Social Media Strategy, HSM Italia
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Social Media Strategy, HSM Italia

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Presentation by Charlene Li on 31 May 2011 for HSM Italia in Milan, Italy

Presentation by Charlene Li on 31 May 2011 for HSM Italia in Milan, Italy

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  • MUST INCLUDE
  • n_sala: @ Piposala updating the software. court shall have to go to English and you doAutomatically translated from Spanish

12 minutes ago via web · Reply · View Tweet ·  Show Conversation
 
joejcurry: Dear @ ConAgraFoods : I Was That elated to see Peter Pan peanut butter is for sale in Madrid's El Corte Ingles. :)Automatically translated from Spanish

about 1 hour ago via web · Reply · View Tweet
 
adelantando: Spent the evening shopping at El Corte Ingles. I couldn't have been happier.Already in English

about 1 hour ago via TweetCaster from Madrid, Madrid · Reply · View Tweet
 


Averny: @ Xansi good case and makes you not personally read the English cutsuits meAutomatically translated from Spanish

about 2 hours ago via Echofon · Reply · View Tweet ·  Show Conversation
 
acha_szemzo: Well, today was a day duuuuro, I ate a 1 in English .. I cut my hair, train in San Carlos, r ECINE arrived .. that straw, now # UniqueAutomatically translated from Spanish

about 3 hours ago via web · Reply · View Tweet
 
Karoliineeea: Today is already on sale in Spain new CD-The Remixes Justin Bieber! Not reach 10 €! In the English court but brings x 10 1 T €Automatically translated from Spanish

  • http://surprise.klm.com/
  • We don’t own all of this data. We want to work with others. Including brand monitoring. You have to be holistic in your customer understanding
  • http://www.slideshare.net/socialmediainfluence/ruth-speakman-from-sony-electronics-europe-at-social-media-influence-conference (slide 9 for Twitter as retail channel)http://twitter.com/#!/sonyeuropehttp://www.gadgetlite.com/2009/10/23/10-sony-vaio-laptops-weve-e-voucher/To celebrate their 1,000th follower on Twitter, SonyEurope promoted a special 10% discount offer if they followed them and customized a laptop on their website. This offer was given as an exclusive to three online publications and teaser tweets were sent to promote it as well. The end result was over 1million Euros worth of product orders.
  • http://www.bannerblog.com.au/2009/06/vw_twitter.phpVW set up a banner ad whereyouenteredyourTwitter handle, itanalyzed the keywordsyouused in yourtweets and thensuggested a specific model VW based on thatanalysis.
  • http://www.typicallyspanish.com/news/publish/article_25232.shtmlTurespaña ( The Spanish Institute of Tourism) has launched an innovative online campaign on social networks, such as Facebook, Twitter and Youtube relating to the subject, “Spain, a country to share”. The project aims to completely change the way of communicating and promoting Spanish destinations, going beyond the classic idea of Spain as a destination for “sun and beach”.http://www.facebook.com/spainhttp://www.formspring.me/ilovespainhttp://www.youtube.com/spain
  • http://www.facebook.com/ernstandyoungcareers?sk=wall&filter=120110330#charlene#facebook#b2b#dialog#hr#recruitment
  • http://www.facebook.com/interrailnet?sk=wall&filter=2
  • http://wearesocial.net/tesco/http://blog.clothingattesco.com/category/clothing-at-tesco-loves/
  • http://www.businessweek.com/globalbiz/content/jun2009/gb20090619_984913.htmhttp://twitter.com/#!/vodafoneukAlmost ALL of Vodafone UK’s 47,000+ tweets are public @replies to customer inquiries. The only tweets that aren’t are to let customers now when their team is signing off for the night and signing back on in the morning. Although the article I read that mentioned them said they also used it for marketing purposes, I didn’t see any marketing messages recently.
  • http://simpliflying.com/2010/live-how-airlines-and-eurocontrol-are-conquering-icelandinc-volcanic-ash-through-social-media-ashtag/
  • http://www.linkedin.com/answers?trk=hb_tab_aynhttp://www.facebook.com/?sk=questions&ap=1http://www.quora.com/Which-are-the-best-social-media-blogs-in-Spain?q=spain+social+media
  • http://searchcrm.techtarget.com/news/1350030/Should-marketing-or-customer-service-manage-your-social-networking-efforts
  • http://www.facebook.com/danskebank?v=app_177360692283592http://www.visible-banking.com/2011/02/idebank-danske-bank-leverages-facebook-to-improve-its-mobile-banking-application.htmlMarch 16, 2011#financial#europe#sweden#facebook#innovate
  • http://ideaposti.posti.fi/#uusimmat_tab
  • http://www.fiatmio.cc/en/20110330#charlene#innovating#crowdsource
  • Starbucks has a site where people can make suggestions on how they should improve. The key difference is that the suggestions are public, and people can vote for their favorite suggestions. Here’s an example of automatic ordering. Note that there is a status update here “Under Review”.
  • Define how open well.

