Convince The Curmudgeon

Convince The Curmudgeon - Presentation Transcript

Convincing The Curmudgeon Charlene Li Altimeter Group April 28, 2009

Meet your curmudgeon “It’s a fad and waste of time.” “There’s no ROI.” “It’s way too risky.” 2

Your curmudgeon can’t tell these apart 3 Source: Wordle.net

“It’s a fad and waste of time.”  Make it real for them. • Identify an area of passion. • Connect with old friends. • Showcase conversations with real customers, that teaches them something they didn’t know. 4

Pair different social media mindsets Fearful Cautious Realist Transparent Skeptic Tester Optimist Evangelist Find the “moments of truth” and “moments of crisis” for each mindset 5

Examples of Realist Optimists Lionel Menchaca Paula Drum Ed Terpening Dell H&R Block Wells Fargo 6

“There’s no ROI.”  Tie it to strategy and goals What will you do? What won’t you do? With limited time and resources 7

Focus on relationships, not technologies What kind of relationship do you want? Transactional Passionate Occasional Constant Impersonal Intimate Short-term Loyal 8

Tie technologies to the goals Dialog Learn Help Innovate 9

Measure the right things Your goals determine your metrics Use the same metrics as your corporate goals 10

Example “micro” metrics Goal Metric Value Learn # of customer Impact of faster, feedback better insights Dialog # of comments Brand loyalty # of referrals Faster, more closes # of sales Help # of issues addressed Employee satisfaction Innovate # of implemented Faster development ideas 11

Higher order metrics to consider 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) 12

“It’s way too risky.” Embrace and prepare for failure Identify the top 5-10 worst case scenarios. Develop mitigation and contingency plans. Prepare everyone for the inevitable failures. 13

Wal-mart failed many, many times 14

Buyer blog hit the right note 15

Photo: Kantor, http://www.flickr.com/photos/kantor 16