Web 2.0 Expo Speech: Open Leadership

Open Leadership: How Social Technology Can Transform The Way You Lead
Charlene Li
Altimeter Group
May 6, 2010
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#openleader

More people visit Facebook than Yahoo!

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It’s aboutrelationships

5
Why is social hard?
Because realrelationships require that you give up control

The need for open leadership
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When people get what they need from each other
“How open do I need to be?

Defining Open Leadership
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Having the confidence and humility to give up the need to be in control,
while inspiring commitment from people to accomplish goals
How to give up control, and be in command

Best Buy’s First Social Media Experts
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Steve Bendt & Gary Koelling

They harnessed Best Buy’s biggest asset
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The Blue Shirts

BlueShirtNation.com supported Best Buy’s front line employees

Steve & Gary had an executive sponsor
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Barry Judge CMO of Best Buy

They kept telling him one thing…
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“Barry, you gotta get a blog!”

Barry’s first post
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“I was so relieved when it was over—it was just two sentences to get started.”

The Premier Black Fiasco
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6.8 million emails sent instead of 1,000 test

Barry’s response
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“…we screwed up the execution which makes me feel sick about the customer trust that we have impacted.”

Openness became a strategy
16
Open market testing of new logo

+2,200 Best Buy employees provide support on Twitter
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Focus on relationships, not technologies
What kind of relationship do you want?
Transactional
Occasional
Impersonal
Short-term
Passionate
Constant
Intimate
Loyal

Four goals define your open strategy, but always start with learn
19

Go beyond traditional customer data
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Demographic
Geographic
Psychographic
Behavioral
Socialgraphic

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Curating
Engagement Pyramid: Focus on Watching and Sharing
Producing
Commenting
Sharing
Watching

Dialog with your community
22

DellOutlet drives sales with Twitter
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Help your members support each other
24

Social moves into enterprise apps
Salesforce Chatter
Service Cloud w/social
LinkedIn in Lotus Notes
25

Innovate with customer feedback
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Starbucks involves 50 people around the organization

What to do first

#1 Align openness with strategic goals
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Examine your 2011goals
Pick one where open and social can have an impact

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#2 Understanding the value
“We tend to overvalue the things we can measure, and undervalue the things we cannot.”
- John Hayes, CMO of American Express
Value of +5 million fans?

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
Learn more: Webinar this Friday 5/7 bit.ly/openleaderweb2

#3 Understand how open you need to be
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Determine how open you need to be to meet your goals
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#4 Find and develop you open leaders
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Collaborative
Independent
Optimist
Pessimist

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#5 Prepare your organization
Ideally, you should be at “4.0” for launch.
Area of opportunity.

Social media triage
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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
Let post stand and monitor.

Create a culture of sharing

#^ Embrace failure
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Buyer blog hit the right note
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Manage risk with Sandbox Covenants
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What the future will bring
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Social networks will be like air

Focus on relationships.
Align your social strategy with strategic goals.
Support open leaders in your organization.
Be prepared for failure – you’ll encounter many.
Summary
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Thank you
Charlene Li
charlene@altimetergroup.com
charleneli.com/blog
Twitter: charleneli
For slides, send an email to slides@altimetergroup.com
Learn more and buy the book atopen-leadership.com

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Web 2.0 Expo Speech: Open Leadership

by Charlene Li on May 09, 2010

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Web 2.0 Expo Speech: Open Leadership — Presentation Transcript