Transcript

  • 1. Creating A Coherent Social Media Strategy
    1
    Charlene Li
    Altimeter Group
    2011 May 30
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • 2. 2
  • 3. It’s time to move past experiments
    3
  • 4. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 5. 5
    Agenda
    Strategy
    Lead
    Prepare
  • 6. 6
    Agenda
    Strategy
    Lead
    Prepare
  • 7. Strategy Process Stages
    7
  • 8. Strategy Process Stages
    8
    Set context
    • Determine key objectives
    • 9. Level of strategy (corporate, biz unit, brand)
    • 10. Identify key metrics
    • 11. Assess readiness
  • Align social with key strategic goals
    9
    Examine your 2011 goals
    Pick ones where social will have an impact
  • 12. Objectives differ by level
    10
  • 13. Ask the Right Questions about Value
    11
    “We tend to overvalue the things we can measure, and undervalue the things we cannot.”
    - John Hayes, CMO of American Express
    © 2011 Altimeter Group
  • 14. Use appropriate metrics at each level
    12
    Business metrics: revenue, CSAT, reputation.
    Social media analytics: Insights, share of voice, resonance, WOM.
    Engagement metrics: fans, followers, clicks.
  • 15. 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
    13
  • Benchmarking Social Readiness (Before)
    14
    December 2009
  • 26. Benchmarking Social Readiness (After)
    15
    April 2010
  • 27. Strategy Process Stages - Discovery
    16
    Collect and prioritize strategic options
    • Metrics-based value assessment
    • 28. Prioritize against objectives
  • Evaluate each initiative
    17
  • 29. Define Your Strategy With Objectives
    18
  • 30. How does social media matter to B2B?
    Chief stakeholders may not be using social media.
    • But lieutenants will be.
    Social media is impacting how B2B decisions are being made.
    • Background research
    • 31. Expertise
    • 32. Search results impact
  • People in B2B use social media for work
    20
    Source: 2009 Business.com Business Social Media Benchmarking Study(n=2,393)
  • 33. 21
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 34. Track brand mentions with basic tools
    22
    What would happen if every employee could learn from customers?
  • 35. Integrate monitoring with workflow
    23
    Other providers
    Alterian
    BrandsEye
    Buzzmetrics Cymfony
    Sysmos
    Visible Tech.
    From Radian 6, to be acquired by Salesforce.com
  • 36. Be sure to track the actual conversations, not just the tweets
    24
    @JaimieH is a top diabetics advisor who was talking with an insulin pump maker
  • 37. How KLM listened and surprised flyers
    25
  • 38. Go beyond basic monitoring to analytics
    26
    Make course corrections nearly real-time.
    Use predictive analytics to anticipate demand.
  • 39. Shoppers want to be “known”
    27
    I walk into the store
    Store knows it’s me
    Give me offers
    And plans my visit
  • 40. Community insight platforms
    28
    • 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
    29
  • 41. 30
    Learn also from your employees
  • 42. Go beyond traditional data to understand your customers
    31
    Demographic
    Geographic
    Psychographic
    Behavioral
    Socialgraphic
  • 43. 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
    32
  • 44. Engagement Pyramid
    33
  • 45. Engagement Pyramid - Watching
    34
    Watch videos
    Read blog posts
    Listen to podcasts
    Read tweets
    Read discussion forum posts
  • 46. Engagement Pyramid - Sharing
    35
    Share a link
    Share photos
    Share videos
    Write a status update
    Retweet
  • 47. Engagement Pyramid - Commenting
    36
    Comment on a blog
    Write a review
    Rate a product
    Participate in a discussion forum
    @Reply on Twitter
  • 48. Engagement Pyramid - Producing
    37
    Write a blog
    Create videos or podcasts
    Tweet for an audience
  • 49. Engagement Pyramid - Curating
    38
    Moderate a wiki or discussion forum
    Curate a Facebook fan page
  • 50. Engagement Pyramid Data
    39
    Source: Global Wave Index Wave 2, Trendstream.net, January 2010
  • 51. 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
    40
  • 52. 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
    41
  • 53. 42
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 54. Conversations, not messages
    Human, not corporate
