Anne Mc Crossan - Managing Brands and Brand Culture in Social Media

Beans and Pearls Social business design for finance Social business design and management What it means for brands and corporate cultures

‘ I believe we will survive and thrive in the new creative age only if we enlarge both our understanding and our delivery of creativity’ Sir Martin Sorrell, D&AD President’s Lecture Nov 1996

Creativity as a means of broadcast

‘ I believe we will survive and thrive in the new creative age only if we enlarge both our understanding and our delivery of creativity’ But the message isn’t getting through

The social environment re-defines how to transact and behave to create value

Permission, trust and loyalty as a means of involvement

How much do you trust businesses in each of the following industries to do what is right? Source: Edelman Trust Report - US companies

In the UK, France and Germany, trust in banks, media companies, energy and automotive has declined steeply Source: Edelman Trust Report - European companies

Financial services companies have come off badly in terms of the perceived match between the promise they put out and the consumer experience. Source: Promise Index 2009

% of Top 100 banks in Forbes Global 2000 2009 that are acknowledged as having a presence in social media .

Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009 5%

5% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009

% of Top 100 diversified financial services companies in Forbes Global 2000 2009 acknowledged as having a presence in social media .

How many of the top 100 diversified financial services companies in Forbes Global 2000 2009 are acknowledged as having a presence in social media? . Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009 9%

How many of the top 100 diversified financial services companies in Forbes Global 2000 2009 are acknowledged as having a presence in social media? . 9% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009

% of the 92 insurance companies within Forbes Global 2000 2009 acknowledged as having a presence in social media .

6% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009

It starts with the identity of the brand as a central organizing thread

Branding is a contact sport…the further apart you are from your audience, the less likely you are able to connect and have an impact with them.

Social business supports formative experiences

Iterative, adaptive fits integrated into business design

And marketing based on intention and involvement Attention Traditional media Intention Then Now Broadcast Involvement

Protectionism in finance is strong

Opportunity to leverage intangible assets like culture

The economics of automated transaction changes things

task people ask tell Source: Keirsey Temperament Sorter

A brand is what people say about you when you’ve left the room, social media is about being a part of that conversation and there is good news…

80% tacit communication Source: Karen Stephenson Netform

80% tacit communication hubs gatekeepers pulsetakers Source: Karen Stephenson Netform

80% learning strategy advice innovation social decision making tacit communication Source: Karen Stephenson Netform

Beans and Pearls 2.0 Increasing employee satisfaction Decreasing travel costs Increasing customer satisfaction Increasing speed of access to internal experts Increasing effectiveness of marketing Reducing communication costs Increasing speed of access to knowledge 35% 40% 43% 43% 52% 54% 68% 20% 40% 60% 80% 100% Business returns being seen from Web 2.0 Benefits acknowledged by survey respondents (%) Source: McKinsey September 2009 Close to seven out of ten respondents (69%) report that their companies “have gained measurable business benefits, including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues”.

tangible assets intangible assets industrial organizations commercial organizations social organizations utilities causes A commercial evolution Visceral Business - Anne McCrossan - www.visceralbusiness.com

tangible assets intangible assets industrial organizations commercial organizations social organizations utilities causes A commercial evolution who you are and what you do products and services skills and approach culture and personality mission and cause 1 2 3 4 5 Visceral Business - Anne McCrossan - www.visceralbusiness.com

industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes mining retail mining tangible assets intangible assets Positioning the brand 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com

tangible assets intangible assets industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes mining retail mining Positioning the brand 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com

Yochai Benkler Berkman Professor of Entrepreneurial Legal Studies at Harvard & Faculty co-director of the Berkman Center for Internet and Society ‘ The personal computer changed the basic model of capitalization of information, knowledge, and cultural production. Computation, communications, storage, sensing, and capture devices are now widely distributed. These, in turn, enable the effective deployment of the other core input into the global information economy - human creativity, wisdom, insight, and perspective.’ ‘ Capital, Power, and the Next Step in Decentralization’ Essay, Sept 16 th 2009

Strength of leadership Market worth Technological capability
Clarity of business intent
and openness of operations
The business has defined social benefit and quality of outcomes
The degree to which the business model canvas is defined, the environmental, social and economic benefits of the business are articulated and the business is clearly positioned
Percentage of people within the organization engaged in social media
Levels of sentiment, inside and outside the organization and strength of reputation across products and services, innovation, workplace, governance, citizenship, leadership and performance
Churn, recruitment time and costs involved of employee
Channel reach, social capability, and type of engagement profiles
Network mapping across the organization’s hierarchies, communities of interest and trust networks
Open innovation capability and activities
Real-time open-data management capabilities
Processes to measure proximity and collaboration
Auditing processes, benchmark setting and monitoring capabilities
ROCE/Market capitalization (Forbes/Fortune/FTSE metrics and public analyst opinion)
Brand value
Reputation and customer satisfaction metrics
Human capital value measured by the ratio of brand valuation to market capitalization by employee
Share of voice (measuring conversations that take place online, levels of reach in the market across multiple channels using listening platforms and social media KPI’s)
Media spend ROI (measuring the % of spend to return)
Levels of engagement
Average new revenue per customer and lifetime value per customer
Visceral Business - Anne McCrossan - www.visceralbusiness.com

Source: Visible Banking www.visiblebanking.com

tangible assets intangible assets industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes Positioning the brand mining retail mining 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com

affinity is stronger than structure Visceral Business - Anne McCrossan - www.visceralbusiness.com

