Pureplays address social business as transformation by definition because they have been launched to address emerging market needs that established players either do not yet understand or have yet to organize to address. Moreover, Pureplays are not adding social business to their existing services; they have been formed to practice social business. They are a small cohort in this research survey because they were constrained to social business and transformation as were advisory firms in other categories.
Pureplay firms are often smallish startups, so they are quite limited in some areas when compared to established legacy firms as in this research survey. From a market and client perspective, Pureplays represent a vital part of the market and can offer unique capabilities; however, clients need to approach them with “eyes wide open” because the way they serve clients varies considerably.
There are thousands of social media advisory Pureplay firms that are focused on marketing and promotion. Pureplays’ capabilities are largely colored by their founders’ backgrounds. Dachis Group, SideraWorks and SocialxDesign directly […]
[UPDATED] The Big Four accountancies have been rebuilding their advisory practices for the past several years, and social business transformation fits with their core competencies in important ways. Like Strategy firms, they have been watching adoption and producing thought leadership on various aspects of social technologies’ relevance to business. Their approach also resembles that of strategy firms in that they have relatively low evidence of social business practice.
Big Four firms are well positioned to evolve into social business consultancies because they have core competencies in business strategy and business process transformation. However, they will be challenged by their relative lack of core communications skills and awareness of “soft” social, people and behavioral knowledge.
Deloitte has been an early adopter of social business as a concept, perhaps because it did not shed its consulting practice in the early 2000s as all others did. PwC acquired boutique social business consultancy Ant’s Eye View in 2012, which shows its intention to integrate social business more deeply into its Customer Impact practice.
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[UPDATED] Marketing, advertising and public relations (MAP) agencies have comprised the largest share of the “social” advisory and execution firms for many years. Most of the other advisory firms are relative late entrants, with the exception of some Analyst and Enterprise I.T. firms. Communication forms the core of social technologies, and MAP agencies have been pivotal in leading the growth of social media activity in their clients, many of the largest brands in the world.
However, this research survey argues that, although social media will remain an important portion of the total economic value produced by using social technologies, it will devolve into a minority portion. Collaboration and pervasive innovation will be the majority, which will require enterprise business process transformation. MAP agencies lack competencies in management consulting and enterprise transformation, so they are in an ambiguous situation, being the leaders in social media, a shrinking market in the medium to long term. This report shows how agencies can navigate these rapids and how their clients might best partner with them […]
[UPDATED] Strategy firms are the most trusted names sought by CEOs and boards of directors who are reevaluating their companies’ identities, strategies and operations. Strategy firms have been making measured investments in social business over the last few years. Their knowledge of enterprise transformation is deep and broad, and they all have proprietary methodologies for most aspects of the strategy and transformation life cycle. They have deep and broad expertise in market analysis, competitive analysis corporate core competency analysis and virtually all aspects of operations. Many firms have large business transformation practices that explicitly guide clients through profound redefinition and change.
Strategy firms have extensive core competencies that could enable them to offer social business strategy services. In addition, Strategy firms are significant producers of thought leadership relevant to corporate and business strategy as well as operations. Most firms field high quality management journals whose papers are written by their consultants. Many have research boutiques or even full-fledged businesses for research and thought leadership. However, they are challenged by very conservative […]
Advisory and Services Firm Social Business Adoption 2012 is publishing as individual Executive Summaries of firm category reports. These discuss relative scores of firms in each category, but they don’t disclose scores themselves. This enables us to have some fun. You can guess the highest scores in several categories and win valuable prizes!
Contest Rules
To be eligible for 1st, 2nd or 3rd prizes, all you need do is respond to four questions via the embedded survey below. You could win an Extended Analysis report of any firm in this Research Survey, or even commission your own Extended Analysis report! For five minutes of your time.
