Challenge Issued to Enterprise 2.0 Community
Social media has long struggled to prove that it is beneficial to the bottom line. This is especially true when social media is employed to communicate and engage with customers, with marketers often measuring superficial things such as the number of followers or fans rather than things that make a financial difference to their employer.
It is however just as problematic when social media is used within organizations in a bid to make those organizations function better. This lack of clear ROI underpins recent research revealing that just 13% of internal social networks are deemed a success.
A group called Disillusion 2.0 have challenged the enterprise 2.0 (or social business) community to prove their metal. They have issued a $2000 challenge to organizations to show that social media used within the organization can deliver return on investment. The group believe that E2.0 merely consumes both time and resources.
The Challenge: Provide the best case of Enterprise 2.0 that has resulted in a measurable ROI and win $2,000 USD.
- Contestants must provide a valid ROI determined by the business standard of the following equation - ROI (percent of return on investment) = net profit ($) / investment ($) x 100
- Minimum project size must be greater than 500 people with a project cost greater than $100,000.
- Project must have been implemented for one year or longer and ROI must be positive.
- The winning ROI (if there is one) is to be confirmed by the Disillusion 2.0 sponsors.
The closing date for the competition is January 31st, and entries can be made on the organizations website.
For those that are struggling to see returns from their social business efforts, research published recently by Deloitte may help, as it provided clear links between high level business objectives and social business objectives.