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Don Peppers Death by Tweet
 

Don Peppers Death by Tweet

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Death by Tweet by Don Peppers @SMiCS2011 in Monte Carlo.

Death by Tweet by Don Peppers @SMiCS2011 in Monte Carlo.

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    Don Peppers Death by Tweet Don Peppers Death by Tweet Presentation Transcript

    • #SMiCS2011 @DonPeppersCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 1
    • Big data: 1 billion+ Google searches every dayCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 2
    • Big Data: Amount of information doubles every two years. By 2015 it will be doubling every 72 hoursCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 3
    • By 2015, game credits will make Facebook theCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 4
    • Generation Y already considers email old-­fashionedCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 5
    • In the U.S., 1 out of every 8 couples getting married met each other onlineCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 6
    • No, it is not your Accelerate Natural Dietary Supplement ENERGY BOOST imagination Impact Guaranteed Technological progress is acceleratingCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 7
    • driving faster and faster economic growthCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 8
    • By 1960, growth had increased again, to about 2.3% p.a. By 1900, the rate of growth had climbed to 1.5% p.a. growth started, at about 0.75% p.a. For 100,000 years, the average human being lived on the equivalent of $400 to $600 p.a.COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 9
    • Business innovation takes an evolutionary pathOrganizations compete to survive inOver time, as in life, business modelsevolve into more complex COPYRIGHT © 2011PEPPERS & ROGERS GROUP|ALL RIGHTS PROTECTED AND RESERVED | 10
    • Like evolution, innovation proceeds by trial and Apple Macintosh succeeded But remember the Lisa? iPod succeeded magnificently But who remembers Newton? comes to iPhone is a big successthose who But an earlier phone failed COPYRIGHT © 2011PEPPERS & ROGERS GROUP|ALL RIGHTS PROTECTED AND RESERVED | 11
    • ...so progress is collectively predictablebut locally randomCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 12
    • Technology now gives business a new Strategy. Execution. Results. dimension for competitionCustomer Creating the most possible Needs value from each customer Satisfied Customer Centricity Share of customer Creating the most possible value from each product Product Centricity Market share Customers ReachedCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 13
    • Technology now gives business a new Strategy. Execution. Results. dimension for competitionCustomer CRM: Treating different Needs Satisfied customers differently Customer Centricity Share of customer Product Centricity Market share Customers ReachedCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 14
    • Customers remember you, whether you remember them or not How you treat products today will have no effect on their price tomorrow But how you treat customers today has everything to do with their value tomorrowCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 15
    • What does a relationship involve? Strategy. Execution. Results. Interaction occurs, both ways between two parties Relationships are iterative by nature A context develops over time Every relationship is different Successful relationships generate trustCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 16
    • Managing customer relationships Identify Differentiate Interact Customize -­ unique addressable behavior and efficiently and individuals needs effectively behavior, offerings, or communications Customer Insight Customer ExperienceCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 17
    • Two Strategy. Execution. Results. requirements for earning a Good intentions CompetenceCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 18
    • Good intentions require you to Strategy. Execution. Results. would want to be treated if you best indicator -­ Firms that score considered the most for futureCOPYRIGHT ©© 2011. ALL RIGHTS PROTECTED AND RESERVED. COPYRIGHT 2011 ALL RIGHTS PROTECTED AND RESERVED. 19
    • Incompetence also destroys trust Making the customer tell you personal details over and over Customer calls the IVR, punches in his account number, Giving customer reps no authority Treating all customers the sameCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 20
    • 96% of Gen Y consumers belong to a social network Generation Gap? Average time spent per day: >1 hourCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 21
    • Or technology gap? increases 1000 X every decade will exchange 1000 X as much information with each otherCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 22
    • COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 23
    • William GibsonCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 24
    • Strategy. Execution. Results.Trust gains importance as interactionsincrease in speed and volume 1. Interaction generates transparency 2. Trust makes interactions more efficient 3. Proliferation of messages leads everyone to screen information for its trustworthinessCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 25
    • Strategy. Execution. Results. Extreme Trust Our standards for what constitutes trustworthy behavior are going up A new, more demanding set of expectations: Trustability Proactive trustworthinessCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 26
    • Strategy. Execution. Results. Trustworthiness compared to Trustability  COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 27
    • Strategy. Execution. Results. Trustability Many previously acceptable marketing x Profiting from customer error x Benefiting from asymmetric information x Failing to notify x AllCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 28
    • Strategy. Execution. Results. Product centric business modelsCustomer are often inherently untrustable! Needs Satisfied Product Centricity Market share Customers ReachedCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 29
    • Screw up today, and the Strategy. Execution. Results. un-Google Linda Kaplan Thaler, CEO, Kaplan Thaler GroupCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 30
    • Screw up today, and the Strategy. Execution. Results. Grant Robertson, blog post, May 1, 2007COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 31
    • Strategy. Execution. Results. Box office receipts down 40% the day after release!COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 32
    • Welcome to Strategy. Execution. Results. The Age of Transparency 83% of consumers trust the recommendations of their friends >50% trust online recommendations from complete strangers Just 14% of consumers trust advertisingCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 33
    • Strategy. Execution. Results. Do you allow reviews on your site? Radical idea: Everyone here should allow customers to review products and services The technology is inevitableCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 34
    • Sockpuppets beware! Strategy. Execution. Results. Internet chat: No one knows Social media: EveryoneCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 35
    • Strategy. Execution. Results. Actual note, handed to a Qantas flight attendantCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 36
    • Strategy. Execution. Results.Human beings are creatures of context Cnotxet alolws evreynoe to raed lgnehtystrigns of scarmlbed wrods prefcelty wlelwith others, giving strength to relationshipsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 37
