Social Media Strategy, HSM Mexico
 

Social Media Strategy, HSM Mexico

on

  • 3,648 views

Presentation by Charlene Li on 24 May 2011 for HSM Mexico in Guadalajara, Jalisco, Mexico

Presentation by Charlene Li on 24 May 2011 for HSM Mexico in Guadalajara, Jalisco, Mexico

Statistics

Views

Total Views
3,648
Views on SlideShare
3,614
Embed Views
34

Actions

Likes
10
Downloads
90
Comments
1

3 Embeds 34

http://rapgenius.com 31
http://www.linkedin.com 2
http://paper.li 1

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • MUST INCLUDE
  • 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.facebook.com/DosEquis?sk=wall&filter=2http://www.csnews.com/top-story-dos_equis_clicks_with_1m_facebook_fans-57975.htmlDosEquis’ Facebook page features their highly popular “Most Interesting Man in the World” campaign and their posts often generate thousands of likes and hundreds of comments. It’s a good example of a company expanding a brand into a new market (95% of Facebook likes come from the US) and using social media to increase the reach and engagement of a traditional media campaign. #dialog#facebook#foodbev#media#ad#LATAM#mexico
  • http://www.mundo-contact.com/index.phphttp://twitter.com/#!/mundocontacthttp://www.facebook.com/mundocontact?sk=wall&filter=2(additional links)http://www.youtube.com/mundocontacthttp://www.linkedin.com/groups?home=&gid=1755057&trk=anet_ug_hmhttp://www.slideshare.net/mundocontactMundo-Contact frequently posts news articles and blog post-style notes on Facebook to demonstrate their own knowledge of the industry and fascilliate learning among their clients, but they do not allow comments on Facebook or @reply to users on Twitter. In this respect, it’s great that they’re engaging in the space, but they’re missing a key element that could translate into greater added value for them – a two-way dialog instead of a public announcement system. That said, they’re succeeding extremely well in spreading content across multiple channels: Facebook, Twitter, LinkedIn (corporate group with 379 members), YouTube (channel with 171 uploads and 13 favorites), Slideshare (126 presentations, 3 documents), Flikr (197 galleries). They’re talking, but are they listening?About us (Translated from Viadeo Page)Contact World is a company whose executives have extensive industry presence in the Information Technology and Communications (ICT), the contact center, CRM, Marketing and Social Media, which has consolidated an extensive market knowledge and strengthen its development dynamics. Also, contact with the market has allowed it to form a database of more than 40,000 industry executives records linked to the industry, the product of congresses, seminars, publishing a journal, and the 1st . Portal specializes in Latin America.Contact World offers specific routing to the target market for companies providing the best conditions of efficiency and profitability in the efforts of image, brand presence, promotion and sales.#media#LATAM#mexico#b2b#twitter#facebook#fail
  • http://twitter.com/#!/BancoCentralBRhttp://bcb.gov.br/The Central Bank of Brazil uses their twitter account to share articles and establish themselves as a primary source of information in the financial sector, but they do not @ reply or engage with their followers directly.
  • http://www.facebook.com/interrailnet?sk=wall&filter=2
  • http://www.facebook.com/ernstandyoungcareers?sk=wall&filter=120110330#charlene#facebook#b2b#dialog#hr#recruitment
