Developing a Product Strategy Leveraging Social Media Scott K. Wilder Gary Angel July 2011
Introductions <ul><li>Gary Angel, President of Semphonic </li></ul><ul><ul><li>Co-Founder and President of Semphonic, the ...
Agenda <ul><li>Pivots </li></ul><ul><li>Tribes </li></ul><ul><li>The Process (10 Step Program) </li></ul><ul><li>Recap </l...
Organizational structure usually drives goals Which department / division owns  ‘Social?’ Measure what really matters? But...
The Pivot
Chegg: example of a Pivot <ul><li>2003: Original business plan: Craig’s list for College Students </li></ul><ul><ul><li>Wa...
Chegg! 2006 Home Page 2011 Home Page
Other Pivots <ul><li>Berkshire Hathaway: Textiles -> Private equity </li></ul><ul><li>BMW: Aircraft engines -> Vehicles </...
Challenges <ul><li>“ Say-Do” Ratio </li></ul><ul><li>Internal decision making / ownership (silos) </li></ul><ul><li>Speed ...
Understanding Tribes leads to innovation and product pivots
Tribes <ul><li>Definition: A collection of people who choose to interact due to shared interests and passions (scrapbookin...
Simple approach:  Learning about a Tribe or doing a Pivot <ul><li>Select Social Networks or Communities </li></ul><ul><li>...
1. Select/Identify Social Networks <ul><li>Conduct Google, Bing, etc. Searches </li></ul><ul><li>Use Radian6 or Scoutlabs ...
2. Sign up and participate for Community <ul><li>Be transparent </li></ul><ul><li>Don’t use a factious name, job title or ...
 
2. Read Posts Bounce Fabric Softener can keep bugs away. Who knew?
Bounce and Bugs/Mosquitos
Search Results and the Long Tail
4. Collect, Cull and Classify  Social Media Reporting with the current generation of Social Media  Monitoring  tools prese...
5. Record Observations <ul><li>People talk about Bounce being a bug repellent </li></ul><ul><ul><li>Use words like ‘Repel,...
6. Benchmark and Learn Maybe P&G should market Bounce as Mosquito repellent <ul><li>Top themes and topics on different soc...
6. Benchmark and Learn Maybe Bounce should market as Mosquito repellent Keywords on Google
6. Benchmark Social Networks <ul><li>% Relevant Content </li></ul><ul><li>% of Influencers with Relevant Content </li></ul...
7. One on one Interviews
8. Company Site Home Page Clever Ideas
8. Company site Leveraging keywords or “bug repellent”
9. “To Pivot or not to Pivot” <ul><li>Transfer learnings into products / solutions </li></ul><ul><li>Bounce Sheets: </li><...
10. Close the Loop and Measure
10. Close the Loop and Measure <ul><li>Careful measurement of Social Media provides distinct advantages vis-à-vis traditio...
10. Close the Loop and Measure <ul><li>Consider the creation of a Customer Intelligence System (CIS) </li></ul>*Slide Cour...
Let’s Recap the Process
Thank you! <ul><li>Gary Angel: </li></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li>Blog:  http://semphonic.bl...
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Social media and product dev process

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Social media and product dev process

  1. 1. Developing a Product Strategy Leveraging Social Media Scott K. Wilder Gary Angel July 2011
  2. 2. Introductions <ul><li>Gary Angel, President of Semphonic </li></ul><ul><ul><li>Co-Founder and President of Semphonic, the leading independent web analytics consultancy in the United States. Semphonic provides full-service web analytics consulting and advanced online measurement to digital media, financial services, health&pharma, B2B, technology, and the public sector. Gary blogs at http://semphonic.blogs.com/semangel </li></ul></ul><ul><li>Scott K. Wilder – Found Partner / Digital Strategist – Human 1.0 </li></ul><ul><ul><li>Human 1.0: focuses on Change Management, helping companies integrate social into their business processes and practices. Wilder also was SVP/Social Media Architect at Edelman – Digital. Before that he Founded and managed Intuit ’s Small Business Online Community and Social Programs. Before Intuit, Scott was the VP of Marketing and Product Development at Kbtoys / eToys, the founder and director of Borders.com, and held senior positions at Apple, AOL, and American Express. Scott is also a founding Board member of the Word of Mouth Marketing Association. Scott has two blogs: http://www.wildervoices.com and http://www.digitalrisks.com </li></ul></ul>
  3. 3. Agenda <ul><li>Pivots </li></ul><ul><li>Tribes </li></ul><ul><li>The Process (10 Step Program) </li></ul><ul><li>Recap </li></ul>
  4. 4. Organizational structure usually drives goals Which department / division owns ‘Social?’ Measure what really matters? But you can ’t measure everything Objectives and Goals… Marketing Product Development Customer Care To generate leads and / or drive transactions To integrate learnings/suggestions in product To enable users to get quality answers fast <ul><li>-# of leads </li></ul><ul><li># of transactions </li></ul><ul><li>Revenue minus costs </li></ul><ul><li>Cost per conversion </li></ul><ul><li>-Engagement Score </li></ul><ul><li>-Time / cost of driving innovation in organization </li></ul><ul><li>Cost per new feature (engineering hours) vs. impact of feature </li></ul><ul><li>Time to market </li></ul>-# of answers by users vs. company -# ratings of answers -Resolution rates -Reduction of costs for answers -Customer Satisfaction How to do these? How to do these? How to do these?
