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Doing Better with Less


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Why is the social networks phenomenon relevant to business?

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Doing Better with Less

  1. 1. Doing better with less <ul><li>Why is the social networks phenomenon relevant to business? </li></ul>London, 22 nd October 2003
  2. 2. Agenda <ul><li>Context, purpose, objectives </li></ul><ul><li>Why is the social networks phenomenon relevant to business? </li></ul><ul><li>What does this mean for you? </li></ul><ul><li>Discussion, Q&A </li></ul>
  3. 3. The law firm group <ul><li>History </li></ul><ul><li>Recently worked on </li></ul><ul><ul><ul><li>Metrotwin – social utility </li></ul></ul></ul><ul><ul><ul><ul><li>British Airways </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Recommendation engine </li></ul></ul></ul></ul><ul><ul><ul><li>Carphone Warehouse </li></ul></ul></ul><ul><ul><ul><ul><li>Social, eCommerce strategy </li></ul></ul></ul></ul><ul><li>Working on </li></ul><ul><ul><ul><li>User generated viral video </li></ul></ul></ul><ul><ul><ul><ul><li>Food brand </li></ul></ul></ul></ul><ul><ul><ul><li>Web syndication engine </li></ul></ul></ul><ul><ul><ul><ul><li>Transactions in the ‘long tail’ </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Insurance industry </li></ul></ul></ul></ul>
  4. 4. The Big Picture – Arrival of the Network Economy
  5. 5. The Big Picture – Hierarchy to Network <ul><li>Open Source </li></ul><ul><ul><ul><li>Slime mould, Swarms & Emergent behaviour </li></ul></ul></ul><ul><ul><ul><li>Peer production proven to outperform conventional command & control organisation </li></ul></ul></ul><ul><ul><ul><li>SourceForge: 180k projects, 1.9m users </li></ul></ul></ul><ul><ul><ul><li>Yochai Benkler – Linux and the nature of the firm </li></ul></ul></ul><ul><li>Open Source Census </li></ul><ul><ul><ul><li>Europe shows the highest usage with the United States lagging behind </li></ul></ul></ul><ul><ul><ul><li>US Law: Open Source mandated for IT healthcare systems </li></ul></ul></ul><ul><ul><ul><li>The rise of Ubuntu (& the fall of Microsoft?) </li></ul></ul></ul>
  6. 6. The Big Picture – Social software changes behaviour <ul><li>The Social Software Revolution </li></ul><ul><ul><ul><li>300m+ individuals in social networks and online communities (internet users just passed 1bn mark) </li></ul></ul></ul><ul><ul><ul><li>YouTube grew from 1 to 100 million users in 18 months; Google took 72 months </li></ul></ul></ul><ul><ul><ul><li>At December 2007, there were 50m virtual world users, led by Second Life with 11m </li></ul></ul></ul><ul><ul><ul><li>Facebook </li></ul></ul></ul><ul><ul><ul><ul><li>More than 150 million active users </li></ul></ul></ul></ul><ul><ul><ul><ul><li>More than 800 million photos uploaded to the site each month </li></ul></ul></ul></ul><ul><ul><ul><ul><li>More than 20 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) shared each month </li></ul></ul></ul></ul><ul><ul><ul><ul><li>More than 20 million active user groups exist on the site </li></ul></ul></ul></ul>
  7. 7. The Big Picture – Markets are conversations <ul><li>The year of Twitter </li></ul><ul><ul><ul><li>2000 new users per day </li></ul></ul></ul><ul><ul><ul><li>Approaching 5m users </li></ul></ul></ul><ul><ul><ul><li>Celebrity take up </li></ul></ul></ul><ul><ul><ul><ul><li>Stephen Fry </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Jonathan Ross </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Comedians </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Obama has the highest number of followers on Twitter </li></ul></ul></ul></ul><ul><ul><ul><li>Serious business use </li></ul></ul></ul><ul><ul><ul><ul><li>News gathering </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Market intelligence </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Product announcements </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Dell, Ford, Kodak, Samsung, Starbucks </li></ul></ul></ul></ul></ul><ul><ul><ul><li>New ways of story telling </li></ul></ul></ul><ul><ul><ul><ul><li>Japan </li></ul></ul></ul></ul><ul><li>The year of monetizing data </li></ul><ul><ul><ul><li>‘ Sentiment engines’ </li></ul></ul></ul>
  8. 8. So what?
  9. 9. So what? Classes of Business Benefit Intangible Tangible Source of contribution Customer Loyalty & Brand Awareness Direct Revenue Lower Operational Expense Comment Customer/Member profile √   √ Customer intelligence & extending market reach at low cost Advocacy/pass through revenue √ √ √ Sales channel for complimentary products/services Group Discounts √ √   Special offers to subscribers Affiliation √ √   Viral sales Member-Member commerce √ √   Packaging brand products to serve customer's own network Offline events √ √   Forms deeper relationships Competitive research √ √ √ Access to opinions using polls/surveys Product development & feedback √ √ √ Lower service development costs Peer-to-peer self-help √ √ √ Reduces contact centre traffic Membership √ √ √ Friends invitations. Member get member
  10. 10. How? <ul><li>The implications of the end user supplying itself are far reaching </li></ul><ul><li>Small pieces loosely joined </li></ul><ul><li>Simple, lightweight tools (‘doing better with less’) </li></ul><ul><ul><ul><ul><li>Mashups, widgets </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Web 1.0 vs Web 2.0 </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>1.0 Centralised. People come to you (pull) </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>2.0 De-centralised. Go to where people are (push) </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><li>Imaginative use of ‘ Cloud Web services’ </li></ul></ul></ul></ul><ul><li>Smarter organisation </li></ul><ul><ul><ul><li>Re-use of excess capacity </li></ul></ul></ul><ul><ul><ul><li>‘ Bioteams’ </li></ul></ul></ul><ul><ul><ul><ul><li>Swarm behaviour </li></ul></ul></ul></ul><ul><ul><ul><li>From Intranets to social networks </li></ul></ul></ul>
  11. 11. Network statistics <ul><li>“ People have figured out they get far better information and support from one another than the companies that are supposed to serve them”. </li></ul>
  12. 12. Discovery of unmet needs
  13. 13. Discuss, Q&A <ul><li>L’Oreal – Write a priceless ad </li></ul><ul><li>McDonald’s Global Casting </li></ul><ul><li>Nokia – Share your idea </li></ul><ul><li>Muji </li></ul><ul><li>“ make and send us an object for a place in your home we don’t have a product for” </li></ul>