Comments
What Is the Business Value of Social Networking?
Newest First  |  Oldest First  |  Threaded View
JohnTran
50%
50%
JohnTran,
User Rank: Apprentice
7/22/2014 | 9:55:25 AM
Business Value
The big value of social networking deployed in business environment is that it increase business innovation in many aspects:  customer service, quality improvement and technology trasformation.
Byurcan
100%
0%
Byurcan,
User Rank: Author
7/17/2014 | 9:35:48 AM
Good article
Thanks for this David. You make some good points. Social media is often derided, and in many cases rightfully so, as just being a platform for the vain to display what dinner they eat, but social media platforms have great potential for internal collaborative uses, as you illustrate.
KBurger
100%
0%
KBurger,
User Rank: Author
7/16/2014 | 4:09:45 PM
Re: The value of social networking
Good point, thanks for that feedback.
davidnsaul
100%
0%
davidnsaul,
User Rank: Strategist
7/16/2014 | 3:13:33 PM
Re: The value of social networking
Kathy,

What you are doing with your web site redesign embodies some of the same collaborative communications benefits that we are seeing with our program.  I moderate a Chief Scientist community where people can share and react to new ideas.  You are doing the same thing on a broader scale.

Regards,

David

 
Kelly22
50%
50%
Kelly22,
User Rank: Author
7/16/2014 | 2:56:22 PM
Re: The value of social
Agreed - David, this is a great overview of how social networking can be successfully leveraged throughout a business. Financial services companies have been slower in adopting social, so I thought it was smart to consult companies in other industries to learn the pitfalls that may accompany social adoption. Looks like that proved useful in your overall strategy. 
KBurger
100%
0%
KBurger,
User Rank: Author
7/16/2014 | 2:31:02 PM
The value of social
Thanks for this, David, tons of really useful and applicable information here. The fact that State Street is having this degree of success underscores your point that social media is not just about teenagers, or even just about consumers -- there clearly are tremendous opportunities in the B2B space, involving corporate clients and also within the enterprise. You touched on some of the data integration/data management issues, I would imagine as Chief Scientist that is something you are analyzing very thoroughly. It seems like that's where there's potentially the greatest opportunity for banks (and other businesses) but also potentially the greatest risks, if it's not handled the right way.


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.