Social Networks for Innovation

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Three sections explain how your company can use social networking to change the economics of innovation and competitiveness: a) how Web 2.0 changes the context of corporate innovation, b) social networks in innovation, c) practice, how to use social networks for innovation

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Social Networks for Innovation

  1. 1. Personalizing and Scaling Innovation with Social Networks Business Innovation Conference Chicago, October 7, 2009 Entire contents © 2008-09 by Christopher S. Rollyson
  2. 2. Agenda Copyrighted material • Environment21 – The context around innovation is transforming fast • Social network innovation – Examples of social network-enabled innovation • Practice – Using social networks for innovation 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 2
  3. 3. Environment21: My Perspective Copyrighted material • 20 years experience as management consultant and line executive • Expertise: disruptive innovation, strategy and transformation • Strategy and execution for game-changers: Java, e-business, SOA, Web 2.0, social networks • Thought leader: 3 blogs in global top 10 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 3
  4. 4. Environment21: Converging Megatrends Change Copyrighted Role and Practice of Innovation material End o Econ f the Ind omy ustri al Innovation Role Session 2 Business and Practice Cases & s Solutions omic ew Econ 2 .0: N hips Web ations l of Re 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 4
  5. 5. Environment21: The Context of Innovation Copyrighted material Industrial Economy Knowledge Economy • 20th century value drivers • 21st century value drivers – Fabrication, products – Customer experience – Efficiency – Novelty, entertainment – Product features – Relationship • Information flow: slow • Information flow: ultra-fast • Life cycles: long • Life cycles: short • Org structure: inflexible due to • Org structure: flexible due to lack of information real-time information • Buying influence: experts • Buying influence: friends • Innovation: intermittent • Innovation: constant Innovation has been the place kicker on the team.. now it’s the linebacker 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 5
  6. 6. Environment21: Web 2.0, the Gateway to People Copyrighted material • Many-to-many • Rich asynchronous • Social ecosystem • Expertise economy Web 2.0 • Real-time, global Blog • Inexpensive Wiki • Specific • Digital, Fast 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 6
  7. 7. Environment21: The Knowledge Economy Copyrighted material • Social networks put everyone online – Low barrier to entry - social networks create context – Relationships discoverable online • Low cost to find, build and manage 2 billion relationships – People are smarter people will be • They have more specific social interactions online by • People can mobilize and build knowledge quickly 2011 • Global is the default – Emerging markets online by default – Emerging markets are where the growth is 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 7
  8. 8. Environment21: Big Idea Copyrighted material Social networks transform the economics of innovation—like the Internet created information and transactions on demand 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 8
  9. 9. Social Network Innovation: Copyrighted Procter & Gamble material Marketing 2.0 highlights “The worst mistake is not • Innovation is a core strategy at P&G – How consumers use products in their lives letting go of control; you – Marketing adds value to products • P&G sources 50% of innovation from outside; have to let people learn, – Crowdsource (chemical) engineering and innovation is a – Intend to do it with marketing • Marketing 2.0 key to innovation different learning process. – Gen Y works this way; they are key to demand – It is contagious; P&G’s blogs began on an old You can approach it this $1,500 server; now they have 200 very active Key insights way if you chunk • P&G is very data and ROI driven; however: investments small.” – ROI is very appropriate for stable processes – Innovation is a different kind of process, so don’t measure it like a manufacturing process – Stan Joosta, Innovation • Make innovation investments in small chunks Manager, P&G • People are making negative comments anyway; you might as well be in contact with it 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 9
  10. 10. Social Network Innovation: Copyrighted CNBC material Highlights This is the perfect • LinkedIn members share CNBC news, blogs and video on LinkedIn collaboration between • LinkedIn community content is broadcast on CNBC CNBC's viewer base of • LinkedIn survey results and on-air Q&A with CNBC anchors and reporters well-educated and Key insights affluent professionals • CNBC content recommended by LinkedIn executives to each other and LinkedIn's powerful • CNBC reporters can query LinkedIn’s executive professional network.” members for news stories • Real-time collaboration – Mark Hoffman, CNBC President 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 10
  11. 11. Social Network Innovation: Copyrighted Mayo Clinic material Highlights “This is a new reality... • Facebook site lets patients connect with each other – Patients tell their stories, in their own words It is how people are – Digitizes the word of mouth that's always happened "over the back fence" communicating now.” • Podcasts of doctors talking about diseases • Co-creating experience – Prospects, patients, employees – Sharing personal experience Key insights • Facebook enables people to affiliate with Mayo as "fans,” developing community – Lee Aase, Manager, • Podcasts are a broad distribution medium Syndications & Social – Enable listeners to access in small chunks Media, Mayo Clinic – Create additional leverage for costly video content 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 11
