The social business equation

There’s a lot of chatter (pun) about Salesforce, Dreamforce and Benioff’s vision of the ‘connected enterprise’. Most of the themes emerging which have been discussed before are how trust will drive the new social economy. An interesting article from Ray at Constellation states that there are 5 simple rules for the social/ connected enterprise:

  1. Trust is the new social currency. Trust drives influence, engagement, and relationships.
  2. Social is a cultural shift. Social is not a fad.
  3. Building community is the goal. People and organizations seek a sense of belonging.
  4. P2P is today’s reality. B2B and B2C are dead.
  5. Social business is just good business. Business cannot be conducted without relationships. Social business will be omniscient.

What’s missing to drive this paradigm is the transparency of the engagement and connection. Living in a cynical world you’ll begin to question just why businesses are being friendly and socialising with you. It’s at that critical point that the transparency of the connection and engagement is perhaps the most important factor in the equation, we are now simply beyond handing over our details blindly. We know Big Data is around the corner and will drive analytics to phenomenal levels of intrusion if we let it.Business is no longer just about selling, it creates a connection with people that goes several levels deeper than we’ve been before. And in order to earn that trust that Ray talks about as the social currency of the new world, social business and the connected enterprise need to be transparent about how they want to connect with us, why they want to engage with us, and what will happen when we hand over our hard earned trust.

Transparency is the new currency. Trust is the bill we’ll just be paying for.

Originally posted on BPMRedux and only lightly edited.

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Categories: Social / Collaboration

Author:Theo Priestley

"I had more creative ideas from Theo in 6 months than I have had in 6 years from most people." Theo Priestley is one of the most recognised independent technology industry influencers and evangelists, ranking in the Top 100 thought leaders across Virtual/ Augmented Reality, FinTech, Artificial Intelligence, Big Data, Internet of Things and future trends. Theo has written insights for Forbes, Wired, The European Magazine, Venturebeat to name a few, and has been interviewed for many online publications including the BBC on his thoughts on technology and the future. A regular paid keynote speaker and panelist at conferences and events, Theo is engaged for his forthright views and isn't afraid to challenge conventional thinking and the marketing hype surrounding the industry when presenting, never pulling punches to get the message across on how technology can be applied to improve business and the customer experience. He has also successfully organised and run TEDx and Ignite events. Highly active across social networks, he sits in the Top 1% for social media engagement on Kred and Klout and is constantly sharing articles and his analysis that he feels his audience would be interested in. Theo is also active in the startup community, mentoring within UK and US accelerators and sits on a number of advisory boards. Former VP and Chief Technology Evangelist at a Top 25 European enterprise software company with a career spanning both innovation strategy and delivery of software and business change in Financial Services, and as an independent technology industry analyst. Follow Theo on Twitter @tprstly or connect here directly for constant insights on tech and marketing trends. • Top 1% Influencer on Kred (915) • Top 1% Influencer on Klout (70+) • 12,000+ Followers on LinkedIn • 13,000+ Followers on Twitter • Recognised Top Influencer in AI, Virtual/ Augmented Reality, Fintech, IOT and Wearable Tech, Big Data and Analytics.

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3 Comments on “The social business equation”

  1. September 27, 2012 at 3:18 am #

    Here’s another social business equation. Think about your blog or your company’s blog. If you look at all the posts there should be the following balance:

    20% information – 20% entertainment – 40% interaction and ONLY 20% business.

    Too many blogs are 100% business, which is why they are “one visit wonders”.

Trackbacks/Pingbacks

  1. Are you ready for the Quantified Enterprise ? | Successful Workplace - March 18, 2013

    […] September I wrote an article about The Social Business Equation. In it I explained how trust and transparency will likely be the new currency in this connected […]

  2. How will you measure up to a Quantified Enterprise ? | IT :: redux - April 12, 2013

    […] September I wrote an article about The Social Business Equation. In it I explained how trust and transparency will likely be the new currency in this connected […]

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