Should You Care What People Have for Breakfast?
I remember the first time I heard Twitter and Facebook come up during a board meeting back in 2009. Many in the room chuckled – convinced it was just another fad or something for their kids and not for them. A quip from one of the more senior board members drove the proverbial nail into the conversation: “No one cares what you had for breakfast.”
I must have heard that exact line a thousand times in the following years. I’m sure you have, too. But today, when I walk back into those same boardrooms to talk about social media, no one’s laughing.
Social has turned everything upside down, shifting power from global enterprises to the individuals they serve. These channels have evolved to become foundational technologies for listening to the voice of the customer in real time. And they’re critical for delivering great customer experiences.
We recently partnered with HBR Analytic Services to explore the degree to which social media is impacting the world of business. The research findings tell a very powerful story about the higher purpose of social.
Click here to download the new HBR report.
The survey, which includes 600+ leaders from the world’s biggest brands, shows that customer experience is vital for business success and establishes social media as the foundation for customer experience. Furthermore, companies that embrace (and invest in) social media and customer experience exhibit stronger revenue growth and more dominant market positions.
Highlights from the new customer experience report:
- 86% of business leaders agree that customer experience is vital for success
- 75% say social media will be extremely important over the next three years
- Only 34% of companies have the tools and skills to deliver superior customer experiences
- Leading-edge companies are breaking that pattern by spending heavily on customer experience and social media
- Leaders in customer experience have more dominant market positions and post stronger revenue growth (compared to Follower and Laggard counterparts)
- Executives from Microsoft, IBM, Nestlé, and Pernod Ricard share what it takes to deliver on customer experience
eClinical Tech Executive | Advisor | Product Strategy | AI | eCOA | DHTs | Decentralized Trials | Clinical Operations
4ySo true Carlos Dominguez. To put your words into context, I had a "Breakfast Club" meetup in NJ for those of us in the #DigitalHealth space just this week. All of these folks are super active on social media and leaders on their field. Social is how even got together to do great things in person. This stuff matters and it's a big deal at Medidata Solutions too. I also feel LinkedIN is way more relevant to the B2B world than Twitter these days. https://www.linkedin.com/posts/eclinical_digitalhealth-pharma-innovation-activity-6585903951747649536-fQsW
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5yI remember when the CTO at Citibank pounded his fist on the conference room table filled with people and shouted that he would NEVER run his business-critical voice and customer phone calls over the internet. Whenever you hear a "technology person" use the word "never" you know what you are dealing with. I reminded him about his SLA (service level agreement) and that meant his carrier was already using the internet to help meet the SLA. Everyone else in the room knew I was right. I wonder what ever happened to that guy..... People also believed the internet would never replace the beloved Sunday newspaper and that you could never buy a car over the internet. There's that word "never" again.
Sales Leader, Charitable Board Member, Father
6yGreat article Carlos - I wonder if the 34% of companies that have tools to deliver superior customer are doing social care?!
Senior Software Sales Leader | Digital Transformation | Digital Commerce & Martech | 2x Adobe Platinum Club Winner
6yGreat article!
You need to be social to help get access at Exec level and be relevant but then you need to add value in the customer conversation. You only get one shot and 30 minutes if your lucky. #salesexecution SAVO Group