The Role Of Social Media In The Organization
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This document discusses the impact of social media in organizations and provides guidance on developing an open leadership strategy. It recommends goals that define an open strategy, understanding the benefits of openness using metrics, building trust and managing risk, orchestrating openness through new workflows, finding open leaders, and planning for failures. The key theme is that social media will become as important as air in how organizations engage with customers and stakeholders.
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The Role Of Social Media In The Organization
- 1. The Impact Of Social Media In Your Organization Charlene Li Altimeter Group December 3, 2009 For slides, send an email toinfo@altimetergroup.com
- 2. Meet Dave Carroll Source: davecarrollmusic.com
- 4. Success in the groundswell requires Open Leadership 4 Have the confidence to let go and still inspire commitment When people get what they need from each other
- 5. Open LeadershipHaving the confidence and humility to give up the need to be in control,while inspiring commitment from people to accomplish goals. Photo: Kantor, http://www.flickr.com/photos/kantor
- 7. A culture of sharing 7
- 8. 10 Elements of Openness 8
- 9. Explaining strategic decisions 9 Open book management Managing leaks
- 10. Updating with every day stuff 10
- 11. Conversing: Vodafone on Facebook 11
- 12. Open Mic: When people contribute 12
- 13. Crowdsourcing new Walkers flavour 13
- 14. Platform extends Guardian’s data 14 Database of nuclear arms’ location
- 15. Decision-making models 15 Centralized Democratic Distributed Consensus
- 16. Theme Social will be like air
- 17. Facebook Connect extends 17 See what friends read/comment on
- 18. Your site as you know it 18
- 19. Your site with Google Sidewiki 19
- 20. Reviews from people I know Note: This is a mock-up, not an actual product Source: Razorfish
- 21. New ways of targeting 21 Demographic Geographic Psychographic Behavioral Socialgraphic
- 23. #1 Goals define your open strategy
- 25. Plan dialog with the Engagement Pyramid Curators Producers
- 27. Starbucks innovates across the organization
- 28. #2 Understand the benefits of openness 28 “We tend to overvalue the things we can measure, and undervalue the things we cannot.” - John Hayes, CMO of American Express
- 29. Fans have value only if they do something Buy more Coke Tell others how much they love Coke 4 million fans 29
- 30. Use metrics to manage openness Net Promoter Score How likely are you to recommend this to someone you know? Lifetime Value Lifetime revenue Cost of acquisition Cost of retention Customer referral value (CRV)
- 31. Making decisions with metrics 31 Find more fans with large networks Encourage fans to make more referrals
- 32. Engagement scores of 100 brands +18% revenue +15% gross margin growth +5% revenue +3% gross margin growth +10% revenue +1% gross margin growth -6% revenue -11% gross margin growth 32 Source: EngagementDB.com
- 33. #3 Build trust and manage risk The Sandbox Covenant
- 34. #4 Orchestrate openness 34
- 35. Create new workflows i.e. Customer service monitors and responds to tweets directly
- 36. Organizational models for openness 36
- 37. #5 Find and nurture Open Leaders Collaborative Independent Pessimist Optimist
- 38. #6 Plan to fail well 38 Identify the top 5-10 worst case scenarios. Encourage risk taking and forgive failures.
- 39. New rules of open leadership 39
- 40. Thank You Charlene LiAltimeter Group charlene@altimetergroup.com blog.altimetergroup.com Twitter: @charleneli For slides, send an email to info@altimetergroup.com 40 Copyright © 2009 Altimeter Group
Editor's Notes
- The adoption of social media by customers and employees is pushing companies to re-examine how they engage with these audiences -- and in particular, to decide how open and transparent they can and should be. This is causing a rethink as to how to organise, manage and lead in this new era. Charlene will share insights into the impact of this new social environment, how its tranforming the way we work and how you can prepare for future changes. Walkers timingBetter Starbucks exampleUK Sidewiki exampleFacebook connect examplePicnikobama photo
- He’s a musician, Canadian from Halifax, and generally, a pretty reasonable and nice guy. After a year, he was fed up. So what does a rational musician do? Write a song about it. And make a video of it.
- http://www.youtube.com/watch?v=5YGc4zOqozoMusician Dave Carroll from Halifax had his guitars damaged on a flight from Halifax to Chicago.United lost control of this situation.
- http://flickr.com/photos/kantor/2279534438/
- I believe that social networks will be like air. I’m not talking about social networking SITES like Facebook or MySpace. I’m talking about the relationships that each one of us has to the people who are important in our lives. I imagine a future where those connections will be anywhere and everywhere when and where you need them. And that they will be essential to our lives, like air. And without it in sufficient supply, we will feel not quite whole. We will look back in 5 years and think, wasn’t it quaint that we had to GO someplace to be social. So I believe that social networks will be like air – everywhere, and essential to your life.
- Starbucks has a site where people can make suggestions on how they should improve. The key difference is that the suggestions are public, and people can vote for their favorite suggestions. Here’s an example of automatic ordering. Note that there is a status update here “Under Review”.