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Developing a Social Strategy Charlene Li Altimeter Group February 24, 2010 1 Jeremiah Owyang Altimeter Group #socialstrategy
Research is the foundation of any strategy. Our first webinar (Part 1) of this series focused on how to use socialgraphics to create your own Engagement Pyramid. This webinar (Part 2) will focus on developing a social strategy based on business goals. The next webinar (Part 3) will explain how to get your company ready to execute a social strategy. A 3-part series 2
Wells Fargo Supports Customers 16 Ask Wells Fargo supports customers in real time –while keeping true to their bankers hours tradition. Rather than hide behind a logo, they use real human voices and names, increasing trust
Premier Farnell supports engineers with community, and employees with “OurTube” 17
Starwood guests help each other 18 FlyerTalk has over 20,000 threads on the site, with up to tens of thousands of views each. Starwood guests are visiting the forum and finding answers, while Starwood collects market intelligence.
Microsoft’s MVP Experts Support –and Advocate 19 Microsoft’s MVP programs nominates helpful customers and professionals once a year. This unpaid army supports other customers –and becomes community advocates * Disclosure: Microsoft is an Altimeter Client, learn more about our disclosure policy at http://www.altimetergroup.com/disclosure
Gauging interest for Bacon Salt 21 Makers of BaconSalt reached out to fans of bacon on MySpace to gauge interest in their new product. Baconaisse and bacon-flavored sunflower seeds were later created after listening to customer requests.
Fiat gathers product and market intelligence 22 Contributors submit ideas, and can include pictures and embed videos. Fiat gets valuable ideas for features and design, and marketing and advertising.
#1 Start small, start now 26 At the least, listen to learn Pick a goal
Where to start? Align social with strategic goals 27 Examine your 2010 goals Pick one where social can have an impact
28 #2 Understand the value What’s the value of a fan or follower? 16,965 followers +4 million fans
+ Value of purchases - Cost of acquisition = Customer lifetime value + Value of new customers from referrals + Value of insights + Value of support The new lifetime value calculation, based on your goals
Build trust and manage risk 39 The Sandbox Covenant
Like any relationship, the best ones are best on built on listening and understanding. Pick one goal and master that, then layer on more. When choosing a social strategy goal, align it with your business goals and those of your customers. Benchmark your progress based upon your business goals, not “engagement” data. Change your mindset: letting go will yield more results. Summary 40
41 41 Thank you Charlene Li email@example.com blog.altimetergroup.com Twitter: charleneli Jeremiah Owyang firstname.lastname@example.org web-strategist.com/blog Twitter: jowyang
42 About Us Altimeter Group is a strategy consulting firm that provides companies with a pragmatic approach to disruptive technologies. We have four areas of focus: Leadership and Management, Customer Strategy, Enterprise Strategy, and Innovation and Design. Visit us at http://www.altimetergroup.com or contact email@example.com.