Guide to invest in social technology and transform your business

Guide to invest in social technology and transform your business

If you are interested in this post, it is because you believe in the power technology to modernize a company, but you also are aware that, before hiring a tool, like a management software, you must know their benefits and encourage all the team to use it properly. Therefore, based on the most recent global report of McKinsey on the impact of technology to improve social interaction in the workplace, I summed up the main points you need to know to accomplish your mission. And for you to see you are on the right track, I highlight that 62% of more than 1,400 respondents whose companies use tools for this purpose said they noticed a considerable improvement in the workflow. The improvement in competitive intelligence and developing customer insights. Now check out the benefits of social technology and how to integrate it into the routine of your company:

 

1. The 4 greatest benefits of using social technology

In a survey with nearly 600 respondents to discover the advantages of tools that facilitate social interaction, it was revealed that its use:
• Increases speed to access knowledge (66%);
• Reduces communication costs (60%);
• Reduces travel costs (49%);
• Increases satisfaction of suppliers and partners (45%);

If your team loses a lot of time searching for data in emails and folders, you are losing a lot of money that could be saved with a social tool. As well as if displacement of your employees and travels contribute to your monthly expenses.

 

2. Where technology is better suited

The six processes where social technology is better integrated into the day-to-day business, according to respondents, are:
• Development of marketing plans (57%);
• Execution of marketing activities (55%);
• Sales and sales-force management (53%);
• Customer relationship management (53%);
• IT management (51%);
• After-sales services and customer support (47%).

As you can see, almost all areas of a company take advantage with use of social technology, which indicates that other departments, such as Finance, Legal and HR, have great chances of taking it too.

 

3. But is it worth investing in it?

Studies led between 2013 and 2014 show a growing expectation to invest more in social technology in order to improve workflow in their companies:
• In 2013, 58% of executives expected to invest in social technology in the next three years. In 2014, this number grew to 72%.
• Furthermore, it dropped from 25% to 18% the number of executives who did not intend to make any new investments.

In other words, this means that if your company does not make that decision too, it can be left behind. I doubt you even think of this possibility. So, here are three steps to adopt a tool and modernize your business successfully.

 

How to transform your business with social technology

A) Test with a team and then expand

Although the adoption of social tools is widespread, results indicate that most companies use them intensely in only a few processes. However, the success of this technology in departments such as Sales and Marketing suggests that there is much potential to be taken, by broaden its impact to other areas of the company. Thus, there will be what you know as “workflow”.

B) Compare metrics

To make the most of the investments in a social tool, you must understand where and how it can make a difference in the company in the future. The recommendation of McKinsey researchers is to measure the impact of technologies already in use. A good way to do this is to compare the performance numbers between areas using and not using, and check if there was an increase in productivity since the adoption of the tool.

C) Change the way people work

Executives are more optimistic than in previous years and also more willing to invest in social tools for rely more on the value they can add to their business. Once you start to use them, the enthusiasm around technology is clear, but companies need time to engage all employees and guide them to the best practices. Only then there will be real improvements in productivity and, therefore, in profitability.

 

Have you heard of Runrun.it, the time, tasks and performance management software? This social interaction tool make your company up to 25% more productive. Try it for free and have a great day of work: http://runrun.it

 

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