WITI: Groundswell, the Future Of Social Networks

Groundswell: The Future Of Social Networks Charlene Li Altimeter Group June 16, 2009 If you would like a copy of the slides, please leave a business card with me.

Welcome to the Groundswell Where social technologies enable people to get what they need from each other

What company engagement looks like

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

Four strategies, start with Learn

Learn with monitoring tools

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

Cable problems? Who do you call?

BlueShirtNation.com supports Best Buy’s front line employees

Starbucks innovates across the organization

Social networks will be like air

Reviews from people I know Source: Razorfish Note: This is a mock-up, not an actual product

Three things are needed to make social networks like air

Identity – who you are

Contacts - who you know

Activities – what you do

And it’s still very early, so patience is needed

My identity, in context Author, researcher, strategist Chauffeur, cook, play date organizer

Social aggregators can map your relationships Source: 33Across

Map explicit relationships

Identify “Influencers” who are connected AND share

Vendors:

33Across

Lotame

- Rapleaf

Implicit social data fills in the relationship gaps

Aggregators can build rich profiles Who I email the most Who I meet with Who I call What I read and share What sites I visit What I buy Who I know, what I did

Sharing activities to networks Publish reviews from CitySearch to Facebook Both CitySearch and Facebook get behavior and sharing data Bring friends to CitySearch

“ Birds of a feather shop together” “ Lisa” buys on NineWest.com Media6 maps “network neighbors” based on visits to profile sites via browser cookies (no PII involved) 2 1 3 NineWest ads are shown to Lisa’s closest friends, without identifying or involving Lisa

#1 Get the right people on the bus

Find your revolutionaries Lionel Menchaca Dell Ed Terpening Wells Fargo Paula Drum H&R Block

#2 Start small, but start now Tactics Audience Goal Revolutionary

#3 Evaluate where and how social you will be

Identify where social network data and content can/should be integrated into your business

Leverage existing identity and social graphs where your audience already is, e.g. Facebook Connect, Google Connect, LinkedIn

Personally, organize your friends and figure out your personal social strategy

Find your trust agents and partners

“ In Google I trust”, or someone else?

#4 Prepare for a new organization New forms of leadership will be needed

#5 Measure the right things Your goals determine your metrics Use the same metrics as your marketing goals

Example “micro” metrics Goal Metric Value Learn # of customer feedback Impact of faster, better insights Dialog # of people reached # of interactions Awareness Faster, more sales Help # of issues addressed Customer satisfaction Innovate # of implemented ideas Faster, better development

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

#6) Embrace the loss of control Photo: Kantor, http://www.flickr.com/photos/kantor

An essential tool to have

Thank You Charlene Li Altimeter Group [email_address] blog.altimetergroup.com Twitter: @charleneli If you would like a copy of the slides, please leave a business card with me. Copyright © 2009 Altimeter Group