The	
  ROI	
  of	
  	
  
Acknowledgement	
  and	
  	
  
Social	
  Innova8on	
  
www.DrNatalieNews.com	
  
	
  
	
  
	
  	
...
My	
  First	
  Job:	
  GE	
  	
  
Carbology	
  Division	
  	
  
Tungsten	
  Carbide	
  Tool	
  Bits	
  
To	
  increase	
  the	
  hardness	
  &	
  wear	
  resistance:	
  
Chemical	
  Vapor	
  Deposi?on	
  of	
  Thin	
  Films	
  
Aluminum-­‐Oxide	
  	
  
TiN	
  
The	
  thin	
  films	
  were….	
  
Periodic	
  Chart	
  of	
  Essen?al	
  Elements	
  
The	
  elements	
  we	
  used	
  to	
  make	
  beLer	
  products	
  
A...
In	
  my	
  first	
  mee?ng	
  with	
  
Sales…	
  
&	
  Engineering	
  	
  
The	
  Decision?	
  
More	
  gold	
  	
  
or	
  	
  
more	
  gray	
  
coated	
  tool	
  bits?	
  	
  
Sales	
  said	
  –	
  	
  
“Look	
  at	
  the	
  figures	
  
we	
  are	
  selling	
  more	
  gold	
  ones!	
  
We	
  want	
...
Engineering	
  said	
  –	
  	
  
“But	
  the	
  gray	
  ones	
  last	
  much	
  longer!	
  
We	
  want	
  more	
  gray	
  ...
I	
  raised	
  my	
  hand	
  
and	
  asked…	
  	
  
“Have	
  we	
  asked	
  
our	
  customers	
  
what	
  they	
  want?”	
...
They	
  burst	
  into	
  laughter	
  
“Why	
  would	
  we	
  do	
  that?”	
  
I	
  wanted	
  to	
  crawl	
  under	
  a	
  rock	
  and	
  die	
  
And	
  then	
  I	
  heard	
  my	
  grandpa’s	
  voice,	
  
“You	
  are	
  a	
  smart	
  girl!	
  Trust	
  yourself.”	
  
I	
  asked	
  my	
  boss	
  if	
  I	
  could	
  take	
  
some	
  tool	
  bits	
  	
  
And	
  ask	
  some	
  machinists	
  ...
I	
  asked	
  my	
  boss	
  if	
  I	
  could	
  take	
  
some	
  tool	
  bits	
  	
  
And	
  ask	
  some	
  machinists	
  ...
This	
  was	
  my	
  first	
  mini	
  focus	
  group	
  
vs	
  
The	
  results	
  were…	
  
The	
  customers	
  liked	
  the	
  gold	
  ones	
  
Because	
  they	
  made	
  the	
  	
  
machinists	
  feel…	
  
Because	
  they	
  made	
  the	
  	
  
machinists	
  feel…	
  
Happier.	
  
Yep,	
  Happier.	
  
THAT	
  EXPERIENCE	
  LEFT	
  AN	
  
INDELIBLE	
  MARK	
  
ON	
  A	
  YOUNG	
  ENGINEER	
  	
  
	
  
THE	
  B.I.G.	
  IDEA...
 
ESSENTIAL	
  ELEMENTS	
  OF	
  
A	
  GREAT	
  BUSINESS?	
  
	
  
1.	
  LISTEN	
  TO	
  YOUR	
  EMPLOYEES	
  
&	
  CUSTOM...
 
EMPOWER	
  THE	
  CROWD	
  
	
  
Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved
FLASH	
  FORWARD….	
  
Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved
I	
  GET	
  TO	
  BE	
  PART	
  ...
GO BACK IN TIME…
PEOPLE WERE PREDICTING THIS…
There would be…
A place in time
Where the customer‘s voice
The employee’s vo...
MANY SCHOLARS
HAD ADVOCATED TO
LISTEN TO
CUSTOMERS,
EMPLOYEES,
PARTNERS…
As an engineer I…
Copyright © 2012 @DrNatalie Pet...
MARY	
  ELLEN	
  HEARD	
  THE	
  CALLING…	
  
iRobot	
  
MARY	
  ELLEN	
  BEGAN	
  ACKNOWLEDGING...	
  
