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iStrategy AMS 2011 | Penny Power, Founder, Ecademy

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iStrategy Amsterdam, 2011 - Penny Power, Founder, Ecademy, Understanding ‘social’ and it’s impact on business leadership and branding (Split Stream Keynote Session, Day 1)

iStrategy Amsterdam, 2011 - Penny Power, Founder, Ecademy, Understanding ‘social’ and it’s impact on business leadership and branding (Split Stream Keynote Session, Day 1)

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  • 1. Understanding ‘social’ and it’s impact on business leadership and branding Penny Power @pennypower #ecademy Building Social Capital Founder of Ecademy.com
  • 2. My background 1998Many mistakesTransactional attitudes do not workTried to make money from the community!
  • 3. Do leaders of businesses understand the word ‘social’?
  • 4. Is this a repeat of ‘customer is king’ but “Our Customer Services department have the patience to look after them”
  • 5. Social Media is that ‘marketing thing’
  • 6. Business leaders are terrified of this ‘social world’ They HAVE to lose their Transactional Mindset I want to sell to you
  • 7. Communities - • Births • Deaths • Marriages
  • 8. Chinese proverb “To know and not to do is not YET to know”
  • 9. Lessons being learned by CEO’s the hard way
  • 10. “I’d like my life back” – a defining moment
  • 11. Beyond customer service – this message taught us allthat… It is not about YOU, it is about US Communities of people are asking for something but not everyone is listening to them
  • 12. Corporate’s speak with their heads • Consumers and Small Businesses listen with their hearts
  • 13. This goes way beyond ‘engagement’ • Engagement is a TASK • It can be fake • It can be delegated • Building Communities is a shared value and a reason for existing • Building communities creates a new form of capital in a company • Social Capital
  • 14. ‘Communities’ are a brands unfair advantage • Very different to a network • Two way communication • Listen, adapt, innovate, survive, thrive • Forgive • Loyal • Belonging • Family • Shared values • Advocacy
  • 15. Creating our ‘shared values’
  • 16. Safe and Supported
  • 17. My lessons
  • 18. My lessons • Communities don’t want to be transacted with
  • 19. My lessons • Communities don’t want to be transacted with • They only want to be supported
  • 20. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda
  • 21. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them
  • 22. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them • They want a lot for free
  • 23. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them • They want a lot for free • They have an enormous power
  • 24. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them • They want a lot for free • They have an enormous power • They are very hard to monetize
  • 25. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them • They want a lot for free • They have an enormous power • They are very hard to monetize • You cannot see them as customers
  • 26. My lessons • Communities don’t want to be transacted with • They only want to be supported • They want their own agenda • You cannot control them • They want a lot for free • They have an enormous power • They are very hard to monetize • You cannot see them as customers • Loyalty means they will criticize
  • 27. But they are very powerful for your brand They build yourSocial Capital
  • 28. Social Capital is the glue in which to build a brand andcreate followers Create your Social Capital Image taken from Alison Mitchell Liverpool University
  • 29. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Create your Social Capital Image taken from Alison Mitchell Liverpool University
  • 30. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Shared norms of behaviour Create your Social Capital Image taken from Alison Mitchell Liverpool University
  • 31. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Shared norms of behaviour Create your Social Capital Effective communicati on channels Image taken from Alison Mitchell Liverpool University
  • 32. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Shared norms of behaviour Create your Social Capital Effective communicati on channels Image taken Formal and from Alison Informal Mitchell networks Liverpool University
  • 33. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Shared norms of behaviour Create your Social Capital Reciprocity and Effective mutuality communicati on channels Image taken Formal and from Alison Informal Mitchell networks Liverpool University
  • 34. Social Capital is the glue in which to build a brand andcreate followers Shared Commitment to belonging Trust Shared norms of behaviour Create your Social Capital Reciprocity and Effective mutuality communicati on channels Image taken Formal and from Alison Informal Mitchell networks Liverpool University
  • 35. The power of unconditional Love as a child Now we have to engage support and care with no conditions and no hidden agenda
  • 36. “I support my friends”
  • 37. “I support my friends” TJ – aged 13 – 600 in network
  • 38. “I support my friends” TJ – aged 13 – 600 in network Ross – aged 16 800 in network
  • 39. “I support my friends” TJ – aged 13 – 600 in network Ross – aged 16 800 in network Hannah – aged 18 3000 in network
  • 40. The trick is to learn how to monetize social capital • What are the problems that your community members have? • What do they want YOU to serve them? • What are their needs that you can support? • Who else do you need to collaborate with to solve problems for them? • What is it that your community values about you?
  • 41. Creating followers "the goal is NOT to sell what you have to people who need what you have………… The goal is to get people to BELIEVE WHAT YOU BELIEVE” Simon Sinek ‘Start with WHY’
  • 42. "If you want to build a ship, dont drum up the people togather wood, divide the work,and give orders. Instead, teachthem to yearn for the vast and endless sea” Antoine De Saint-Exupery,  Author of The Little Prince.
  • 43. Building Community requires • Devotion • Heart • Passion • Understanding • Belief • Thought leadership • Empathy • Inter-dependence
