Keynote: Invest in Scalable Social Business Programs
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Keynote: Invest in Scalable Social Business Programs

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Companies must invest in five scalable programs: 1) Get into Hub and Spoke and develop a Center of Excellence 2) Leverage community for first tier marketing and support 3) Integrate both in the ...

Companies must invest in five scalable programs: 1) Get into Hub and Spoke and develop a Center of Excellence 2) Leverage community for first tier marketing and support 3) Integrate both in the customer lifecycle as well as your corporate website 4) Launch a formalized advocacy program 5) Invest in Social Media Management Systems before you lose control.

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  • = ENTREPRENEURS WANTED =

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  • A great presentation which show where social media is headed.
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Keynote: Invest in Scalable Social Business Programs Keynote: Invest in Scalable Social Business Programs Presentation Transcript

  • Image by gsfc used with Attribution as directed by Creative Commons http://www.flickr.com/photos/gsfc/4422729133© 2010 Altimeter Group 2011 Altimeter Group
  • Image by gsfc used with Attribution as directed by Creative Commons http://www.flickr.com/photos/gsfc/4422729133 The World Changed© 2010 Altimeter Group 2011 Altimeter Group
  • 3 An Open Leader Emerges© 2010 Altimeter Group
  • Image by coreburn used with Attribution as directed by Creative Commons http://www.flickr.com/photos/coreburn/487357814 Internal Storms Hinder Progress© 2010 Altimeter Group 2011 Altimeter Group
  • 5 Compounding Demands Compounding Demands© 2010 Altimeter Group
  • Image by iandavid used with Attribution as directed by Creative Commons http://www.flickr.com/photos/iandavid/3532086917 What is the future?© 2010 Altimeter Group 2011 Altimeter Group
  • Image by carl-w-heindl used with Attribution as directed by Creative Commons http://www.flickr.com/photos/carl-w- heindl/3667334884/ 7 Path 1: Grounded to Social Media Help Desk© 2010 Altimeter Group
  • Image by carl-w-heindl used with Attribution as directed by Creative Commons http://www.flickr.com/photos/thirty_and_three/426973571 8 Path 2: Achieve Escape Velocity© 2010 Altimeter Group
  • 9 Building Your Social Strategy: Prioritizing Efforts for ScaleFor Bazaarvoice Social Commerce SummitApril 5, 2011Jeremiah OwyangIndustry Analyst and Partner
  • 10 Open Research: Use and share with attribution Available for download at www.altimetergroup.com/media-room© 2010 Altimeter Group
  • 11 Agenda Path 1: Path 2: Grounded to Social Achieve Escape Media Help Desk Velocity with Scalable Programs© 2010 Altimeter Group
  • Image by carl-w-heindl used with Attribution as directed by Creative Commons http://www.flickr.com/photos/carl-w- heindl/3667334884/ 12 Path 1: Grounded to Social Media Help Desk© 2010 Altimeter Group
  • 13 Most programs have existed less than 3 years, with the average at just under 2 years old© 2010 Altimeter Group
  • 14 41% of programs are reactive to requests© 2010 Altimeter Group
  • 15 Strategists work with limited budgets – averaging just $833,000 for all corporations© 2010 Altimeter Group
  • 16 Relegated to the “Social Media Help Desk” The Situation The Problem  Customers become  With limited resources, accustomed to “yelling companies can‟t scale 1:1 in public” dialog  Business units adopt  Social efforts are “social media fever” and uncoordinated and deploy on their own fragmented As internal and external demands mount, companies become mostly reactive, relegating themselves to a “Social Media Help Desk.”© 2010 Altimeter Group
  • 17 Companies who head towards Path 1 will not scale© 2010 Altimeter Group
  • Image by carl-w-heindl used with Attribution as directed by Creative Commons http://www.flickr.com/photos/thirty_and_three/426973571 18 Path 2: Achieve Escape Velocity© 2010 Altimeter Group
  • 19 Five Steps to Achieve Escape Velocity – Stay out of the Social Media Help Desk© 2010 Altimeter Group
  • Formalize how your social business program will be organized Decentralized Centralized Hub and Multiple Hub Holistic or Spoke and Spoke or “Honeycomb” “Dandelion”© 2010 Altimeter Group
  • 21 1. Formalize a Hub and Spoke model quickly Move from fragmentation and decentralization to coordination where business units can deploy own their own. Tip: Governance > Process > Education will organically manifest as a Hub.© 2010 Altimeter Group
  • 22 Become an enabler for business units  You can never hire enough community managers or deploy and manage efforts.  Therefore, establish a “Center of Excellence” at the Hub to support and enable business units© 2010 Altimeter Group
  • 23 2. Scale with peer-to-peer communities Dell‟s support forum Best Buy community© 2010 Altimeter Group
  • 24 Best Buy leverages “super users” to answer 30% of all questions Started in 2008, Best Buy‟s community receives 2.5 million visitors a year, generating 100,000 conversations. In addition, 25 super users spend 8-12 hours a week on the site answering about 30 percent of all the questions asked.© 2010 Altimeter Group
