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Presentation by Charlene Li for HSM in Buenos Aires, Argentina, on October 3, 2011

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    Presentation Transcript
    slide1

    1

    The Power Of Groundbreaking

    Social Technologies

    Charlene Li

    Altimeter Group

    Twitter: @charleneli

    Email: charlene@altimetergroup.com

    slide2

    2

    © 2011 Altimeter Group

    out of control

    OUT of CONTROL?

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide4

    4

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide5

    5

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide6

    6

    It‟s time to move past experiments

    © 2011 Altimeter Group

    it s about relationships

    It‟s about RELATIONSHIPS

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide8

    8

    Agenda

     Strategy

     Lead

     Prepare

    © 2011 Altimeter Group

    slide9

    9

    Agenda

     Strategy

     Lead

     Prepare

    © 2011 Altimeter Group

    slide10

    10

    Strategy Process Stages

    Formulation

    & Alignment

    Discovery

    Ideation

    Planning

    Roadmap

    © 2011 Altimeter Group

    slide11

    11

    Strategy Process Stages

    Formulation

    & Alignment

    Discovery

    Ideation

    Planning

    Roadmap

    Set context

    • Determine key objectives

    • Level of strategy (corporate, biz unit, brand)

    • Identify key metrics

    • Assess readiness

    © 2011 Altimeter Group

    slide12

    12

    Align social with key strategic goals

    Examine your

    2011 goals

    Pick ones where

    social will have an

    impact

    © 2011 Altimeter Group

    slide13

    13

    Objectives differ by level

    Corporate

    Business unit

    Risk

    management

    Consistency

    across brands

    Brand

    Leadership

    development

    & culture

    Social strategist

    & COE

    Community

    manager &

    education

    Engagement

    metrics

    Channel focus

    ROI metrics

    Value metrics

    © 2011 Altimeter Group

    slide14

    14

    Ask the Right Questions about Value

    “We tend to overvalue the things we can

    measure, and undervalue the things we

    cannot.”

    - John Hayes, CMO of American Express

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide15

    15

    Use appropriate metrics at each level

    Corporate

    Business metrics: revenue,

    CSAT, reputation.

    LOB/Geo

    Stakeholders

    Social media analytics: Insights,

    share of voice, resonance,

    WOM.

    Social

    Engagement metrics: fans,

    followers, clicks.

    Strategist/Community

    Manager

    © 2011 Altimeter Group

    slide16

    16

    Assess your readiness to be social

     Highlight where you are strong, where you need

    to develop.

     Don‟t create strategies that you can‟t execute.

     Demonstrate impact of strategic work.

     Categories for readiness assessment

    • Customer Profile

    • Communication

    • Market Analysis

    • Mindset

    • Processes

    • Roles

    • Organizational Model

    • Stakeholders

    • Education

    • Monitoring

    • Reporting

    © 2011 Altimeter Group

    slide17

    17

    Benchmarking Social Readiness (Before)

    December 2009

    © 2011 Altimeter Group

    slide18

    18

    Benchmarking Social Readiness (After)

    April 2010

    © 2011 Altimeter Group

    slide19

    19

    Strategy Process Stages - Discovery

    Formulation

    & Alignment

    Discovery

    Ideation

    Planning

    Roadmap

    Collect and prioritize strategic options

    • Metrics-based value assessment

    • Prioritize against objectives

    © 2011 Altimeter Group

    slide20

    20

    Evaluate each initiative

    Impact

    • How does it

    support an

    objective?

    • What metrics

    matter?

    Readiness

    • Are there

    people who

    can do this?

    • Is there

    budget?

    Risks

    • What are the

    risks if we do

    this?

    • What if we

    don‟t?

    Priority

    • Does this

    initiative

    enable other

    work?

    © 2011 Altimeter Group

    slide21

    21

    Define Your Strategy With Objectives

    Dialog

    Learn

    Support

    Innovate

    © 2011 Altimeter Group

    how does social media matter to b2b

    How does social media matter to B2B?

    Chief stakeholders may

    not be using social media.

    • But lieutenants will be.

    Social media is impacting

    how B2B decisions are

    being made.

