Social business is evolving, with a shift in focus from Return on Investment (ROI) towards a new Key Performance Indicator (KPI) – client experience. This shift is driven by the fact that businesses are realising that the value of social interactions cannot be measured in monetary terms alone. Instead, the quality of these interactions and the client experience they provide is becoming the new measure of success.
The concept of ‘Socially Integrated Enterprises’ is emerging, where businesses are built around social networks and interactions. These enterprises prioritise client experience, with the belief that positive experiences lead to increased loyalty, advocacy and ultimately, business growth.
To achieve this, businesses must create an environment that fosters trust, enabling clients to become active participants in their business networks. This involves a shift away from traditional business models, towards a more open and transparent approach.
The new KPI, client experience, is challenging to measure. However, it is believed that the future of social business lies in finding ways to quantify this experience, with businesses that succeed in doing so standing to gain a significant competitive advantage.
In essence, the future of social business is not about the money, but about the experience. The businesses that understand this and adapt accordingly will be the ones that thrive in the new era of social business.
Go to source article: http://www.elsua.net/2014/05/21/how-the-client-experience-defines-the-new-roi-of-social-business-finally-a-new-kpi-in-the-making/