How to Tell If You’re Just Dabbling with Digital

Digital transformation is hot — in a new Altimeter Report, “The State of Digital Transformation”, we found that 88% of organizations we surveyed said that they were undergoing a formal digital transformation effort, which Altimeter defines as “the re-alignment of, or new investment in, technology and business models to more effectively engage digital consumers at every touchpoint in the customer experience lifecycle.”

But the research found that only 25% had mapped their out the customer journey, while another 12% were in the process of a mapping effort and were awaiting results. What was striking was that 42% of respondents said that while they were not officially researching the digital customer journey they had made efforts to update those digital touch points with new social and mobile investments and initiatives. [Read more...]

Help with My New Report: Employee Engagement & Advocacy

Businessman holding paperI’m passionate about Open Leadership, and the imperative to be open, authentic and transparent in the way we lead. This is all the more important when looking at how to engage employees, and tapping them for the bright shiny object de jour “employee advocacy”.

To that end, my colleague Jon Cifuentes and I are working on a new Altimeter report on how companies create holistic strategies that increase internal employee engagement and external employee advocacy. The report looks at the fundamental disconnect between organizations wanting active and engaged employees and the actual execution of employee collaboration, engagement, and advocacy efforts. [Read more...]

The Twitter IPO: Some Initial Analysis

Twitter just tweeted that it has filed a confidential S-1, with the appropriate disclaimer. Here are a few reasons why this filing and IPO warrant close scrutiny.

  • Twitter is the last of the Big Four to go public. In the social networking ecosystem, Twitter is seen as a must have in terms of a social strategy, and is the only major player left that is still up for grabs — YouTube (owned by Google), LinkedIn (IPO), and Facebook (IPO) are all spoken for. Other upstarts like Pinterest are just getting started so Twitter is going to be the talk of the town into 2014, which is the earliest the IPO can be expected. There will be a certain “last call” mentality to the Twitter IPO that wasn’t there for Facebook.
  • Confidential filing gives Twitter control. Twitter took advantage of the JOBS Act pass last year, which allows firms with less than $1 billion in revenue to file an S-1 confidentially. This means that unlike Facebook, Twitter won’t be subjected to a microscopic dissection of every word of its filing. This is a good thing, because Twitter’s business model isn’t the easiest to explain. As Twitter begins the roadshow, they’ll be able to roll out their story to investors in a systematic, orderly way that enables them to tell their growth story to the world.
  • Timing and Friends benefit Twitter. Twitter should be saying a big “Thank You” to Facebook for carving out the path before them. Facebook has spent the past year educating the market about social media advertising, doing much of the heavy lifting and laying out the red carpet for Twitter.
  • Challenge: Twitter’s Advertising Model. The biggest challenge that Twitter has is that its main form of revenue comes from “sponsored tweets” which is a form of native advertising (see Altimeter’s just-published report on Native Advertising). The problem with these sponsored tweets is that they are not, at present, a standard ad format that can travel outside the Twitter platform. That makes ad buying — and scaling to media buyers — more difficult.
  • Discipline to Stick to the Business. The tweet that Twitter posted one minute after the “filing” one shows everyone at the computers with the next, Now, back to work.” The company has been preparing for this day, and realize that it’s a long, long slog for the next approximately six months before the actual IPO. The team will need discipline to focus on the work, rather than pulling out spreadsheets to calculate their potential net worth. Not an easy thing to do!

These are still early days, and I anticipate that we’ll learn a lot more about Twitter’s business over the next few weeks and months. I, for one, am eager to not just see the numbers, but also to hear their story. Because as one of the four foundational platforms of the social space, they have the ability to shape the future as they envision it unfolding. And the vision that Twitter CEO Dick Costello and his team roll out is sure to be interesting.

New Book: The Seven Success Factors of Social Business Strategy

I’m very proud to announce the publication of an eBook that I co-authored with Brian Solis, entitled “The Seven Success Factors of Social Business Strategy“.

Based on research as well as real-world experience with our clients, Brian and I found that there are common characteristics of successful social business strategies, the most important one being a laser focus on achieving business goals. In fact, the most successful businesses are those with an executive who can articulate the vision and strategy roadmap almost as well as the social strategist. [Read more...]

How To Create A Successful Social Business

Are you a social business? By this, I mean are you aligning your social strategy to business goals? In a new Altimeter Group Report, “The Evolution of Social Business“, my co-author Brian Solis and I found that this was not the case. Only 34% of businesses we surveyed felt that their social strategy was connected to business outcomes. Brian goes into detail about our findings in this post.

Our research found that organizations typically go through six stages of social business evolution. But this doesn’t mean that you have to wait until Stage 6 to realize business impact. Rather, it’s not only possible but crucial to focus on achieving business results right from the very beginning. The six stages are as follows (for a deeper dive into each, please download the report):

[Read more...]