    • Background research

    • Expertise

    • Search results impact

    © 2011 Altimeter Group

    slide23

    23

    Why care about social technologies?

    • 62% read user ratings/reviews for business

    products/services

    • 62% visit company profiles on social media sites

    • 55% visit company blogs

    • 51% participate in online business communities or

    forums

    • 49% ask questions on Q&A sites

    • 29% use Twitter to find or request business-

    related information

    Source: 2009 Business.com Business Social Media Benchmarking Study (n=2,393)

    © 2011 Altimeter Group

    slide24

    24

    People in B2B use social media for work

    Read user ratings/reviews for

    business products/services

    62%

    Visit company profiles on social

    62%

    media sites

    Visit company blogs

    55%

    Participate in online business

    communities or forums

    51%

    Ask questions on Q&A sites

    49%

    Use Twitter to find or request

    business information

    29%

    Source: 2009 Business.com Business Social Media Benchmarking Study (n=2,393)

    © 2011 Altimeter Group

    slide25

    25

    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

    slide26

    26

    Track brand mentions with basic tools

    What would happen

    if every employee

    could learn from

    customers?

    © 2011 Altimeter Group

    slide27

    27

    Integrate monitoring with workflow

    Other providers

    Alterian

    BrandsEye

    Buzzmetrics

    Cymfony

    Sysmos

    Visible Tech.

    From Radian 6, to be acquired by Salesforce.com

    © 2011 Altimeter Group

    slide28

    28

    Go beyond basic monitoring to analytics

    Monitoring &

    analytics support

    integrated into

    everyday workflow

    Deep monitoring to

    prep & support

    campaigns

    Centralized

    monitoring but not

    actionable in

    business unites

    Tracks brand

    mentions using

    basic tools

    (Google, Twitter)

    Make course corrections

    nearly real-time.

    Use predictive analytics to

    anticipate demand.

    No monitoring

    in place

    © 2011 Altimeter Group

    slide29

    29

    Shoppers want to be “known”

    I walk into the store

    Store knows it‟s me

    Give me offers

    And plans my visit

    © 2011 Altimeter Group

    slide30

    30

    Community insight platforms

    » Communispace and

    Passenger offer

    online focus groups

    solutions.

    © 2011 Altimeter Group

    slide31

    31

    Pros and cons of private communities

     Private communities give better control

    • Get input from specific communities

    • Can target specific hard-to-reach communities

     But they are hard to create – and maintain

    • Who needs to be included? Excluded?

    • Provide non-monetary incentives/rewards for

    participating in the community

    • Deserves and requires dedicated community manager

    • Integrate into your company‟s support and innovation

    process

    © 2011 Altimeter Group

    slide32

    32

    Go beyond traditional data to understand

    your customers

    Demographic

    Geographic

    Psychographic

    Behavioral

    Socialgraphic

    © 2011 Altimeter Group

    slide33

    33

    Socialgraphics asks key questions

    1. Where are your customers online?

    2. What social information or people do your

    customers rely on?

    3. What is your customers‟ social influence? Who

    trusts them?

    4. What are your customers‟ social

    behaviors online?

    5. How do your customers use social technologies

    in the context of your products.

