You’ve all read this breaking news:
“The Nielsen Company (Nielsen) and McKinsey & Company (McKinsey) today announced a global joint venture, NM Incite, created to help leading companies harness the power of social media intelligence to drive superior business performance. NM Incite gives companies the capabilities to better understand, value and take advantage of the rich insights made possible by social media.”
It’s about to be a historical breakthrough in business. Social Media is not only about marketing anymore. It’s about the whole value chain of any enterprise.
Let’s have a look on Porter’s value chain:
There’s not any business function that is not concerned by Social Web. If we look at support activities for instance:
- firm infrastructure: investor relations for instance are more and more influenced by online conversations. Look at Nestlé case; the bad buzz led to a break in the stock exchange
- human resource management: talents are more and more pervasive; social networks make them become hunted and hunting. Some companies decided to block access to the Internet. Problem is that with any mobile device, this containment cannot work anymore
- technology development: web-based applications, online networks, collaborative work are more and more increasing, which led to a new innovation management, for instance
- procurement: to find materials, you can google the types of products you’re looking for
Why used to be considered as a communication trick at least, or a simple media loop, at worse, is now going to a new edge: information as the fluid of the economy.
It’s both a great opportunity and a great fear:
- dramatic changes can happen inside the organization of the enterprise; your missions are impacted, the decision-chain also. You can imagine that you won’t be only evaluated as a good product manager but as a great connector in trans-departments. Suppose you’re in charge of iPod headphones: your value added can also be in how your knowledge can be used for another product, based on what people are discussing online (“I want a bathroom with iPod headphones in it“)
- in the meantime, this issue is a very old business one: how to share knowledge? Maybe social web can be this great tool which was missing:
So as it’s not about marketing only. “It’s the economy, stupid“.