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Developing A Social Strategy Webinar

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Altimeter Group Webinar "Developing A Social Strategy", February 24, 2010 by Charlene Li and Jeremiah Owyang.

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Developing A Social Strategy Webinar

  1. Developing a Social Strategy<br />Charlene Li<br />Altimeter Group<br />February 24, 2010<br />1<br />Jeremiah Owyang<br />Altimeter Group<br />#socialstrategy<br />
  2. Research is the foundation of any strategy.<br />Our first webinar (Part 1) of this series focused on how to use socialgraphics to create your own Engagement Pyramid.<br />This webinar (Part 2) will focus on developing a social strategy based on business goals.<br />The next webinar (Part 3) will explain how to get your company ready to execute a social strategy.<br />A 3-part series<br />2<br />
  3. It’s not about the technologies<br />3<br />
  4. Focus on relationships, not technologies<br />4<br />
  5. Social Strategy<br />
  6. Four goals define your strategy, but always start with learn<br />6<br />
  7. Learn with monitoring tools<br />7<br />
  8. Paid services provide monitoring<br />8<br />Other providers<br />BuzzmetricsCymfony<br />Dow Jones <br />Scout Labs<br />Techrigy/Alterian<br />Visible Technologies<br />From Radian 6<br />
  9. Ethnographic research using Delicious<br />9<br />
  10. Dialog with your community<br />10<br />
  11. 11<br />Curating<br />Engagement Pyramid: Focus on Watching and Sharing<br />Producing<br />Commenting<br />Sharing<br />Watching<br />
  12. At Southwest, a planner engages<br />12<br />This post received 98 comments over 10 days. In the future, everyone is a marketer.<br />
  13. DellOutlet drives sales with Twitter<br />13<br />
  14. Kohl’s engages directly with customers<br />14<br />
  15. Help your members support each other<br />15<br />
  16. Wells Fargo Supports Customers<br />16<br />Ask Wells Fargo supports customers in real time –while keeping true to their bankers hours tradition. Rather than hide behind a logo, they use real human voices and names, increasing trust<br />
  17. Premier Farnell supports engineers with community, and employees with “OurTube”<br />17<br />
  18. Starwood guests help each other<br />18<br />FlyerTalk has over 20,000 threads on the site, with up to tens of thousands of views each. Starwood guests are visiting the forum and finding answers, while Starwood collects market intelligence. <br />
  19. Microsoft’s MVP Experts Support –and Advocate<br />19<br />Microsoft’s MVP programs nominates helpful customers and professionals once a year. This unpaid army supports other customers –and becomes community advocates<br />* Disclosure: Microsoft is an Altimeter Client, learn more about our disclosure policy at<br />
  20. Innovate with customer feedback<br />20<br />
  21. Gauging interest for Bacon Salt<br />21<br />Makers of BaconSalt reached out to fans of bacon on MySpace to gauge interest in their new product. Baconaisse and bacon-flavored sunflower seeds were later created after listening to customer requests.<br />
  22. Fiat gathers product and market intelligence<br />22<br />Contributors submit ideas, and can include pictures and embed videos. Fiat gets valuable ideas for features and design, and marketing and advertising.<br />
  23. P&G used ratings & reviews to improve<br />23<br />
  24. Dell innovates across the organization<br />24<br />Use new listening platforms, identify in-house and external experts, and know and influence key people<br />
  25. What to do first<br />
  26. #1 Start small, start now<br />26<br />At the least, listen to learn<br />Pick a goal<br />
  27. Where to start? Align social with strategic goals<br />27<br />Examine your 2010 goals<br />Pick one where social can have an impact <br />
  28. 28<br />#2 Understand the value<br />What’s the value of a fan or follower?<br />16,965 followers<br />+4 million fans<br />
  29. + Value of purchases<br />- Cost of acquisition<br />= Customer lifetime value<br />+ Value of new customers from referrals<br />+ Value of insights<br />+ Value of support<br />The new lifetime value calculation, based on your goals<br /><ul><li> Percent that refer
  30. Size of their networks
  31. Percent of referred people who purchase
  32. Value of purchases
  33. Percent that provide support
  34. Frequency and value of the support</li></ul>+ Value of ideas<br />
  35. Find more fans with large networks<br />Encourage fans to make more referrals<br />Make decisions with metrics<br />30<br />
  36. #3 Prepare for new workflows<br />Social technologies will disrupt traditional organization structures<br />
  37. Organize for different types of openness<br />32<br />
  38. #4 Practice Open Leadership<br />33<br />When people get what they need from each other<br />Have the confidence to let go and still inspire results<br />
  39. 34<br />Open Leadership<br />Having the confidence and humility to give up the need to be in control, while inspiring commit-ment from people to accomplish goals. <br />
  40. 10 elements of openness<br />35<br />
  41. Social + open = competitive advantage<br />36<br />+2,200 Best Buy employees answer questions sent to @twelpforce <br />
  42. Plan to fail well – Wal-Mart case study<br />37<br />
  43. Buyer blog hit the right note<br />38<br />
  44. Build trust and manage risk <br />39<br />The Sandbox Covenant<br />
  45. Like any relationship, the best ones are best on built on listening and understanding. <br />Pick one goal and master that, then layer on more.<br />When choosing a social strategy goal, align it with your business goals and those of your customers.<br />Benchmark your progress based upon your business goals, not “engagement” data. <br />Change your mindset: letting go will yield more results. <br />Summary<br />40<br />
  46. 41<br />41<br />Thank you<br />Charlene Li<br /><br /><br />Twitter: charleneli<br />Jeremiah Owyang<br /><br /><br />Twitter: jowyang<br />
  47. 42<br />About Us<br />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.<br />Visit us at or contact<br />
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Altimeter Group Webinar "Developing A Social Strategy", February 24, 2010 by Charlene Li and Jeremiah Owyang.


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