I remember when things were just getting started with Enterprise 2.0, then Social Business, how we were all trying to prove the business value of social technologies and even our very existence as 2.0 practitioners in the workplace. Do you remember how tough it was to justify yours to senior management? How things have changed since then ....
Fast forward to 2014, and while the conversation around measuring the business value of Social Business persists and is perhaps more relevant, the focus and intent of the questions have shifted. There is no longer a need to justify it, but rather an opportunity to evaluate the maturity of different initiatives as you progress on the Social Business journey. No one can deny the impact of social technologies at the workplace anymore -- and that’s a good thing. We have finally moved on.
Beware the Low Hanging Fruit
The dialogue has evolved, although we may at times still have the impression we are running a circus, as Carrie Young brilliantly indicated in “Social ROI = Return On Insanity.” This happens when we stop thinking outside of the box and the inertia kicks in that’s so pernicious in the business world: only measuring the low hanging fruit.
This is far too easy. Measuring the usage of social technologies at the workplace is far easier than the significant impact on the overall business outcomes. This is where the real challenge currently lies. I have advised clients all along that to measure the business value of your social business initiatives you should aim higher than the low hanging fruit for your critical business KPIs. The ones you have cared about throughout the years, perhaps decades. These provide the opportunity to truly change your business through the digital transformation.
There is also an opportunity to rethink how we approach these KPIs. In the Social Era it remains a challenge to measure emerging 21st century business models with a 20th century mentality. And that is where the circus begins...
There may be a better way. Let's explore it.
A New KPI
The main business goal of most companies is no longer to just profit per se (although still a major driver), but essentially “to delight their customers,” as Steve Denning would say. Each of us can remember very well when the last time was that we had a delightful experience as a customer, and more importantly, when we didn't. I bet our first reaction was: “Wow! What a delightful client experience. I wish I could repeat it again!"
And that's essentially what we want for our customers -- to improve their overall client experience. But in order to do that we need to aim at improving the employee experience as well, and that's when problems arise. Very few people would deny that the client experience is defined by the employee experience. Happy employees = happy customers. It's good for the business.