social Media Project Wednesday, March 02, 2011 Slide 19
Appendix: Tools available in market 20
Appendix: Tools available in market 21
Recommend
More recommend
