“Markets are conversations” – this saying is absolutely relevant to the current times. No wonder social media nowadays is not optional for businesses anymore. Increasingly, more small and medium enterprises have been embracing social networks albeit a bit coerced by competition than willingly. However, not all of them who adopt the social business route are successful. A handful of them have found the right path, stuck to it and achieved success. That brings a valid question in our minds – how would you measure the success of the efforts in building a social business? Like the well-established SEI-CMM model, success in social business too depends on the capability and the maturity of the organisation. I came up with the Social Business Maturity Model, akin to the SEI’s CMM, but contextually aligned to social business’s focus areas and processes. This post touches upon the key aspects in assessing the efforts of the business, internally and the resulting output, externally.
Why to assess and measure the social efforts
It is evident that organisations are investing their efforts, resources, people and money into making their businesses socially successful. Irrespective of industry, size and domain, these companies have taken the social business journey. They have put in place various processes and are actively undertaking various activities towards the social initiative. There should be a way of assessing and measuring where an organisation is in the context of this social efforts and processes. Texavi’s Social Business Maturity Model(SBMM) would help you to assess how mature an organisation is in the continuum from Level 1 being an initial phase to Level 5, being the Optimising phase. The SBMM enables the small and medium businesses primarily, to understand what it takes at each phase of the Social Business journey and invest their resources and efforts accordingly.
Texavi’s Social Business Maturity Model – Overview
I thought about this SBMM framework, considering the internal and external facets of any organisation. These two perspectives are helpful to assess and analyse the resources,processes and efforts required internally to generate the desired results, externally. This SBMM framework, the levels, key focus areas and the maturity matrix are based purely on my understanding and views and I did not refer to any industry or academic source, for similarity or differences. Within each of the focus areas, the organisation’s is divided across 5 levels starting from Level1 : Start-up through to Level 5:Tune-up.
Social Business internal focus – What you can do
There is no doubt that companies have to focus on selling and marketing their products and services to improve their bottom lines. However, social businesses have to do much more than this. The focus has to shift from their products and services to enhancing their brand equity, which is a larger goal to accomplish. However this cannot be achieved overnight or with a magic wand, but done gradually. So, an organisation matures across the 5 levels in the SBMM to reach the stage where the focus is clearly on building their brand. In the same way, businesses traditionally focus on selling and advertising to their customers and they extend this behaviour to social media as well. On the social and professional networks too, companies use the tone of selling to customers. However, this needs to change to a tone of engaging people in meaningful conversations.
The key focus areas for the internal focus of the social businesses, as per the SBMM are:
- Business Focus
- Delivery platforms & channels
- Activity on social media
The following diagram illustrates these points highlighting the key focus areas for an organisation to take care of, internally:
Social Business external focus – how you do
Marketing and communications are like the face of the organisation, presenting their view to the external world. Customers and users have always been the focus of organisations traditionally. However, with social media businesses now need to extend their reach beyond the customers to followers, friends and fans on the social networks. Also, for successful social businesses, content becomes a key strategic tool. As the organisation matures in its social business approach, they move from consuming and sharing the content to curating and creating engaging content. Messaging too gradually shifts from being interruptive to highly-contextual and personalised to the users.
The key focus areas for the external focus of the social businesses, as per the SBMM are:
- Business Focus
The diagram given below presents the key focus areas that an organisation should take care of, externally:
I will try and continue my thought process on the Social Business Maturity Model in the next few posts. Also, on Texavi’s web site and White Papers, you can find more details on Texavi’s SBMM such as the Maturity Matrix and focus areas. Feel free to share your views and feedback on this post. Until next post, ciao!