  • 25 The myFICO community has served over 850K members since its inception Launched in 2007, the myFICO community serving FICO‟s consumer division, has 300K registered users, with 10K new users registering every month. There are 20K posts a month and 400K searches a month.© 2010 Altimeter Group
  • 26 Sephora extends Facebook conversations by launching its own community, Beauty Talk “We had such a robust natural conversation on Facebook,” said Bridget Dolan, vice president of interactive media. “We saw that women were asking each other questions -- they‟d say, „What‟s a great waterproof mascara?‟ And within an hour, they‟d have about 17 really well-thought-out answers.”© 2010 Altimeter Group
  • 27 Community platforms are a top social business priority for all maturity levels© 2010 Altimeter Group
  • 28 3. Integrate socially relevant discussions at every phase of the customer lifecycle Awareness Consideration Comparison Intent Purchase Purchase Implement Support Renewal Advocacy© 2010 Altimeter Group
  • Corporate website integration will be the #1 priority We asked 140 Corporate Social Strategists: “What three external (go-to- market) social strategy objectives will you focus on most in 2011?” Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010© 2010 Altimeter Group
  • 30 New framework for 2011 Evolution of the Social Corporate Website 0. No 1. Social 2. Social 3. Social 4. Social 5. Seamless Integration Linking Aggregation Publishing Context Integration Passive Social Basic Feeds Sharing Content Social and Curated Active Contextual Aggregation Sharing Content Contextual Aggregation© 2010 Altimeter Group
  • 31 Windows 7 curates mentions of its new product on a dedicated page© 2010 Altimeter Group
  • 32 TurboTax aggregates support discussions within the product While TurboTax customers use the product to do their taxes, they can view support discussions within the product.© 2010 Altimeter Group
  • 33 TripAdvisor visitors view friend reviews through Facebook Instant Personalization TripAdvisor launched Facebook‟s Instant Personalization feature in December 2010, offering friend ratings, reviews, and travel history.© 2010 Altimeter Group
  • 34 4. Formalize a customer advocacy program Walmartoriginal recruited Microsoft selects MVPS 11 “mommy bloggers” for annually. its Eleven program.© 2010 Altimeter Group
  • Fiskars‟ “Fiskateer” moms lead a crafting brigade Four women are selected as “Fiskateers” – to blog about crafts and “spread the Fiskars love.” The program added an online community, 50 “Certified Fiskars Demonstrators,”© 2010 Altimeter Group
  • 36 Ford mobilized 100 “Agents for the Fiesta Movement Ford chose 100 digital influencers, from 4000 applicants, to test drive their new Fiesta for 6-months. Agents were required to post at least one video per month and content was aggregated in real time at fiestamovement.com.© 2010 Altimeter Group
  • 37 SAP Mentors  Approx. 100 SAP mentors are nominated by the community and selected by internal team.  Benefits: SAP events, press/analyst briefings, meetings with executives, private forum and wiki, technical resources, blog  Duration: 1 year© 2010 Altimeter Group
  • 38 Intermediate and Advanced programs spend 50K-60K on influencer programs© 2010 Altimeter Group
  • 39 5. Streamline workflow with SMMS Social Media Management Systems (SMMS) vendors include CoTweet, (left), HootSuite, Sprinklr, Objective Marketer, Expion, Seesmic, Awareness, and SpredFast (right), see full list© 2010 Altimeter Group
  • 40 Why Social Media Management Systems?  Corporations Struggle to Manage Hundreds and Thousands of Accounts  Kenneth Cole and Chrysler Debacles Prove Need for Parental Controls  Expect Regulatory Industries to Require This Safeguard System  Direct/Email Marketers Want a Piece of Social Marketing to Blast in New Channels  Agencies Know SMMS Provides Client Lock-in and Recurring  A Complementary Toolset for Social Platforms, Social Commerce, Brand Monitoring Vendors, Marketing Automation© 2010 Altimeter Group
  • 41 SMMS investments are low across all companies© 2010 Altimeter Group
  • 42 Closing Thoughts on Priorities 1. Get ready internally, focus on governance, process, then education to emerge in the center of excellence. 2. Remember 1:1 doesn‟t scale, leverage the crowd for first response, then interact in escalations. 3. Integrate social to increase relevancy and reduce costs on creating content. 4. Standardize social media management tools now so data can be aggregated. 5. Remember the future is more than social marketing: It cascades to support, product innovation, then supply chain.© 2010 Altimeter Group
  • 43Q&A Jeremiah Owyang jeremiah@altimetergroup.com web-strategist.com/blog Twitter: jowyangResearch team includes significant contributions from ChristineTran, and Charlene Li, Altimeter Group
  • Image by carl-w-heindl used with Attribution as directed by Creative Commons http://www.flickr.com/photos/thirty_and_three/426973571 44 Achieve Escape Velocity© 2010 Altimeter Group
  • 45ABOUT USAltimeter Group is a research-based advisory firm that helpscompanies and industries leverage disruption to their advantage.We have four areas of focus: Leadership and Management,Customer Strategy, Enterprise Strategy, and Innovation andDesign.Visit us at http://www.altimetergroup.com or contactinfo@altimetergroup.com.