Measurement & Analysis Of Social Media Initiatives Professor - - PowerPoint PPT Presentation

Jason Doran Narayanan Venkitaramanan Aman Naithani

Dan Choi Christie Ghetian

Mehrzad Neville Kootar Smita Katakwar Dhruvil Sanghvi

Measurement & Analysis

Of

Social Media Initiatives

Professor Ari Lightman

Client Situation

Research and Analysis Possible Solutions Next Steps

Our Client is a Large Organization

• Credit Suisse is 150th Largest Company in

the world

• Our client is the Technology Business

Partner, Investment Banking (TBP-IB) group within Technology Infrastructure Services (TIS)

• TIS is the largest IT group in the company

Client Situation

Research and Analysis Possible Solutions Next Steps

Project Mission is to improve

Awareness and Engagement

Client Situation

Research and Analysis Possible Solutions Next Steps

Client Seeks to Build Awareness With Customers and Engage Colleagues

Workforce Collaboration Partner Engagement Leadership Culture

Brand and Promote Products to internal and external customers

Engagement Awareness

Client Situation

Research and Analysis Possible Solutions Next Steps

Existing Communication Channels

Existing Communication Internal to TIS & TBP-IB

Sharepoint Confluence Email & IM Townhall & Meetings

External to TIS & TBP-IB

Help Exchange Sharepoint Email & IM Meetings & Presentation

Client Situation

Research and Analysis Possible Solutions Next Steps

Nature of problem

Finance Industry: A laggard in Social Media

Research and Analysis Client Situation Possible Solutions Next Steps

Regulatory Compliance is A Primary Concern Internally and Adoption Hurdle

• Regulations surrounding communications
• f Financial Services firms are stringent.

–SEC –FINRA

• Corporate policies will have to be

developed to allow for approved use of social media tools.

Research and Analysis Client Situation Possible Solutions Next Steps

Researchand Analysis

Current State and organizations approach towards internal social media

Research and Analysis Client Situation Possible Solutions Next Steps

Research and Analysis Client Situation

Possible Solutions Next Steps

Using Social Media Inside the Enterprise is An Emerging Idea

Research and Analysis Client Situation

Possible Solutions Next Steps

There Are Multiple Potential Benefits to Using Social Media Inside the Enterprise

Empowering Employees with Information Product, Services, and Policy Innovation Facilitating Communication Along Corporate Hierarchy Rewarding and Identifying Star Performers

Productivity Ownership / Self-initiatives

We Are Contemplating Possible Solution Design to Recommend

Research and Analysis and Analysis Client Situation Next Steps Possible Solutions

Client’s Strategic Objectives Possible Web 2.0 Tools Available Solutions Employee Engagement Blogs, e-newsletters, Groups, Town hall extension, Direct messaging Employee Collaboration Online discussion forums, Resource sharing platforms , crowd Sourcing Customer Engagement & Collaboration Communities, Groups, Analytics, Video casting, Voice Blogs

Research and Analysis Client Situation

Possible Solutions Next Steps

Next Steps: Visiting Client Office to

Interview Key Stakeholders

Step 1 Visit the company’s New York City

• ffice and survey various

stakeholders. Step 2 Analyze existing communication tools and their performance monitoring tools already used by the client.

Research and Analysis Client Situation

Possible Solutions Next Steps

Next Steps cont’d: Find Tools that Fit

Client Needs

Step 3 Review enterprise 2.0 social media tools to meet needs of Credit Suisse

Research and Analysis Client Situation

Possible Solutions Next Steps

Next Steps cont’d.: Develop Internal

Social Media Adoption Strategy

Step 4 Suggest a framework to overcome implementation barriers in heavily regulated client environment Step 5 Suggest Strategies to enable adoption

• f existing social media tools

Step 6 Plan for a staged rollout according to priority of objectives

(engagement/collaboration)

Appendix: Harrah's case study

Challenge To double the size of business and employ 700 new employees. Employee unity and communication should improve. Goals

• Create a fun environment that celebrated the dealers (employees) energy giving

them training at the same time.

• a high-touch, high-innovation approach to reach employees

Outputs

• foster feedback mechanisms
• conduct group competitions (similar to “American Idol”) online
• new activation model for employee feedback and participation
• building cultural awareness and pride
• Build an online community to unite the population
• present the voices of employees, supervisors, and customers.
• Increase scores on the Employee Opinion Survey and Supervisor Feedback Survey

Appendix: Best Buy Case study

• Employees share knowledge and Best Practice

By contributing in discussion and answering questions they feel valued and gain a sense of

fulfillment.

