{"id":18343,"date":"2014-08-22T15:34:07","date_gmt":"2014-08-22T15:34:07","guid":{"rendered":"https:\/\/enterprisestrategies.com\/?p=18343"},"modified":"2015-07-30T13:37:05","modified_gmt":"2015-07-30T13:37:05","slug":"show-money-one-reason-enterprise-social-failure","status":"publish","type":"post","link":"https:\/\/enterprisestrategies.com\/2014\/08\/22\/show-money-one-reason-enterprise-social-failure\/","title":{"rendered":"Show Me The Money: One Reason For Enterprise Social Failure"},"content":{"rendered":"

Businesses are consumed with ROI, always concerned about\u00a0the profitability of any business decision or investment, and rightfully so. Though most\u00a0executives understand the benefits of enterprise social networks <\/a>(ESNs)–productivity, engagement, on and on–those are intangible advantages and challenging to quantify in ROI or similar figures. As a result, companies are struggling to justify the expenses of purchasing, investing, and driving adoption of ESNs without proof of such tools driving profits. To be fair, it is challenging to measure the impact of internal social using traditional measurements–which is why the right monetary-related goals and objectives need to be established\u00a0for ESNs<\/a>\u00a0from the beginning.<\/p>\n

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Let’s be clear, ESNs<\/a> do and will impact the bottom line.<\/h3>\n

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However, how they are measured and how companies manage their expectations often cause ESNs to fail because of missing the financial mark. Why? Three core reasons:<\/p>\n

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Enterprise Social Success Is Not (Always) Defined By Financial Results<\/h2>\n

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Companies generally talk in terms of sales figures and profit margins–not in terms of number of posts and active groups. However, the measurements\u00a0of ESNs<\/a> today don’t necessarily follow the traditional business language. Social business is still a new and emerging area, so metrics are still maturing as technology is evolving. Few dispute the positive impact ESNs have on increasing collaboration, strengthening communication, and facilitating cross-geography work, but those advantages are difficult to calculate in hard and fast numbers. For now, anecdotal evidence is often the strongest evidence of an ESNs’ financial impact, such as proof that\u00a0connections made, introductions facilitated, and information shared helps close deals, finish client deliverables, etc. As those examples become more commonplace, ways to monetize that impact will surely follow. Currently, companies that want numbers to illustrate ESN<\/a> results may have to use creative, not-always-scientific methods, such as engagement surveys or rough calculations on time saved.<\/p>\n

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\"Top<\/a>Free Download: Top 5 Reasons Enterprise Social Initiatives Fail<\/h2>\n

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In this download, you will find the following information:<\/p>\n