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The Role Of Social Media In The Organization

Online Information Conference presentation by Charlene Li, December 3, 2009 in London, UK

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The Role Of Social Media In The Organization

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  1. The Impact Of Social Media In Your Organization Charlene Li Altimeter Group December 3, 2009 For slides, send an email to info@altimetergroup.com

  2. Meet Dave Carroll Source: davecarrollmusic.com

  3. Success in the groundswell requires Open Leadership Have the confidence to let go and still inspire commitment When people get what they need from each other 4

  4. Open Leadership Having the confidence and humility to give up the need to be in control, while inspiring commitment from people to accomplish goals. Photo: Kantor, http://www.flickr.com/photos/kantor

  5. It’s about relationships

  6. A culture of sharing 7

  7. 10 Elements of Openness Information Sharing • Explaining • Updating • Conversing • Open Mic • Crowdsourcing • Platforms Decision Making • Centralized • Democratic • Self-managing • Distributed 8

  8. Explaining strategic decisions Open book management Managing leaks 9

  9. Updating with every day stuff 10

  10. Conversing: Vodafone on Facebook 11

  11. Open Mic: When people contribute 12

  12. Crowdsourcing new Walkers flavour 13

  13. Platform extends Guardian’s data Database of nuclear arms’ location 14

  14. Decision-making models Centralized Democratic Distributed Consensus 15

  15. Theme Social will be like air

  16. Facebook Connect extends See what friends read/comment on 17

  17. Your site as you know it 18

  18. Your site with Google Sidewiki 19

  19. Reviews from people I know Note: This is a mock-up, not an actual product Source: Razorfish

  20. New ways of targeting Demographic Geographic Psychographic Behavioral Socialgraphic 21

  21. Getting Started 22

  22. #1 Goals define your open strategy Dialog Learn Support Innovate

  23. Learning humanizing customers 24

  24. Plan dialog with the Engagement Pyramid Curators Producers Commenters Sharers Watchers

  25. Ritz-Carlton exemplifies service 26

  26. Starbucks innovates across the organization

  27. #2 Understand the benefits of openness “We tend to overvalue the things we can measure, and undervalue the things we cannot.” - John Hayes, CMO of American Express 28

  28. Fans have value only if they do something Buy more Coke Tell others how much they love Coke 4 million fans 29

  29. Use metrics to manage openness Net Promoter Score How likely are you to recommend this to someone you know? Lifetime Value Lifetime revenue Cost of acquisition Cost of retention Customer referral value (CRV)

  30. Making decisions with metrics Find more fans with large networks Refers Large network Doesn’t refer Fans Refers Small network Doesn’t refer Encourage fans to make more referrals 31

  31. Engagement scores of 100 brands +18% revenue +15% gross margin growth +5% revenue +3% gross margin growth +10% revenue +1% gross margin growth -6% revenue -11% gross margin growth 32 Source: EngagementDB.com

  32. #3 Build trust and manage risk The Sandbox Covenant

  33. #4 Orchestrate openness Workflow Stakeholders Org structure Roles Training Measurement 34

  34. Create new workflows i.e. Customer service monitors and responds to tweets directly

  35. Organizational models for openness Coordinated - Sets rules, best practices, policies - Spreads widely around the org - Takes time - Eg. HP Distributed Centralized - Organic growth - Authentic - Experimental - Not coordinated - Eg. Sun - One department controls all efforts - Consistent - May not be as authentic - Eg. Ford 36

  36. #5 Find and nurture Open Leaders Collaborative Independent Pessimist Optimist

  37. #6 Plan to fail well Identify the top 5-10 worst case scenarios. Encourage risk taking and forgive failures. 38

  38. New rules of open leadership Respect that your customers and employees have power Embody sharing to build trust Nurture curiosity and humility Hold openness accountable Forgive failure 39

  39. Thank You Charlene Li Altimeter Group charlene@altimetergroup.com blog.altimetergroup.com Twitter: @charleneli For slides, send an email to info@altimetergroup.com 40 Copyright © 2009 Altimeter Group

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