Monetary Meltdown Madness

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how enterprise social software can be used to manage better business during a downturn

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  • Mr Banker works at XYZ bank… they sell financial products such as savings, investments, insurance<number><number>
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  • Mr Banker works at XYZ bank… they sell financial products such as savings, investments, insurance<number>
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  • A social network facilitates idea creation, because it is open and transparent. If all employees have visibility of an idea, they will start to add to that person’s idea rather than try an steal it and present it as their own. Once the idea is “out there”, everyone can contribute to the idea and be recognized for their contribution.<number>
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  • I will post this video on my blog too http://robgray.org/?p=60<number>
  • 20% of people bring 80% of the benefit<number>
  • 20% of people bring 80% of the benefit<number>
  • 99
  • Monetary Meltdown Madness

    1. 1. WHO
AM
I?

    2. 2. 1
 2
 3
 4
 5

    3. 3. 3
 This

is
how
ac/ve
I
 am
in
our
internal
 social
network
 4

    4. 4. This
is
 what
I
 do
 This
is
what
I
 say
that
I
know

    5. 5. This

is
what
I
 actually
know,
 based
on
what
I
do

    6. 6. Here
are
my
external
links…
 (twiBer,
blog
etc.)

    7. 7. This
is
my
online
CV
 (available
on
my
user
 profile)

    8. 8. Two
colleagues
of
mine
 also
used
to
work
at
 MicrosoL…

    9. 9. This
is
my
personal
network.
It’s
 generated
automa/cally
based
 on
who
I
work
with.
I
don’t
“add
 friends”
to
my
network

    10. 10. These
are
people
that
share
 interests
with
me

    11. 11. These
are
the
people
that
read
and
comment
my
 work
the
most…
as
you
can
see
Carlos
Diaz
is
the
 person
that
reads
my
stuff
the
most.


    12. 12. Carlos
is
our
CEO

    13. 13. ENOUGH
ABOUT
ME…

    14. 14. This
poll
will
s/ll
be
open
for
a
few
days,
 and
is
posted
to
hBp://robgray.org/?p=66

 You
can
vote
if
you
have
a
UK
mobile

    15. 15. In
a
/me
of
crisis,
there
is
a
tendency
to
 focus
on
cost
reduc/on…


    16. 16. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    17. 17. But
a
crisis
is
oLen
the
right
/me
to
be
 focusing
on
innova/on…

    18. 18. This
is
oLen
overlooked
because
everyone’s
 focusing
on
the
crisis…

    19. 19. Get
rid
of
this
machine
gun
salesman
–
 can’t
you
see
I’m
busy
figh/ng
a
war?

    20. 20. Three
areas
where
Enterprise
Social
 Networking
(ESN)
can
provide
benefit…

    21. 21. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    22. 22. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    23. 23. Here
are
some
examples
of
how
organisa/ons
have
 used
ESN
to
reduce
costs…

    24. 24. Saving
Money
 Market
Research
 Events
 Staff
ramp‐up
/me

    25. 25. In
these
examples…
“names
have
been
 changed
to
protect
the
innocent”

    26. 26. “The
Bank”
sells
various
products
 Savings
 Insurance
 Investments
 Pensions
 Mortgages

    27. 27. Mike
is
an

 Independent
Financial
 Advisor
(IFA)

    28. 28. “The
Bank”
values
Mike
as
he
is
the
one
 who
actually
sells
these
products
to
 customers.
He’s
like
an
employee
to
them…

    29. 29. …and
he
makes
them
a
lot
of….

    30. 30. “The
Bank”
needs
 Savings
 to
communicate
 Insurance
 new
products
to
 Investments
 Mike
and
other
IFAs
 Pensions
 across
the
country
 Mortgages
 They
also
need
to
gather
feedback
 from
Mike,
in
order
to
understand
how
 they
can
beBer
server
their
customers

    31. 31. “The
Bank”
 Savings
 communicates
new
 Insurance
 product
launches
to
 Investments
 IFA’s
through
 Pensions
 mul/ple
regional
 Mortgages
 events
(costly)


    32. 32. Feedback
from
all
 IFA’s
is
gathered
a
 few
/mes
a
year
via
 a
Market
Research
 company

    33. 33. The
results
are
 gathered
together
in
a
 report
for
“The
Bank”
 which
costs
a
lot
of…

    34. 34. So...
the
Bank’s
rela/onship
 with
their
“valued”
virtual
 employees
was
handled
by
a
 third
party…

    35. 35. This
way
of
doing
things
was
a
 liBle
outdated…
 
and
quite
expensive…


    36. 36. Fortunately
there
was
another
way…

    37. 37. With
a
private
social
 network,
they
can
 connect
communi/es
 of
marketers,
experts
 and
IFAs

in
one
place

    38. 38. Market
Research
in
this
 area
can
be
eliminated,
 because….