    © 2011 Altimeter Group

    slide34

    34

    Engagement Pyramid

    Curating

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide35

    35

    Engagement Pyramid - Watching

    Watch videos

    Read blog posts

    Listen to podcasts

    Read tweets

    Read discussion

    forum posts

    Curating

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide36

    36

    Engagement Pyramid - Sharing

    Share a link

    Share photos

    Share videos

    Write a status update

    Retweet

    Curating

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide37

    37

    Engagement Pyramid - Commenting

    Comment on a blog

    Write a review

    Rate a product

    Participate in a

    discussion forum

    @Reply on Twitter

    Curating

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide38

    38

    Engagement Pyramid - Producing

    Curating

    Write a blog

    Create videos or

    podcasts

    Tweet for an

    audience

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide39

    39

    Engagement Pyramid - Curating

    Curating

    Moderate a wiki or

    discussion forum

    Curate a Facebook

    fan page

    Producing

    Commenting

    Sharing

    Watching

    © 2011 Altimeter Group

    slide40

    40

    Engagement Pyramid Data

    United

    States

    Mexico

    Brazil

    UK

    Curating

    <1%

    <1%

    <1%

    <1%

    Producing

    42.7%

    52.7%

    21.1%

    26.1%

    Commenting

    56.9%

    54.0%

    31.9%

    34.4%

    Sharing

    69.8%

    79.3%

    61.8%

    63.0%

    Watching

    89.8%

    89.3%

    78.9%

    78.1%

    Source: Global Wave Index Wave 2, Trendstream.net, January 2010

    © 2011 Altimeter Group

    slide41

    41

    Putting socialgraphics to work

     Conduct research to identify the social behaviors of your

    target customer

     Also identify:

    • Where are they online: Surveys or brand monitoring

    • Who do they trust: Surveys

    • Who do they influence: Survey or brand monitoring

    • How they use these tools in context of your products: Most

    often surveys.

     When you first understand your customers, your marketing

    efforts will naturally unfold.

    © 2011 Altimeter Group

    slide42

    42

    Summary - Learn

     Listen and learn from your customers.

     Start with basic monitoring tools, but quickly

    evolve them.

     Invest in analytics that matter. Use metrics that

    are relevant to your business.

     Understand the socialgraphics of your customers.

    © 2011 Altimeter Group

    slide43

    43

    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

    slide44

    44

    The New Normal

     Conversations, not messages

     Human, not corporate

     Continuous, not episodic

    © 2011 Altimeter Group

    slide45

    45

    Blogs establish thought leadership

    CEO Richard Edelman has

    been blogging consistently

    since September 2004.

    © 2011 Altimeter Group

    slide46

    46

    The Central Bank of Brazil shares articles

    on twitter

    © 2011 Altimeter Group

    slide47

    47

    Pantene Argentina listens to the crowd,

    connects with the individual

    © 2011 Altimeter Group

    slide48

    48

    Ford targets an influencer, reaches half of

    Argentina‟s Twitter audience

    © 2011 Altimeter Group

    slide49

    49

    Encourage commenting to get into

    the Facebook news feed

    © 2011 Altimeter Group

    slide50

    50

    B2B can also use Facebook

    • Develop

    relationships with job

    candidates,

    prospects, and

    current employees

    • Insert your content

    into newsfeed of fans

    • B2B is really people

    to people

    © 2011 Altimeter Group

    slide51

    51

    Also encourage dialog inside the company

    © 2011 Altimeter Group

    slide52

    52

    ISS connects distributed work-force with

    social-powered intranet

    “Everyone feels more

    connected. Socialtext is

    allowing us to work as a

    team towards our goals

    and serve customers

    more efficiently.”

    - Erick Vera, Enterprise Social Media Manager

    © 2011 Altimeter Group

    slide53

    53

    Premier Farnell supports engineers with

    community, and employees with “OurTube”

    © 2011 Altimeter Group

    slide54

    54

    Getting people to share within your

    company

     Give out Flip cameras/smartphones

    • Set up an internal “OurTube”

    • Transcribe conversations into emails and posts

     Ask people for best practices, reactions, advice,

    opinion in areas of passion.

     Recognize key contributors.

    © 2011 Altimeter Group

    slide55

    55

    Tivo joined an existing community

    © 2011 Altimeter Group

    slide56

    56

    Advocacy – A five-phase approach

    Phase 4:

    Put

    Advocates

    First

    Phase 1:

    Internal

    Readiness

    Phase 2:

    Identify

    Advocates

    Phase 3:

    Build

    Relationships

    Phase 5:

    Foster

    Growth

    © 2011 Altimeter Group

    slide57

    57

    Tesco engages influencer blogs

    Blog post series

    highlights & drives

    traffic to blogs by

    Influencers. Twitter

    feed encouages

    engagement too.

    © 2011 Altimeter Group

    slide58

    58

    Visa‟s online video campaign increase

    card payments 19%

    © 2011 Altimeter Group

    slide59

    59

    Summary - Dialog

     Have an authentic conversation with your

    customers that they want to have.

     Engage across and through social communities

     Engage off of your Web site.

     Recruit an army of customer advocates.

     Respond to your prospects and customers in real

    time.

