Keynote: Social Business Forecast:  2011 The Year of Integration
 

Keynote: Social Business Forecast: 2011 The Year of Integration

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Research reveals focus on integration, staffing, advertising, and measurement.

Research reveals focus on integration, staffing, advertising, and measurement.

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  • Full Name Full Name Comment goes here.
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  • Very good to know that there are layers of metrics that we need to be looking at.
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  • Enjoyed it. Thanks for sharing. http://www.clickandsendparcel.com
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  • As a social media manager who's just getting a company going, it's interesting to see how other social businesses stack up. The budgeting, priorities, and organizational structure are all great perspectives to have.
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  • ROI pyramid had clarity of thought. Thanks for sharing
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    Keynote: Social Business Forecast:  2011 The Year of Integration Keynote: Social Business Forecast: 2011 The Year of Integration Presentation Transcript

    • 1
      LeWeb Keynote
      December 9, 2010
      Jeremiah Owyang
      Industry Analyst
      Social Business Forecast:
      2011 The Year of Integration
      Research reveals focus on integration, staffing, advertising, and measurement.
    • 2
      What happened in 2010
      What’s going to happen in 2011
      What companies should do about it
      Agenda:
    • Image by Slowtronused with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309
      2010 Overview
      © 2010 Altimeter Group
    • Just 2 years in corporate social business, 2010 was the year of formation.
    • Most Social Media programs report under Marketing or Corporate Communications
    • Companies organize for social in 5 ways
    • 7
      DECENTRALIZED
      • Organic growth
      • Authentic
      • Experimental
      • Not coordinated
      • e.g. Sun
    • 8
      CENTRALIZED
      • One department controls all efforts
      • Consistent
      • May not be as authentic
      • e.g. Ford, Regulated
    • 9
      HUB AND SPOKE
      • One hub sets rules and procedures
      • Business units undertake own efforts
      • Spreads widely around the org
      • Takes time
      • e.g. Red Cross
    • 10
      MULTIPLE HUB AND SPOKE
      OR “DANEDELION”
      • Similar to Coordinated but across multiple brands and units
      • e.g. HP, Microsoft, Tech Giants
    • 11
      HOLISTIC OR “HONEYCOMB”
      • Each employee is empowered
      • Unlike Organic, employees are organized
      • e.g. Twelpforce, Zappos
    • Most companies organize into Hub & Spoke or Centralized
      12
    • Maturity drives Total Budget, Team Size, and Org Model
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      We asked 140 Corporate Social Strategists their total strategy budget, number of full-time equivalent staff dedicated to social media, and organizational model:
    • Maturity drives Total Budget, Team Size, and Org Model
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      Corporations who are just getting started have miniscule budget and are significantly understaffed in a centralized team –this does not scale.
    • Maturity drives Total Budget, Team Size, and Org Model
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      Corporations who have formalized their programs have a cross-functional team that lead and serve many business units with a larger budget line–they may not deploy on their behalf.
    • Maturity drives Total Budget, Team Size, and Org Model
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      Mature and Advanced corporations have only slightly large budgets but involve many more across the company and are formed in Hub and Spoke, and often “Dandelion”
    • Image by ronni44052 used with Attribution as directed by Creative http://www.flickr.com/photos/ronnie44052/2730239605
      2011 Forecast
      © 2010 Altimeter Group
    • 2011 is the Year of Integration
    • For Internal Goals In 2011, Social Strategists will focus on Measurement of ROI
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      We asked 140 Corporate Social Strategists: “What internal social strategy objectives will you focus most on 2011?”
    • Social Strategists struggle with relying on engagement data
      We asked 140 Corporate Social Strategists: What measurements are most important to evaluating the success of your program?
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
    • In External ‘Go to market’ a focus will be on integrating social onto the corporate website
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      We asked 140 Corporate Social Strategists: “What external social strategy objectives will you focus most on 2011?”
    • 2010-2011: Adoption of Social Business programs
      We asked 140 Corporate Social Strategists their budget for 12 social business programs in 2010, and projected increases/decreases in 2011 to calculate adoption forecast:
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
    • 2010-2011: Spending on Social Business programs
      We asked 140 Corporate Social Strategists their budget for 12 social business programs in 2010, and projected increases/decreases in 2011 to calculate adoption forecast:
      $278,000
      $160,000 $129,000 $120,000 $108,000 $98,000 $90,000 $47,000 $47,000 $37,000 $23,000 $22,000
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
