Keynote: Three Ways Social Business Must Scale

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What's Next: The Three Trends Companies Must Invest in for Social Business
For Social Media Summit
June11, 2010
Jeremiah Owyang
Partner

The conversation has shifted off domain
Source: Pew Resource Center’s Internet and American Life Project (October 8, 2009)
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Facebook is second biggest site in US
Source: Compete.com (January 2010)
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50 million tweets a day on Twitter
Source: Twitter (February 22, 2010)

Image by atomicShedused with Attribution as directed by Creative Commons http://www.flickr.com/photos/atomicshed/161716855

Image by atomicShedused with Attribution as directed by Creative Commons http://www.flickr.com/photos/atomicshed/161716498

Image by Dominique Sanchez used with Attribution as directed by Creative Commons http://www.flickr.com/photos/bakou67/3689024981

The first company.

Image by IronRodArt - Royce Bair used with Attribution as directed by Creative Commons http://www.flickr.com/photos/ironrodart/4154904299

Image by Martin Deutsch used with Attribution as directed by Creative Commons http://www.flickr.com/photos/teflon/415484129

The second company.

Image by citizensoundused with Attribution as directed by Creative Commons http://www.flickr.com/photos/citizenbay/3772390381

Image by dontthink.feelused with Attribution as directed by Creative Commons http://www.flickr.com/photos/dontthinkfeel/2788417078

The future of social business requires companies to scale

Harness the Rings of Influence
Develop Peer to Peer Systems
Invest in Social CRM
3 Ways for Companies To Scale
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Rings of Influence
© 2010 Altimeter Group

Rings of social influence
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Traditional – but limited communication
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The corporate press release often does not influence customers
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CEOs not credible among most US consumers
Source: Edelman Trust Barometer, 2010
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Yet long term executive voices can make a difference
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The company voice is the mainstay of corporate communications, yet to increase trust, augment with respected and trusted executives.
Enable executives to speak on their own –yet aid them with resources (podcast, video) analytics and advice.
Brands that have consumer affinity already may have brand zealots (Facebook fan pages, like Coke) develop a strategy to activate their participation.
Best practices: Brand Ring
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Companies enable employees to use social
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Intel employees blog give customers an “inside look”
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“Blogs@intel offer an ‘inside look’ at Intel’s operations and provides opportunities for you to exchange ideas directly with our employees.”

“A collective force” of thousands of Best Buy employees support customers
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Establish guardrails to protect both employees and the company
Offer internal training courses, (like Intel’s certification program) and recurring training
Offer an internal water cooler where they can talk in a safe place and plan: Yammer, Socialcast, Community Platforms
Best practices: Employee Ring
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Companies enable customers – ratings
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DSW customers recommend products
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Real moms advocate for Walmart
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Microsoft recognizes Most Valuable Professionals
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Starbucks partners with Foursquare to empower check-in advocates
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Google SideWiki Shifts Power to Customers
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For better or worse, customers are already talking about you – how can you aggregate their voices closer to your brand?
Develop an advocacy program to recognize and reward your top customers.
Chance your mindset to understanding that critical feedback is an opportunity for product and service improvements –then use to increase loyalty and WOM.
Best practices: Customer Ring
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Prospects are influenced by other rings
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Monitor what prospects are saying about you
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American Express’s ‘Workstyle’ Community
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To reach prospects, engage them in their life and workstyles.
Conduct a “build vs join” analysis to see which will be most appropriate. (Hint: the answer is “yes”)
Launch using a ‘lightly branded’ approach, by focusing on their needs –not that of the brand.
Best practices
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Image by Pieter Musterdused with Attribution as directed by Creative Commons http://www.flickr.com/photos/piet_musterd/1858568495

Q&A Tools and Communities
Ratings, Rankings, and Reputation
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Adobe users trouble-shoot with product-focused Q&A
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MS Office users seek Mac specific help
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Dell customers make shopping decisions based on customer ratings
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TurboTax users rank “Best Answers”
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Oracle super users recognized on leader board
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Image by Slowtronused with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309
Social CRM Will Enable Efficiencies

Existing customer records will tie with social networks.
This will lead to companies being able to anticipate customers –or respond quickly.
Dell, Comcast are using brand monitoring, a CRM dashboard to quickly identify customers and then respond.
This process will lead to a holistic customer experience and customer intelligence.
Social CRM Concepts and Examples
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Start with the Five 5Ms
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The 18 Use Cases of Social CRM
1. Social Customer Insights: The 5M’s
Marketing
Sales
Service & Support
Innovation
Collaboration
CustomerExperience
2. Social Marketing Insights
6. Social Sales Insights
9. Social Support Insights
12. Innovations Insights
14. Collaboration Insights
17. Seamless Customer Experience
3. Rapid Social Marketing Response
7. Rapid Social Sales Response
10. Rapid Social Response
13.Crowdsourced R&D
15. Enterprise Collaboration
18. VIP Experience
4. Social Campaign Tracking
8.Proactive Social Lead Generation
11. Peer-to-Peer Unpaid Armies
16. ExtendedCollaboration
5. Social Event Management
Attribution-Noncommercial-Share Alike 3.0 United States

Not All 18 Social CRM Use Cases are Market Ready
SP1: Social Support Insights
Under 6 mos.
SP2: Rapid Social Response
SP3: P2P Unpaid Armies
F1: Social Customer Insights
S3: Proactive Lead Generation
6-12 mos.
M1: Social Marketing Insights
M2: Rapid Social Marketing Response
C2: Enterprise Collaboration
S1: Social Sales Insights
CX1: VIP Experience
12-18 mos.
Evangelizables
Early Movers
S2: Rapid Social Sales Response
Market Demand
CX2: Seamless Social
C3: Extended Collaboration
C1: Collaboration Insights
18-24 mos.
I2: Crowdsourced R&D
M3: Social Campaign Tracking
M4: Social Event Management
24-32 mos.
I1: Innovation Insights
Early Adoptions
Near Tipping Points
Over 32 mos.
Vaporware
Prototypes
Early Adoption
Beta Ready
Market Ready
Critical Mass
Tech Maturity

Take inventory of all your current social assets.
Start to develop new fields in your CRM system.
Populate these fields manually, or by using automated systems.
Train employees at every customer touch point to understand how these systems work.
How to get started in Social CRM
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Remember, employees cannot scale for social business –customers will always outnumber you
Leverage all the voices in your ‘rings’, not just the traditional trained voices. Yet recognize the most trusted rings have the least control
Use the crowd to self support not just in customer service but also in marketing. Change your mindset to be an enabler of customer voices.
Develop a Social CRM roadmap by downloading the Social CRM report, google “Social CRM Report”, this is an automated way to scale.
Summary and Next Steps
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THANK YOU
Jeremiah Owyang
jeremiah@altimetergroup.com
web-strategist.com/blog
Twitter: jowyang
With assistance from Christine Tran, Researcher

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ABOUT US
Altimeter Group is a Silicon Valley-based strategy research and
consulting firm that provides companies with a pragmatic
approach to disruptive technologies. We have four areas of
focus: Leadership and Management, Customer Strategy,
Enterprise Strategy, and Innovation and Design.
Visit us at http://www.altimetergroup.com or contact info@altimetergroup.com.

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Keynote: Three Ways Social Business Must Scale

by Jeremiah Owyang

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