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The Future Of Social Networks

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Presentation at SFAMA, January 12, 2010. Includes new concepts of social context providing relevancy, how to measure social technology benefit using lifetime value.

Presentation at SFAMA, January 12, 2010. Includes new concepts of social context providing relevancy, how to measure social technology benefit using lifetime value.

Published in: Business, Technology

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  • Great Job!
    Check out Taggle Up!-Coming Soon
    www.taggleup.com
    meet.share.tag.-Social Networking with a Twist
    youtube-taggleup
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  • people like to do same thing in social networking site (virtual world) what they were doing in real world. If look at the evolution of social site and features it is quite evident. Normally people’s have their own group they hang out they look at hoarding and walls for information and to put advertisement.
    http://java-pallab.blogspot.com/2011/08/my-wall-is-my-hoarding.html
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  • I love the 'Fail fast, fail smart' slide. I completely agree with that
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  • nice to pursue this conversation :)
    Dell has probably one of the success stories of sales generated through social networks: http://mashable.com/2009/12/08/dell-twitter-sales/.
    Effectively you don't spend your time talking about brand on facebook. But if you are happy of a product you can recommand it and inversely you can condamn it online and share permanently your experience. And even if it is not applicable to all products and brand, it is for many ones. As an example, consider films. If you like or hate a film you will probably share it online and you will have an influence on your friend on going to see it or not (example: http://mashable.com/2009/08/24/twitter-inglourious-basterds/). Then many customers are looking for online opinions or reading commentaries on products before purchasing it or to make a choice between different products.
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  • 'online conversation about its products', 'links with its customers': nice concepts in theory, great Ph.D topics, but extremely scarce in real life. Bear in mind: social networks are flooded with sales offers, not purchase interests. When I 'hang around' with my friends in Facebook, we don't talk about products. Of course, there are business-minded social networks, alas flooded with sellers instead of buyers. My comments stem from many years of social networking: not a single sales lead was generated through it
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  • The more you fill in, the more context to your customers.
  • The key is to focus on the relationships and connections that are enabled, not the technologies. Think about the kind of relationship that you want. Do you want it to be short term and transaction, or long-term and intimate?To help you think about this, I have a simple idea.
  • Transcript

    • 1. The Future Of Social Networks
      Charlene Li
      Altimeter Group
      January 12, 2010
      1
      San Francisco AMA
    • 2. 2
      Agenda
      How to think about the future
      What you should do about it
    • 3.
    • 4. Social networks will be like air.
    • 5. Universal sign-in
      5
    • 6. 6
      Facebook Connect extends
      See what friends read/comment on
    • 7. Import friends into the experience
      7
    • 8. Social moves into enterprise apps
      Salesforce Chatter
      LinkedIn in Lotus Notes
      8
    • 9. Share updates back and forth
      9
    • 10. Social on TV and television sets
      10
      Conversation around news events
      Verizon FiOS integrates Facebook & Twitter
    • 11. Mobile making in-roads
      11
      And sends an ad
      Foursquare “gestures” to friends
      Gowalla gestures to everyone
    • 12. Using social context to create relevance
      12
      Place
      Data
      Ideas
      Items
      Location & Objects
      Asynchronous
      Real-time
      Intention
      Time
      Facebook
      OpenSocial
      People
    • 13. 13
    • 14. Socialgraphics
      14
      Demographic
      Geographic
      Psychographic
      Behavioral
      Socialgraphics
    • 15. Engagement Pyramid
      15
    • 16. 16
      There’s now a culture of sharing
    • 17. Define Goals by Objective
      17
    • 18. How To Prepare
    • 19. #1 Focus on relationships, not technologies
      What kind of relationship do you want?
      Transactional
      Occasional
      Impersonal
      Short-term
      Passionate
      Constant
      Intimate
      Loyal
    • 20. Obama redefined political campaigns
      20
    • 21. #2 Measure the right things
      Your goals determine your metrics
      Use the same metrics as your strategic goals
    • 22. Example “micro” metrics
    • 23. Measuring lifetime value in a new way
      23
      • Percent that refer
      • 24. Size of their networks
      • 25. Percent of referred people who purchase
      • 26. Value of purchases
      + Value of purchases
      - Cost of acquisition
      + Value of new customers from referrals
      + Value of insights
      + Value of support
      + Value of ideas
      = Customer lifetime value
      • Percent that provide support
      • 27. Frequency and value of the support
    • #3 Create new workflows
      Social technologies will disrupt traditional organization structures
    • 28. Social pressures traditional orgs
    • 29. 26
      Ties these comments back to customers
    • 30. 27
      #4 Be Ready To Give Up Control
    • 31. Openness requires accountability
      The Sandbox Covenant
      28
    • 32. The Red Cross handbook/policies help keep order
      http://sites.google.com/site/wharman/social-media-strategy-handbook
      29
    • 33. #5 Fail fast, fail smart
      30
      Identify the top 5-10 worst case scenarios.
      Develop mitigation and contingency plans.
      Encourage risk taking and forgive failures.
    • 34. Wal-mart failed many, many times
      31
    • 35. Buyer blog hit the right note
    • 36. 33
      Summary
      Social networks will be like air.
      Use social context to create relevancy.
      Be ready to give up control – you have no choice.
    • 37. 34
      34
      Thank you
      Charlene Li
      charlene@altimetergroup.com
      blog.altimetergroup.com
      Twitter: charleneli

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