Digital Influence in a Network Economy

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  • 1. Dave Capece sparxoo.com Digital I fl Di it l Influence in a i david@sparxoo.com Network Economy twitter.com/sparxoo November 15, 2009 1 | | Digital Influence in a Network Economy
  • 2. Network Economy In a network economy, value flows from connectivity. Value is created and shared by all members of a network. Economies of scale stem from the size of the network. 2 | | Digital Influence in a Network Economy
  • 3. Economic Structures Power by One Power to the People Traditional Web 1.0 Type Web 2.0 Corporation Increased power by Influencers who have gained reputations and Top-Down T D are looked to for Mob R l M b Rule Features Leadership providing leadership to the digital community 3 | | Digital Influence in a Network Economy
  • 4. The Changing Social Structure Pre-Network Network Leaders Followers ll 4 | | Digital Influence in a Network Economy
  • 5. The rules have changed in the network economy Pre-Network Network Physical assets, money, job assets money Overall contribution to Status title, and family power community by way of skills, intelligence, products, services Value Exchange Goods and currency Reputation and Relationships Supply / Limited capacity (demand Over capacity (supply Demand outweighs supply) g pp y) outweighs demand) g ) Other Less emphasis on absolute Honesty and transparency rule Conditions truth due to limited feedback due to real time networked real-time, mechanism feedback mechanism 5 | | Digital Influence in a Network Economy
  • 6. Who is more influential? versus 6 | | Digital Influence in a Network Economy
  • 7. Who is more influential? Cash $33 Billion $22 Billion Revenue $56 Billion $23 Billion Earnings $22 Billion $9 Billion Users (USA) 133 million 165 million 7 | | Digital Influence in a Network Economy
  • 8. 8 | | Digital Influence in a Network Economy
  • 9. Balancing Goals in the Network Economy versus 9 | | Digital Influence in a Network Economy
  • 10. A new class of Influentials is emerging 10 | | Digital Influence in a Network Economy
  • 11. Maximize reputation and relationships to increase your influence in the network economy 11 | | Digital Influence in a Network Economy
  • 12. Define the brand you are building Personal Brand Organization g Personal Re-Brand • Once you start aggressively building a brand, it becomes difficult to change the brand as O t t i l b ildi b d b diffi lt t h th b d you risk losing links and any initial momentum in building fans 12 | | Digital Influence in a Network Economy
  • 13. Lead with purpose Liberal Hyper-Connected yp Hollywood’s y Leadership Community Most Hated Gossiper • In I a world of overcapacity, don’t be average. Stand f something you are passionate ld f it d ’t b St d for thi i t about, and make it outstanding 13 | | Digital Influence in a Network Economy
  • 14. Build a valuable network Network value is based on • N b of connections Number f ti • Influence of connections • Depth of relationships Do You Need more… • Connections (blogging, vlogging, twitter, conferences, forums, word- of-mouth) • Influential connections (interview leaders, invite speakers to conferences) • Deep relationships (coffee, do favors, collaborative p ojects, e oo s, eep e at o s ps (co ee, a o s, co abo at e projects, eBooks, get a mentor) 14 | | Digital Influence in a Network Economy
  • 15. Advance the conversation • Listen to the existing conversation • Share expert advice • Tell stories • Create an experience through visual cues • Reference influencers and celebrities • Build on ideas from the community 15 | | Digital Influence in a Network Economy
  • 16. Mobilize the community • There’s enough ideas out there…we want action • Get involved and get others involved • Make if fulfilling 16 | | Digital Influence in a Network Economy
  • 17. Be transparent and honest • Know who you are and manage one persona across platforms (use a consistent voice) • Be human … it’s ok if you have flaws Dear JetBlue Customers, , We are sorry and embarrassed. But most of all, we are deeply sorry. …we have published the JetBlue Airways Customer Bill of Rights — our we official commitment to you of how we will handle operational interruptions going forward—including details of compensation. 17 | | Digital Influence in a Network Economy
  • 18. Measure success • Those with influence are more likely to become a part of the conversation through word-of-mouth and recommendation – Blog traffic, community buzz, twitter followers, facebook fans • N tP Net Promoter S t Score i a t diti is traditional measure of recommendation l f d ti – Net Promoter Score = Promoters – Detractors – On a scale of 1 – 10, “how likely are you to recommend”; 8 to 10 (promoters) and 1 to 5 (detractors) • Overlay sphere of influence as promotion from an influencer has more impact than promotion from a follower i t th ti f f ll – Consider Forrester.com/Groundswell’s definition of involvement (creators, critics, joiners, etc) – Consider Malcolm Gladwell s (Tipping Point) segmentation of innovators early Gladwell’s innovators, majority, late majority, laggarts 18 | | Digital Influence in a Network Economy
  • 19. Additional reading on digital influence Blogging is a community Buzz, word-of-mouth To stand out to the crowd, ruled by reciprocity. and influencers are you need to stand out from Promoting other o o go e increasingly important. c eas g y po a the c o d Se e up e crowd. Serve bloggers will help you The most powerful form distinct purpose and own build meaningful of building trust is it. Know what you are relationships while through friendships good at and pursue it extending your audience offline wholeheartedly—with and peer network. authenticity, trust and passion. 19 | | Digital Influence in a Network Economy
  • 20. Dave Capece sparxoo.com Digital I fl Di it l Influence in a i david@sparxoo.com Network Economy twitter.com/sparxoo November 15, 2009 20 | | Digital Influence in a Network Economy