• 	
  What	
  her	
  customers	
  were	
  saying	
  in	
  social	
  media	
...
WE	
  CALL	
  THAT…	
  
WE	
  CALL	
  THAT…	
  
The	
  Witness	
  Factor™	
  
MARY	
  ELLEN	
  TOOK	
  
CHARGE	
  OF	
  THE	
  
CUSTOMER	
  /	
  EMPLOYEE	
  
FEEDBACK…	
  
	
  
SHE	
  HAD	
  THE	
  ES...
…to
completely transform business…
With less
–  Politics and resistance
– “Not invented here” or “not my problem”
An empow...
Crowd sourced information
lead to transformation of:
– Engineering
– Product Development
– QA
– Fulfillment
– Order Manage...
How would you calculate ROI?
of customer feedback…
of employee feedback…
Chalk it up to the “Witness” factor
ROI	
  =	
  B...
What are the benefits of
Creating products & services
with input from the “crowd”
Creating products customers asked for me...
AND
Because the customer:
-  Feels heard
-  And they are getting what they need and want…
-  They have ownership towards a...
How would you calculate ROI?
Chalk it up to the “Witness” factor
ROI	
  =	
  Benefits	
  -­‐	
  Costs	
  x	
  100	
  
	
  	...
ROI?
Chalk it up to the “Witness” factor
ROI	
  =	
  $2.5M	
  –	
  $300K	
  x	
  100	
  
	
  	
  	
  	
  	
  	
  	
  	
  	...
NOW	
  LET’S	
  GET	
  BACK	
  TO	
  
THE	
  ROI	
  OF	
  
ACKNOWLEDGEMENT…	
  
THE	
  END	
  OF	
  MY	
  STORY?	
  
PWC
Management
Consultant
A Top Forrester Analyst
Chief Strategist for Social Media & Digital
Communications PR & Marketin...
 
And	
  my	
  dedica?on	
  to	
  the	
  
essen?al	
  elements	
  of	
  
learning,	
  listening	
  and	
  
collabora?ng….	...
Allows	
  me	
  now	
  to	
  help	
  companies	
  calculate	
  the	
  ROI	
  	
  
of	
  things	
  they	
  thought	
  were	...
Dr.	
  Natalie	
  L.	
  Petouhoff	
  
@drnatalie	
  
	
  
For	
  more	
  informa?on	
  on	
  ROI	
  –	
  videos,	
  ebooks,...
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Social Innovation: Dr. Natalie's Speech at the Spigit Conference On Crowd and Customer Empowered Engagement Driving Social Innovation

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This talk is on the ROI of social innovation. How can you calculate the ROI of using social innovation? This speech explores how the ROI of acknowledging your customers, employees - your whole supply chain - can help you to make better products and services and drive down costs and increase revenues.

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Social Innovation: Dr. Natalie's Speech at the Spigit Conference On Crowd and Customer Empowered Engagement Driving Social Innovation

