Use appropriate metrics at each level 15 Business metrics: revenue, CSAT, reputation. Social media analytics: Insights, share of voice, resonance, WOM. Engagement metrics: fans, followers, clicks.
Highlight where you are strong, where you need to develop. Don’t create strategies that you can’t execute. Demonstrate impact of strategic work. Categories for readiness assessment Assess your readiness to be social 16
Communispace and Passenger offer online focus groups solutions.
Private communities give better control Get input from specific communities Can target specific hard-to-reach communities But they are hard to create – and maintain Who needs to be included? Excluded? Provide non-monetary incentives/rewards for participating in the community Deserves and requires dedicated community manager Integrate into your company’s support and innovation process Pros and cons of private communities 31
Go beyond traditional data to understand your customers 32 Demographic Geographic Psychographic Behavioral Socialgraphic
Where are your customers online? What social information or people do your customers rely on? What is your customers’ social influence? Who trusts them? What are your customers’ social behaviors online? How do your customers use social technologies in the context of your products. Socialgraphics asks key questions 33
Engagement Pyramid - Watching 35 Watch videos Read blog posts Listen to podcasts Read tweets Read discussion forum posts
Engagement Pyramid - Sharing 36 Share a link Share photos Share videos Write a status update Retweet
Engagement Pyramid - Commenting 37 Comment on a blog Write a review Rate a product Participate in a discussion forum @Reply on Twitter
Engagement Pyramid - Producing 38 Write a blog Create videos or podcasts Tweet for an audience
Engagement Pyramid - Curating 39 Moderate a wiki or discussion forum Curate a Facebook fan page
Engagement Pyramid Data 40 Source: Global Wave Index Wave 2, Trendstream.net, January 2010
Conduct research to identify the social behaviors of your target customer Also identify: Where are they online: Surveys or brand monitoring Who do they trust: Surveys Who do they influence: Survey or brand monitoring How they use these tools in context of your products: Most often surveys. When you first understand your customers, your marketing efforts will naturally unfold. Putting socialgraphics to work 41
Listen and learn from your customers. Start with basic monitoring tools, but quickly evolve them. Invest in analytics that matter. Use metrics that are relevant to your business. Understand the socialgraphics of your customers. Summary - Learn 42
43 Agenda Strategy Learn Dialog Support Innovate Lead Prepare
Conversations, not messages Human, not corporate Continuous, not episodic The New Normal 44
Blogs establish thought leadership 45 CEO Richard Edelman has been blogging consistently since September 2004.
The Central Bank of Brazil shares articles on twitter 46
Pantene Argentina listens to the crowd, connects with the individual 47
Ford targets an influencer, reaches half of Argentina’s Twitter audience 48
Encourage commenting to get into the Facebook news feed 49
ISS connects distributed work-force with social-powered intranet 52 “Everyone feels more connected. Socialtext is allowing us to work as a team towards our goals and serve customers more efficiently.” - Erick Vera, Enterprise Social Media Manager
Premier Farnell supports engineers with community, and employees with “OurTube” 53
Give out Flip cameras/smartphones Set up an internal “OurTube” Transcribe conversations into emails and posts Ask people for best practices, reactions, advice, opinion in areas of passion. Recognize key contributors. Getting people to share within your company 54
Tesco engages influencer blogs 57 Blog post series highlights & drives traffic to blogs by Influencers. Twitter feed encouages engagement too.
Visa’s online video campaign increase card payments 19% 58
Have an authentic conversation with your customers that they want to have. Engage across and through social communities Engage off of your Web site. Recruit an army of customer advocates. Respond to your prospects and customers in real time. Summary - Dialog 59
Retailer Best Buy has 2,500 employees providing support via Twitter 72
Real-time isn’t fast enough. Integrate “social” support into your support infrastructure. Scaling support to meet the groundswell will require that you create your own groundswell. Summary - Support 73
74 Agenda Strategy Learn Dialog Support Innovate Lead Prepare
Participate in crowdsourcing to understand how it works. Create a culture of sharing and collaboration within the company. Encourage “intrapreneurship”. 85% of innovations involve optimizing one parameter. Use social media to collect and prioritize ideas. Reduce “power distance” with open leadership and management. How to encourage innovation 75
ModCloth has customers merchandise new products 83
FoodExtraconnects food consumers and food producers through social 84
Innovating can come from any customer or employee interaction. Dedicated innovation communities require significant commitment and nurturing. Extend your firewall to bring customers into your organization. Summary - Innovating 85
Strategy Process Stages 86 Strategy statement
Does it shift power from one player to another?
