Charlene Li's Presentation from Buzz2010

Open Leadership
How Social Technology Can Transform The Way You Lead
Charlene Li
Altimeter Group
June 16, 2010
Follow me on Twitter
@charleneli

More people visit Facebook than Yahoo!

A culture of sharing

It’s about relationships

Open Leadership
Having the confidence and humility to give up the need to be in control, while inspiring commitment from people to accomplish goals

Four goals define your open strategy

Learn with basic monitoring tools

Understand the socialgraphics of your audience
<1% 34% 26% 63% 78% Source: Global Wave Index Wave 2 Trendstream.net, January 2010 U.S. adults Curating Producing Commenting Sharing Watching

Dialog with your community

Kohl’s has conversations on Facebook

DellOutlet drives sales with Twitter

Help your members support each other

Wells Fargo supports customers
People behind the account use CoTweet and keep banker hours

Innovate with customer feedback

Starbucks involves 50 people around the organization

#1 Align openness with strategic goals
Examine your 2010 goals Pick one where open and social can have an impact

#2 The new lifetime value calculation
+ Value of purchases
Cost of acquisition
____________________
= Customer lifetime value
Percent that refer
Size of their networks
Percent of referred people who purchase
Value of purchases
Percent that provide support
Frequency and value of the support
+ Value of new customers from referrals
+ Value of support
+ Value of ideas
+ Value of insights
Calculation spreadsheets available at open-leadership.com

Use metrics to help make decisions
Find more fans with large networks Encourage fans to make more referrals

#3 Find and develop your open leaders
Pessimist Optimist Collaborative Independent

10 elements of openness

Determine how open you need to be with information to meet your goals
Visit open-leadership.com to conduct your own openness audit

Social + open = competitive advantage

#5 Prepare your organization
Ideally, you should be at “4.0” for launch. Area of opportunity.

Organize for different types of openness

Social media triage
Can you add value? Evaluate the purpose Respond in kind & share Thank the person Unhappy Customer? Dedicated Complainer ? Comedian Want-to-Be? Negative Positive Yes No Do you want to respond? No Response No Yes Take reasonable action to fix issue and let customer know action taken Are the facts correct? Gently correct the facts No No No Yes Are the facts correct? Does customer need/deserve more info? Yes Explain what is being done to correct the issue. Yes Is the problem being fixed? Yes Let post stand and monitor. No Yes No Yes Yes Assess the message

#5 Embrace failure

Buyer blog hit the right note

Create Sandbox Covenants

The Red Cross handbook/policies help keep order http://sites.google.com/site/wharman/social-media-strategy-handbook

Focus on relationships, not the technologies.
Align your open and social strategies with strategic goals.
Embrace failure and mistakes – you’ll be making many of them.
Summary

Thank you Charlene Li [email_address] charleneli.com/blog Twitter: charleneli For slides, send an email to slides@altimetergroup.com For more information & to buy the book visit open-leadership.com

Assessment - How open is your organization?
What kind of relationship do you want?
Determine how open you need to be to get that relationship.
Conduct an openness audit of your information sharing and decision making processes.
Identify and understand where you have the biggest concerns about giving up control.

About Us Altimeter Group is a strategy 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.

Charlene Li's Presentation from Buzz2010

by Lindy Dreyer on Jun 21, 2010

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Charlene Li’s Presentation from Buzz2010 — Presentation Transcript

http://www.buzz2010.org	8
http://www.socialfish.org	3