  12. 12. Social Network Innovation: Copyrighted jetBlue Airways material Highlights “Twitter enables us to • Customers know what!s happening and how to contact jetBlue monitor what’s • Customers have become eyes and ears • jetBlue adjusts and tells people real time happening, to react Key insights and communicate • Define your audience and your voice • Watch and listen to customers and competitors quickly, to inform and • Monitor every blog, but you don't have to to humanize.” respond to everything • Ask for feedback constantly, and plan for the hard questions – Morgan Johnson, • Stay involved; this is a 24/7 proposition Manager Corporate Communications • More: jetBlue social media coverage – http://globalhumancapital.org/?p=215 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 12
  13. 13. Social Network Innovation: Copyrighted Obama iPhone App material Highlights • One-click participation • Supported key business processes • Multimedia – Phone: make calls – Web browsing and email – Video, photos • Twitter, Facebook, LinkedIn, MySpace Key insights • Leverage mobility: people can help from anywhere, at any time • Scale: people share digital artifacts, avoid message dilution More • Reduce cost of engagement • Chunk contributions small Obama social media case study http://globalhumancapital.org/?p=216 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 13
  14. 14. Social Network Innovation: Big Idea Copyrighted material People hold the key to innovation and profitability, but you have to know how to engage them 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 14
  15. 15. Practice: Web 2.0 Principles Copyrighted material 1 • People giving suggestions in a transparent environment work much harder than in closed settings • Even if 0.01% of your customers want to participate, that’s a lot when they are online 2 3 - and they self-select • All customers will give you more credibility 4 when they see the community, even if they don’t participate 5 • Manage the process, make it rewarding • Tell people how you will act on their ideas, why it’s important • Show them how they are making a difference 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 15
  16. 16. Practice: Web 2.0 Product Development/Innovation Copyrighted material • Transparent conversation C CC CC C C C C • Many-to-many, real-time, always-on C C C C O C C • Customer experience focus • Facilitated by Organization O O Engagement + Ideas + Action = Profit 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 16
  17. 17. Practice: Web 2.0 Service Innovation Copyrighted material O O O O • Organization creates or joins community of customers C O O • Show your commitment to helping customers • At a certain point, customers will C C C C C begin helping each other C C CC C C • Your experts highly leveraged in the crowd C C C • Real-time feed of ideas and customer experience Engagement + Ideas + Action = Profit 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 17
  18. 18. Practice: Web 2.0 Value Chain Innovation Copyrighted material O O O O • Organizations attract partners into social network in which they discuss O O O and act on key end customer issues • Address issues that don’t invoke conflicts between partners p p p p p • Don’t overlook frustrations partners p p Op O p have with your administrative or financing processes • Let them share with each other p p p workarounds, and use these transparent interactions to reform Engagement + Ideas + Action = Profit 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 18
  19. 19. Practice: Mix and Collaborate for Best Results Copyrighted material Inside Innovation Outside Innovation • R&D specialists • Customers • Structured • Emergent • Paid • Unpaid Combining inside and outside innovation greatly magnifies your impact 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 19
  20. 20. Practice: Tapping Emergent Global Human Capital Copyrighted material Where you fit in What others the ecosystem can contribute Understanding Core Competency is the key to success with open innovation 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 20
  21. 21. Practice: Big Idea Copyrighted material Experience is the lingua franca of the Knowledge Economy, not products or services—let it be your focus, it leads to profits 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 21
  22. 22. Practice: Resources Copyrighted material • The Social Network Roadmap – Helps companies use Web 2.0 for innovation – http://socialnetworkroadmap.com – Currently rated #1 worldwide by Technorati • The Global Human Capital Journal – CEO/CMO/CIO journal for innovation Microblogs – Currently rated #10 worldwide by Technorati http://twitter.com/eglii – http://globalhumancapital.org http://twitter.com/egtw http://twitter.com/egfb • The Executive’s Guide to Web 2.0 http://twitter.com/csrollyson – EGLI blog currently rated #4 worldwide by Technorati http://twitter.com/snroadmap – EGTW management advice for Twitter, blogging http://plurk.com/user/csrollyson – EGFB management advice for Facebook http://identi.ca/csrollyson – http://executivesguide-web20.com http://kwippy.com/csrollyson http://csrollyson/tumblr.com/ • Social networks http://friendfeed.com/csrollyson – http://www.linkedin.com/in/csrollyson Other – http://www.facebook.com/csrollyson – http://myspace.com/csrollyson skype/IM - csrollyson – http://tinyurl.com/orkut-csrollyson iphone - chris@rollyson.net – http://tinyurl.com/xing-csrollyson iphone +1.312.925.1549 10/27/09 Scaling Innovation with Social Networks | Business Innovation Conference 2009 22

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