“How personal relationships, individual opinions, powerful storytelling and social capital are helping brands…become more believable.” 1) Likenomics (credit to Rohit Bhargava) 90 Understand the supply, demand, and thus, value of Likes as social currency See http://bit.ly/rohit-likenomics for Rohit’s take
Likenomics evaluation 91 User experience impact - moderate People with high social currency will enjoy benefits, richer experiences, receive psychic income. People with low social currency will find ways to get it. Business model impact – moderate New economics create opportunity for people who understand Likenomics to leverage gas. The cost of accessing social currency will increase, and raise barriers to entry. Ecosystem value impact – none
92 2) Social Search – Beyond Friends to Interests Social sharing rises as a search ranking signal, esp in the enterprise Create a social content hub to gain traction Use microformats to highlight granularity (e.g. hProduct & hReview)
Social Search evaluation 93 User experience impact - Moderate Search becomes more useful, relevant to people. Business model impact – Moderate SEO takes on a different dimension, rewards companies with social currency, personalized experiences. Ecosystem value impact – Moderate New power brokers are social data/profile players who capture activity data and profiles. Google has little of either.
Social monitoring merges with Web analytics HOT: Omniture, Coremetrics/IBM, Webtrends Technology like Hadoop makes it easy for companies to tap “Big Data” E.g. New York Times making its archives public Twitter archived by Library of Congress Facebook Cassandra, Amazon Dynamo, Google BigTable Data visualization tools make it easy to digest Balancing privacy and personalization 3) Big Data 94
Big Data evaluation 95 User experience impact - Low Most users won’t directly experience Big Data. Business model impact – High New businesses and initiatives can be started at very low cost. Ecosystem value impact – Moderate Owners of Big Data repositories can assert control, demand payments for access.
TurboTax used “games” to encourage sharing and support 97 Social design can enter training, collaboration, support, hiring
Gamification evaluation 98 User experience impact – High Experiences get richer, more engaging Business model impact – Moderate Work gets done faster, cheaper. New organizational structures and cultures emerge. Ecosystem value impact – Low Service providers will remain focused, boutique firms.
Curation evaluation 100 User experience impact – Moderate User authority established from better curation, better content is organized well. Business model impact – Moderate Easier for businesses to create their content. Ecosystem value impact – Moderate Individuals challenge media and brands as authorities – and publishers that siphon off ad dollars.
Open platforms make it easy to partner and share 115 Open architecture Open data access
116 Centralized Democratic Distributed Consensus Decision making models
170 employees 100 modules with “module owners” One person makes the final decision in each module Social technologies make distributed decision making possible 117 Manage complex tasks Organizing for speed
16 Councils, 50 Boards make strategic decisions
Five ways companies organize around social media 132
Climb the Social Business Hierarchy of Needs 133 Holistic, Real-time Predictive Enlightenment Empowerment, Cross-Learning, Measurement Enablement Asset Inventory, Best Practice Sharing, Center of Excellence Formation Dedicated Team, Workflow, Crises Preparedness Safety Objectives, Policies, Education, Access Foundation
100% of Advanced companies allow employees to use social media professionally 134
SMPs require constant social media education 135
Read the full report, Creative Commons Open Research Report: Social Business Readiness 136 Methodology
63 Interviews and briefings with ecosystem contributors
Survey data from 144 social business programs
Structure your risk-taking and failure systems to create resilience 144 Conduct pre- and post-mortems. E.g. Johnson & Johnson after Motrin Moms. Identify the top 5-10 worst case scenarios. Develop mitigation and contingency plans. E.g. Ford’s “lost” Fiesta. Build in responsiveness. E.g. Best Buy’s Black reward card. Prepare yourself for the personal cost of failure.
Audit the last few failures you and your organization experienced. 25% - what happened. 25% - what you learned. 50% - what you will do next. Keep a failure file. Identify risk-taking training needs. Build failure into your planning and operating processes. Create support networks for the inevitable failures. Action plan to prepare for failure 145