How to Outperform by Managing the Social Business Risks that Slow Your Competitors
 By understanding the dirty dozen social business risks, you can make fewer mistakes than your rivals and get more done for less money, so this may be one of the most valuable posts you read this year. Having advised executives in adopting disruptive technology since the 1980s, I have learned that hidden assumptions sabotage early adopters’ investments and delay desired business outcomes. Happily, early adopters can significantly diminish social business risks by looking for them and mitigating them with agile development methodologies. CSRA’s client work has shown that using a risk mitigation approach is the most effective way to increase social business return on investment.
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 Putnam Investments has been a financial services social business pioneer for many years, so here I’ll summarize their pioneering initiatives that show that regulated financial services firms can communicate with clients and prospects in many-to-many social venues without going astray. True, it helps having a CEO that was the first CEO from a mutual funds firm on Twitter.
The point remains, imagination and inertia are preventing financial services firms from engaging with clients and prospects in digital social venues, not regulators. Here’s how it’s done.
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 The Social Channel of Value explains our era’s drivers of economic transformation and how leaders can use them to strengthen their careers, organizations and communities. Profound shifts in human beings’ means of production restructure society and business because they alter the amount of “value” human work can create as well as the type of “products” that encapsulate people’s work. Individuals and organizations that notice, observe and understand these shifts early on can improve their relevance and competitiveness. Many of those that do not respond quickly enough go down with the ship.
Since the Social Channel is so important, I have published the Social Channel Trilogy, which is summarized here. Find even more information on the Social Channel home page.
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 Social business policy (social media policy) engagements are some of the most interesting, revealing and critical engagements CSRA has done. Of course, organizations’ main motivation for creating social business policies is protecting themselves against possible legal threats caused by employee interactions online; however, a far greater threat is overemphasizing the legal threat and sabotaging employee engagement online. Well researched and crafted social business policy increases trust between the employer and employees—and among employees, leading to more appropriate online interactions, which burnish the firm’s reputation. Here, I’ll outline how you can use the process of creating the policy to manage legal exposure while increasing employees’ trust and productive social business activity.
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 The Digital Social Ecosystem Audit shows you where to interact to produce the best outcomes at the minimal cost, so it is critical to social business initiatives. CSRA launched its “Ecosystem Audit” process in 2008, and we’ve conducted them for many businesses and brands, which get to know the digital world around them in an unprecedented way. Think of the ecosystem audit as an xray of the social ecosystem. Try operating without it ;^) – but most firms do!
Here I’ll offer my insights into client outcomes as well as how we’ve evolved the process and why. You will get some practical pointers about how you can do your own.
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Social Channel Three: Using the Social Channel to Defend Native Markets and Penetrate Foreign Markets
The global Social Channel will reintroduce “home court advantage” to national brands because those that use social business to compete globally by collaborating with users will have the cultural advantage; “foreign” firms may have better product features for the money, but they will not match home brands’ cultural fluency. Personalized service and attention are culturally specific, and deep cultural fluency directly correlates to intimacy. However, brands can only develop the home court advantage by practicing social business at an advanced level. Most have a long way to go and, meanwhile, they will get hammered when they persist in competing on product features in the Productized Channel of Value.
The blade cuts both ways: the home court advantage will make exporting to emerging markets much more difficult in the years ahead. The Social Channel will raise the bar because users in all markets will increasingly expect brands to relate to them and to solicit their input and advice. Brands will have to invest significantly in developing in-market social […]
How Marketers Are Pushing the Wrong Button on Mobile
Mobile advertising is flawed because it interrupts. CMOs’ continued use of such outmoded marketing tactics isn’t pretty, like bursting market bubbles or parties at which one has stayed too long. Screen-hogging banners or tricky apps are unnecessary for those who understand the mobile experience and how to add value; however, they are very effective for alienating clients and customers. As Stan Rapp puts it, “Don’t do things to people (do things with them).” In the interest of doing mobile right, I’ll juxtapose the mobile experience with advertising to show how inappropriate much of it is before suggesting how marketers and brands can add value and avoid destroying trust.
“Everybody hates digital ads.” This is a refrain I’ve heard forever, and I have never heard anyone say that they like them. People don’t even like big screen […]
Social Channel Two: Understanding the Social Channel of Value by Examining Its Precedents
Meet the Social Channel of Value, the new arena where brands compete for user (customer, client) attention and loyalty. Product features are losing their ability to differentiate because they are copied so easily. Moreover, the Social Channel of Value will transform human decision-making, organizations and institutions because it digitizes sociality, a core human trait, and its power will dwarf the power of the product and the brand. CEOs, CMOs and CPOs have a very rare social business opportunity to harness the Social Channel ahead of competitors and remake their markets. These are strong statements, but bear with me and I think you’ll appreciate why I’ve made them.
The Social Channel is the Knowledge Economy‘s analog to the Industrial Economy’s assembly line, which led to today’s brands and mass-produced products. Where the assembly line made fabrication ten times more efficient, digital social technologies will boost human communication and sociality by an order of magnitude. The “Social Channel of Value” shows how product and service features will […]
Social Channel One: Building Post-Product Relationships with Customers is how to Build Brands
Pioneering brands are building post-product customer relationships in the social channel because they realize that product features are copied easily and serve as weak differentiators, which leads to pervasive commoditization. Moreover, people’s preferences for individualized information dealt mass media a lethal blow, and products firms will have a similar fate. Here’s why products will become extinct and how to guide your brand in building post-product customer relationships and profits.
I have predicted for years that mass customization would be the fate of “products,” and social business is bearing this out in spades, so here I’ll delve into how impersonal “products” will be rejected by customers in 5-15 years. More important, CMOs and brand stewards who appreciate this transformation will enjoy unusual advantage, and smart ones will prepare for it now. Brands that don’t get it will simply perish, and no one will even notice except their producers and vendors. Just think about the local papers and TV stations you have known.
This is Part One […]
 Recent coverage has increased my doubts in Facebook’s management team, whose failure to capitalize on its unique assets looks increasingly likely. In the Facebook As Investment trilogy, I examined Facebook through three different lenses and voiced my doubts about its management team’s ability to realize the company’s fantastic potential. Many of CSRA’s clients have invested significantly in Facebook presences, and I am not predicting the site’s demise, but I question its long-term viability. Brands face two types of immediate risk: erratic technology/functionality changes to “add value” with features—and lack of innovation due to management team paralysis. Facebook Page owners and individual users may be inconvenienced, but nothing drastic will happen right away. As a related issue, Facebook’s experience may presage a Web 2.0 startup bubble bursting. After a summary of danger signs, I’ll recommend how you can minimize your inconvenience due to Facebook’s gyrations.
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