    © 2011 Altimeter Group

    it s about relationships 1

    It‟s about RELATIONSHIPS

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide61

    61

    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

    slide62

    62

    Telmex provides customer support on Twitter

    © 2011 Altimeter Group

    slide63

    63

    Ritz-Carlton managers monitor Twitter for

    real-time service

    Property manager

    helped unhappy

    honeymooners

    © 2011 Altimeter Group

    slide64

    64

    DellOutlet supports sales with Twitter

    © 2011 Altimeter Group

    slide65

    65

    Movistar‟s „Social Media Agents‟ advance

    customer support on Twitter

    Moviestar has specific

    social media

    guidelines and

    processes in place to

    facilitate customer

    service online.

    © 2011 Altimeter Group

    slide66

    66

    Brazilian politicians provide campaign

    support via Twitter

    © 2011 Altimeter Group

    slide67

    67

    Question & Answer sites provide opportunity

    for support

    © 2011 Altimeter Group

    slide68

    68

    Q&A encourages dialog too

    © 2011 Altimeter Group

    slide69

    69

    iRobot ties discussion boards into

    customers support

    iRobot escalates

    unanswered

    questions into

    support centers

    © 2011 Altimeter Group

    slide70

    70

    Salesforce.com Service Cloud ties

    social channels back to customer data

    © 2011 Altimeter Group

    slide71

    71

    Solarwinds‟ community is strategic

    © 2011 Altimeter Group

    slide72

    72

    Retailer Best Buy has 2,500 employees

    providing support via Twitter

    © 2011 Altimeter Group

    slide73

    73

    Summary - Support

     Real-time isn‟t fast enough.

     Integrate “social” support into your support

    infrastructure.

     Scaling support to meet the groundswell will

    require that you create your own

    groundswell.

    © 2011 Altimeter Group

    slide74

    74

    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

    slide75

    75

    How to encourage innovation

     Participate in crowdsourcing to understand how it

    works.

     Create a culture of sharing and collaboration

    within the company.

     Encourage “intrapreneurship”.

    • 85% of innovations involve optimizing one parameter.

    • Use social media to collect and prioritize ideas.

     Reduce “power distance” with open leadership

    and management.

    © 2011 Altimeter Group

    slide76

    76

    P&G uses reviews to improve products

    © 2011 Altimeter Group

    slide77

    77

    GE asked for ideas from around the globe

    © 2011 Altimeter Group

    slide78

    78

    Starbucks involves 50 people around the

    organization in innovation

    Over 100 ideas

    have been

    implemented

    © 2011 Altimeter Group

    slide79

    79

    P&G goes outside for innovation

    P&G made

    outside-in

    innovation a

    priority

    © 2011 Altimeter Group

    slide80

    80

    Success story: Glad Press‟n Seal

     P&G developed technology from diaper research

     Reached out to competitor Clorox to form a new

    joint venture

     Helped Glad become Clorox‟s second largest

    brand

    © 2011 Altimeter Group

    slide81

    81

    Fiat Mio, the world‟s first crowdsourced car

    © 2011 Altimeter Group

    slide82

    82

    Mio by the numbers

    © 2011 Altimeter Group

    slide83

    83

    ModCloth has customers merchandise

    new products

    © 2011 Altimeter Group

    slide84

    84

    FoodExtra connects food consumers and

    food producers through social

    © 2011 Altimeter Group

    slide85

    85

    Summary - Innovating

     Innovating can come from any customer or

    employee interaction.

     Dedicated innovation communities require

    significant commitment and nurturing.

     Extend your firewall to bring customers into your

    organization.

    © 2011 Altimeter Group

    slide86

    86

    Strategy Process Stages

    Formulation

    & Alignment

    Discovery

    Ideation

    Planning

    Roadmap

    Strategy statement

    • What you will do

    • What you won‟t do

    Scenarios development

    • Implementation roadblocks

    • Company and leadership implications

    • Risk identification

    • Build resilience

    © 2011 Altimeter Group

    slide87

    87

    What‟s the Next Big Thing?

    © 2011 Altimeter Group

    slide88

    88

    © 2011 Altimeter Group

    slide89

    89

    Identify and prioritizing disruptions that matter

    User Experience

    •Is it easy for

    people to use?

