Archive for September, 2011

Enterprise Strategies – Microblogging

In previous posts I have discussed blogging and its strategies, though these mainly revolved around personal productivity and online presence. In this blog post, we will discuss the implementation of microblogging in the sense of using it as a strategy in the corporate domain, for the betterment of promotion and keeping the general public at bay with upcoming organisation topics.

What is microblogging?

Microblogging is defined as a being a “broadcast medium in the form of blogging that is different form a traditional blog in that its content is typically smaller in both actual and aggregate file size. It allows user to exchange small elements of content such as short sentences, individual images or video links.” Wikipedia

Whilst there are a number of articles and organisations that promote their own strategies for microblogging I will attempt to outline some simple microblogging strategies for International Geological Congress (IGC). Two great microblogging tools that will be as part of the strategy are FriendFeed and Twitter.

What is the IGC?

IGC stands for International Geological Congress. It is the leading global forum for the Earth sciences. The 34th IGC is to be held in Brisbane, Australia in August 2012, which is to be hosted by the Australian Geoscience Council(AGC). The IGC is the major multi-disciplinary global event for reporting on and discussing the latest geoscientific research, applications and international cooperation.

With the expected turn out projected to be around the 3000-5000 mark, there needs to be at least 6000-7000 to cover the expenditure. In preparation for such a sizable event, there are many challenges the AGC have to overcome and identify for this event to become a success. The biggest challenge of this event is creating a greater interest and promotion for this event. The first step is to create a broader awareness of the event and then promote it is through a social media driver, this is seen as a vehicle that will help to achieve this objective.

The Strategy!

One of the biggest contributions that microblogging provides to events such as the IGC is it has the possibility of detailing live updates to its followers as they unfold. This combined with other great tools such Google maps enhances the user experience and gives them up to date information to follow.

Another great method to gain followers and maintain interest is by setting up promotions and providing links to relevant information and websites, videos and other blog posts that are relevant to the delegates attending the IGC. This will attract people who are interested in geoscience to the AGC twitter, where the users will learn more about who the AGC are and what the IGC is.

Though through the use of twitter as a main microblogging strategy how much you get out of it will depend on how much work is being put in. It is therefore important to consider the appropriate information posted and make sure it is relevant, engaging and provide latest news updates for the event, any changes and promotions.

Final Verdict

 Through the integration of microblogging and other social media networks such as twitter, the AGC will be able to interact and connect with the broader community as well as the delegates that will participate in this event. As the use of microblogging is growing daily, it has the possibility to generate interest and awareness, which can greatly increase the number of delegates that are attending.

 

References

34th IGC. (2011). 34th International Geological Congress Organising Committee. Retrieved September 28, 2011

34th IGC. (2011). Relationship Between the International Geological Congress (IGC) and the International Union of Geological Sciences (IUGS). Retrieved September 28, 2011
MarketingTechBlog. (2011). Corporate Blogging Strategies. Retrieved September 28, 2011
Web2Practice. (2010). Microblogging. Retrieved September 28, 2011

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Return on Investment with Enterprise 2.0

Return of Investment (ROI) is a way of considering and measuring profits in relation to investment. ROI may be suited for some areas of business, but in terms of measuring the implementation Enterprise 2.0 this form of analysis is neither as accurate or straight forward to use, compared to measuring conventional solutions.

Return of Investment is used by organisations to calculate potential losses or gains before a project is started, implemented or major financial decision is made. ROI comes from the activity and the actual collaboration of its users, not from the technologies themselves.

Over the past few years, many companies and organisations have spent a large amount of time and money to try and identify and perfect a “ROI Model” in terms of Social Media. These include Wikis, Blogs, Micro-blogs and other Social Media’s. The problem arises, as there is no real definitive way to create a ROI equation for the implementation of Enterprise 2.0 tools. How does one go about measuring the effects of better organisation, increased productivity and less email overhead?

How do we measure it?

How are they going to measure it though? Well first it is important know what exactly you want to achieve. With this, an appropriate formula can be used to calculate the ROI. There are several different formulas, all of which measure difference aspects.

1.ROI = (revenue – investment) + targeted engagement (new clients) / investment * 100.
This will establish new leads attained from the project, though however can be used in measuring conventional advertisement campaigns as well as social media sources.

2.ROI = (revenue – investment) + employee retention / investment * 100. 

With employees, profitability and productivity will increase and means employees are less likely to leave. This can be compared against how much it would cost to train a new employee.

3. ROI = (revenue – investment) + customer engagement and idea generation / investment * 100.

Engaging customers build customer loyalty and brand awareness. It also makes customers feel they are more connected and that they are dealing with real people.

Below are some concepts that can help demonstrate the benefits and ROI within Enterprise 2.0 Technologies, and some of the ways and difficulties of measuring them:

ROI Breakdown

1. Increased Employee Engagement.

We’ve talked about Employee Engagement in my previous post Benefits and Risks of Enterprise 2.0. Enterprise 2.0 technologies bring the staff together and get them involved in something much larger than themselves. It leads to better internal communication with in the company, and with it also comes a more effective learning and deployment environment due to bringing such fast amounts of technology together.

How to measure: though surveys which most companies already conduct anyway.

2. Turnover

Social media in the workplace helps new employees adapt into the workforce a quicker rate as opposed to workplaces with no enterprise 2.0 technologies. Employees are also more likely to stick around a workplace, which takes advantage of enterprise software. An employee turnover is estimated at 100%-150% of the annual salary and reducing the amount of turnovers even by 1% in a larger company can save millions.

This is measured by observing the amount of turnover before and after the implementation of the enterprise 2.0 software.

3. Organisation Agility:

Organisation Agility is the idea of self-actualisation, and includes being able to see changes in markets faster, shifting resources in response to new opportunities and needs, and moving on from initiatives such as programs, markets and products that no longer work or are failing; The ideology of a company being more “Agile”.

ROI in Enterprise 2.0 is a hard thing to measure, though when organisations set out goals of what they wish to achieve, how to reach those goals, and ways to measure those goals, they can create models to suit their own company to help justify the use of Enterprise 2.0 tools, and calculate the Return of Investment.

I would like to end with a great Slideshow on the ROI of social media

References

Carpenter, Hutch. (2010). Retrieved September 10, 2011 from Maslow’s Hierarchy of Enterprise 2.0 ROI.
Kim, Aaron. (2011). Retrieved September 10, 2011 from ROI 2.0, Part 3: We don’t need a Social Media ROI model.
Hinchcliffe, D. (2009). Retrieved September 10, 2011 from Determining the ROI of Enterprise 2.0.
McCarnan, Jacquie. (2011). Retrieved September 11, 2011 from Social Media ROI for Idiots.
Wikipedia. (2011). Retrieved September 10, 2011 from Return on Investment.

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