  1. 1. The  ROI  of     Acknowledgement  and     Social  Innova8on   www.DrNatalieNews.com             @drnatalie   Social  Innova8on   Conference  
  2. 2. My  First  Job:  GE     Carbology  Division     Tungsten  Carbide  Tool  Bits  
  3. 3. To  increase  the  hardness  &  wear  resistance:   Chemical  Vapor  Deposi?on  of  Thin  Films  
  4. 4. Aluminum-­‐Oxide     TiN   The  thin  films  were….  
  5. 5. Periodic  Chart  of  Essen?al  Elements   The  elements  we  used  to  make  beLer  products   Aluminum-­‐Oxide    TiN  
  6. 6. In  my  first  mee?ng  with   Sales…  
  7. 7. &  Engineering    
  8. 8. The  Decision?   More  gold     or     more  gray   coated  tool  bits?    
  9. 9. Sales  said  –     “Look  at  the  figures   we  are  selling  more  gold  ones!   We  want  more  gold  ones  to  be  produced!”    
  10. 10. Engineering  said  –     “But  the  gray  ones  last  much  longer!   We  want  more  gray  ones!”    
  11. 11. I  raised  my  hand   and  asked…     “Have  we  asked   our  customers   what  they  want?”  
  12. 12. They  burst  into  laughter   “Why  would  we  do  that?”  
  13. 13. I  wanted  to  crawl  under  a  rock  and  die  
  14. 14. And  then  I  heard  my  grandpa’s  voice,   “You  are  a  smart  girl!  Trust  yourself.”  
  15. 15. I  asked  my  boss  if  I  could  take   some  tool  bits     And  ask  some  machinists  their  opinion  
  16. 16. I  asked  my  boss  if  I  could  take   some  tool  bits     And  ask  some  machinists  their  opinion   He  said,  “Yes,  but   check-­‐out.  I’m  not   paying  you  for  this   8me.”  
  17. 17. This  was  my  first  mini  focus  group   vs  
  18. 18. The  results  were…   The  customers  liked  the  gold  ones  
  19. 19. Because  they  made  the     machinists  feel…  
  20. 20. Because  they  made  the     machinists  feel…   Happier.   Yep,  Happier.  
  21. 21. THAT  EXPERIENCE  LEFT  AN   INDELIBLE  MARK   ON  A  YOUNG  ENGINEER       THE  B.I.G.  IDEA?   ACKNOWLEDGEMENT  OF  THE   CROWD’S  /  CUSTOMER’S     CONTRIBUTION      
  22. 22.   ESSENTIAL  ELEMENTS  OF   A  GREAT  BUSINESS?     1.  LISTEN  TO  YOUR  EMPLOYEES   &  CUSTOMERS…     2.  CONNECT  PEOPLE     WHO  MAKE  DECISIONS     WITH  PEOPLE  WHO     KNOW  THE  ANSWERS    
  23. 23.   EMPOWER  THE  CROWD    
  24. 24. Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved FLASH  FORWARD….  
  25. 25. Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved I  GET  TO  BE  PART  OF  A  COMMUNITY  THAT  IS   DEDICATED  TO  ACKNOWLEDGING  THAT  THERE   IS  A  BETTER  WAY…  TO  DO  BUSINESS…   THAT’S  ALL  OF  YOU…  
  26. 26. GO BACK IN TIME… PEOPLE WERE PREDICTING THIS… There would be… A place in time Where the customer‘s voice The employee’s voice Would start to mean something… And there would be an enabling technology We are here now… This is your opportunity as businesses… Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved
  27. 27. MANY SCHOLARS HAD ADVOCATED TO LISTEN TO CUSTOMERS, EMPLOYEES, PARTNERS… As an engineer I… Copyright © 2012 @DrNatalie Petouhoff The Social Business Course™ ® © All Rights Reserved GO BACK FURTHER…  
  28. 28. MARY  ELLEN  HEARD  THE  CALLING…   iRobot  
  29. 29. MARY  ELLEN  BEGAN  ACKNOWLEDGING...   •   What  her  customers  were  saying  in  social  media     •   What  employees  were  saying  in  social  media   •   It  was  not  posi?ve       •   She  gathered  screenshots   •   Put  them  in  a  powerpoint     •   Gave  them  to  her  CEO    
  30. 30. WE  CALL  THAT…  
  31. 31. WE  CALL  THAT…   The  Witness  Factor™  
  32. 32. MARY  ELLEN  TOOK   CHARGE  OF  THE   CUSTOMER  /  EMPLOYEE   FEEDBACK…     SHE  HAD  THE  ESSENTIAL   ELEMENTS  TO…   The  CEO  appointed  her  the  lead  
  33. 33. …to completely transform business… With less –  Politics and resistance – “Not invented here” or “not my problem” An empowered crowd of employees & customers- dedicated to make a difference  
  34. 34. Crowd sourced information lead to transformation of: – Engineering – Product Development – QA – Fulfillment – Order Management – Marketing – PR – Advertising – Sales – Customer Service
  35. 35. How would you calculate ROI? of customer feedback… of employee feedback… Chalk it up to the “Witness” factor ROI  =  Benefits  -­‐  Costs  x  100                              Costs    
  36. 36. What are the benefits of Creating products & services with input from the “crowd” Creating products customers asked for means… •  Reducing the cost of PR & Marketing •  Increasing the lead conversion rates •  Reducing the cost of sales •  Reducing returns and/or churn •  Increasing customer lifetime value •  Reduced employee attrition •  Increased employee productivity The So What is…
  37. 37. AND Because the customer: -  Feels heard -  And they are getting what they need and want… -  They have ownership towards a company’s product / services because they had input into -  Having their voice heard / being acknowledged drives engagement… –  Increased positive online ratings –  Increased customer loyalty –  Increased customer advocacy –  Increased customer referrals via WOM –  Increased sales Chalk it up to the “Witness” factor
  38. 38. How would you calculate ROI? Chalk it up to the “Witness” factor ROI  =  Benefits  -­‐  Costs  x  100                              Costs     Benefits:   $2.5M   Costs:     People,  process  &  technology   $300K    
  39. 39. ROI? Chalk it up to the “Witness” factor ROI  =  $2.5M  –  $300K  x  100                              $300K       ROI  =  733%  
  40. 40. NOW  LET’S  GET  BACK  TO   THE  ROI  OF   ACKNOWLEDGEMENT…   THE  END  OF  MY  STORY?  
  41. 41. PWC Management Consultant A Top Forrester Analyst Chief Strategist for Social Media & Digital Communications PR & Marketing Agency Analyst Rankings:   A Ph. D. Engineering From UCLA Instructor at Center for Entertainment, Media and Sports Summer Institutes at UCLAAnderson I pursued a path to continue providing customers the essential elements of business… by believing what my grandpa said…
  42. 42.   And  my  dedica?on  to  the   essen?al  elements  of   learning,  listening  and   collabora?ng….    
  43. 43. Allows  me  now  to  help  companies  calculate  the  ROI     of  things  they  thought  were  too  squishy  or  couldn’t  be  calculated…   ROI  of  Human   Capital   Innova8on   Social  Media…     With  Dynamic   ROI  Visualizer   Calculators   &   Dashboards…  
  44. 44. Dr.  Natalie  L.  Petouhoff   @drnatalie     For  more  informa?on  on  ROI  –  videos,  ebooks,  whitepapers..   www.DrNatalieNews.com/Blog     THANKS  TO  MY     GRANDPA     WHO  LISTENED   &   ACKNOWLEDGED     MY  SMARTS     MY  ROI?     PRICELESS    

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