    •Does it enable

    people to

    connect in new

    ways?

    Business Model

    •Does it tap new

    revenue

    streams?

    •Is it done at a

    lower cost?

    Ecosystem Value

    •Does it change

    the flow of

    value?

    •Does it shift

    power from one

    player to

    another?

    © 2011 Altimeter Group

    slide90

    90

    1) Likenomics (credit to Rohit Bhargava)

    “How personal relationships, individual opinions,

    powerful storytelling and social capital are helping

    brands…become more believable.”

    Understand the

    supply, demand,

    and thus, value of

    Likes as social

    currency

    See http://bit.ly/rohit-likenomics for Rohit‟s take

    © 2011 Altimeter Group

    slide91

    91

    Likenomics evaluation

     User experience impact - moderate

    • People with high social currency will enjoy benefits,

    richer experiences, receive psychic income.

    • People with low social currency will find ways to get it.

     Business model impact – moderate

    • New economics create opportunity for people who

    understand Likenomics to leverage gas.

    • The cost of accessing social currency will increase, and

    raise barriers to entry.

     Ecosystem value impact – none

    © 2011 Altimeter Group

    slide92

    92

    2) Social Search – Beyond Friends to Interests

    Social sharing rises

    as a search ranking

    signal, esp in the

    enterprise

    Create a social

    content hub to gain

    traction

    Use microformats to

    highlight granularity

    (e.g. hProduct &

    hReview)

    © 2011 Altimeter Group

    slide93

    93

    Social Search evaluation

     User experience impact - Moderate

    • Search becomes more useful, relevant to people.

     Business model impact – Moderate

    • SEO takes on a different dimension, rewards

    companies with social currency, personalized

    experiences.

     Ecosystem value impact – Moderate

    • New power brokers are social data/profile players who

    capture activity data and profiles.

    • Google has little of either.

    © 2011 Altimeter Group

    slide94

    94

    3) Big Data

     Social monitoring merges with Web analytics

    • HOT: Omniture, Coremetrics/IBM, Webtrends

     Technology like Hadoop makes it easy for

    companies to tap “Big Data”

    • E.g. New York Times making its archives public

    • Twitter archived by Library of Congress

    • Facebook Cassandra, Amazon Dynamo, Google

    BigTable

     Data visualization tools make it easy to digest

     Balancing privacy and personalization

    © 2011 Altimeter Group

    slide95

    95

    Big Data evaluation

     User experience impact - Low

    • Most users won‟t directly experience Big Data.

     Business model impact – High

    • New businesses and initiatives can be started at very

    low cost.

     Ecosystem value impact – Moderate

    • Owners of Big Data repositories can assert control,

    demand payments for access.

    © 2011 Altimeter Group

    slide96

    96

    4) Game-ification

    © 2011 Altimeter Group

    slide97

    97

    TurboTax used “games” to encourage

    sharing and support

    Social design can

    enter training,

    collaboration,

    support, hiring

    © 2011 Altimeter Group

    slide98

    98

    Gamification evaluation

     User experience impact – High

    • Experiences get richer, more engaging

     Business model impact – Moderate

    • Work gets done faster, cheaper.

    • New organizational structures and cultures emerge.

     Ecosystem value impact – Low

    • Service providers will remain focused, boutique firms.

    © 2011 Altimeter Group

    slide99

    99

    5) Curation

    © 2011 Altimeter Group

    slide100

    100

    Curation evaluation

     User experience impact – Moderate

    • User authority established from better curation, better

    content is organized well.

     Business model impact – Moderate

    • Easier for businesses to create their content.

     Ecosystem value impact – Moderate

    • Individuals challenge media and brands as authorities –

    and publishers that siphon off ad dollars.

    © 2011 Altimeter Group

    slide101

    101

    Summary of disruptions

    User

    Business

    Model

    Moderate

    Moderate

    High

    Moderate

    Moderate

    Value

    Networks

    Low

    Moderate

    Moderate

    Low

    Moderate

    Experience

    Moderate

    Moderate

    Low

    High

    Moderate

    Likenomics

    Social Search

    Big Data

    Gamification

    Curation

    © 2011 Altimeter Group

    it s about relationships 2

    It‟s about RELATIONSHIPS

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide103

    103

    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

    out of control 1

    OUT of CONTROL?

