transforming higher ed institutions to social businesses

There was a time, back when we walked ten miles uphill in the snow to get to school, that traditional marketing combined with recruitment fairs and fundraising campaigns meant steady university revenue. No longer.  

Students, as "customers", are informed and influenced by a social community and by our adaptability to their needs, not by recruitment officers with shiny pamphlets. Donors, as "partners", rightfully demand information sharing, engagement and value, just as they would of the companies they invest in and purchase from.

How can we give them what they seek? Enhance what we already do well -  knowledge sharing and community building - with the evolution of social media, social marketing and, wait for it...social business.

Social business, as defined by SideraWorks is:

"the creation of an organization that is optimized to benefit its entire ecosystem (customers, employees, owners, partners) by embedding collaboration, information sharing, and active engagement into its operations and culture. The result is a more responsive, adaptable, effective and ultimately more successful company."

source

Isn't this what higher ed institutions are good at (or at least aim to be good at) naturally? Our researchers constantly look for inspiring cross-discipline and industry collaborations. Our core mission is effective information sharing with students and the community. Engagement of students, alumni, employers and donors is at the core of student service and advancement offices.

The only stretch is now to do all of these good things in a more strategic way, on a much bigger platform, and for a much wider audience.

But it takes work.

• It means a heck of a lot of transparent internal communication and installing the right technology platforms to do it with. 
• It means educating leadership on the benefits of empowering all employees to solve problems, share insights and connect with each other and directly with our customers and partners in order to adapt and evolve.
• It means involving our customers in forming what the product they are paying for will be.
• It means a shift in thinking by the marketing team to publish content that is consumer and partner-centred, instead of news celebrating our own achievements and credentials. 
• It means convincing faculty members that giving their time to speak at public seminars and blog about insights into industry or society will pay off for them in the future with more funding for their work. 
•  It means listening to what our alumni need to improve their lives and then giving it to them, instead of flooding them with emails to attend events that may not be meaningful to them.
• And it means directing financial and human resources to take advantage of new social technology and opportunities. 

The result of this effort is surely worthwhile. Adapting our organizations to a social business model will strengthen brand reputation and relationships since value, service, authenticity and transparency will resonate quickly with our audiences. We will become a true community, not an institution.

And the revenue will follow. More importantly, that revenue will be more purposefully directed to the projects and programs that have direct impact on growth - because it will come from partners and customers making informed choices due to engagement with the people who are creating change.

Demonstrating value, connectivity, and collaborative innovation is what will transform an institution into a social business, and thereby drive advancement success.

Note: another good resource on how to build a social business is at Social Business Forum.