    • 2011 top spending by Company Maturity
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      We asked 140 Corporate Social Strategists their budget for 12 social business programs in 2010, and projected increases/decreases in 2011 to calculate top spending by Company Maturity in 2011:
    • 2011 top spending by Maturity
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      A small compartment of staff will be hired, scalable branded communities, and reliance on agencies which could help with monitoring.
    • 2011 top spending by Maturity
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      Teams will continue to grow, but likely stymied by true ‘engagement’ brands may throw ad dollars and campaigns in order to scale –expect few to have maturity to truly engage.
    • 2011 top spending by Maturity
      Source: Survey of Corporate Social Strategists, Altimeter Group, November 2010
      Expect the advanced to customize social media software and data, and then focus on engagement with social media agencies of record (SMAOR) –with less focus on advertising than the mature
    • Image by zetsonused with Attribution as directed by Creative Commons http://www.flickr.com/photos/zetson/254608875
      How You Should Invest in 2011
      © 2010 Altimeter Group
    • Invest in scalable social media programs
      29
    • Hire correctly (Gurus/Ninjas/Samurai need not apply) and properly train for scale
      Integrate social media on the corporate website, then aggregate and curate
      Invest in advertising that leverages social graph
      Build an unpaid army of advocates –get your customers to do the work for you
      Invest in scalable systems like SCRM and SMMS
      Learn to measure using the ROI Pyramid
      Invest in scalable social media programs
      30
    • Gurus, Ninjas, and Samurai need not apply
      Hire a program manager rather than a social media “hot shot.”
      Seek candidates with a track record of early technology adoption in their careers.
      Look for a corporate entrepreneur, comfortable with “calculated risks.”
      An internal resource to serve the entire enterprise.
      1) Hire correctly and properly train for scale
      31
    • 2) Pragmatically integrate social media on the corporate website, then aggregate and curate
      32
      8. Seamless integration
      7. Social log-in triggers sharing
      6. Users stay on site with social log-in
      5. Aggregate discussion on site
      4. Brand integrated in social channels
      3. Link away but encourage sharing
      2. Link away with no strategy
      1. No social integration
      Source: http://www.web-strategist.com/blog/2010/05/19/slides-roadmap-for-integration-of-social-into-your-corporate-website/
    • 3) Invest in advertising that leverages social graph
      Advertising is the second highest social business program spend in 2010-2011 ($104,000 and $160,000)
      48% of corporations plan to increase their spend in 2011
      Focus on clear metrics
      Make ads engaging and tie to social graph –not just banners
      33
      Twitter’s advertising is a combination of both earned and paid –that results in WOM
    • Invest in Advocacy programs – they scale
      Research indicates a 5 step process
      Example: Microsoft has @4000 MVPs who are nominated by peers, employees and other MVPs; MVPs write books, articles, participate in user groups, host events, and answer community questions
      4) Build an unpaid army of advocates –get your customers to do the work for you
      34
    • SCRM connects the social web to your customer data bases, in 2010 to 1011 –budgets are small $19K to $37K (SCRM) but growing
      Most corporations don’t know they are implementing SCRM, as brand monitoring integrated with CRM applies
      Invest in Social Media Management Systems (SMMS) to help your brands scale.
      Forecast: $14K to $22K (SMMS) in 2011 spending
      Vendor short list: CoTweet, HootSuite, Sprinklr, Objective Marketer, Expion, SpredFast, or Seesmic
      5) Invest in scalable systems like SCRM and SMMS
      35
    • Learn to measure correctly
      Serve the right metrics to the right roles
      See: The Social Media ROI Pyramid
      6) Learn to measure using the ROI Pyramid
      36
    • ROI Pyramid: Roles View
      Provide the right metrics to the right audience. A novice mistake is to provide ‘engagement metrics’ to executives
    • The ROI Pyramid: Metrics View
      These metrics are formulas comprised of the tier below them. Currently, there is no industry standard.
    • The ROI Pyramid: Metrics Examples (there are more)
      A junior mistake is providing ‘engagement data’ to executives –instead focus on business metrics.
    • The ROI Pyramid
      Role: Metrics: Specific Data (examples)
    • 2010 was the read of Foundational Investments.
      In 2011, expect to see a focus on Measurement, Integration, Staffing and Advertising.
      Invest in Scalable Programs that leverage your crowds –1:1 dialog does not scale.
      Summary
      41
    • This research is published under the spirit of Open Research, use it, reference it, and build on it.
      The more you share the more we can conduct, spread it widely.
      Our papers are published under non-commercial Creative Commons – you are free to use our research, with attribution to Altimeter Group.
      Open Research
      42
    • 43
      Jeremiah OwyangIndustry Analyst
      jeremiah@altimetergroup.com
      web-strategist.com/blog
      Twitter: @jowyang
      Research team includes significant contributions from Christine Tran, and Charlene Li, Altimeter Group