Under Anderson's leadership, Best Buy's revenue more than doubled to $40 billion annually. Profits grew at nearly a 17 percent annual rate.In addition, Anderson oversaw Best Buy's expansion into China, Mexico and Europe, and he changed the company's focus with a program called customer centricity, in which the company developed a handful of profiles of its most typical customers and re-organized stores to cater to the most important profile at each location.Like Anderson, Dunn started on Best Buy's sales floor and rose up the executive ranks. Dunn joined the company as a VCR salesman in 1985. He has been president and chief operating officer of Best Buy since 2006. He is 48 years old.
The IRI New Product Pacesetter Report ranks the best-selling new products in our industry in the U.S. every year. Over the past 14 years, P&G has had 114 top 25 Pacesetters — more than our six largest competitors combined. In the last year alone, P&G had five of the top 10 new product launches in the U.S. and 10 of the top 25.
Strategies, Models, and Roles Social Learning Where is Social Media Working? What’s the larger context? Where is social media having an impact? What does that mean to us? David Wilkins VP of Research
What’s happening today?– Pepsi’s Marketing "Consumers own the brands as much as we do, and they want to share their interests and likes," says Bonin Bough, director of social and emerging media for PepsiCo. “Twitter means we can react to something that happens and provide a platform for dialog. That's the key word. It's about engagement and building the relationship...”
Advertising is down double digits in broadcast mediums -- print, TV, and radio
And up double digits in conversational mediums – web and mobile devices
Used to measure “eyeballs” now measure influence and conversations *and* eyeballs
Proof that marketing has changed? Sales of the t-Shirt went up 2300% Best selling item in the clothing department
Why Companies are adopting Social Media… https://www.mckinseyquarterly.com/Business_Technology/BT_Strategy/How_companies_are_benefiting_from_Web_20_McKinsey_Global_Survey_Results_2432
Business benefits from Social Media https://www.mckinseyquarterly.com/Business_and_Web_20_An_interactive_feature_2431
Biggest Growth areas – look familiar? 8% increases https://www.mckinseyquarterly.com/Business_and_Web_20_An_interactive_feature_2431
Internal use cases are the dominant use cases Gartner: Social Media – biggest IT investment in 2011 McKinsey: 67% of companies will increase their spend on Social Media in 2011 https://www.mckinseyquarterly.com/Business_Technology/BT_Strategy/How_companies_are_benefiting_from_Web_20_McKinsey_Global_Survey_Results_2432
Social Media Adoption Mirrors Leadership changes
“Command and control” evolving to “Persuade and influence”
“Top-down communication” evolving to “Managed viral communication”
Proof – Best BUy
….we multiply our internal innovation capability with a global network of innovation partners outside P&G. More than half of all product innovation coming from P&G today includes at least one major component from an external partner. Proof – P&G http://www.annualreport.pg.com/annualreport2009/letter/strength.shtml
P&G’s “Company” Partner Community Formal content Social and informal content Customer Community Workplace Community Human capital Public Community Learning is the work and work is the learning…
You won't have to depend on the CEO anymore. We now have a whole pool of talent who can lead these working groups, like mini CEOs and COOs. We're growing ideas, but we're growing people as well. Where I might have had two potential successors, I now have 500. Proof – Cisco http://www.fastcompany.com/magazine/131/revolution-in-san-jose.html?page=0,0
Workers with specialized expertise on deep, complex and ever-changing subjects all around the country or even the world
Performance is not you need; pockets of expertise lead to great outcomes in certain scenarios, but not others; whereas in other regions, the weaknesses are the strengths
How do you normalize and then accelerate group performance?
Example Industries Franchises Associations Retail chains or hospitality chains Any globally distributed manufacturing or mining company Exercise #2 (Group): Be a “social” Consultant
Problem Results Background Geographically dispersed expertise Specialized products and product knowledge across a huge inventory Common roles, common needs but no way to capture knowledge Constant change and new info sometimes daily Independent owners 500% ROI in under 6 months Weekly and daily use of the system Documentation of common issues at marginal cost Documentation of specialized knowledge at marginal cost Culture of sharing All 4400 Ace stores are independently owned and operated by local entrepreneurs, hard-working, passionate business owners who are involved with and, many times, reside in the communities where their stores are. There's a good chance you'll see your local Ace store owner at the grocery store or Little League game.
Example Industries Any of them – who doesn’t have comptitors? Exercise #2 (Group): Be a “social” Consultant
Problem Results Background Huge growth mode – 200+ branches in under two years Needed to capture knowledge of competitors that was shared by clients Need to capture & share best practices in a state of constant flux Standard training & communication wouldn’t work Weekly and daily use of the system Documentation of common issues at marginal cost Documentation of specialized knowledge at marginal cost Faster distribution of key information Culture of sharing & SN For more than 25 years, Scottrade has been a leader in the stock brokerage industry. A leader in technology, a leader in customer service and a leader in value. Today at Scottrade, investors have the stock trading tools and services they need to take control of their investing needs.
If a trainer compiled this same information and delivered it in a course each month with a quiz at the end, does that change who owns it?
What if the training group mentored the sales folks on how best to present what they know?
What if the training group did a weekly lunch and learn summarizing the latest updates?
How many of the silos between training, knowledge management, document management etc… arepurely in our heads?
As a group, your clients and customers know more about your product or service than you do
The cost of mining them for that information is prohibitive as the information constantly changes
How do you share the expertise of individual clients with other clients and use their expertise to better inform your own team?
Example Industries Software Complex Hardware Complex Systems Obsolesced Technology Exercise #2 (Group): Be a “social” Consultant
Problem Results Background Bluetooth for the masses? YIKES! Average support call costs $8-$12 Need to capture & share best practices in linking new Bluetooth devices which are in a state of constant flux Standard training & communication wouldn’t work As of last Spring, 10,000 active users and over 1,000,000 message views Painless rollout and adoption of the technology Documentation of common issues at marginal cost Innovation and product suggestions In January of 2007, Ford launched SYNC, a factory-installed, in-car communications and entertainment system developed by Ford and Microsoft that allows various portable digital music players and Bluetooth-enabled mobile phones to be operated with simple voice commands. Named one of the Top 10 “Most Brilliant Gadgets” of 2007 by Popular Mechanics.
Who is the most critical person in this organization?
Weak Ties Sales Marketing Production HR and Legal R&D Weak ties This person has strong connections to multiple groups (weak ties) which enables her to act as a conduit between teams.
Strong Ties Sales Marketing Production HR and Legal R&D Strong ties She is also tied to multiple people within her own group (strong ties). She is quite likely the most influential person in this company.
Who really runs this company? Sales Marketing Production HR and Legal R&D Real Power These four individuals are the true power-brokers of the organization. They are each highly connected in their own organizations and are connected to major players in other groups.
Learning & Development Issues Sales Marketing Production HR and Legal R&D How can Community help?
Consensus building, ability to drive a vision and change management
Exercise #3: Be careful what you wish for… Company decides it’s ready to try Learning 2.0 / Social Learning approaches They give you absolute control over the program, plenty of budget, ability to make decisions that affect process etc… Create a checklist of all of the things you need to think about to make that happen…
Best Case Worst Case You own it. You start it. You drive consensus. You create governance council. You expand your scope and professional opptys. You elevate your status. You are on the sidelines, watching other groups drive it. You are relegated to the team that does compliance and mandatory training. Your role is commoditized. You become a support function.
Questions Contact firstname.lastname@example.org @dwilkinsnh on Twitter dwilkinsnh on LinkedIn http://dwilkinsnh.wordpress.com