    39. 39. There
is
now
a
2‐way
‘conversa/on’
 New
Savings
Product
for
small
biz…
it’s
wonderful,
brilliant,
great,
blah
blah
blah
 Everyone
will
want
one,
massive
interest
rates
for
business
 See
our
exclusive
Obama
video….

 My
customers
are
not
buying
it
because
no
saving
guarantee
for
 business
 I
had
the
same
problem.
It
would
be
great
if
…
we
could
offer
this
to
small
 business,
my
customers
are
in
panic
mode
 Customers
are
leaving...
same
problem
up
in
Manchester….

 Let’s
guaranteee
this
for
small
business

    40. 40. New
Savings
Product
for
small
biz…
it’s
wonderful,
brilliant,
great,
blah
blah
blah
 Everyone
will
want
one,
massive
interest
rates
for
business
 See
our
exclusive
Obama
video….

 Communica/on
goes
 directly
to
mul/ple
 “people
groups”
/
 communi/es

    41. 41. These
“cross‐group”
conversa/ons,
lead
to
 ac/on
within
hours
or
days…

    42. 42. New
Savings
Product
for
small
biz…
it’s
wonderful,
brilliant,
great,
blah
blah
blah
 Everyone
will
want
one,
massive
interest
rates
for
business
 See
our
exclusive
Obama
video….

 My
customers
are
not
buying
it
because
no
saving
 guarantee
for
 business
 I
had
the
same
problem.
It
would
be
great
if
…
we
could
offer
this
to
small
 business,
my
customers
are
in
panic
mode
 Customers
are
leaving...
same
problem
up
in
Manchester….

 Let’s
guaranteee
this
for
small
business
 “cross‐group”
conversa/ons
include
people
 from
all
the
relevant
communi/es

    43. 43. Communica/on
 Feedback
 Take
Ac/on

    44. 44. The
benefits
are
clear:

 (easier,
cheaper
communica/on
to
IFAs
about
 new
products,
with
an
instant
feedback
 mechanism)
 But
the
business
case
is
built
around
saving
 money
($$$$$$$$$$)

    45. 45. Savings
 £268K
 £164K
 Before
 ALer
 £55K
 £32K
 Market
Research
 Events

    46. 46. Savings
 £345K
 £236
 £109
 =
 +
 Before
 ALer
 Market
Research
 Events

    47. 47. Savings:
£345K
of
cost
per
year
eliminated
 Costs:
Approx
£75K
per
year
spent
on
 implemen/ng
the
social
network
(including
 hardware,
soLware,
hos/ng,
maintenance,
 management)
 Future:
Next
year
they
plan
on
reducing
the
 number

“IFA
helpline”

call
centre
staff
=
 addi/onal
*significant*
saving

    48. 48. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    49. 49. The
Innova/on
Process
–
how
does
an
idea
 become
a
marketable
product
or
service?

    50. 50. Innova/on
 Marketable
 Failure
/ Product
/
 Idea
 Refinement
 Perseverance
 Success
 Service
 It
always
takes
 more
than
 one
person
to
 bring
an
idea
 to
frui/on

    51. 51. An
example
from
our
own
organisa/on,
how
 an
idea
became
a
new
part
of
our
product…

    52. 52. Here
is
a
graph
showing
ideas
inside
our
 company
over
/me…
and
a
feed
of
notes
 star/ng
with
the
latest

    53. 53. These
are
specific
ideas
from
our
own
UK
community,
 in
order
of
number
of
views…
 This
one
is
a
 note
about
 Apple’s
 announcement
 of
Enterprise
 apps
for
the
 iPhone

    54. 54. Christophe
our
CTO,
asks
whether
we
should
 develop
an
iPhone
app

    55. 55. His
idea
has
been
viewed
over
127
/mes
and
 generates
14
comments
from
developers,
sales,
 marke/ng,
exec
team,
our
partners
and
customers.


    56. 56. Within
a
day,
we’ve
gathered
enough
opinion
in
order
to
 make
our
decision….
“It’s
technically
feasible,
customers
want
 it,
and
could
we
also
do
something
for
blackberry?”

    57. 57. We
start
development
3
weeks
later
and
will
 include
it
in
our
future
product
release

    58. 58. One
of
our
customers
is
using
blueKiwi
as
an
 “idea
genera/on
space”…
so
far
employees
 have
generated
over
50
new
ideas
for
the
 company,
which
are
now
in
the
product
 development
pipeline….

