Commbank leverages the values and benefits of Social Technology

Written on Friday, 16 August 2013 by Unknown

A study in McKinsey’s report identified the benefits and values associated with organizations implementing Enterprise 2.0 using the 10 Social Technology value levers (as shown below). These levers are present in multiple functional areas of the business (also known as the business value chain).

Image by Mckinsey

Last week we discussed how the Wikinomics business model principles applied to businesses using enterprise 2.0 technology such as Starbucks and StacksOverflow. Today we look at how Commonwealth Bank uses enterprise 2.0 tools to leverage the product development and customer service functions for their business.

Image by Newspaperworks

They’re SOCIAL on social media!

Like Starbucks, Commonwealth Bank (or commbank) has multiples modes of interaction between its customers and key staff members so they could achieve as much feedback and ideas for improvements on any particular product or area of service as possible. They’re connected to just about all social media channels that you could think of… from Facebook to Youtube to Google+ and their most recent, blogging.
More on Commbank’s social media strategy can be seen in this clip below.



1. Product development (Customers are the co-creators for products)


Commbank provides a livespace community forum, called IdeaBank where customers can post, vote or discuss with other customers within the community the ideas which could relate to existing products or products (or services in some cases) that they wish to see modified or developed in the future. Customers can vote on the likelihood in which they wish to see an idea come into action. This is the usual process for product development via social media interaction.



Image by Expounder with cheese

So in essence, Commbank listens to their customers and what they would like to see changed or developed and implemented.

2. Customer service

Similar to other facebook pages that you might find for businesses, Commonwealth bank sports a support community page for:

Ö        Real time search for addressing problems with customers

Ö        Community building, not just for selling their products but instead as a way for building a community-minded philosophy

Ö        As a method for interacting with bank customers about their products using this social media channel, and

Ö        Enabling transparency by allowing only key staff members, such as the bank manager, to answer questions directly to customers via a community page.

Image by Commbank So I believe that Commbank has set the bar for other major banks to up their game when it comes to providing a strong community and a customer based support network or simply by reaping the priceless benefits and values of using social technology. A big thumbs up for Commbank!

Posted in banks, blogging, blogs, business, CBA, commonwealthbank, companies, enterprise 2.0, INB346, QUT, social media, Social technology, university | 4 comments

Unlocking business values and success starts with Enterprise 2.0!

Written on Wednesday, 14 August 2013 by Unknown

Hey guys,

Back again to post this week's topic but first I want to thank those who shared my first post. May your day be showered with skittles (no not really..) ON with this week’s topic for today:

[1] STACK OVERFLOW (& Stack Exchange)

Founded in 2008, Stack Overflow (one of Stack Exchange’s network of Q&A websites) provides a question and answer open-site for professional and passionate programmers. Any user can ask or answer a question and the best answer is voted to the top similar to how top comments work on Youtube.

Peering

In relation to Stack’s website, its primary function is to collaborate with experts to the inexperienced in programming where questions about the various uses of programming are answered in a calm and collective environment. Also featured on the Stacks website is careers2.0, where job seekers can look for work involving programming nearby.

Openness

Stacks Overflow website is open for all, from the passionate to those who are new to programming. There are no visible boundaries as to who could ask or answer a question.

Sharing

On the mothership of Stacks Exchange website (or Stacks) provides newsletter subscriptions based on what the user is interested in. There are subscriptions from Arts through to Technology. This is a simple way that users can keep up to date with the latest top questions answered.

And of course the entire concept of a Q&A community is a form of sharing information. Stacks also shares a community blog with their users to discuss from a range of day-to-day topics.

Acting Global

Stacks has yet to implement a global strategic objective which will incorporate launching new sites to the Australasia region. As of November 2012, there are 105 separate sites and over 64 million unique monthly visitors and is continuously growing.

[2] STARBUCKS

Image by flickr

Yes, even Starbucks has their own twitter account to engage with the community for any queries, complaints or replying to any mentions of Starbucks, all monitored and managed by Brad Nelson. Starbucks through the use of social technology via Twitter is more than just a Q&A. The coffeehouse chain now hosts a crowdsourcing site, called My Starbucks Idea where customers are able to submit their innovative idea and have them rated by other customers. Again, let’s look at how the Wikinomics business model applies.                                          

Peering

In regards to the innovative customer idea input site, this provides a strong peered/shared environment amongst the consumer community. If I were to present an idea on that website, I would be able to receive immediate feedback from other consumers of the effectiveness of my idea.