    Continuous, not episodic
    The New Normal
    43
  • 55. Blogs establish thought leadership
    44
    CEO Richard Edelman has been blogging consistently since September 2004.
  • 56. SonyEurope rewards Twitter followers with discount that drives significant sales
    45
    SonyEuropes 10% off VAIO laptops deal to celebrate their 1,000 Twitter follower lead to over €1m worth of product ordered.
  • 57. VW inserted a tweet analyzing tool into their banner ad to suggest a specific model
    46
  • 58. Spain Tourism used multiple channels to encourage dialog/sharing
    47
  • 59. Kohl’s engages directly with customers
    48
  • 60. B2B can also use Facebook
    49
    • Develop relationships with job candidates, prospects, and current employees
    • 61. Insert your content into newsfeed of fans
    • 62. B2B is really people to people
  • Encourage commenting to get into the Facebook news feed
    50
  • 63. Premier Farnell supports engineers with community, and employees with “OurTube”
    51
  • 64. 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
    52
  • 65. Tivo joined an existing community
    53
  • 66. 54
    Advocacy – A five-phase approach
  • 67. Tesco engages influencer blogs
    55
    Blog post series highlights & drives traffic to blogs by Influencers. Twitter feed encouages engagement too.
  • 68. 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
    56
  • 69. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 70. Support and Innovate With Your Customers
    58
    Charlene Li
    Altimeter Group
    2011 May 30
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • 71. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 72. 60
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 73. Vodafone UK uses Twitter to proactively communicate with customers
    61
    Vodafone UK humanizes their Twitter account by including pictures of their support team and identifying different respondents by an “^” and the team member’s initials.
  • 74. Ritz-Carlton managers monitor Twitter for real-time service
    62
    Property manager helped unhappy honeymooners
  • 75. Support during a crisis
    63
    Used #euva and #ashtag to track conversations
    Source: simplifying.com
  • 76. DellOutlet supports sales with Twitter
    64
  • 77. Question & Answer sites provide opportunity for support
  • 78. Q&A encourages dialog too
    66
  • 79. iRobot ties discussion boards into customers support
    67
    iRobot escalates unanswered questions into support centers
  • 80. Salesforce.com Service Cloud ties social channels back to customer data
    68
  • 81. Solarwinds’ community is strategic
    69
  • 82. Retailer Best Buy has 2,500 employees providing support via Twitter
    70
  • 83. 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
    71
  • 84. 72
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 85. P&G uses reviews to improve products
    73
  • 86. Danish bank ask for help to improve mobile banking on Facebook
    74
  • 87. Finnish post created an idea exchange
    75
  • 88. Fiat invites ideas for a new car
    76
  • 89. Archer collects product development ideas in a private community
    77
  • 90. Starbucks involves 50 people around the organization in innovation
    78
    Over 100 ideas have been implemented
  • 91. Dell taps employee ideas too
    79
  • 92. P&G goes outside for innovation
    80
    P&G made outside-in innovation a priority
  • 93. P&G developed technology from diaper research
    Reached out to competitor Clorox to form a new joint venture
    Helped Glad become Clorox’s second largest brand
    Success story: Glad Press’n Seal
    81
  • 94. ModCloth has customers merchandise new products
    82
  • 95. 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
    83
  • 96. Strategy Process Stages
    84
    Strategy statement
    • What you will do
    • 97. What you won’t do
    Scenarios development
    • Implementation roadblocks
    • 98. Company and leadership implications
    • 99. Risk identification
    • 100. Build resilience
  • What’s the Next Big Thing?
    85
  • 101. 86
  • 102. 87
    Identify and prioritizing disruptions that matter
    User Experience
    • Is it easy for people to use?
    • 103. Does it enable people to connect in new ways?
    Business Model
    • Does it tap new revenue streams?
    • 104. Is it done at a lower cost?
    Ecosystem Value
