Reinventing Your Company in a Customer-Driven Marketplace

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  • A genuine need to help people. Belonging to a community. The thrill of solving problems. It makes them better at their jobs. Motivations of external talent It builds their personal brands. A sense of ownership in the product
  • Reinventing Your Company in a Customer-Driven Marketplace

    1. 1. Keep the Conversation Going! Re-inventing your Company in a Customer-Driven Marketplace REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    2. 3. Key concepts
    3. 4. Person of the Year REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    4. 5. Harnessing Mass Collaboration <ul><li>Compelling story is the technology and community, not the shiny gold metal </li></ul>REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    5. 6. Scientific Exploration
    6. 7. Reinventing Journalism: Building Applications with the Guardian © 2009 Anthony D. Williams.
    7. 8. Culture Change Required
    8. 9. Why Now? Top 5 arguments for Wikibranding Social/Collaboration/Engagement
    9. 10. 1 . The Need for Authenticity and Transparency - 42% 2. The rise of social networks - 38% 3. Increasing role of wireless/mobile - 35% 4. Customers waning attention spans - 25% 5. Media fragmentation - 22% 6. Change in mass marketing effectiveness - 20% Agent Wildfire -The Buzz Report, April 2010 #1 Business Models / Culture: The Need to Be Genuine REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    10. 11. “ Something you Own” “ Something you Trust” “ Something you Want” “ Something you Prefer” “ Something you Love” “ Something you Participate In” #2 The Changing Brand: Participation is the New Currency
    11. 12. “ Brand building today is so different than what it was 50 years ago . 50 years ago you could get a few marketing people in a small room and decide, ‘ this is what our brand will be’, and then spend a lot of money on TV advertising — and that was your brand. Today anyone, whether it is an employee or a customer, if they have a good or bad experience with your company they can blog about it or Twitter about it and it can be seen by millions of people. It’s what they say now that is your brand .” – Tony Hsieh, CEO, Zappos.com Control of Your Brand Changes
    12. 13. <ul><li>1.3 Billion Social Networkers Globally </li></ul><ul><ul><li>Facebook - 640 million, 130 friends each, 1,000+ fans per page </li></ul></ul><ul><ul><li>Wikipedia – 265 million readers. 18 million articles </li></ul></ul><ul><ul><li>Twitter – 190 million, 190 followers each (after 2 yrs) </li></ul></ul><ul><ul><li>LinkedIn – 101 million, 61 friends each, 189 index on post-grad </li></ul></ul><ul><ul><li>YouTube - 144 million unique monthly visitors watch/292 minutes per month </li></ul></ul><ul><ul><li>Flickr – 45 million members/5.0 billion photos </li></ul></ul><ul><ul><li>Foursquare – 8 million users/381 million check-ins </li></ul></ul><ul><ul><li>Amazon – 650 million users annually, $24 billion sales </li></ul></ul><ul><ul><li>GroupOn – 35 million users annually, $500 million sales </li></ul></ul><ul><ul><li>Quora – 600,000 registered users </li></ul></ul>#3 Media Shifts: The World is Connected and Engaged REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    13. 14. Engaged brands drive value +18% Non-engaged brands decrease in value -6% #4 Economics: Engagement Sells REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    14. 15. C-Suite Interest – The CEO's #2 and #3 priorities are customer service and experience; Advertising and promotion rank #12 and #14. #5 It’s what your boss cares about (or should) REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    15. 16. Six Benefits of Wikibranding <ul><li>Brand Advocacy </li></ul><ul><li>Brand Perception </li></ul><ul><li>Brand Content </li></ul>
    16. 17. Six Benefits of Wikibranding 4. Brand Insight 5. Brand Serendipity 6. Brand Support
    17. 18. Channeling Tom Sawyer REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    18. 19. COMMUNITY MANAGEMENT “ who will lead the conversation?”
    19. 20. Organization Hurdles #1 - Company culture #2 - Lack of executive/managerial support #3 - Too controlling #4 - Lack of authenticity/genuine engagement #5 - Lack of community leadership #6 - Ineffective measurement #7 - Lack of relevant skills of people involved #8 - No clear purpose #9 - Lack of ongoing strategy/plan #10 - Lack of investment Source: Agent Wildfire 2010 Community Management Survey REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    20. 21. Organizational Success Factors #1 - The customer/member experience provided Execution #2 - A conversation worthy idea/concept Strategy #3 - Clear objective/mission/value statement Culture #4 - Expert moderation/dialogue management Execution #5 - Great service/responsiveness Execution #6 - A great product/brand Strategy #7 - The quality of the members who participate Execution #8 - The culture of a company Culture #9 - A strong community-building process Execution #10 - Ability to demonstrate value Strategy Source: Agent Wildfire 2010 Community Management Survey REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    21. 22. <ul><li>Leadership/charisma </li></ul><ul><li>Diplomacy/Patience </li></ul><ul><li>Customer/member empathy </li></ul><ul><li>Persistence </li></ul><ul><li>Social/Networking </li></ul><ul><li>Communication Skills </li></ul><ul><li>Technology Skills </li></ul><ul><li>Passion for company/brand </li></ul><ul><li>Change Agent </li></ul><ul><li>Creativity </li></ul><ul><li>Leads the lifestyle of the customer </li></ul>Top Skills of Wikibrand Leaders Source: Agent Wildfire 2010 Community Management Survey REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    22. 23. Key Takeaways <ul><li>Customer expectations are higher than ever </li></ul><ul><li>If you ask for a conversation, you must participate </li></ul><ul><li>Measure the applause not the attendance </li></ul><ul><li>Harness cognitive surplus </li></ul><ul><li>Set up clear rules and expectations for your community programs </li></ul>REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE
    23. 24. Contact Information Mike Dover [email_address] (416) 305-9080 linkedin.com/in/mikedover facebook.com/mike.dover twitter.com/doverd4s REINVENTING YOUR COMPANY IN A CUSTOMER-DRIVEN MARKETPLACE Jay Rosales [email_address] (416) 216-1070 linkedin.com/in/jayrosales facebook.com/drakeinternational twitter.com/drakeinternational
    24. 25. December 1 st , 2011, 12 pm EST to 12:30 pm EST Practical Guidelines on Implementing a Talent Management System >> Presented by David Dineen, National Manager, Drake Talent Management Solutions Register at http://drake-webinars.com

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