  • http://www.socialtext.com/customers/casestudy_iss.phpUsing workspaces inside Socialtext, employees were encouraged to share key documentation around processes, policies, and customer issues. As people update critical business content, they share their work over Socialtext Signals, a secure enterprise microblogging application. Signals has the same look and feel as Facebook's News Feed. After people share a message, they can have a threaded conversation with their colleagues around that piece of content. More significantly, everyone sees this open Question & Answer. So if someone in a different ISS Mexico office had the same question about the paint, they wouldn't have to burden the warehouse with extraneous e-mail communication, answering the same thing over and over. Signals also allows for more fine-tuned information sharing. So in addition to sharing with the entire company, ISS Mexico's social intranet has groups such as IT, Facilities, Executives, Sales and Marketing. They can share a Signal and corresponding with one group, or all of them.#community#dialog#support#socialtext#intranet#mexico#LATAM
  • http://wearesocial.net/tesco/http://blog.clothingattesco.com/category/clothing-at-tesco-loves/
  • http://synthesio.com/corporate/wp-content/uploads/2011/02/synthesio-social-media-in-latin-america.pdfFrom January to April of 2010, for the launch of their new credit card in the Mexican market, Visa organized a competition calling on participants to show their creativity. Web users had to create a short video showing or explaining why they prefer to pay by credit card rather than cash. Visa developed a platform that united all UGC videos for people to then vote on their favorite. Each week they highlighted the video that had received the most votes and the grand prize winner won a trip for two to South Africa with tickets to the World Cup (Visa was a partner for the event). The social campaign, carried out in Brazil and Colombia, as well, was deemed a success and allowed Visa to gain clients in each of these markets: • 355 fans for the Facebook page « Yopago con Visa débito»• 64 video entries• 28,724 votes• 5,742 votes for the winning video • +19% increase in card payments in Mexico between April and June 201#video#dialog#advocate#campaign#mexico#LATAM
  • http://twitter.com/#!/TELMEXSolucionaTelmex, a Mexican telecommunication GIANT (they own 90% of the telephone lines in Mexico and monopolize the ISP and IPTV markets as well), provides support for customers on Twitter. If they can’t answer a customer’s questions, they either offer them links/phone numbers to contact them or ask for their number and will call them directly. Based on the Tweets I translated, they seem very friendly and professional here.#twitter#support#mexico#LATAM
  • 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.innovationmanagement.se/2010/11/24/innovation-in-south-america/
  • http://www.innovationmanagement.se/2010/11/24/innovation-in-south-america/http://www.globalinnovationindex.org/gii/main/home.cfmAfter almost two months from the moment this ¨Challenge¨ started, let us take a look at some of the results:+ 2,090 ideas+ 83,600 votes+ 39,600 comments+ 35,700 usersven when the Challenge has really been a success South American participation was represented by just 70 ideas (3.33% of the total).Screenshot: http://challenge.ecomagination.com/ct/ct_a_view_idea.bix?c=ideas&idea_id=96D4AF0D-8C26-4CC5-B130-A356FD494621#brazil#latam#innovate#charlene05042011Received 259 comments.
  • 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”.http://mystarbucksidea.force.com/#foodbev#community#innovate#charlene
  • http://area2oh3.com/social-media-tourism-mexico/http://www.utour.travel/utour/home.htmlTourism is Mexico’s third largest contributor to their GDP and tourists are often “highly digitized”. Utour is an application for the iPad and iPod Touch that enriches travelers’ experiences with multimedia, including videos and photos. For example, imagine you are walking around the ruins of Palenque in Mexico. As you view each structure, you can view them as they were originally and even view video of Mayans performing every day rituals in the very same spot you’re standing. Think of it as a virtual walking tour.A mobile app like this is a good example of a technology that is disrupting a long-established industry.#innovate#mobile#app#tourism#mexico#LATAM
  • Define how open well.

