Is your business making full use of technology? Case Study: Dell
Now here is an incredible statistic. Dell carries only about 7 days of supplies/ inventory. A typical company might have 30 or 50 days of inventory. " That makes a difference in our cash flow, in our ability to have the freshest and newest products- so when there's a new processor iteration, or a new display, or a new battery, it means we are many weeks ahead of others." (Michael Dell)
All this relies on information, he says, with an enormously efficient system being required to translate and feed customers' requirements into the supply chain instantaneously. Dell has picked up on the fact that there are hundreds of millions of engaged customers participating in social media forums sharing information. Dell sees it as a way of having persistent relationships and conversations with our best customers.
These communities have tremendous value inside them - they offer a way to communicate the value of your offering and to reach out to your most loyal customers. The flipside to that is social media affords an opportunity for you to be able to respond to negative comments and negative customer experiences, and put them right promptly.
Dell goes on to say that these conversations will occur whether a company participates or not and so he believes every company should participate and get involved.
Dell believes firmly that the "human-machine" interface has the most potential. He has pledged Dell's future to social commerce - allowing people to shop together in real time on Dell's e-commerce site.
Over the last 18 months, Dell has been experimenting with social commerce - selling on Twitter and with its Group Buy feature DellSwarm. Dell affirms that these social commerce experiments have allowed the company to build a compelling business case for social commerce investment.
According to Dell, the challenge that remains to be met, is how to apply the learnings to create an integrated and coherent socially-enhanced digital experience - shopping, community and service.
Dell continues to apply the LEAD strategy for social commerce.
Listen (Dell Idea Storm, Direct 2 Dell), Experiment (Dell Swarm, Dell Deal Feeds) – and is now gearing up to Apply it’s learning, and given the stated importance of social commerce, will no doubt continue to Develop its social commerce strategy.
- Listen: Begin with a simple social media monitoring solution that monitors conversations and competitors – how are competitors using social commerce?
- Experiment – Start with small scale experiments using the toolset to identify what works for you. Test and learn to explore ROI potential
- Apply – Apply learning and build on tools that work for you, integrating social commerce into your overall digital strategy
- Develop – Constantly evolve and adapt to beat user expectations – deliver “joy of use” with new insights and technology
How could you use the LEAD strategy to deploy an evidence-based social commerce strategy ?