Stanford Breakfast: Creating Winning Social Media Strategies

Creating Winning Social Media Strategies
Charlene Li
Altimeter Group
September 9, 2009
For a copy of slides, send an email to info@altimetergroup.com

What engagement often looks like today
2

Meet Dave Carroll
Source: davecarrollmusic.com

Welcome to the Groundswell
5
When people get what they need from each other
A power shift, catalyzed by social technologies

Technologies can be confusing
Source: Wordle.net

It’s about the relationship

Focus on relationships, not technologies
What kind of relationship do you want?
Transactional
Occasional
Impersonal
Short-term
Passionate
Constant
Intimate
Loyal

Goals define your strategy

Always start with Learn

Learn with monitoring tools

Radian6 enables learning organizations

How Oracle encouraged feedback
13

Dialog with your community

The Engagement Pyramid

HP actively encourages sharing

At Southwest, a planner talks
Post received 98 comments over 10 days
In the future, everyone is a marketer

Driving sales with Twitter

Help your members support each other

Comcast provides support via Twitter

Goals define your strategy

Starbucks innovates across the organization

Getting started
What’s stopping you?
“We don’t have the time, money, or people.”
“People will abuse it.”
“Our boards/volunteers are short-term focused.”
“IT/Legal won’t let us.”
“I’m afraid of losing control.”

#1 Start small, start now
Audience
Goal
Revolutionary

Deal with different mindsets
Find the “moments of truth” and “moments of crisis” for each mindset

Wal-mart failed many, many times before they figured it out

#2 Measure the right things
Your goals determine your metrics
Use the same metrics as your strategic goals

Example “micro” metrics

Higher order metrics to consider
Net Promoter Score
How likely are you to recommend this to someone you know?
Lifetime Value
Lifetime revenue
Cost of acquisition
Cost of retention
Customer referral value (CRV)

#3 Give up the need to be in control
Photo: Kantor, http://www.flickr.com/photos/kantor

Deciding how open to be
31

How to give up control and be in command
The Sandbox Covenant

The Red Cross handbook/policies help keep order
http://sites.google.com/site/wharman/social-media-strategy-handbook

Summary
Focus on the relationships, not the technologies
Start by learning from the conversations
Prepare to let go …
… of the control you never had

http://www.marketing-pub.fr	21
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Stanford Breakfast: Creating Winning Social Media Strategies

by Charlene Li

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