Social Media Strategy, HSM Mexico Social Media Strategy, HSM Mexico Presentation Transcript

  • Creating A Coherent Social Media Strategy
    1
    Charlene Li
    Altimeter Group
    2011 May 24
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • 2
  • It’s time to move past experiments
    3
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 5
    Agenda
    Strategy
    Lead
    Prepare
  • 6
    Agenda
    Strategy
    Lead
    Prepare
  • Strategy Process Stages
    7
  • Strategy Process Stages
    8
    Set context
    • Determine key objectives
    • Level of strategy (corporate, biz unit, brand)
    • Identify key metrics
    • Assess readiness
  • Align social with key strategic goals
    9
    Examine your 2011 goals
    Pick ones where social will have an impact
  • Objectives differ by level
    10
  • 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
  • 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.
  • 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
    • Communication
    • Mindset
    • Roles
    • Stakeholders
    • Monitoring
    • Reporting
    • Customer Profile
    • Market Analysis
    • Processes
    • Organizational Model
    • Education
  • Benchmarking Social Readiness (Before)
    14
    December 2009
  • Benchmarking Social Readiness (After)
    15
    April 2010
  • Strategy Process Stages - Discovery
    16
    Collect and prioritize strategic options
    • Metrics-based value assessment
    • Prioritize against objectives
  • Evaluate each initiative
    17
  • Define Your Strategy With Objectives
    18
  • 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
    • Expertise
    • Search results impact
  • Why care about social technologies?
    • 62% read user ratings/reviews for business products/services
    • 62% visit company profiles on social media sites
    • 55% visit company blogs
    • 51% participate in online business communities or forums
    • 49% ask questions on Q&A sites
    • 29% use Twitter to find or request business-related information
    Source: 2009 Business.com Business Social Media Benchmarking Study(n=2,393)
    20
  • People in B2B use social media for work
    21
    Source: 2009 Business.com Business Social Media Benchmarking Study(n=2,393)
  • 22
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • Track brand mentions with basic tools
    23
    What would happen if every employee could learn from customers?
  • Integrate monitoring with workflow
    24
    Other providers
    Alterian
    BrandsEye
    Buzzmetrics Cymfony
    Sysmos
    Visible Tech.
    From Radian 6, to be acquired by Salesforce.com
  • Go beyond basic monitoring to analytics
    25
    Make course corrections nearly real-time.
    Use predictive analytics to anticipate demand.
  • Shoppers want to be “known”
    26
    I walk into the store
    Store knows it’s me
    Give me offers
    And plans my visit
  • Community insight platforms
    27
    • 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
    28
  • Go beyond traditional data to understand your customers
    29
    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
    30
  • Engagement Pyramid
    31
  • Engagement Pyramid - Watching
    32
    Watch videos
    Read blog posts
    Listen to podcasts
    Read tweets
    Read discussion forum posts
  • Engagement Pyramid - Sharing
    33
    Share a link
    Share photos
    Share videos
    Write a status update
    Retweet
  • Engagement Pyramid - Commenting
    34
    Comment on a blog
    Write a review
    Rate a product
    Participate in a discussion forum
    @Reply on Twitter
  • Engagement Pyramid - Producing
    35
    Write a blog
    Create videos or podcasts
    Tweet for an audience
  • Engagement Pyramid - Curating
    36
    Moderate a wiki or discussion forum
    Curate a Facebook fan page
  • Engagement Pyramid Data
    37
    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
    38
  • 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
    39
  • 40
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • Conversations, not messages
    Human, not corporate
    Continuous, not episodic
    The New Normal
    41
  • Blogs establish thought leadership
    42
    CEO Richard Edelman has been blogging consistently since September 2004.
  • Dos Equis surpasses 1 million ‘likes’, uses social media to increase reach
    43
  • Mundo-Contact establishes thought-leadership on Facebook and Twitter
    44
  • The Central Bank of Brazil shares articles on twitter
    45
  • Encourage commenting to get into the Facebook news feed
    46
  • B2B can also use Facebook
    47
    • Develop relationships with job candidates, prospects, and current employees
    • Insert your content into newsfeed of fans
    • B2B is really people to people
  • 48
    Also encourage dialog inside the company
  • ISS connects distributed work-force with social-powered intranet
    49
    “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”
    50
  • 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
    51
  • Tivo joined an existing community
    52
  • 53
    Advocacy – A five-phase approach
  • Tesco engages influencer blogs
    54
    Blog post series highlights & drives traffic to blogs by Influencers. Twitter feed encouages engagement too.
  • Visa’s online video campaign increase card payments 19%
    55
  • 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
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 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
  • Support and Innovate With Your Customers
    59
    Charlene Li
    Altimeter Group
    2011 May 24
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 61
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • Telmex provides customer support on Twitter
    62
  • Ritz-Carlton managers monitor Twitter for real-time service
    63
    Property manager helped unhappy honeymooners
  • DellOutlet supports sales with Twitter
    64
  • Question & Answer sites provide opportunity for support
  • Q&A encourages dialog too
    66
  • iRobot ties discussion boards into customers support
    67
    iRobot escalates unanswered questions into support centers
  • Salesforce.com Service Cloud ties social channels back to customer data
    68
  • Solarwinds’ community is strategic
    69
  • Retailer Best Buy has 2,500 employees providing support via Twitter
    70