    • Does it change the flow of value?
    • 105. 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)
    88
    Understand the supply, demand, and thus, value of Likes as social currency
    See http://bit.ly/rohit-likenomics for Rohit’s take
  • 106. Likenomics evaluation
    89
    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
  • 107. 90
    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)
  • 108. Social Search evaluation
    91
    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.
  • 109. 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
    92
  • 110. Big Data evaluation
    93
    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.
  • 111. 94
    4) Game-ification
  • 112. TurboTax used “games” to encourage sharing and support
    95
    Social design can enter training, collaboration, support, hiring
  • 113. Gamification evaluation
    96
    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.
  • 114. 97
    5) Curation
  • 115. Curation evaluation
    98
    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.
  • 116. Summary of disruptions
    99
  • 117. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 118. Managing Disruption
    101
    Charlene Li
    Altimeter Group
    2011 May 30
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • 119. Strategy Process Stages
    102
    Strategy statement
    • What you will do
    • 120. What you won’t do
    Scenarios development
    • Implementation roadblocks
    • 121. Company and leadership implications
    • 122. Risk identification
    • 123. Build resilience
  • Data on organizations and budgets
    103
    Survey of 140 social strategists from companies with at least 1,000 employees
    Available for download
    http://altimetergroup.com/media_room
    To get slides, email slides@altimetergroup.com
  • 124. Programs are nascent, lacking long-term direction
  • 125. Stem from Marketing or Corporate Communications
  • 126. Limited budgets
  • 127. Understaffed to serve enterprise
  • 128. Five Ways Companies Organize
    108
  • 129. What they intend to focus on in 2011
    109
  • 130. 2. Proving real ROI difficult beyond engagement metrics
  • 131. What’s the Next Big Thing?
    111
  • 132. 112
  • 133. 113
    Identify and prioritizing disruptions that matter
    User Experience
    • Is it easy for people to use?
    • 134. Does it enable people to connect in new ways?
    Business Model
    • Does it tap new revenue streams?
    • 135. Is it done at a lower cost?
    Ecosystem Value
    • Does it change the flow of value?
    • 136. 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)
    114
    Understand the supply, demand, and thus, value of Likes as social currency
    See http://bit.ly/rohit-likenomics for Rohit’s take
  • 137. Likenomics evaluation
    115
    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
  • 138. 116
    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)
  • 139. Social Search evaluation
    117
    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.
  • 140. 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
    118
  • 141. Big Data evaluation
    119
    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.
  • 142. 120
    4) Game-ification
  • 143. TurboTax used “games” to encourage sharing and support
    121
    Social design can enter training, collaboration, support, hiring
  • 144. Gamification evaluation
    122
    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.
  • 145. 123
    5) Curation
  • 146. Curation evaluation
    124
    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.
  • 147. Summary of disruptions
    125
  • 148. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 149. Leading The Open Organization
    127
    Charlene Li
    Altimeter Group
    2011 April 12
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • 150. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 151. 129
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 152. OUT ofCONTROL?
    © 2011 Altimeter Group
  • 153. 131
    © 2011 Altimeter Group
  • 154. 132
    © 2011 Altimeter Group
  • 155. 133
    How to give up control
    but still be in command
    © 2011 Altimeter Group
  • 156. Open Leadership
    134
    Having the confidence and humility to give up the need to be in control,
    while inspiring commitment from people to accomplish goals
  • 157. 10 elements of openness
    135