• Develop Strong support system

Employees share their frustration about having a bad day or the challenge of dealing with a demanding customer. Peers respond with encouragement and suggestions to cope with

• Reduce Attrition rate

Employees who actively participate in the social network are nearly 50% less likely to leave

the company.

• Encourage employee to participate in HR initiatives

In an attempt to increase employee participation in their 401K program, Best Buy used the

social network to promote a video contest about retirement. These video clips generated a lot of interest and enrollment in the retirement program increased 30%.

Reference http://www.davidzinger.com/a-best-buy-employee-engagement-and-social-media-7454/ http://www.customerthink.com/blog/best_buy_social_networks_employee_engage

Appendix: AT&T Case Study

AT&T used a multi Stage social media Strategy to improve employee engagement ,

to leverage crowdsourcing for innovative ideas and use social network to reach new potential hires.

• Stage#1 Launch of tSpace 1.0—let’s connect

The first step was to bring in all of the stakeholders Know your organization and find the right fit Collect data to predict success of internal social media

• Stage#2 CrowdSourcing - Launch of The Innovation Pipeline

There are rewards and incentives for employees to share innovative ideas.

• Stage#3 Outreach – Launch of “Work with me”

A Social recruiting platform.

Ref: www.socialmedia.org/blog/att-building-a-social-media-policy-live-from-blogwell/

Appendix: IBM Case Study

17,000 Inside Blogs (employees use internal blogs) IBMers use tools such as Twitter and LinkedIn for external activity, but take advantage of mostly IBM tools inside the company. Internally, 100,000 employees have registered on the blogging platform to rate and comment on posts across 17,000 blogs. The Wisdom of Crowds (Don’t Worry Boss, the employees will self-regulate) Christensen ties IBM’s social media explosion to company “jams.” In 2003, IBM conducted its first jam, not unlike a band jam, bringing employees together in an online forum for three straight days. “It was a big, online collaborative experiment,” Christensen said. “The first 8 to 10 hours, it was very negative. Over the next 12 hours, the conversation completely changed to being very constructive. By the way, there was no intervention by corporate to say, ‘Hey guys, let’s be more constructive.’ It was completely employee-led.” “We realized we could trust employees to engage. Employees realized, ‘if we’re within reason, we’re going to be trusted’.” A couple of months later, IBM opened blogging platforms inside the company. IBM now includes much bigger and more diverse crowds—as many as 500,000 people in some cases. An innovation jam in 2006 brought together employees—and friends, family and clients—to discuss more than 50 research projects within the company. From there, they voted on the 10 best, which became incubator businesses that IBM funded with $100 million, all based on “crowd” discussion.

Source: http://www.socialmediaexaminer.com/how-ibm-uses-social-media-to-spur-employee-innovation/

Appendix: Tools available in market

Appendix: Tools available in market

Appendix: TIS Employee Groups

Infrastructure Architecture Defines and delivers the target infrastructure. Architects are responsible for defining detailed roadmaps for each product and service within their technical domain to take advantage of new technologies. Global Products and Services Manages all products and platforms such as desktop, network and database. Product managers ensure their product design is aligned to business and regulatory

• requirements. They also manage expenses for each product/platform, and service

and operational-level agreements. Global Production Control Plays a critical role that impacts almost every Credit Suisse staff member. This team monitors the health and the security of IT systems and escalates issues, performs batch and print operations and manages Incident-problem and change management

• processes. working with application development and infrastructure support.

Appendix: TIS Employee Groups

Technology Business Partners (TBP) Works closely with clients across the Application Development teams and the business units. The team gathers requirements from clients and acts as a trusted and dependable partner. TBP staff is responsible for ensuring product delivery and soliciting feedback from clients. Regional Deploy Operate Deploys new infrastructure across all technical domains. The team builds new servers and databases, provides day-to-day operational support, and works with clients from the application development groups. This team’s focus is to ensure each platform is stable and downtime is kept to a minimum while supporting the rollout

• f new applications.

Chief Operating Office The TIS Chief Operating Office (COO) team develops the overall TIS strategy and implements broad organizational transformations. This department is also responsible for TIS finances and liaising with the HR Department and IT Risk Team.