I will award prizes two days after the last Executive Summary publishes (see the Research Survey microsite for dates). However, the first person who responds with the correct answer wins that prize. This introduces some risk for people who just wait until the end! You should also know that I reserve the right to change any of the rules or prizes without notice except on this […]
[Updated] The Social Media Upgrade applies to most consumer-oriented brands that have been outsourcing much of their social media work to agencies. In 2013, digital marketing and brand executives are thinking about building their internal teams to provide more continuity and scale.
Social Media Upgrade is the first of the five-part social business team building series The series describes team building in the context of various scenarios in which firms build social business capability, step by step, while investing wisely. Social Business Strategy Use Cases outlines and compares all five use cases while Social Business Team Building gives general guidance for how to create social business teams as well as recommendations for what characteristics leaders have, so I recommend reading them, too.
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[UPDATED] Several times over the past few years, I have been contacted by major brands to advise them on finding a “social media executive” to help them “figure out social media” and “create a strategy.” In 2012, many firms began building social media teams in earnest, and this trend will continue to grow in the years ahead. Firms are also bringing “social media work” inside after having outsourced it to agencies. All of my client work has involved helping clients to build social business competency and teams, so here I’ll offer some pointers for how to build teams and avoid the pitfalls most companies experience.
Although each organization’s culture is different, the CEO, CDO, CMO or CAO will be happier with the social business investment if s/he doesn’t invest far ahead of return on investment, which remains low at firms that insist on “business-meaningful” metrics, not the PR- or “brand-building” variety. It’s a chicken-and-egg challenge: how do you know what kind of team to build until you’re achieving real business-meaningful returns on your social business initiatives?
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Unusual strategy & management guide shows how to use social data to solve complex problems Book Review: Everything Is Obvious* Once You Know the Answer/Duncan J. Watts
Everything Is Obvious* is an excellent how-to guide to understanding how social networks change strategy, prediction and decision-making. It offers practical techniques and profound insights for using social networks, big data and new ways of thinking to solve complex problems in business and government.
Intriguingly, the book also cites research that debunks several social media sacred cows.
Watts has an interesting point of view because he combines several disciplines: he began his career as a physicist before moving into sociology, so he strives to combine the quantitative, experimental methods of physics with maddeningly complex social problems. Moreover, he’s been running practical experiments at Yahoo! for several years, using search, Web and social data. Watts backs up his assertions with primary research that he has led or in which he has participated. He is also a very engaging writer.
I also highly recommend “Obvious” because it enables […]
The social business Organization Audit serves as the second half of the due diligence process that is the foundation of the social business strategy. The first part is the ecosystem audit by which the firm has assessed the external digital world that’s relevant to its business. However, this is only half the picture: now we need to assess the firm’s capabilities to engage the ecosystem, so this is an internal analysis.
By conducting external and internal due diligence, we arrive at a social business strategy that optimizes the what the ecosystem values most highly with the firm’s ability to deliver. The social business strategy marries the ecosystem audit with the organization audit to determine optimal sharing scenarios (pilots).
The social business Organization Audit begins with a basic core competency analysis, drills down to stakeholder issues & actions and synthesizes these steps into several “trial pilots” that it will then vet through several other steps: social business good practices uses the ecosystem as a filter to learn from other firms’ similar initiatives, resource analysis gauges […]
When CSRA released the Social Network Roadmap in Q2 2008, we were a unique voice speaking at conferences about enterprise adoption. Due to my prior work helping enterprises adopt disruptive technologies like distributed computing, Web applications, service-oriented architecture and Web services, it was easy to see what enterprise adoption would look like, so I designed Social Network Roadmap several years before most of the market was ready to use it. Our client work has enabled us to test, tweak and expand the roadmap since then. As 2012 draws to a close, enterprises have experimented, adoption of social technologies (“social media”) among most stakeholders has set records, and executives wonder how they can coordinate social business across the enterprise. To realize “compounded” enterprise social business benefits it’s important to understand the social business life cycle, so here is a brief treatment.
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