  • 158. Explaining strategic decisions
    136
    Open book management
    Managing leaks
  • 159. 137
    Updating with every day stuff
  • 160. Kohl’s has conversations on Facebook
    138
  • 161. Open Mic: When people contribute
    139
  • 162. Crowdsourcing new Walkers flavour
    140
  • 163. Open platforms make it easy to partner and share
    141
    Open data access
    Open architecture
  • 164. 142
    Centralized
    Democratic
    Distributed
    Consensus
    Decision making models
  • 165. 170 employees
    100 modules with “module owners”
    One person makes the final decision in each module
    Social technologies make distributed decision making possible
    143
    Manage complex tasks
    Organizing for speed
    • 65,000 employees
    • 166. 16 Councils, 50 Boards make strategic decisions
    • 167. Joint leadership of each group
  • Determine how open you need to be with information to meet your goals
    144
    Openness audit available at http://bit.ly/opennessaudit
  • 168. Complete the Openness Audit
    145
  • 169. Traits of Open Leaders
    146
    Authenticity
    Transparency
  • 170. Transparency as an imperative
    147
  • 171. How Best Buy became open and social
    148
  • 172. Best Buy’s First Social Media Experts
    149
    Steve Bendt & Gary Koelling
  • 173. The Executive Advocate
    150
    Barry Judge CMO of Best Buy
  • 174. Barry’s first post
    151
  • 175. The Premier Black Fiasco
    152
    6.8 million emails sent instead of 1,000 test
  • 176. Developing Open Leaders
    © 2010 Altimeter Group
  • 177. “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
    © 2010 Altimeter Group
  • 178. 155
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • 179. #1 Create a Culture of Sharing
    156
  • 180. #2 Discipline is Needed to Succeed
    157
    Take reasonable action to fix issue and let customer know action taken
    Negative
    Positive
    Yes
    Yes
    No
    Assess the message
    Evaluate the purpose
    Do you want to respond?
    Does customer need/deserve more info?
    No
    Yes
    Unhappy Customer?
    No Response
    Yes
    Are the facts correct?
    Gently correct the facts
    No
    Yes
    Yes
    No
    No
    Can you add value?
    DedicatedComplainer?
    Are the facts correct?
    No
    Yes
    Explain what is being done to correct the issue.
    Is the problem being fixed?
    © 2011 Altimeter Group
    Respond in kind & share
    Thank the person
    Comedian Want-to-Be?
    Yes
    No
    Yes
    Adapted from US Air Force Comment Policy
    Let post stand and monitor.
  • 181. Five ways companies organize around social media
    158
  • 182. #3 Ask the Right Questions about Value
    159
    “We tend to overvalue the things we can measure, and undervalue the things we cannot.”
    - John Hayes, CMO of American Express
    © 2011 Altimeter Group
  • 183. The new lifetime value calculation
    • Percent that refer
    • 184. Size of their networks
    • 185. Percent of referred people who purchase
    • 186. Value of purchases
    + Value of purchases
    • Cost of acquisition
    ____________________
    = Customer lifetime value
    + Value of new customers from referrals
    + Value of insights
    • Percent that provide support
    • 187. Frequency and value of the support
    + Value of support
    + Value of ideas
    Spreadsheets for all calculations available at open-leadership.com
  • 188. 35% increase in LTV captured
    161
  • 189. Find more fans with large networks
    Encourage fans to make more referrals
    Make decisions with metrics
    162
  • 190. No relationships are perfect
    Google’s mantra:“Fail fast, fail smart”
    #4 Prepare for Failure
    163
    © 2011 Altimeter Group
  • 191. 164
    Create
    Sandbox
    Covenants
    © 2011 Altimeter Group
  • 192. Structure your risk-taking and failure systems to create resilience
    165
    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.
  • 193. 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
    166
  • 194. It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 195. 168
    Give Up Control
    AND STILL BE IN COMMAND
    © 2011 Altimeter Group
  • 196. Charlene Li
    charlene@altimetergroup.com
    charleneli.com/blog
    Twitter: charleneli
    For slides, send an email to slides@altimetergroup.com
    For more information & to buy the book
    visit open-leadership.com
    © 2011 Altimeter Group