Openness

As one of the most sought coffeehouse chain in the market, Starbucks not only sells coffee and interacts with their customers but they also have a global strategic objective of being green, giving back to thepeople via community service and ethical sourcing. Starbucks conducts their own environmental projects in order to improve their reputation for potential investors.

Sharing

Starbucks' concept of the “My Starbucks Idea” website assists staff on how to improve their products or introduce new ones.

Acting Global

Starbucks is already renowned as the largest coffeehouse company in the world, with 20,891 stores in 62 countries. Their online presence and retail reputation allows consumers to remain satisfied and loyal with their favourite coffee brand and ultimately further improves the companies’ brand image.

Sadly this is the end of Wikinomics business process model applied to real world organisations. I hope you enjoyed this week’s blog.



To learn more about the Wikinomics central concept, click here.

Posted in blogging, blogs, business, companies, enterprise, enterprise 2.0, howto, INB346, self-help, social media, university | 2 comments

The foundations of creating a successful blog via modern technology

Written on Sunday, 4 August 2013 by Unknown

Hey all,

Welcome to my first official blog post. As mentioned in my about me, this blogspace will be primarily used for all weekly topics as required by my university studies and hopefully will prolong into regular use afterwards. I will aim to have a blog posted at least once or twice a week with links to helpful articles based on the content from each weekly topic.  

Let's get started, but first..

WHY do we spend countless beginnings and endings punching into our keyboards our thoughts and feelings through blogs? Is it for bragging rights with  friends, a personal hobby of interest, or perhaps to reach out for connection through the medium of technology? To put it simply, 

Image by LadyLay

"Blogging is therefore to writing what extreme sports are to athletics: more free-form, more accident-prone, less formal, more alive. It is, in many ways, writing out loud."
Andrew Sullivan

Now that's the why we blog in modern society but today I will go through some useful tips on how to build and improve a successful blogspace.

After reading Joshua Becker's 15 Reasons I think you should blog was an eye opener of the advantages I could have just by blogging regularly. He elaborates in 15 good reasons WHY you should create a blog. Not only does he go through the "Why" of blogging but his article also extends into the purpose of blogging as well.

Q: So what are some of the best approaches to creating a successful blog?

A: Well, from a large pool of recommendations for creating successful blogs, here's a taste of what I will include in my future blogs here in the coming weeks.  

1. Define your target audience - Well this one is quite obvious. I need to know to whom I'll be writing my blogs for and who I'll be expecting to connect with.
2. Keep it simple - Having a complex blog in terms of design and content can be a huge deterrent for readers to come back to my blog. So my intentions are to keep my blog layout design simple and remove all the unnecessary gadgets that you (as the reader) won't need to use or look at.
3. Research - Not really a necessity if you have a high knowledge about your chosen blog topic but it helps if the reader would like to learn more.
4. Find your voice - Find a writing style which you are most comfortable with. If you have just started blogging like myself, this will most likely develop as we continue to blog more over time.
5. Social Media -  I highly recommend using Twitter and Facebook to help connect with readers and other bloggers, but it's important to focus on having high quality content first.

Well that's it for me this week. I hope you enjoyed this week's topic on what makes a you a successful blogger.
This is the first time I've posted a blog. Any constructive criticism or feedback is much appreciated about today's content or anything else that you can see on this page in the comment section below or via facebook, twitter or Google+ but most importantly don't forget to share/like if you found this post helpful!

Thanks for reading!

Image by flickr

To learn more on how to become a successful blogger, click here and here.
To learn more on the reasons people blog, click here.

Posted in blogging, companies, enterprise 2.0, howto, INB346, QUT, self-help, university | 2 comments

My first post. EERRRMHAHGERD

Written on Tuesday, 30 July 2013 by Unknown

Hello! And welcome to Mario Kart, I mean my blog.

Over the next three months I will be bringing you weekly blogs derived from the weekly activities provided by my university studies.

About me:

I'm a QUT student studying Corporate systems management full-time.

My favourite hobby would have to be anything to do with water or snowboarding. I have just recently came back from a two week holiday in New Zealand and had a great time there. 

Posted in first-time, new, newbie, Newblog | 0 comments