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Tapping The Power of the Groundswell

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How to think about customer engagement
Goal-oriented strategies for social technologies
What the future holds
Recommendations and next steps

Published in: Business, Technology

Tapping The Power of the Groundswell

  1. Tapping The Power Of The Groundswell Charlene Li Altimeter Group June 5, 2009 If you would like a copy of the slides, please leave a business card with me.
  2. Welcome to the Groundswell Where social technologies enable people to get what they need from each other
  3. Coca-Cola spreads conversations through its fans
  4. Agenda <ul><li>How to think about customer engagement </li></ul><ul><li>Goal-oriented strategies for social technologies </li></ul><ul><li>What the future holds </li></ul><ul><li>Recommendations and next steps </li></ul>
  5. What marketing often looks like today
  6. Basic online activity is just a start Source: Pew Internet & American Life Project Tracking surveys (August 2006 to May 2008) Percent of Internet users who report ever doing this activity
  7. The Engagement Pyramid Source: Universal McCann Social Media Tracker Wave 3, March 2008 *Source: Wiki data from Wetpaint, forum data from Lithium Technologies **Source: Pew Internet & American Life Project Tracking surveys <ul><li>Share online video – 37% </li></ul><ul><li>Update profile – 35% </li></ul><ul><li>Upload photos – 23% </li></ul><ul><li>Watch online video – 59% </li></ul><ul><li>Read blogs – 48% </li></ul><ul><li>Download podcasts – 23% </li></ul><ul><li>Edit a wiki – <1%* </li></ul><ul><li>Moderate a forum – <1% </li></ul><ul><li>Write in a blog – 21% </li></ul><ul><li>Upload a video – 18% </li></ul><ul><li>Write in a discussion forum – 47%* </li></ul><ul><li>Rate a product or service – 32%** </li></ul><ul><li>Comment on a blog post – 22%** </li></ul>
  8. How engaged are YOU?
  9. Agenda <ul><li>How to think about customer engagement </li></ul><ul><li>Goal-oriented strategies for social technologies </li></ul><ul><li>What the future holds </li></ul><ul><li>Recommendations and next steps </li></ul>
  10. What kind of relationship do you want? Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal Focus on relationships, not technologies
  11. Four strategies, start with Learn
  12. Learn with monitoring tools
  13. No size fits all for monitoring <ul><li>River of “noise” versus insight </li></ul><ul><li>Need for scenario-based monitoring </li></ul><ul><ul><li>Response to detractors </li></ul></ul><ul><ul><li>Analytics for planning </li></ul></ul><ul><ul><li>Listen by audience/site </li></ul></ul><ul><ul><li>Sentiment tracking/audits </li></ul></ul>
  14. How Oracle encouraged feedback
  15. How to learn better <ul><li>Determine where fast, flexible learning is most needed to support business goals </li></ul><ul><li>Figure out who you need to listen to , and where they are </li></ul><ul><li>Find out who is best at listening to that audience </li></ul><ul><ul><li>Hint: It’s probably not Market Research </li></ul></ul>
  16. B2B Twitter encourages engagement
  17. At Southwest, a planner talks Post has received 98 comments over 10 days In the future, everyone is a marketer
  18. Cable problems? Who do you call?
  19. BlueShirtNation.com supports Best Buy’s front line employees
  20. Salesforce innovates with customers
  21. Agenda <ul><li>How to think about customer engagement </li></ul><ul><li>Goal-oriented strategies for social technologies </li></ul><ul><li>What the future holds </li></ul><ul><li>Recommendations and next steps </li></ul>
  22. Social networks will be like air
  23. Three things are needed to make social networks like air <ul><li>Identity – who you are </li></ul><ul><li>Contacts - who you know </li></ul><ul><li>Activities – what you do </li></ul>And it’s still very early, so patience is needed
  24. My identity, in context Author, researcher, strategist Chauffeur, cook, play date organizer
  25. Social aggregators can map your relationships Source: 33Across <ul><li>Map explicit relationships </li></ul><ul><li>Identify “Influencers” who are connected AND share </li></ul><ul><li>Vendors: </li></ul><ul><li>33Across </li></ul><ul><li>Lotame </li></ul><ul><li>- Rapleaf </li></ul>
  26. Implicit social data fills in the relationship gaps
  27. Sharing activities to networks Publish reviews from CitySearch to Facebook Both CitySearch and Facebook get behavior and sharing data Bring friends to CitySearch
  28. Aggregators can build rich profiles Who I email the most Who I meet with Who I call What I read and share What sites I visit What I buy Who I know, what I did
  29.  
  30. Evolution of profiles
  31. “ Birds of a feather shop together” “ Lisa” buys on NineWest.com Media6 maps “network neighbors” based on visits to profile sites via browser cookies (no PII involved) 2 1 3 NineWest ads are shown to Lisa’s closest friends, without identifying or involving Lisa
  32. The rise of the personal CPM <ul><li>Target & price on: </li></ul><ul><li>Influence </li></ul><ul><li>Number of friends </li></ul><ul><li>Influence among friends </li></ul><ul><li>Number of influential friends </li></ul>
  33. Agenda <ul><li>How to think about customer engagement </li></ul><ul><li>Goal-oriented strategies for social technologies </li></ul><ul><li>What the future holds </li></ul><ul><li>Recommendations and next steps </li></ul>
  34. #1 Get the right people on the bus
  35. Find your revolutionaries Lionel Menchaca Dell Ed Terpening Wells Fargo Paula Drum H&R Block
  36. Have a plan to deal with different social media mindsets Find the “moments of faith” and “moments of crisis” for each mindset Insecure Confident Dependent Independent
  37. #2 Start small, but start now Tactics Audience Goal Revolutionary
  38. #3 Evaluate where social makes sense <ul><li>Identify where social network data and content can/should be integrated in the business </li></ul><ul><li>Leverage existing identity and social graphs where your audience already is, e.g. Facebook Connect, Google Connect, LinkedIn </li></ul><ul><li>Get your privacy and permission policies and processes aligned with an open strategy </li></ul><ul><li>Find your trust agents and partners </li></ul><ul><ul><li>“ In Google I trust”, or someone else? </li></ul></ul>
  39. Get your backend data in order Have a single identity for all customer records Understand new data standards of the open social Web Integrate mobile
  40. #4 Prepare for a new organization New forms of leadership will be needed
  41. Social transforms traditional orgs Task Strategy Changes Market research Learn <ul><li>Monitor conversations </li></ul><ul><li>All employees listen & learn </li></ul>Marketing/Sales Dialog <ul><li>Every employee is a marketer </li></ul><ul><li>Bridge the consideration gap </li></ul>Customer support Help <ul><li>Proactively seek out problems </li></ul><ul><li>Enable customers to help </li></ul>Product development Innovate <ul><li>Seek ideas from customers </li></ul><ul><li>Broaden employees involved </li></ul>
  42. #5 Measure the right things Your goals determine your metrics Use the same metrics as your marketing goals
  43. Example “micro” metrics Goal Metric Value Learn # of customer feedback Impact of faster, better insights Dialog # of people reached # of interactions Awareness Faster, more sales Help # of issues addressed Customer satisfaction Innovate # of implemented ideas Faster, better development
  44. 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
  45. #6) Embrace the loss of control Photo: Kantor, http://www.flickr.com/photos/kantor
  46. An essential tool to have
  47. Thank You Charlene Li Altimeter Group [email_address] blog.altimetergroup.com Twitter: @charleneli If you would like a copy of the slides, please leave a business card with me. Copyright © 2009 Altimeter Group
  48. Driving sales with Twitter

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