Four Laws of Social Business (Jeremiah Owyang, Altimeter Group)

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SMASH Summit keynote by Jeremiah Owyang, Altimeter Group (May 2010)

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  • [Screenshot of Microsoft MVP, add a few photos]
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  • Four Laws of Social Business (Jeremiah Owyang, Altimeter Group)

    1. Four Laws of Social Business<br />Jeremiah Owyang<br />Altimeter Group<br />May 2010<br />1<br />SMASH SUMMITT<br />
    2. There are more than four.<br />Laws can be broken, but not without consequences.<br />Whether a buyer or seller, abide by these to prosper.<br />The thing about the laws…<br />2<br />
    3. Four Laws of Social Business<br />3<br />
    4. Image taken by 0108dk used with Attribution as directed by Creative http://www.flickr.com/photos/0108dk/4181928709/<br />1) Don’t Fondle the Hammer<br />© 2010 Altimeter Group<br />
    5. Run when you hear “Twitter Strategy” or “Facebook Strategy” – it’s putting the cart before the horse.<br />Instead, focus on how you’ll understand customers.<br />Then choose a business objective.<br />First, focus on customers<br />5<br />
    6. Socialgraphics<br />6<br />Demographic<br />Geographic<br />Psychographic<br />Behavioral<br />Socialgraphic<br />
    7. Where are your customers online?<br />What are your customers’ social behaviors online?<br />What social information or people do your customers rely on?<br />What is your customers’ social influence? Who trusts them?<br />How do your customers use social technologies in the context of your products.<br />Socialgraphics asks key questions<br />7<br />
    8. Social Strategy Objectives<br />8<br />
    9. Focus on building the house – not the hammer<br />
    10. 2) Live the 80% rule<br />© 2010 Altimeter Group<br />
    11. Treat social success like launching a new product.<br />80% of success is getting your company ready – only 20% is about the technologies. <br />You can’t love your customers ‘till you love yourself first. <br />Get your company ready<br />11<br />
    12. Crisis response plan<br />12<br />
    13. Social media triage<br />13<br />Take reasonable action to fix issue and let customer know action taken<br />Negative<br />Positive<br />Yes<br />Yes<br />No<br />Assess the message<br />Evaluate the purpose<br />Do you want to respond?<br />Does customer need/deserve more info?<br />Unhappy Customer?<br />No Response<br />Yes<br />Are the facts correct?<br />Gently correct the facts<br />Yes<br />No<br />No<br />No<br />Can you add value?<br />DedicatedComplainer?<br />Are the facts correct?<br />Yes<br />Yes<br />No<br />No<br />Yes<br />Respond in kind & share<br />Thank the person<br />Comedian Want-to-Be?<br />Explain what is being done to correct the issue.<br />Is the problem being fixed?<br />Yes<br />No<br />Yes<br />Let post stand and monitor.<br />
    14. One department controls all efforts<br />Consistent<br />May not be as authentic<br />e.g. Ford<br />Centralized<br />14<br />
    15. Organic growth<br />Authentic<br />Experimental<br />Not coordinated<br />e.g. Sun<br />Organic<br />15<br />
    16. One hub sets rules, best practices, procedures<br />Business units undertake own efforts<br />Spreads widely around the org<br />Takes time<br />e.g. Red Cross<br />Coordinated<br />16<br />
    17. Similar to Coordinated but across multiple brands and units <br />e.g. HP<br />Multiple hub and spoke or “Dandelion”<br />17<br />
    18. Each employee is empowered<br />Unlike Organic, employees are organized.<br />e.g. Dell, Zappos<br />Holistic or “Honeycomb”<br />18<br />
    19. Social strategist: Responsible for the overall program, including ROI<br />Community manager: Customer facing role trusted by customers<br />Roles<br />19<br />
    20. 3) Customers don’t care what department you’re in<br />© 2010 Altimeter Group<br />Used with creative commons http://www.flickr.com/photos/faikevin/3176938440/<br />
    21. 22<br />Customer don’t care what department you’re in<br />
    22. Now, with social tools, every employee can talk to customers and prospects.  <br />Yet, this could create confusion with clients. <br />New systems will be needed to centralize data so customers have a holistic experience. <br />Customers deserve a holistic approach<br />23<br />
    23. Connects the Social Web with existing CRM Systems<br />Enables Brands to better manage relationships<br />Catch leads in real time<br />Allow for better account management<br />Anticipate customer needs<br />Social CRM helps companies catch up<br />24<br />
    24. The 18 Use Cases of Social CRM<br />1. Social Customer Insights: The 5M’s<br />Marketing<br />Sales<br />Service & Support<br />Innovation<br />Collaboration<br />CustomerExperience<br />2. Social Marketing Insights<br />6. Social Sales Insights<br />9. Social Support Insights<br />12. Innovations Insights<br />14. Collaboration Insights<br />17. Seamless Customer Experience<br />3. Rapid Social Marketing Response<br />7. Rapid Social Sales Response<br />10. Rapid Social Response<br />13.Crowdsourced R&D<br />15. Enterprise Collaboration<br />18. VIP Experience<br />4. Social Campaign Tracking<br />8.Proactive Social Lead Generation<br />11. Peer-to-Peer Unpaid Armies<br />16. ExtendedCollaboration<br />5. Social Event Management<br />© 2010 Altimeter Group <br />Attribution-Noncommercial-Share Alike 3.0 United States<br />
    25. Not All 18 Social CRM Use Cases are Market Ready<br />© 2010 Altimeter Group <br />Attribution-Noncommercial-Share Alike 3.0 United States<br />
    26. Used with creative commons http://www.flickr.com/photos/faikevin/3176938440/<br />4) Real time is *not* fast enough<br />© 2010 Altimeter Group<br />
    27. Evolution of the web<br />28<br />
    28. 29<br />Real time is not fast enough<br />
    29. Microsoft’s MVPs empowers community<br />
    30. Walmart’s 11 Moms gives consumers a voice<br />
    31. The Four Laws Of Social Business<br />32<br />
    32. How To Prosper<br />33<br />
    33. 34<br />THANK YOU<br />Jeremiah Owyang<br />jeremiah@altimetergroup.com<br />web-strategist.com/blog<br />Twitter: jowyang<br />
    34. 35<br />About Us<br />Altimeter Group is a Silicon Valley-based strategy research and<br />consulting firm that provides companies with a pragmatic<br />approach to disruptive technologies. We have four areas of<br />focus: Leadership and Management, Customer Strategy,<br />Enterprise Strategy, and Innovation and Design.<br />Visit us at http://www.altimetergroup.com or contact info@altimetergroup.com.<br />

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