  • 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
  • 72
    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
    73
  • P&G uses reviews to improve products
    74
  • GE asked for ideas from around the globe
    75
  • Starbucks involves 50 people around the organization in innovation
    76
    Over 100 ideas have been implemented
  • P&G goes outside for innovation
    77
    P&G made outside-in innovation a priority
  • 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
    78
  • Mobile apps like utour are revolutionizing their industry
    79
  • ModCloth has customers merchandise new products
    80
  • 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
    81
  • Strategy Process Stages
    82
    Strategy statement
    • What you will do
    • What you won’t do
    Scenarios development
    • Implementation roadblocks
    • Company and leadership implications
    • Risk identification
    • Build resilience
  • What’s the Next Big Thing?
    83
  • 84
  • 85
    Identify and prioritizing disruptions that matter
    User Experience
    • Is it easy for people to use?
    • Does it enable people to connect in new ways?
    Business Model
    • Does it tap new revenue streams?
    • Is it done at a lower cost?
    Ecosystem Value
    • Does it change the flow of value?
    • 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)
    86
    Understand the supply, demand, and thus, value of Likes as social currency
    See http://bit.ly/rohit-likenomics for Rohit’s take
  • Likenomics evaluation
    87
    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
  • 88
    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
    89
    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
    90
  • Big Data evaluation
    91
    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.
  • 92
    4) Game-ification
  • TurboTax used “games” to encourage sharing and support
    93
    Social design can enter training, collaboration, support, hiring
  • Gamification evaluation
    94
    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.
  • 95
    5) Curation
  • Curation evaluation
    96
    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.
  • Summary of disruptions
    97
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • Leading The Open Organization
    99
    Charlene Li
    Altimeter Group
    2011 May 24
    Twitter: @charleneli
    Email: charlene@altimetergroup.com
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 101
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • OUT ofCONTROL?
    © 2011 Altimeter Group
  • 103
    © 2011 Altimeter Group
  • 104
    © 2011 Altimeter Group
  • 105
    How to give up control
    but still be in command
    © 2011 Altimeter Group
  • Open Leadership
    106
    Having the confidence and humility to give up the need to be in control,
    while inspiring commitment from people to accomplish goals
  • 10 elements of openness
    107
  • Explaining strategic decisions
    108
    Open book management
    Managing leaks
  • 109
    Updating with every day stuff
  • Kohl’s has conversations on Facebook
    110
  • Open Mic: When people contribute
    111
  • Crowdsourcing new Walkers flavour
    112
  • Open platforms make it easy to partner and share
    113
    Open architecture
    Open data access
  • 114
    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
    115
    Manage complex tasks
    Organizing for speed
    • 65,000 employees
    • 16 Councils, 50 Boards make strategic decisions
    • Joint leadership of each group
  • Determine how open you need to be with information to meet your goals
    116
    Openness audit available at http://bit.ly/opennessaudit
  • Complete the Openness Audit
    117
  • Traits of Open Leaders
    118
    Authenticity
    Transparency
  • Transparency as an imperative
    119
  • How Best Buy became open and social
    120
  • Best Buy’s First Social Media Experts
    121
    Steve Bendt & Gary Koelling
  • The Executive Advocate
    122
    Barry Judge CMO of Best Buy
  • Barry’s first post
    123
  • The Premier Black Fiasco
    124
    6.8 million emails sent instead of 1,000 test
  • Developing Open Leaders
    © 2010 Altimeter Group
  • “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
  • 127
    Agenda
    Strategy
    Learn
    Dialog
    Support
    Innovate
    Lead
    Prepare
  • #1 Create a Culture of Sharing
    128
  • #2 Discipline is Needed to Succeed
    129
    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?
    Unhappy Customer?
    No Response
    Yes
    Are the facts correct?
    Gently correct the facts
    Yes
    No
    No
    No
    Can you add value?
    DedicatedComplainer?
    Are the facts correct?
    Yes
    Yes
    No
    No
    Yes
    Respond in kind & share
    Thank the person
    Comedian Want-to-Be?
    Explain what is being done to correct the issue.
    Is the problem being fixed?
    Yes
    No
    Yes
    Adapted from US Air Force Comment Policy
    Let post stand and monitor.
    © 2011 Altimeter Group
  • Five ways companies organize around social media
    130
  • #3 Ask the Right Questions about Value
    131
    “We tend to overvalue the things we can measure, and undervalue the things we cannot.”
    - John Hayes, CMO of American Express
    © 2011 Altimeter Group
  • The new lifetime value calculation
    • Percent that refer
    • Size of their networks
    • Percent of referred people who purchase
    • 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
    • Frequency and value of the support
    + Value of support
    + Value of ideas
    Spreadsheets for all calculations available at open-leadership.com
  • 35% increase in LTV captured
    133
  • Find more fans with large networks
    Encourage fans to make more referrals
    Make decisions with metrics
    134
  • No relationships are perfect
    Google’s mantra:“Fail fast, fail smart”
    #4 Prepare for Failure
    135
    © 2011 Altimeter Group
  • 136
    Create
    Sandbox
    Covenants
    © 2011 Altimeter Group
  • Structure your risk-taking and failure systems to create resilience
    137
    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
    138
  • It’s about RELATIONSHIPS
    © 2011 Altimeter Group
  • 140
    Give Up Control
    AND STILL BE IN COMMAND
    © 2011 Altimeter Group
  • 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