  • 44. Community building will become a ‘Boardroom’ priorityGlobalization has given the shareholders too much choice – when an economy is not thriving they move awayCSR is just a line on a P&L, not led with passionCSR is legally expectedLegal obligation has taken away the competitive advantage of being a ‘good’ companyLeaders have to decide who they care for and whyLeaders will need to communicate and show that they careLeaders will have to lead with their heart!!!!
  • 45. Community building will become a ‘Boardroom’ priority Corporate Social Responsibility has broken down the ‘free will’ of caringGlobalization has given the shareholders too much choice – when an economy is not thriving they move awayCSR is just a line on a P&L, not led with passionCSR is legally expectedLegal obligation has taken away the competitive advantage of being a ‘good’ companyLeaders have to decide who they care for and whyLeaders will need to communicate and show that they careLeaders will have to lead with their heart!!!!
  • 46. The economic benefits of social capital growth • Reduces transaction costs • Buyers come to buy • Creates new forms of information exchange • Increases innovation/live R&D • Increases loyalty to the brand • Creates a ‘connection’ • Provides feedback • Ensures engagement
  • 47. Where do you start?
  • 48. Where do you start? • Brands need to understand the demographic they serve and the needs of that demographic
  • 49. Where do you start? • Brands need to understand the demographic they serve and the needs of that demographic • The board needs to agree on their shared values
  • 50. Where do you start? • Brands need to understand the demographic they serve and the needs of that demographic • The board needs to agree on their shared values • Recruitment has to include these shared values
  • 51. Where do you start? • Brands need to understand the demographic they serve and the needs of that demographic • The board needs to agree on their shared values • Recruitment has to include these shared values • The company must seek to provide greater contribution to the local or global communities
  • 52. How Ecademy achieves this
  • 53. How Ecademy achieves this • We listen and engage across all platforms
  • 54. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging
  • 55. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline
  • 56. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s
  • 57. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize
  • 58. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share
  • 59. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random
  • 60. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random • We encourage shared values
  • 61. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random • We encourage shared values • We take responsibility
  • 62. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random • We encourage shared values • We take responsibility • We ‘parent’
  • 63. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random • We encourage shared values • We take responsibility • We ‘parent’ • We are a family
  • 64. How Ecademy achieves this • We listen and engage across all platforms • We are embedded in the community through the blogs and messaging • We meet offline • We understand the plight and lives of SME’s • We empathize • We share • We are open and encourage random • We encourage shared values • We take responsibility • We ‘parent’ • We are a family “Community First, Transaction Second”
  • 65. Seeking solutions together within an SME Community
  • 66. Thank you everyone 223 comments 7,582 views
  • 67. The taxi driver
  • 68. The banks as a case study • Will they return to relationship banking OR
  • 69. Will the social networks become banks….
  • 70. Relationship algorithms
  • 71. Klout, Peer Index, Empire Avenue
  • 72. Klout, Peer Index, Empire Avenue
  • 73. Klout, Peer Index, Empire Avenue
  • 74. Klout, Peer Index, Empire Avenue Social Capital games for measuring influence Are they just games??
  • 75. The power of having followers and influence Followers grow your social capital • Your ability to innovate • Your reputation • Your brand • Your sense of belonging • Loyalty to the brand • Advocacy • Your market position • They talk about you
  • 76. Creating ‘followers’ is a different skill set and a differentintention intention
  • 77. Does the Pillow Man sell Pillows OR
  • 78. “Does he sell the beauty and gift of sleep “
  • 79. Would you follow someone who sells pillows? • Would you follow someone who wants to improve sleep for all?
  • 80. The social world demands intention to be for the goodof all • What good is a brand doing? • How does it improve the lives of others? • Why are they worthy of being followed? • What do I gain by following their message? • What do my followers gain?
  • 81. Are you transactional? I want to sell to you
  • 82. Are you transactional? Suspect I want to sell to you
  • 83. Are you transactional? Suspect I want to sell to you Prospect
  • 84. Are you transactional? Suspect I want to sell to you Prospect Customer
  • 85. Trappingcustomers
  • 86. Are you ‘social’? I love my network of friends
  • 87. Are you ‘social’? Stranger I love my network of friends
  • 88. Are you ‘social’? Stranger Friend I love my network of friends
  • 89. Are you ‘social’? Stranger Friend I love my network of Follower friends
  • 90. Social thinking Attract Followers
  • 91. Maslow – hierarchy of needs
  • 92. Maslow – hierarchy of needs
  • 93. What if you have to have self actualisation first!
  • 94. What if you have to have self actualisation first!
  • 95. Why should this matter in a global economy • Consumers have choice • Consumers share their experience • Followers have passion • Followers share their beliefs
  • 96. Ecademy have created followers around our Manifesto #DBBM
  • 97. My legacy - Social Capital for all
  • 98. A final thought • Social Responsibility of Leaders to enable their staff to build their own brand and networks • Aging population • No job security • Pensions - ????? • Healthcare - ????
  • 99. Social Media Builds your Social Capital Thank you Please stay in touch @pennypower

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