    • Strategy. Execution. Results. Save me time Customer tells you what he wants, or how he wants it You tailor your product, service, or elements associated with it The more effort the customer invests, the greater their stake in making the relationship work. Now the customer finds it more convenient to remain loyal, rather than re-teach a competitor38 COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 38
    • Social media is like a cocktail party -­9-­ Some of the guests initiate most discussion 1% 9% Still90% others just listen still enjoy the party!COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 39
    • Strategy. Execution. Results. Social networks evolve, by Preferential attachment can create aCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 40
    • Strategy. Execution. Results.Cascading isUnpredictableCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 41
    • Strategy. Execution. Results. Netscape had a million collaborating members postings were done by a single userCascading isUnpredictableCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 42
    • Strategy. Execution. Results. Netscape had a million collaborating members 900,000 registered users on Digg, but postings were done one third of all by a single user home-­page postings come from just 30 usersCascading isUnpredictableCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 43
    • Strategy. Execution. Results. 900,000 registered users on Digg, but one third of all home-­page postings come from just 30 users most widely read user,Cascading is Adam Fuhrer, had millions of pageUnpredictable views, including MS Vista reviewsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 44
    • Strategy. Execution. Results. most widely read user,Cascading is Adam Fuhrer, had millions of pageUnpredictable views, including MS Vista reviews Adam Fuhrer was 12 years old!COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 45
    • Strategy. Execution. Results.Cascading isUnpredictable Adam Fuhrer is 12 years old!COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 46
    • Path dependent local randomness Strategy. Execution. Results. Collectively predictable emergent behavior NETWORKSCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 47
    • Just 15% of viral initiatives show positive results! Therefore: Word of mouth is also inherently unpredictableCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 48
    • So be careful withDespite its customer-­friendly architecture, the pressportrayed Speak Easy as sneaky and manipulativeCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 49
    • Control is Not an Option 2010: Greenpeace campaigns onCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 50
    • Control is Not an Option They tried to get You Tube to take the video down because of trademark violations They deleted critical comments on their Facebook fan page They corrected the spelling errors in theirCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 51
    • Tools for making sense of social network communications Network analysis: To identify and quantify the influencers and the influenced Sentiment analysis: To understand conversations, attitudes and dominant opinions in social mediaCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 52
    • DoubleClick identified Quantitative network survey of 6,000 Web users influencers 1,000 influencers with certain traits Use the Web more than twice as much Pay more attention to online ads, and want more relevance But also more likely to clear their cookies regularly, as well as fast forwarding through video commercialsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 53 53
    • Within Social Networks The only way to succeed in a networked world Build and influencers maintain a and reputation for connectors are curious trustability and inquisitive people.COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 54 54
    • Sentiment analysis: Making sense of written and spoken language Analyzing attitudinal information requires versusCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 55
    • Michael Jackson dies Heath Ledger dies Gross National Happiness IndexCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 56
    • Why the sudden surge of negative blog sentiment after rain-delayed game? Stadium officials mistakenly told hundreds of fans the game had been canceled But StubHub denied requests for refunds, because the game had actually been played Sentiment analysis tool spotted trouble brewing online. Soon the company offered discounts and credits to affected fansCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 57
    • How to choosenew products Large consumer products company monitors product reviews, social media, and other unstructured data Information is clustered to facilitate identification of problems, needs and new product opportunities Consumer sentiment drives product development as well as providing real-time feedback on new productsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 58
    • Tweeps are from Mars Fans are from VenusDifferent social networks or search termscan generate highly different outcomeswill affect the feedback you detect And the commercial domain is different from the social domainCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 59
    • Learning their lessons the hard way 2006: Introduced News Feed2007: Launched Beacon shopping updatesCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 60
    • What should Staples have done differently? What could they have learned fromRecruit high-influence customers tohelp design the Speak Easy program But did Staples enjoy enough trustability?COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 61
    • Building trustability in advance Office supply management guidance and tips Incentivized customer reviews of competitive products in all categories Discussion groups for small businesses, large enterprise office managers, government, non-profits Office supply inventory management tools and other applications designed to reduce costsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 62
    • Was there a better policy for Nestle? What would USAA or Amazon have done? What Nestle could have done: 1. Temporary moratorium on palm oil 2. Reach out to the most involved customers 3. Solicit opinions and viewpoints, publicize But again: Did Nestle have enough trustability?COPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 63
    • Building trustability in advance Calorie and diet guidelines, objectively comparing Nestle products with other brands as well Recipes, cooking guides, how-to pages, with customer contributions incentivized Chocolate stories and videos, with contests for most creative or entertaining Social responsibility discussion groups, emphasizing environmental issues in advanceCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 64
    • Avoiding death by tweet Recognize the inherent unpredictability of social networks and cascades of opinion WARNING: Avoid the impulse to try to control social media Build your TRUSTABILITY in advance! Forgive mistakes and ask forgivenessCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 65
    • Trustability works both ways USAA sent unsolicitedFirst Persian Gulf War (1991) refunds for time spent abroad by members 2500+ members mailed their refunds back! 66
    • Integrity is not elastic If your company is designed for trustability with customers, then Trustability is more likely to characterize other relationships as well Workers trusting each other Vendors, stakeholders, investorsCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 67
    • Trustability profitable company, It will make you a better companyCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 68
    • @DonPeppers Peppers & Rogers Group Management consultants in customer strategy issues Magazines, newsletters, research white papers Offices and clients around the world dpeppers@1to1.comCOPYRIGHT © 2011. ALL RIGHTS PROTECTED AND RESERVED. 69