[T]here are still many who are struggling to ‘sell’ social media to their executives. And as Doug Frisbie, Toyota National Marketing Manager says, “The price of inactivity is greater than the risks of anything we’d be doing in social media.” via www.socialmediaexaminer.com
This is an excellent list of 9 ways. Each of the ways is described clearly, concisely. The author Ekaterina Walter is a social media strategist at Intel. She is a part of Intel’s Social Media Center of Excellence. She knows her stuff. And she knows how to address concerns within a large corporate environment that has built a recognized and respected brand...that generates some sweet cash-flows. For the quarter ending 3/27/2010 the Intel generated $4 billion in cash from operations on gross revenues of roughly $10 billion. For art majors that's roughly 40%.
Most companies generate a little bit less than that from their operations on either the dollar or percentage basis.
These companies are interested in...cash. They are desperately interested in cash. Sure, they want to hear about Current Conversations and Data. Their Industry Peers and what they have done will have some interest for them, too. Still, too many of the executives in these cash-strapped companies may be a bit nervous about Empowering their employees. Right or wrong, good or bad, they are. Some will pay lip service. But most are wondering how to regain control of this ship and start generating those cash-flows they once did.
For companies in the enviable position of Intel, Ms. Walter has written a complete list with a complete discussion.
For everybody else, Ms. Walter's list remains awesome. One more way to this list would make it complete. That's
SHOW THEM THE MONEY. SHOW THEM THE CASH.
Show them the ROI and its sources that is possible from social media. Show them how current conversations, data, what they've learned from the mistakes of their industry peers and empowering employees can translate into positive changes in their cash-flows.
Show them how it is a sustainable, self-sustaining, resource.
Show them that most of the tools are free or ridiculously inexpensive.
Show them that joining the current conversations with customers means a closer relationship with the customer. That translates into this DATA that is immediately meaningful to them:
* lower sales and marketing expenses.
* more customer referrals
* lower customer churn
* higher sales conversion rates
Show them that empowering employees means they have a meaningful chance to boost the average 20 percent of employees that actually come to work with the intent to make a difference. Link.
What could they accomplish if 30% of their employees showed up with the intent to make a difference. A 50% boost in their operating results?
Show them that empowered employees mean:
- Earnings per share growth could be as much as 160% higher than their industry peers. *
- Return on assets could be 100% higher.
- Profitability can be 40% higher.
That will help them understand.
The language of cash-flows and these metrics is the language they speak every day. That is the DATA they discuss every day.
Speak their language.
SHOW THEM THE MONEY. SHOW THEM THE CASH.
* Page 7, The Corporate Lattice
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