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Simmons Leadership Conf - Charlene Li

Speech by Charlene Li "Winning in a World Transformed by Social Media" at the Simmons Leadership Conference, April 2, 2013 in Boston, MA

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Simmons Leadership Conf - Charlene Li

  1. Winning in a World Transformedby Social MediaCharlene Li, Founder & Analyst, Altimeter Group@charleneli | charlene@altimetergroup.comApril 2, 2013 | Simmons Leadership Conference
  2. 2
  3. Social is AboutRELATIONSHIPSNot Technology
  5. Why Most Social Strategies Fail No Clear Business Impact
  6. Strategy Requires Planning
  7. Six Phases of Social Business Maturity
  8. 1 Planning “Listen to Learn”8
  9. Red Cross monitors social channels duringdisasters to direct relief effortsDuring disasters, the Red Cross is able to find out about specific incidents,spot trends, and anticipate public needs. Red Cross representatives can usethe command center to quickly match disaster victims with aid relief.9
  10. 2 Presence “Stake Our Claim.”10
  11. Shell Tracks Reputation Impact…Daily
  12. Have The Courage to Take the Leap© 2011 Altimeter Group
  13. 3 Engagement “Dialog Deepens Relationships”13
  14. 14Develop rules for engagement Source: “Social Media Strategy Secret Sauce: How Intel Makes Data-driven Decisions,” Allen Stephens, Keith Molesworth, and Tiffany Peery, March 21, 2011
  15. 4 Formalized “Organize For Scale”15
  16. Ebay’s Global CoE coordinates acrossfunctions, properties, and geographies • Responsible for social strategy • Alignment of roadmaps and plans • Analytics and reporting infrastructure • Monthly Social Media Council meetings, with knowledge sharing initiatives Source:
  17. 5 Strategic “Become a Social Business”17
  18. Sephora integratessocial + digital incommunities aswell as in stores.Goal: Understandtheir “superfans” customer spendingwho spend 10X. average customer 2.5x community user superfan 10x
  19. 6 Transformation “Business is social.”19
  20. 20ARAMARK must contend with separatebusinesses and differing goals and objectives ARAMARK’s challenges: 1. Over 255K employees 2. Organized into separate businesses by industry 3. 1000s of client locations 4. Different client goals and objectives 5. Ingredient brand
  21. 21It’s equipped and enabled over 400+ locationsto manage social media – within parameters  Rebranded for social engagement, around voice, purpose, and image.  Previously siloed, now creating new processes that result in improved customer satisfaction and sales across the value chain
  23. (re)Organize Marketing for Agilityand ResilienceRigid Organizations Adaptive Organizations
  24. Success Factors of A Social Business
  25. Strategy is WhatYou Decide To DoAnd What YouDecide NOT To Do
  26. Social Business Initiatives Framework• Learn: What can be learned from customers and community Dialog• Dialog: The nature of our interactions with customers Advocate• Advocate: How to build advocacy among customers Learn and community Support• Support: How to provide support via social channels• Innovate: Using customer and Innovate community to drive innovation
  27. Plan out what will happen over time Year One Year Two Year ThreeMONTHS 1-6 MONTHS 7-12 MONTHS 1-6 MONTHS 7-12 MONTHS 1-6 MONTHS 7-12
  28. Example: Social Business Initiatives, organized 28by Goals into a 3 Year Roadmap Now – 6 6-12 12-18 18-24 24-30 30-36 Category Initiative months months months months months months Create greater loyalty to drive sales Advocate Initiative Support Initiative Advocate Initiative Advocate Initiative Advocate Initiative Increase share in SMB market Learn Initiative Dialog Initiative Dialog Initiative Advocate Initiative Create four new products Innovate Initiative Innovate Initiative Learn Initiative Reduce customer service costs Learn Initiative Dialog Initiative Support Initiative Support Initiative Support Initiative
  29. Most companies organize as Hub & Spoke,but are moving toward Multiple Hub & Spoke 9.4% 29.1% 35.4% 23.6% 2.4%
  30. 30Create Discipline In Engagement Source: “H&R Block’s Response Process” David Armano, Edelman 2010
  31. Social Media Training is About DevelopingJudgment -- and the Confidence to Use ItWhat you What you Judgment is needed in betweenshould do shouldn’t do
  33. #1 Align Executives With ClearBusiness Goals
  34. #2 Ask the Right Questions 34 About Value “We tend to overvalue the things we can measure, and undervalue the things we cannot.” - John Hayes, CMO of American Express© 2011 Altimeter Group
  35. 35#3 Create a Culture of Sharing
  36. 36 #4 Master the Art of Failure No relationships are perfect Google’s mantra: “Fail fast, fail smart”© 2011 Altimeter Group
  37. #5 Determine Your PersonalSocial Strategy
  38. Warrior engages colleagues and friendsthrough both work…
  39. 39…and personal passions
  40. Social is AboutRELATIONSHIPSNot Technology
  41. © 2012 Altimeter Group