Building B2B Online Communities- Best practices

L E A D E R NETWORKS Building B2B Online Communities Vanessa DiMauro CEO, Leader Networks SNCR Board Member, Research Co-Chair @ vdimauro April 1, 2012 PRSA ConferenceCopyright © 2012 Leader Networks, LLC 1

L E A D E R NETWORKS Many Companies Are Responding Chaotically To The Social Chatter Customer Retention Thought Leadership On-line Unstructured Community Information B2C Twitter Wiki Blog B2B Facebook RSS Web 2.0 LinkedIn YouTubeCopyright © 2012 Leader Networks, LLC 3

L E A D E R NETWORKS Which Can Result In Social Media Muddle CustomerService monitorsFacebook, Twitter  Marketingetc. for angry focuses on gettingcustomers Product fans & followers to Groups view its marketing Customer Distribution campaignsService resolvescustomer issues Product  Marketing Customer Online Development doesn’t use Sales & community Facebook, Twitter,Service doesn’t Channel Partners etc. to transactshare issues withinternal  Marketingstakeholders Customer doesn’t mine Service interactions to Customer Marketing identify newService doesn’t customers orpass on pleased feedbackcustomers to Salesor Marketing Copyright © 2012 Leader Networks, LLC 4

L E A D E R NETWORKS Online Customer Communities Changes Business As Usual… For The Better Deepen client relationships to increase retention Deliver improved Build greater brand equity financial returns Social Capital In-person + online Extend accelerate Provide better product & customer care services delivery Shorten product innovation cycleCopyright © 2012 Leader Networks, LLC 6

L E A D E R NETWORKSFact Nearly two-thirds (65%) of organizations surveyed in 2010 are engaged in private online communities hosted by the companies that sell them computer hardware, software and the services. ITSMA 2010 report, How Customers Choose Solutions Providers, 2010: The New Buyer Paradox, by Julie Schwartz, Katie Espinola and Olivier Nguyen Van Tan.Copyright © 2012 Leader Networks, LLC8

L E A D E R NETWORKSFact49% of all B2B companies manage anonline community dedicated to customersor prospects, and a third planned to createa customer community in the near future.Business.com Business Social Media Benchmarking Study (2009)Copyright © 2012 Leader Networks, LLC9

L E A D E R NETWORKSWhich Companies Need Online Customer Communities the Most? Common Characteristics of the Early Community Builders Customer Customers problems (which their products or services addresses)• Willing to share information with • Critical, ongoing and ever- other customers changing• Have purchased a platform • Knowledge for solving problems product and need to becomes obsolete quickly communicate with each other about how to capitalize on it • Customers gain major value by learning from the experiences of• Willing to participate in off-line other customers user groups or in person customer summits • Urgent need to share experiences Copyright © 2012 Leader Networks, LLC 10

L E A D E R NETWORKS Three General Models For Community Gated Public Hybrid Select, narrow target Open call, all interested Tiered membership audience Member directed Consensus/Trend driven Acceptance criteria Public forum Public forum w/ private area Protected dialog Big bang Thought leadership Managed topical agenda Ad generated support Hybrid Revenues Sponsor supportedInitial purchase of a product / service, product / service upgrade (e.g. new functionality), newapplication (e.g. increased footprint inside or outside of an operating / business unit) andongoing maintenance (very profitable and predictable). Copyright © 2012 Leader Networks, LLC 11

L E A D E R NETWORKSImproving the Way You Enhance Your Products/ServicesThe Case of Palladium Group’s Execution Premium Community Community Fast Facts Sponsoring Company: Palladium Group (founders of the Balanced Scorecard approach to corporate measurement) Audience: Senior strategy professionals from organizations worldwide Size: More than 2,700 organizations Launch date: April 2010 Won multiple awards including SNCR Best Online CommunityCopyright © 2012 Leader Networks, LLC 12

L E A D E R NETWORKSAbout Palladium Group’s XPC Case for • Help practitioners of the Balanced Scorecard share knowledgeCommunity • Increase customer intimacy • Raise awareness of products and services • Tap into leading trends in strategy execution • Create a new revenue-generating service line • More than 50% of the membership from non-US countries, Results to deepening Palladium’s market reach Date • Drives conference attendance, consulting projects and publishing arm of Palladium • Revenue-generating in first 6 months • Over 15% of new members come from peer referralsCopyright © 2012 Leader Networks, LLC 13

L E A D E R NETWORKSDeepening Customer Intimacy and Enhancing Product Development The Case of LexisNexis Investigators Network (LNIN) Community Fast Facts Sponsoring Company: LexisNexis Audience: Federal, State and Local Law Enforcement Size: More than 7K registered members Launch date: April 2010 Won Forrester Groundswell Award 2011 Copyright © 2012 Leader Networks, LLC 14

L E A D E R NETWORKS About the LNIN Community • Appeal to federal, state and local law enforcement Case for • Bridge the gap between law enforcementCommunity • Service clients better • Add value to the customer’s purchase decision • Maintain strong market position • Over 4000 members in its first year, 1,700 agencies/ 50 states Results to • Three new product enhancements implemented date • Law Enforcement trends and hot spots • 1100+ members have made peer-to-peer connections • Analysts from Gartner recommended that law enforcement managers “leverage the at-large community for access to more information”Copyright © 2012 Leader Networks, LLC 15

L E A D E R NETWORKS Three Operational Processes Communities Needed To Succeed Expert community facilitation A healthy balance of Institutional content (IC) and user generated content (UGC) Persistent and programmatic outreachCopyright © 2012 Leader Networks, LLC 16

L E A D E R NETWORKS Types Of Members And How To Activate Them Fame Connectors Problem seekers SolverKey Characteristic Seeks opportunities Seeks opportunity to Reticent participant to grow reputation be valued. but overcomes in showcase thought Connect people with order to get answer leadership each other and with to their questions contentMotivators Public recognition Off-line and online Timely response & appreciation appreciation Information Validation thru forum Thought leadership post postExample Rewards Member spotlight Additional Offline supplemental Bylined article responsibility as research or pointers opportunity content curator or to content or people Shout-out in people matcher who may help them newsletter or in a discussion Copyright © 2012 Leader Networks, LLC 17

L E A D E R NETWORKS Online Customer Communities Changes Business As Enabling customers to Usual… For The Better Enhancing the brand easily share detailed because the online information on how Deepen client community can’t be they’re using their relationships to quickly duplicated by offerings with one increase competitors – it takes another, which retention time to build a vibrant increases their value community Extend accelerate Build greater product &Providing a large brand equity services deliveryand ongoingcustomerresearch panel Social Capital In-person + online Lowering the cost of customer service by Deliver improved Provide better Identifying nascent financial returns customer care having customers customer needs solve each other’s before competitors problems recognize them – and before customers Shorten product have well-articulated innovation cycle them Copyright © 2012 Leader Networks, LLC 19

L E A D E R NETWORKS Community Initiatives Should Be Aligned With Business / Functional Unit And Corporate Objectives Corporate Objectives – Financial – Customer – Process – Learning & Growth Business / Functional Unit Objectives Community Initiative (Business Case / ROI) Current Target Outcome Delta / ROI General Metrics Site Metrics Business MetricsCopyright © 2012 Leader Networks, LLC 20

L E A D E R NETWORKS Thank You!For more information please contact meVanessa DiMauroCEO, Leader Networks617-484-0778vdimauro@leadernetworks.comRead the blog -> http://blog.leadernetworks.comhttp://www.leadernetworks.comCopyright © 2012 Leader Networks, LLC 21

Building B2B Online Communities- Best practices

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