  5. 5. The Pivot
  6. 6. Chegg: example of a Pivot <ul><li>2003: Original business plan: Craig’s list for College Students </li></ul><ul><ul><li>Watched sales and went into books </li></ul></ul><ul><li>2007: Book rentals for college students </li></ul><ul><li>Gained traction and bought two other companies: </li></ul><ul><ul><li>Cramster: Online Study Community </li></ul></ul><ul><ul><li>Courserank: Evaluate classes and see other students votes </li></ul></ul><ul><ul><li>Notehall: Lecture notes </li></ul></ul>
  7. 7. Chegg! 2006 Home Page 2011 Home Page
  8. 8. Other Pivots <ul><li>Berkshire Hathaway: Textiles -> Private equity </li></ul><ul><li>BMW: Aircraft engines -> Vehicles </li></ul><ul><li>IBM: Punched card equipment -> Computers -> IT Consulting </li></ul><ul><li>Mannesmann: Steel pipes -> Cellular network carrier </li></ul><ul><li>Nintendo: Playing cards -> Video games </li></ul><ul><li>Nokia: Rubber boots -> Cell phones </li></ul><ul><li>Paypal: PDA payments -> Email/web payments </li></ul><ul><li>Philips: Light bulbs -> Various electronics </li></ul><ul><li>Pixar: Animation tools -> Animated movies </li></ul><ul><li>Odeo ->Twitter </li></ul>
  9. 9. Challenges <ul><li>“ Say-Do” Ratio </li></ul><ul><li>Internal decision making / ownership (silos) </li></ul><ul><li>Speed to test and make adjustments </li></ul><ul><li>Kitchen sink syndrome </li></ul><ul><li>“ It’s how we have always done it” </li></ul><ul><li>Control and command environment </li></ul><ul><li>Have a conversation with customers, business partners, etc. </li></ul><ul><li>Tools first approach, then focus on people and process </li></ul>
  10. 10. Understanding Tribes leads to innovation and product pivots
  11. 11. Tribes <ul><li>Definition: A collection of people who choose to interact due to shared interests and passions (scrapbooking, software, wine, etc.) and affinity for one another. They are characterized more by whom they like to hand out with and their behaviors vs. individual traits (income, age, location) </li></ul><ul><li>Focus on ‘Social Interactions” </li></ul><ul><ul><li>4Cs: culture, context, content, communication </li></ul></ul><ul><li>Different from qualitative approaches: Focus Groups and Surveys </li></ul><ul><ul><li>Expensive, obtrusive, Say-Do ration different </li></ul></ul><ul><ul><li>Not real time as users participate </li></ul></ul><ul><li>Different from using just tools: Radian6, Scoutlabs: </li></ul><ul><ul><li>Participate and interact with the tribe </li></ul></ul>
  12. 12. Simple approach: Learning about a Tribe or doing a Pivot <ul><li>Select Social Networks or Communities </li></ul><ul><li>Sign up, participate and engage in multiple communities and/or social networks – be prepared for ongoing conversations </li></ul><ul><li>Collect, Cull and Classify discussion treads, blogs, tweets, etc. – all ‘mentions’ of brand, product, usage, descriptions, etc. (might need to export/download info) </li></ul><ul><li>Read posts! </li></ul><ul><li>Record observations and learnings </li></ul><ul><li>Understand potential, establish a benchmark and track behaviors over time </li></ul><ul><li>Test observations via posts or 1 on 1 interviews </li></ul><ul><li>Review the company’s site </li></ul><ul><li>Reposition </li></ul><ul><li>Close Loop and Measure </li></ul>
  13. 13. 1. Select/Identify Social Networks <ul><li>Conduct Google, Bing, etc. Searches </li></ul><ul><li>Use Radian6 or Scoutlabs </li></ul><ul><li>Ask employees, customer, business partners, prospects, etc. </li></ul>
  14. 14. 2. Sign up and participate for Community <ul><li>Be transparent </li></ul><ul><li>Don’t use a factious name, job title or company </li></ul><ul><li>Listen carefully to conversations </li></ul><ul><li>Pay attention to social structure (leaders, followers) </li></ul><ul><li>Pay attention to language </li></ul><ul><li>Pay attention to other sites mentioned, etc. </li></ul><ul><li>Define culture </li></ul><ul><li>Record hot topics, interests </li></ul><ul><li>“ Walk in their shoes…” </li></ul>
  15. 16. 2. Read Posts Bounce Fabric Softener can keep bugs away. Who knew?
