Preparing For The Future Of Social Media
 

Preparing For The Future Of Social Media

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  • Preparing For The Future Of Social MediaThe hotly anticipated Facebook IPO marks a watershed moment for social media -- no longer the bright shiny objective, it's time to stop dabbling and get serious. Yet most organizations look at social media as a check list -- got a presence on Facebook, Twitter, YouTube, Google+ and LinkedIn? Check it off the list. But unbeknownst to these leaders, much of the hard work still lies ahead. Charlene Li share what the future of social media looks like from our perch here in 2012 -- and what we need to do today to get ready. We'll discuss the detailed process of how to create a robust social business strategy that is holistic and integrated, as well as the core capabilities your organization must have in 2012 to be competitive.
  • Where we have come from, timeline of how quickly things change.
  • Social and especially Facebook is dominant
  • How much do you really know about me? If we are going to be in a relationship, then I expect that you’ve taken the time to get to know me before we even meet. Trust becomes a significant issue. Relationship between privacy and permission
  • Have a plan for everyday triage – as well as the crisis.

Preparing For The Future Of Social Media Preparing For The Future Of Social Media Presentation Transcript

  • 1 Preparing For The Future Of Social MediaSFAMAFebruary 8, 2012Charlene LiFounder and Partner
  • 2 How Time Flies iPhone Facebook Nexus One Facebook Debut Connect Android Debut Timeline Jan 2007 July 2008 January 2010 Sept 2011 Facebook iPhone App iPad Debut Platform Store April 2010 May 2007 July 2008© 2012 Altimeter Group
  • 3 Social media is a daily habit for most Frequency of visits to Facebook Visit at least daily Visit less than daily Source: Facebook From S-1 Registration Statement© 2012 Altimeter Group
  • 4 Boom and bust cycle keeps repeating Number of US venture capital deals 1995Q1-2011Q3 2500 2000 1500 Google IPO Facebook IPO Netscape IPO 1000 500 0 Source: PricewaterhouseCoopers MoneyTree Report© 2012 Altimeter Group
  • What the Future Will Bring© 2012 Altimeter Group
  • Image by Slowtron used with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309 Social Media Will Be Like Air© 2012 Altimeter Group
  • It’s about RELATIONSHIPS© 2012 Altimeter Group 2011
  • 8 #1 Consumers will reward transparent companies with their loyalty© 2012 Altimeter Group
  • 9© 2012 Altimeter Group
  • 10 Is your company ready to be authentic and transparent? Opportunity: Build trust with every day transparency© 2012 Altimeter Group
  • 11 #2 People want to be known 25-55 years old, married, kids, working, graduate degree, travels a lot© 2012 Altimeter Group
  • 12 Ways you can know me I walk into my local grocery store© 2012 Altimeter Group
  • 13 The store knows it’s me • Social check-ins (Four Square, Yelp, Facebook Places) • Near Field Communications© 2012 Altimeter Group
  • 14 I get coupons to use right away© 2012 Altimeter Group
  • 15 And connect my phone to in-store GPS shopping cart© 2012 Altimeter Group
  • 16 Mobile is a tool, not a strategy From “Make An App For That: Mobile Strategies For Retailers, Feb 2012 Opportunity: Use data from trusted relationships to build unique experiences© 2012 Altimeter Group
  • 17 #3 Connected employees will create a culture of sharing Opportunity: Meet the groundswell of customers with your own groundswell of employees© 2012 Altimeter Group
  • Enterprise social networks use relationships to create a social business Transformation • C-suite led Optimization • Predictive • Department led • Proactive Collaboration • Centrally managed • Reactive Connection • Decentralized • Ad-hoc© 2012 Altimeter Group
  • 19 Leaderships means having followers “Leadership is a relationship between those who aspire to lead and those who choose to follow.” - From “The Leadership Challenge”© 2012 Altimeter Group
  • Redefine what it means to be a leader© 2012 Altimeter Group 2010
  • “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© 2012 Altimeter Group 2010
  • Creating Coherent Plans© 2012 Altimeter Group
  • 23 The Takeaway – it’s time to get serious Strategy Discipline Capabilities© 2012 Altimeter Group
  • 24 Define Your Strategy With Goals Dialog Learn Support Innovate© 2012 Altimeter Group
  • 25 Strategy Project And Deliverables 3. 1. 2. Strategy Organizational Discovery Development Development A. Establish A. Strategic Vision A. Social Readiness Business Objectives Statement Roadmap and Metrics B. B. Opportunity B. Initiative Monitoring/Analytics Analysis Development Roadmap C. Customer C. Strategy C. Executive Segment Analysis Roadmap Education© 2012 Altimeter Group
  • 26 What kind of relationship do you want? Transactional Loyal Occasional Constant Impersonal Authentic Short-Term Long-Term© 2012 Altimeter Group
  • Be disciplined about addressing your 27 Hierarchy of Needs Holistic, Real-time Enlightenment Predictive Empowerment, Cross-Learning, Enablement Measurement Asset Inventory, Best Practice Sharing, Formation Center of Excellence Dedicated Team, Workflow, Crises Preparedness Safety Objectives, Policies, Education, Access Foundation© 2012 Altimeter Group
  • Most companies still don’t do this 28 Take reasonable action to fix issue and let customer know action taken Positive Negative Yes Yes No Do you want Assess the Evaluate the Does customer to respond? message purpose need/deserve more info? No Yes Unhappy Yes Are the facts No Gently correct the Response Customer? correct? facts No Yes Can you No Dedicated Yes Are the facts No add value? Complainer? correct? No Yes Explain what is Respond in Thank the Comedian Is the Yes being done to kind & share person Want-to-Be? problem correct the issue. being fixed? No Adapted from US Air Force Comment Policy Yes Let post stand and monitor.© 2012 Altimeter Group 2011
  • 29 Creating capabilities is a priority… But most organizations will spend less than $25,000 on social media training© 2012 Altimeter Group
  • 3 Offer training at all levels of the organization Center of Executives Excellence Business Employees Units 2012© 2011 Altimeter Group
  • 31 Make sure you use the right metrics The Social Media Measurement Compass© 2012 Altimeter Group
  • Key capability: The ability to give up the need to be in control© 2012 Altimeter Group 2011
  • Image by Slowtron used with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309 Social Media Will Be Like Air© 2012 Altimeter Group
  • THANK YOU Charlene Li charlene@altimetergroup.com charleneli.com Twitter: charleneli For slides, email slides@altimetergroup.com© 2012 Altimeter Group