A presentation I made for a group of marketing executives from a variety of Swedish companies in February 2011.

1. EXPLORING VALUE CREATION THROUGH SOCIAL MEDIA DR. ROBIN TEIGLAND STOCKHOLM SCHOOL OF ECONOMICS [email_address] WWW.KNOWLEDGENETWORKING.ORG WWW.SLIDESHARE.NET/ETEIGLAND ROBINTEIGLAND

2. "...when the rate of change outside an organization is greater than the rate of change inside, the end is near...." Jack Welch…

4. Human capacity cannot keep up… Growth Time Information and knowledge Human absorptive capacity Adapted from Cohen & Levinthal 1989

6. The wisdom of the crowd Closed Expensive Complex Accurate Open Inexpensive Simple Close enough Hinton 2007 Accurate

7. History tends to repeat itself…. Innovation, financial crisis, industrial revolution, … Steam engine Internal combustion engine Microelectronics Late 18 th C Late 19 th C Late 20 th C Schön 2008 Third industrial revolution?

8. Prensky 2001, Beck and Wade 2004 “ Digital Immigrants” “ Digital Natives” Company loyalty Work ≠ Personal Learning=Behind the desk Individualism Professional loyalty Work = Personal Learning=Fun and games Collectivism

9. http://www.slideshare.net/helgetenno/post-digital-marketing-2009

10. ..using social media to learn, solve problems, and build relationships Adapted from FredCavazza.net

12. Drivers of change Increased Interactivity DiGangi 2010

13. From organization-generated content (OGC) to user-generated content (UGC) Content created by a user to be used by a user Shifting sources of value Content created by an organization to sell to a user Di Gangi 2008

14. Inc 500 companies report success Barnes, 2010 Inc. 500 Update: Most Blog, Friend And Tweet But Some Industries Still Shun Social Media

15. But most ”traditional” companies… … are here Teigland, The Network Survey, 2010 Organizational use Employee use No use Ban use One-way “broadcasting” Allow use Encourage use Two-way conversations

19. Social Media Wiki – one per group http://knowledgenetworking.pbworks.com/w/page/36197617/Social+Media+-+Promotion

21. My Starbucks Idea

22. Lego

23. IKEA http://www.youtube.com/watch?v=0TYy_3786bo

24. >16,000 unique visitors http://www.hhs.se/se/BusinessAndSociety/Press/pressmeddelanden/Pages/aretsaffarskreator2011.aspx

25. http://sararywe.blogspot.com/

26. Groupon

27. http://techcrunch.com/2011/02/10/meeker-mobile-slides/

28. http://techcrunch.com/2011/02/10/meeker-mobile-slides/

29. Social media enable communities

30. Why do people participate? http://www.slideshare.net/vnnw/social-media-marketing-english-edition-4470494

31. Why do people participate?

32. Two individuals/organizations with the same number of contacts… B A

33. … but with very different access to resources B A

34. A High creativity and innovative performance Teigland 2003 B www.youtube.com/watch?v=NugRZGDbPFU Poor creativity and innovative performance

35. Business models So, what happens to them? Johnson, Christensen, and Kagermann 2008, DiGangi 2010

36. They evolve... DiGangi 2010

38. DiGangi 2010

42. http://www.slideshare.net/themoleskin/introduction-to-social-meida?from=ss_embed

46. eZ Philosophy Connecting people who share a passion for something they do so that they can collaborate, share ideas, learn, and create knowledge

47. The backbone of eZ Systems is social media - throughout the value chain

48. eZ provides platforms for interaction throughout its ecosystem eZ Software development team

50. But how to balance needs of community with needs of firm in value co-creation model? DiGangi et al 2010

51. http://www.slideshare.net/themoleskin/introduction-to-social-meida?from=ss_embed

52. Transparency, transparency, transparency http://twitter.com/#!/zappos Core Value #6: "Build Open and Honest Relationships with Communication

53. Some things do not change Innovation Exchange Exchange Trust Trust Relationships Relationships Interaction

54. http://slideshare.net/missrogue "E-connection is processed in the brain like an in-person connection."

55. IBM’s blogging policy & guidance, created by the employees Policies based on IBM’s Business Conduct Guidelines Apply internally and externally Available on ibm.com “ blogging guidelines” Adapted from Poole 2008

56. Management cannot mandate social relationships My company has blocked my computer from accessing most of the social media sites. But I feel so cut off from my network. So, now I just connect through my phone.

58. Communicate competitive landscape What is our strategy? 1. Who are our customers ? 2. What products do we sell? 3. How do we create value? 4. Who are our competitors? https://www.securestate.com/PublishingImages/Competition-(BIG).gif

59. There is nowhere to hide http://www.youtube.com/watch?v=t8XxcOj3Seo Fortune, Rey 2008 Monitor social media sites and react in timely fashion

60. U r always on… http://meritwager.wordpress.com/2009/08/04/fragor-till-forsaljningschefen-pa-fortum-varme/

61. Users create their own meanings Wesch 2008

62. Monitor with social analytics http://analytics.topsy.com/ http://analytics.topsy.com/

63. Who are the Twitter influencers? http://www.briansolis.com/2011/02/the-interest-graph-on-twitter-is-alive-studying-starbucks-top-followers/

64. Word cloud of Starbucks’ top 50,000 consumer profiles http://www.briansolis.com/2011/02/the-interest-graph-on-twitter-is-alive-studying-starbucks-top-followers/

65. A day in the life of a Foursquare user http://www.briansolis.com/2011/01/checking-in-to-the-state-of-foursquare/

66. Social Mobile Location http://www.relenet.com/

67. http://techcrunch.com/2011/02/10/meeker-mobile-slides/

68. http://techcrunch.com/2011/02/10/meeker-mobile-slides/

69. www.rabble.se

71. Just when you thought you got it….. O’Driscoll 2009

73. How many usually think of virtual worlds… Teigland 2010

75. Egypt protests inworld

76. VWs moving out of “Gartner hype cycle” trough Virtual worlds today http://www.gartner.com/it/page.jsp?id=1447613 >1 bln users May 2006 July 2007

77. http://www.slideshare.net/nicmitham/kzero-radar-q1-2011?from=ss_embed

78. Accelerating innovation to meet global needs Teigland et al. 2010 Integrating users in development process http://www.youtube.com/watch?v=2kMNWBU1Yb8

79. Leveraging VW affordances Teigland et al 2010 Simulation Avatar design Multi-modal communication Co-creation Archiving Immersion

82. USD 635,000 for an asteroid! http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-just-made-a-cool-half-million-from-the-sale-of-virtual-property/ USD 500,000 profit in 5 years -Jon “Neverdie” Jacobs

85. Increasing pace of VW development! VWs on stick Browser-based VWs Seamlessness http://www.hypergridbusiness.com/2009/05/hypergrid-101-why-its-good-for-business/ http://mediagrid.org/groups/technology/OFF.TWG/ "Create Once, Experience Everywhere” Expanding uses For smart phones and tablet PCs

88. “ As soon as the Facebook generation wakes up and embraces virtual reality, we are going to see a giant wave of virtual world millionaires” -Jon “Neverdie” Jacobs

90. Karinda Rhode aka Robin Teigland [email_address] www.knowledgenetworking.org www.slideshare.net/eteigland www.nordicworlds.net RobinTeigland Photo: Lindholm, Metro Photo: Nordenskiöld Photo: Lindqvist If you love knowledge, set it free…

91. Interested in learning more ?