So the question is: How can you connect with ‘the people formerly known as the audience’? Visceral Business - Anne McCrossan - www.visceralbusiness.com

The web makes trading more granular and accountable The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com

The value of each person in your address book is $948 When friends of your friends are not friends of each other or belong to the same social group = 276.64% increase in monthly revenues One strong link to your manager is worth $588.2/m One weak link to your manager costs $98.48/m Having managers in a project is correlated with team performance initially Too many managers in a project is negatively associated with team performance Strong ties to executives is positively correlated Attributes of your network human capital, power and status have a unique relationship with work performance. A place where personal worth and corporate worth combine The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com

‘ all value is perceived value, and persuasion is more effective than compliance’ Rory Sutherland, Chairman IPA, TED Oxford June 2009 Back to behavioural economics

‘ you can’t fake community, you can’t force it, either’ Chris Brogan

Involvement pwns broadcast ‘ People will forget what you said, they’ll forget what you did, but they’ll never forget how you made them feel and what you inspired them to do.’

credible and compelling

credible and compelling credible compelling

Your business must be aware of, and leveraging, its DNA

And realize cultural value as part of social business design

A business model to describe the way you intend to make money by creating and delivering value collectively. Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com

Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com

Business model co-creation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com

Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com

frequency of use number of channels low high low high Source: Altimeter Group

emotional commitment intellectual understanding low high low high

3 core KPI’s Visceral Business - Anne McCrossan - www.visceralbusiness.com

A biological organization

And also an insurance policy and safety net

Collaboration creates new dimensions of value across an organization Your organization has a unique DNA and culture worth cultivating Connect with the business case strategically, go beyond tools and channels There is no internal and external in the social organization Social leadership skills and management capabilities are core to success Establish pools of interest around your business capable of generating attention, contribution and wanting to connect.

Photos and credits Slide 1 : Coffee beans by Incasa Coffee http://bit.ly/1NvtHh Slide 1 : Pearl farming 02 by nataliebehring.com http://bit.ly/4vOuvM Slide 19: Rope-pulling by vavara lozenko http://bit.ly/4Au1SF Slide 21: Arm wrestle 2 by deejaynye http://bit.ly/2SvFd Slide 22: We’ll walk hand in hand some day! by Werner Schnell (1.stream) http://bit.ly/3TIMJ6 Slide 24: Image Visceral Business Slide 25: Bank Vault – 003 by Jason Bethchel http://bit.ly/29iDYW Slide 26: Where is going the stock market ????? by pfala http://bit.ly/4zUR86 Slide 27: Image source not known Slide 31: Smile by jiggskykeken http://bit.ly/2cvjqJ Slide 31: Work in Progress by Katherine Treffinger http://bit.ly/FfT0u Slide 31: Post Office by Suzy Pym http://bit.ly/FW8nD Slide 31: Driving light by Crankydragon http://bit.ly/19jNBC Slide 32: Image not attributed taken from Seth Godin’s Tribes presentation Slide 33: Saving by Ken Wilcox http://bit.ly/1YJkmb Slide 43: Managing the Brand by Tom Fishburne http://bit.ly/t2RjE Slide 49: Reputation Statement of Account by Jason Tester 2004 Slide 50: Contribution text via @Sparkbouy and IBM Slide 50: P1050180.JPGby l.million http://bit.ly/2FBEOa Slide 56: New spectacles by Steve Green http://bit.ly/LvyNa Slide 56: Time to play by qcomplex5 http://bit.ly/e0qsD Slide 56: 4 by 3littleboyz http://bit.ly/2R5asI Slide 56: My Name is Not Clark Kent! Carlos Norbero http://bit.ly/JFlIl Slide 58: Slide 26: Where is going the stock market ????? by pfala http://bit.ly/4zUR86 Slides 61 – 72 taken from Business Model Generation by Alex Osterwalder Slide 73: I ate 6 by Farl http://bit.ly/4sMMZQ Slide 73: Butterflies in my head by Kees Straver http://bit.ly/ooIpN Slide 73: Wallfower by Cognitive Ambition http://bit.ly/YcOjV Slide 73: Rainbow Coloured 319 by CrashCalloway http://bit.ly/2sTaGJ Slide 74: Passively bystanding by Lo Li http://bit.ly/odsab Slide 74: The weakest link by Darwin Bell http://bit.ly/FAPcN Slide 74: Target Day 2 by Mikey Sachs http://bit.ly/O09Os Slide 76: Image source not known Slide 77: Web 2 by Aldo Trim http://bit.ly/2aNQ0b

http://somesso.com	47
http://localhost:8888	30
http://jujo00obo2o234ungd3t8qjfcjrs3o6k-a-sites-opensocial.googleusercontent.com	23
http://www.somesso.com	22
http://futurechat.in	16
http://www.slideshare.net	12
https://jujo00obo2o234ungd3t8qjfcjrs3o6k-a-sites-opensocial.googleusercontent.com	6
http://beta.somesso.com	3
http://localhost	1

Anne Mc Crossan - Managing Brands and Brand Culture in Social Media

by Arjen Strijker on Nov 04, 2009

Accessibility

Categories

Tags

Upload Details

Usage Rights

9 Embeds 160

Statistics

Anne Mc Crossan - Managing Brands and Brand Culture in Social Media — Presentation Transcript