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide105

    105

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide106

    106

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide107

    107

    How to give up control

    but still be in command

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    slide108

    108

    Open Leadership

    Having the confidence

    and humility to give up

    the need to be in control,

    while inspiring

    commitment from people

    to accomplish goals

    © 2011 Altimeter Group

    slide109

    109

    10 elements of openness

    Information Sharing

    • Explaining

    • Updating

    • Conversing

    • Open Mic

    • Crowdsourcing

    • Platforms

    Decision Making

    • Centralized

    • Democratic

    • Consensus

    • Distributed

    © 2011 Altimeter Group

    slide110

    110

    Explaining strategic decisions

    Open book management

    Managing leaks

    © 2011 Altimeter Group

    slide111

    111

    Updating with every day stuff

    © 2011 Altimeter Group

    slide112

    112

    Kohl‟s has conversations on Facebook

    © 2011 Altimeter Group

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    Open Mic: When people contribute

    © 2011 Altimeter Group

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    Crowdsourcing new Walkers flavour

    © 2011 Altimeter Group

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    Open platforms make it easy to partner

    and share

    Open architecture

    Open data access

    © 2011 Altimeter Group

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    Decision making models

    Centralized

    Democratic

    Distributed

    Consensus

    © 2011 Altimeter Group

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    Social technologies make distributed

    decision making possible

    Manage complex tasks

    Organizing for speed

     170 employees

     100 modules with

    “module owners”

     One person makes

    the final decision in

    each module

     65,000 employees

     16 Councils,

    50 Boards make

    strategic decisions

     Joint leadership of

    each group

    © 2011 Altimeter Group

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    Determine how open you need to be with

    information to meet your goals

    Openness audit available at

    http://bit.ly/opennessaudit

    © 2011 Altimeter Group

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    Complete the Openness Audit

    © 2011 Altimeter Group

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    Traits of Open Leaders

    Authenticity

    Transparency

    © 2011 Altimeter Group

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    Transparency as an imperative

    © 2011 Altimeter Group

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    How Best Buy became open and social

    © 2011 Altimeter Group

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    Best Buy‟s First Social Media Experts

    Steve Bendt &

    Gary Koelling

    © 2011 Altimeter Group

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    The Executive Advocate

    Barry Judge

    CMO of Best Buy

    © 2011 Altimeter Group

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    Barry‟s first post

    © 2011 Altimeter Group

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    The Premier Black Fiasco

    6.8 million

    emails sent

    instead of

    1,000 test

    © 2011 Altimeter Group

    developing open leaders

    Developing Open Leaders

    © 2011 Altimeter Group

    © 2010 Altimeter Group

    you can imagine the chatterati creating as much

    “You can imagine the Chatterati creating as

    much value as an SVP in the organization by

    sharing their institutional knowledge and

    expertise - and we should look at

    compensation structures with that in mind.”

    - Marc Benioff, CEO of Salesforce.com

    © 2011 Altimeter Group

    © 2010 Altimeter Group

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    Agenda

     Strategy

    • Learn

    • Dialog

    • Support

    • Innovate

     Lead

     Prepare

    © 2011 Altimeter Group

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    #1 Create a Culture of Sharing

    © 2011 Altimeter Group

    2 discipline is needed to succeed

    #2 Discipline is Needed to Succeed

    131

    Take reasonable

    action to fix issue

    and let customer

    know action taken

    Positive

    Negative

    Yes

    Yes

    Does customer

    need/deserve more

    info?

    No

    Assess the

    message

    Do you want

    to respond?

    Evaluate the

    purpose

    Yes

    Yes

    No

    No

    Unhappy

    Customer?

    Are the facts

    correct?

    Gently correct the

    facts

    Response

    No

    No

    Yes

    Yes

    No

    Can you

    add value?

    Are the facts

    correct?

    Dedicated

    Complainer?

    No

    Yes

    Is the

    problem

    being fixed?

    Explain what is

    being done to

    correct the issue.

    Yes

    Respond in

    kind & share

    Thank the

    person

    Comedian

    Want-to-Be?

