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Highly networked organizations gain market share faster

Now that kind of sentence should grab your attention! It did at least for me when I read a report at the end of last year saying that there is a correlation between increased market share and the socially networked organization.

The McKinsey report ”The use of web 2.0 in business” from December 2010 analyzes a survey conducted by the same consultancy that shows that companies who use the web intensively gain greater market share and higher margins. What does this exactly mean?

I think that most executives do not need to be convinced anymore that organizations who use social networking and collaboration tools inside the organization will benefit from this. For example, people have quicker access to information, collaborating on projects is easier and the companies may even save money by replacing outdated and expensive legacy systems.

The real benefit however is in connecting with the outside world. McKinsey found that the companies who gain the biggest increases in market share and profit margins are those that have solutions in place that enable workers to collaborate with customers and partners more effectively.

For example the ability to make decisions lower in the organizational hierarchy and a willingness to form teams that comprise both in-house and external workers allow organizations to become more agile. Now I know what you are thinking: but we are doing this already to some extend! I sure hope so, but managing these relationships with the appropriate tool for a specific need seems to be done by an elite crop of organizations. Only 3% out of more than 3000 interviewed executives across different industries and regions are using both internal and external web 2.0 tools to create a truly networked organization.

In our customer conversations the number one question is: “Can I safely manage collaboration and its related sensitive information with colleagues and partners in one workspace?” It seems that companies have come to realize that the only way to implement innovation is by actively engaging customers/partners and sharing information openly. Access to the right people and knowledge at the right time is therefore crucial and those companies that really understand the business value of collaborating and innovating are the ones that are the most competitive.

And of course the answer is: “Yes you can!”

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Aiheet

  • Yritystoimi, yleinen

Kategoriat

  • customer collaboration
  • enterprise 2.0
  • enterprise social networking
  • innovation
  • online collaboration
  • partner collaboration
  • project management
  • social gaming
  • social media
  • staff productivity
  • team collaboration

Yhteyshenkilöt

Bart Schrooten

Lehdistön yhteyshenkilö Co-founder Marketing and Sales +358 400 5454 87

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