    59. 59. Innova/on
 Marketable
 Failure
/ Product
/
 Idea
 Refinement
 Perseverance
 Success
 Service

    60. 60. Recap:
being
more
compe//ve
 New
Ideas
 Faster
/me
to
market
 Market
Intelligence

    61. 61. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    62. 62. Reducing
Costs
 MMM
 2.0
 Produc/vity
 Innova/on

    63. 63. Produc/vity
 Find
Experts
 Reduce
Duplica/on
of
effort
 High
performance
virtual
teams

    64. 64. Produc/vity
 Find
Experts
 Reduce
Duplica/on
of
effort
 High
performance
virtual
teams

    65. 65. Exper/se
is
generated
automa/cally
based
on
 what
you
read,
write
and
comment
about.
 Each
person
has
a
“personal
tag
cloud”

    66. 66. Remember
my
profile
from
the
introduc/on?
 Here’s
a
reminder…

    67. 67. This

is
what
I
 actually
know,
 based
on
what
I
do

    68. 68. This
helps
when
it
comes
to
finding
experts

    69. 69. Exper/se
is
based
on
my
self‐profiled
tags,
as
 well
as
my
dynamic
personal
tag
cloud

    70. 70. VIDEO
DEMO:
FINDING
EXPERTS

    71. 71. I’ve
uploaded
the
previous
video
on
my
blog

 hBp://robgray.org/?p=60

    72. 72. Finding
people
helps
get
the
job
done
faster.

 Very
beneficial,
but
it’s
very
difficult
to
 measure
this
against
a
cost
saving,
which
is
 why
we
seldom
do
a
business
case
around
 produc/vity
alone…
but
you
MUST
include
it

    73. 73. Produc/vity
 Find
Experts
 Reduce
Duplica/on
of
effort
 High
performance
virtual
teams

    74. 74. The
“Pareto
Principle”
of
Team
Performance

    75. 75. In
any
team
you
have
a
few
stars,
then
mostly
 “normal”
performers,
and
a
few
poor
 performers

    76. 76. According
to
the
Sales
Benchmarking
Index
 13%
of
Sales
people
bring
in
over
80%
of
the
 revenue

    77. 77. A
few
stars
bring
in
most
of
the
revenue

    78. 78. In
a
global
sales
community,
the
stars
can
 share
their
success
stories,
visible
to
their
 peers,
managers
and
the
execu/ve
team

    79. 79. “Stars”
Share
Success
Stories

    80. 80. All
sales
 teams
 globally
 have
 visibility
 of
this

    81. 81. The
whole
community
 learns
from
each
other

    82. 82. And
becomes
more
effec/ve

    83. 83. To
Recap
some
of
the
benefits….

    84. 84. Reducing
Costs
 •  £345K
events
&
 research
 •  Future
saving
on
call
 centre
costs
 Marketable
 Failure
/ Product
/
 Idea
 Refinement
 Perseverance
 Success
 Service
 MMM
 2.0
 Produc/vity
 Innova/on
 •  Find
exper/se
 •  Improve
team
 •  50
New
products
in
 effec/veness
 development
 •  Reduce
ramp‐up
 /me

    85. 85. How
to
get
rapid
results…

    86. 86. Experience
(successful
and
unsuccessful
 projects)
has
taught
us
how
to
get
buy‐in…
 and
deliver
quickly
at
a
low
cost


    87. 87. Gexng
buy‐in
 FOCUS:
Iden/fy
ONE
business
goal
 Iden/fy
measurable
outcomes
 Create
a
vision
 Communicate
the
vision
 Achievable
Implementa/on
plan

    88. 88. The
decision
to
go
ahead
is
just
the
beginning

    89. 89. Implementa/on
Plan
 Identify Focused With steering End user training steering Event group Internal group, (real / virtual) Marketing, champions & Community pilot stimulation, members Analysis & review Identify Executive sponsors 4 1 2 3 5
    90. 90. Measuring
success
is
important

    91. 91. Success
Scorecard
 Reduce
Costs
 •  Market
Research:
£250K

 •  Events:
£100K
 •  Call
Center:
over
£300K
 Increase
Revenue
 •  Revenue
per
IFA
 Staff
 •  Reduce
ramp‐up
/me
(/me
to
first
deal)
 Engagement
 •  Community
ac/vity
 •  Ac/ve
vs
Inac/ve
 •  #readers,
#commenters

    92. 92. Measuring
engagement
and
 success
of
the
community
 against
your
goals…

    93. 93. Thanks! My Twitter conversations My Blog

    ×