    No

    Yes

    Adapted from US Air Force Comment Policy

    Let post stand and

    monitor.

    © 2011 Altimeter Group

    © 2011 Altimeter Group

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    Five ways companies organize around social media

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    Climb the Social Business Hierarchy of Needs

    Holistic,

    Real-time

    Predictive

    Enlightenment

    Empowerment,

    Cross-Learning,

    Measurement

    Enablement

    Asset Inventory, Best Practice Sharing,

    Center of Excellence

    Formation

    Dedicated Team, Workflow, Crises Preparedness

    Safety

    Objectives, Policies, Education, Access

    Foundation

    © 2011 Altimeter Group

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    100% of Advanced companies allow employees to use social

    media professionally

    © 2011 Altimeter Group

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    SMPs require constant social media education

    © 2011 Altimeter Group

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    Open Research Report: Social Business Readiness

    Methodology

    •63 Interviews and briefings with

    ecosystem contributors

    •Survey data from 144 social

    business programs

    •Analysis of 50 social media crises

    Read the full report, Creative Commons

    © 2011 Altimeter Group

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    #3 Ask the Right Questions about Value

    “We tend to overvalue the things we can

    measure, and undervalue the things we

    cannot.”

    - John Hayes, CMO of American Express

    © 2011 Altimeter Group

    © 2011 Altimeter Group

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    A Framework For Social Analytics

    © 2011 Altimeter Group

    the new lifetime value calculation

    The new lifetime value calculation

    • Percent that refer

    • Size of their networks

    • Percent of referred

    people who purchase

    • Value of purchases

    + Value of purchases

    -Cost of acquisition

    + Value of new customers

    from referrals

    + Value of insights

    • Percent that provide

    support

    • Frequency and value of

    the support

    + Value of support

    + Value of ideas

    ____________________

    = Customer lifetime value

    Spreadsheets for all calculations

    available at open-leadership.com

    © 2011 Altimeter Group

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    35% increase in LTV captured

    Year 1

    10,000

    $400,000

    $150,000

    $250,000

    $74.89

    Year 2

    Year 3

    3,500

    $140,000

    $17,500

    $122,500

    Number of customers

    Gross profit of purchases

    Cost of acquisition

    Net profit

    Traditional LTV/customer

    5,000

    $200,000

    $25,000

    $175,000

    Value of referrals

    Value of insights

    Value of support

    Value of ideas

    Net profit and value

    Revised LTV per customer

    $30,000

    $10,000

    $5,438

    $2,000

    $297,438

    $101.48

    $45,906

    $5,438

    $8,156

    $1,000

    $235,500

    $45,287

    $4,080

    $6,120

    $1,000

    $178,986

    © 2011 Altimeter Group

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    Make 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

    © 2011 Altimeter Group

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    #4 Prepare for Failure

    No relationships are perfect

    Google‟s mantra:

    “Fail fast, fail smart”

    © 2011 Altimeter Group

    © 2011 Altimeter Group

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    © 2011 Altimeter Group

    © 2011 Altimeter Group

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    Structure your risk-taking and failure

    systems to create resilience

    1. Conduct pre- and post-mortems.

    • E.g. Johnson & Johnson after Motrin Moms.

    2. Identify the top 5-10 worst case scenarios.

    • Develop mitigation and contingency plans.

    • E.g. Ford‟s “lost” Fiesta.

    3. Build in responsiveness.

    • E.g. Best Buy‟s Black reward card.

    4. Prepare yourself for the personal cost of failure.

    © 2011 Altimeter Group

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    Action plan to prepare for failure

     Audit the last few failures you and your

    organization experienced.

    • 25% - what happened.

    • 25% - what you learned.

    • 50% - what you will do next.

     Keep a failure file.

     Identify risk-taking training needs.

     Build failure into your planning and operating

    processes.

     Create support networks for the inevitable

    failures.

    © 2011 Altimeter Group

    it s about relationships 3

    It‟s about RELATIONSHIPS

    © 2011 Altimeter Group

    © 2011 Altimeter Group

    2011 altimeter group 2011 altimeter group

    © 2011 Altimeter Group

    © 2011 Altimeter Group