Aerospace eBusiness

Five keys to effective social networking for A&D executives October 7, 2009

In a recent email, the Strategic Media Publisher of AviationWeek, Greg Hamilton, conveyed to me the #1 complaint he hears from Aerospace & Defense executives about Social Media: “How do they cut through the information clutter and time consuming investment required by the constant interaction with clients, prospects, partners and suppliers over the Internet?” I think it is a fair question, but one that can be addressed with the following five keys to effective social networking for A&D executives:

1. Use technology to mash it all up: unfortunately, the thin sliver of information that would be of interest to a particular executive does not exist in a single place. Between industry news, customer information, supplier bulletins, industry events and core business practices, an executive might have to go to many different places to assemble a customized and compelling view. Many make the mistake to grow a list of places they need to “login” to get this information. They miss the fact that web2.0 technology is based on “Service Oriented Architecture” that allows users to gather streams of data and widgets and “mash them up” in a single customized view. They should take advantage of RSS technology or at least of advanced applications like TweetDeck and Hootsuite to become more efficient at “parsing” the information they need. Basic web2.0 programming (such as SharePoint) could be used to create a custom dashboard for the executive to combine just the information they need, regardless of where it actually comes from.
2. Rely on people of trust: the amount of information available online is growing at an exponential rate and it is impossible for a single individual to sift through that much data to get results. Therefore, the “social” aspect of the current development. Executives should not have to seek raw data as much as they should seek people they trust. They can be subordinates, competitors, industry experts, or journalists. Their contributions (on Twitter perhaps) will already be a nuanced view of the mass of information out there, probably from people they trust in turn. Following a network of trust-worthy individuals will always provide superior results to trying to search the basic information directly.
3. Plan for social networking time: the biggest mistake executives make is to become slave to their laptop or BlackBerry when it comes to email. If they are already consumed by answering every email that comes to them ASAP, they are overwhelmed by the prospect of adding social media streams to their information inflow. There is a big distinction between instantaneous and timely. Timely is good enough for most executives in our industry. So instead of constantly reading their Twitter stream or react to every “watch” message, they should simply plan their Social Networking time. Carving out 30 minutes every other day to interact with online communities should be more than sufficient. Social Networking should be disciplined and methodical, and should not be done in little unorganized bursts.
4. Ask questions or solicit input: social networking allows the executive not only to filter the information they want but they can now also interact with it. This is a fundamental difference in this new way of doing business. If an article is of interest, they should ask complementary questions. They should solicit input from suppliers and customers on even the smallest decisions they might have to make (e.g. “In next week’s keynote, should I focus on new products or new markets?”). Being engaged and interacting is the greatest benefit of social networking.
5. Follow-up and amplify: executives should not become an informational black hole, especially when it comes to Social Networking. They should definitely follow-up or respond to people with whom they have interacted. A simple “Thank You” can go a long way in establishing trust and respect. Also, they should contribute whenever they can. Providing (non-commercial) information to the community, or simply sharing personal knowledge will augment their social networking worthiness and tremendously enrich their experience.

In my opinion, one of the best executive user of Social Media in our industry is Richard Branson (@RichardBranson). He is a good model to study. I believe there are huge advantages to using Social Networking in A&D. It requires changes and new methods, and the consequences are quite revolutionary. As usual, our industry is slow to take on these new trends but there is no doubt that the benefits exist if you look at other sectors (as this recent survey shows). In addition, the next generation of A&D leaders has grown up using these techniques and, as I highlighted in a recent post for AeroLeaders2.com, the future belongs to companies that will be the first to master this new way of collaborating.

P.S. I think AviationWeek and other industry publications and associations can play a big role in items 1 and 2 above. Changing these organizations to adapt to this new way of interacting, while designing new business models and innovative ways to make money is where they should focus before someone else (or someone new) figures it out. Their long term viability may depend on it.