To demonstrate how organizations are leveraging social technologies and practices, Oracle partnered with Social Media Today and Leader Networks to survey more than 900 marketing and technology executives from organizations around the world. The results showed that transitioning to a socially enabled enterprise, also known as a social business, is a key priority for business executives. The study also highlighted the challenges organizations need to overcome to realize the potential of social technologies and practices.
During a recent panel at the Social Media Today Social Shakeup event in Atlanta, Oracle announced the results of the study, titled "The Socially Enabled Enterprise." The global survey looked at the challenges and opportunities that organizations face when integrating social technologies and practices.
Overall, the findings revealed that the transition to a socially enabled enterprise is a key priority for marketing and technology executives as they see social media playing an increasingly significant role in future business success.
Oracle defines a socially enabled enterprise or social business as an organization with social capabilities woven into the fabric of its daily business operations, from consumer marketing and sales, to customer service and research, to employee communications and collaboration.
- Becoming socially enabled is a big priority: Nearly all executives (97 percent) surveyed believe it will be important for successful organizations to transition to being socially enabled enterprises. In fact, 72 percent reported that leveraging social media will be very important for their organizations to be successful in the future.
- Larger organizations are leading the charge: Organizations with 50,000 or more employees are much further along the path to becoming social businesses. In fact, 46 percent of organizations in that 50,000+ employee category reported that they are already socially enabled, compared to nearly one-third of companies with less than 5,000 employees.
- Transition towards a social business is not expected to be easy: 43 percent of executives stated that it would take their organizations more than a year to truly leverage social throughout their businesses.
- Social plays critical role in customer care: 60 percent of respondents plan to integrate social business metrics into customer care initiatives in the next 12 months.
- Social business metrics are still in their infancy, but are expected to be more operationally focused in the future: While companies consider a wide array of social business performance metrics, currently marketing metrics (awareness, customer satisfaction, and share of voice) are the leading performance metrics, followed by lead generation and sales and new product development.
- U.S. lags in using social business insights: Organizations outside of the U.S. are significantly more likely to use social business insights for new product development and R&D: Non-U.S. at 38.6% compared to 29.5% for U.S.
"By weaving social capabilities into the fabric of their daily operations, organizations can achieve significant improvements in areas ranging from marketing and sales to customer service and employee collaboration," said Meg Bear, group vice president of Oracle Social Cloud Platform, in a news release. "As this study shows, business executives now understand that creating a socially enabled enterprise can create better customer experiences, enable more responsive internal networks and drive organizational efficiencies. This combination gives organizations of all sizes a significant competitive advantage."
Edited by Richard Carufel