Social networks are radically changing the way we do business and are a new ecosystem of influence. They are virally creating communities within communities that are driving brand recognition and experience, product innovation and everything else associated with communications. Social networks facilitate and automate vast interactions, connections and networks of people by enabling collaboration with colleagues, clients and suppliers anywhere and at any time. This new ecosystem almost completely eliminates the need for travel, and incorporates a rich suite of evolving Web 2.0 applications. Most importantly, however, within this new ecosystem there are individual influencer ecosystems with their own dynamics interrelationships, characteristics and influence models.
The Global Bazaar
The impact of these far-reaching social networks on business is becoming clearer every day as millions of consumers, partners, suppliers and businesses discuss and share their brand experience. Enter the new business to person (B2P) paradigm. Mohan Sawhney, author of The Global Brain reinforces this in his book, “social customers are driving innovation, they are empowered and collaborative, they are the drivers and initiators of innovation and are increasingly viewed as a strategic asset to companies. Today’s customer is looking for a personalized experience and relationship, demanding solutions rather than products,” in what he calls the global Bazaar.
As a former marine biologist I am often intrigued by how often ecological terms are used to describe business. The term symbiosis is often used to describe a business process, event or association that is viewed a synergistic or favorable. Symbiosis is not necessarily a good thing as parasitism and mutualism are also forms of symbiosis. So sometimes I have to laugh about the use ecological terms as metaphors or analogies in business because they don’t make sense. But let’s get back to the concept of an ecosystem of influence. First let’s define an ecosystem here is the scientific definition and my definition of a social media ecosystem.
Scientific Definition: An ecological system, a natural unit of living and nonliving components which interact to form a stable system in which a cyclic interchange of materials takes place between living and nonliving units, Dictionary of Biology, 1971.
Social Media Definition: A highly collaborative global area network of interconnected machines and people who communicate, collaborate and spread influence at the business velocity of the Internet.
Observation is King
When studying a biological ecosystem there are many parameters that have to be identified observed and quantified, the same goes for modeling an influencer ecosystem. The most important activity to conduct during and evaluation of an ecosystem is observation. This is paramount. Observing interactions and interrelationships within the ecosystem unveils its dynamics. But remember another important aspect of any modeling exercise is, understanding that there are always unpredictable and unmeasureable parameters and also influencers.
The Influencer’s Ecosystem
- Economic market conditions in which the influencer exists
- Geography global, regional and/or local reach of the influencer
- Competitors who don’t agree with the influencer
- Other Influencers who think the same and are part of his network
- Partners who support the influencer
- Customers who consume influencer content and trust it
- Vendors who work with the influencer
- Channels of influence, Facebook, twitter, blogs etc.
So let’s model the dynamics, interactions and interrelationships of Paul Greenberg a prominent influencer in the world of CRM and SCRM influence. Most notably Paul is the author of CRM at the Speed of Light and is one of the most prolific writers in the industry and it seems like he is competing with Ram Charan for world’s most traveled business influencer. What makes Paul successful is of course his knowledge and insights into everything CRM, but what separates him from the traditional one man boutique research and consulting house is the ecosystem that he has built around him.
Paul is also a visionary and this is something that I don’t see in the ranks of traditional market research companies anymore and his work on the concept of social CRM is way ahead of the pack. In fact his knowledge and use of social media as a channel of influence is a best practice in the industry for any influencer. One of the key advantages that Paul has in the market is business agility, he is not confined by any management team and/or antiquated culture that is holding back many of the traditional market research companies when it comes to social media.
I have been working with Paul now for three years and here are some of my observations:
- He is a major influencer in everything CRM and is the father of our newest acronym SCRM and he participates in a highly competitive global industry where the market conditions vary with geography.
- He is global and is asked to speak at events globally and consults and advises companies on everything CRM and now SCRM.
- There are some influencers that think that customer experience management is more important than CRM.
- Paul has an ecosystem of influencers around him that he leverages including traditional market research companies; however, he differentiates himself by understanding the business value of technology and how to apply it to achieve business objectives.
- One of the most powerful aspects of Paul’s influence is the ecosystem of influencers around him including the conference and associations he participates in, and the CRM playaz. http://crmplayaz.com/
- Most CRM partners and vendors work with Paul in some capacity leveraging his insights and influence.
- Paul has a huge following on Twitter, he is always on Facebook and his ZDnet CRM blog is the most read in the world.
- The majority of the information that Paul provides insights on is accurate and trustworthy.
Net/Net
Last month I posted a blog entitled Everyone is a Journalist and Paul’s ecosystem picked it up and broadcasted it through their Twitter and Facebook channels, before I knew it I had over 3000 readers. This demonstrates the power of his ecosystem. People are joining and participating in social media peer group and communities globally and are forming ecosystems of influence of their own. Until next time I wish you great selling and marketing in the millennium.
Comments