  16. 17. Bounce and Bugs/Mosquitos
  17. 18. Search Results and the Long Tail
  18. 19. 4. Collect, Cull and Classify Social Media Reporting with the current generation of Social Media Monitoring tools present several challenges
  19. 20. 5. Record Observations <ul><li>People talk about Bounce being a bug repellent </li></ul><ul><ul><li>Use words like ‘Repel,’ etc. </li></ul></ul><ul><ul><li>Some make lists for different Bounce uses </li></ul></ul><ul><li>What do people not like about most ‘repellents’ </li></ul><ul><ul><li>Stings eyes </li></ul></ul><ul><ul><li>Smells </li></ul></ul><ul><ul><li>Wet/Damp so dirt and sand stick to your body </li></ul></ul><ul><ul><li>Greasy feel </li></ul></ul><ul><ul><li>Rain and sweat can take it off your body </li></ul></ul><ul><ul><li>Greasy </li></ul></ul>“ Bounce: Get them critters to stay away” Crazy idea?
  20. 21. 6. Benchmark and Learn Maybe P&G should market Bounce as Mosquito repellent <ul><li>Top themes and topics on different social networks, blogs, etc. </li></ul><ul><li>Top leaders on different social networks, blogs, etc. </li></ul><ul><li>Review terms/keywords/categories using Google, Bing, Google Trends, Social Search, Twitter Search </li></ul><ul><li>Review Ad Words to determine if words are how people describe products: </li></ul><ul><ul><li>Bounce: Bug killer?, Household cleaner </li></ul></ul>Kills bugs Lasts for hours
  21. 22. 6. Benchmark and Learn Maybe Bounce should market as Mosquito repellent Keywords on Google
  22. 23. 6. Benchmark Social Networks <ul><li>% Relevant Content </li></ul><ul><li>% of Influencers with Relevant Content </li></ul><ul><li>Target Keyword Density </li></ul><ul><li>Channel Churn of Engagers </li></ul><ul><li>Content Measures </li></ul><ul><ul><li>% Classifiable by Topic </li></ul></ul><ul><ul><li>% Classifiable by Sentiment </li></ul></ul><ul><ul><li>% Garbage Classified </li></ul></ul><ul><ul><li>% Duplication </li></ul></ul>Customers Gained Lost Net Churn Trend
  23. 24. 7. One on one Interviews
  24. 25. 8. Company Site Home Page Clever Ideas
  25. 26. 8. Company site Leveraging keywords or “bug repellent”
  26. 27. 9. “To Pivot or not to Pivot” <ul><li>Transfer learnings into products / solutions </li></ul><ul><li>Bounce Sheets: </li></ul><ul><ul><li>Reposition or </li></ul></ul><ul><ul><li>Roll out new product (similar product) </li></ul></ul><ul><ul><li>Leave as is and don’t change anything </li></ul></ul>
  27. 28. 10. Close the Loop and Measure
  28. 29. 10. Close the Loop and Measure <ul><li>Careful measurement of Social Media provides distinct advantages vis-à-vis traditional research: </li></ul><ul><ul><li>Increase N Size (How many verbatims you have) </li></ul></ul><ul><ul><li>Save $ (Low cost to duplicating research) </li></ul></ul><ul><ul><li>Increase Immediacy (Very rapid cycle times) </li></ul></ul><ul><ul><li>Find new people (Non-research agenda) </li></ul></ul><ul><ul><li>Broaden the agenda (You don't drive the questions) </li></ul></ul><ul><ul><li>Standardize the presentation (No more one-off presentations) </li></ul></ul>
  29. 30. 10. Close the Loop and Measure <ul><li>Consider the creation of a Customer Intelligence System (CIS) </li></ul>*Slide Courtesy of Clarabridge
  30. 31. Let’s Recap the Process
  31. 32. Thank you! <ul><li>Gary Angel: </li></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li>Blog: http://semphonic.blogs.com/semangel/ </li></ul></ul><ul><ul><li>@garyangel </li></ul></ul><ul><li>Scott K. Wilder </li></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li>New blog: http://www.wildervoices.com </li></ul></ul><ul><ul><li>@skwilder </li></ul></ul><ul><ul><li>For other presentations: http://www.slideshare.net/skwilder </li></ul></ul>

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