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How to Spark A Conversation Revolution - AND Keep Your Job

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Charlene Li
Charlene Li

The document discusses how companies can spark a conversation revolution and engage with customers through social media. It recommends that companies focus on building intimate, loyal relationships with customers rather than just transactions. Companies should start small by experimenting, listening to customers, and using social media engagement metrics to measure success. Proper preparation is key, such as assessing company culture, identifying risks, and getting the right help to support conversation efforts. The overall goal is for companies to thoughtfully transform how they interact with customers through respectful, ongoing dialogue.

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How To Spark A Conversation Revolution — AND Save Your Job Charlene Li Founder, Altimeter Group Co-author of “Groundswell”
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How most marketing works
What kind of relationship do you want? Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal Focus on relationships, not technologies
Engagement Pyramid Focus on the bottom Base: Global active Internet users (uses the Internet every day/every other day Note: Percent of active Internet users that do this at least weekly Source: Universal McCann Social Media Tracker Wave 3, March 2008 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Start with clear goals
Oracle’s big gamble Oracle put a roadblock on its own home page to encourage feedback/ideas Executives participated in the online community
Let’s talk about taxes
Wells Fargo Wachovia Blog
Dialog with Frank Eliason, Comcast
Dawn supports with reviews
Starbucks innovates with customers 50 employees participate in the process, representing every department
Getting Started a.k.a. Convince the Curmudgeon
#1 Assess your company ,[object Object],[object Object],[object Object],[object Object]
“ Who owns community?” is really three questions Who will pay for the efforts? Who benefits the most? Who is best able to run the project? Who is closest to the audience? Who can inspire and lead? Who can clear the roadblocks?
#2: Start small Experiment Listen first
#3 Use the right metrics Your goals determine your metrics Use the same metrics as your marketing goals
Example “micro” metrics
Higher order metrics to consider How likely are you to recommend this to someone you know? Net Promoter Score Lifetime revenue Cost of acquisition Cost of retention Customer referral value (CRV) Lifetime Value
#4: Get the help you need See a list at wiki.altimetergroup.com
How to find good help ,[object Object],[object Object],[object Object],[object Object],[object Object]
#5 Prepare for failure Identify the top 5-10 worst case scenarios. Develop mitigation and contingency plans. Prepare everyone for the inevitable failures.
Wal-mart failed many, many times
Buyer blog hit the right note
Photo: Kantor, http://www.flickr.com/photos/kantor
An essential tool to have
Summary ,[object Object],[object Object],[object Object]
May the groundswell always be with you. Charlene Li Altimeter Group [email_address] blog.altimetergroup.com Copyright © 2008 Altimeter Group

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