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Developing A Social Strategy Webinar

Altimeter Group Webinar "Developing A Social Strategy", February 24, 2010 by Charlene Li and Jeremiah Owyang.

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Developing A Social Strategy Webinar

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  1. 1 Developing a Social Strategy Charlene Li Altimeter Group February 24, 2010 Jeremiah Owyang Altimeter Group #socialstrategy

  2. 2 A 3-part series  Research is the foundation of any strategy.  Our first webinar (Part 1) of this series focused on how to use socialgraphics to create your own Engagement Pyramid.  This webinar (Part 2) will focus on developing a social strategy based on business goals.  The next webinar (Part 3) will explain how to get your company ready to execute a social strategy. © 2010 Altimeter Group

  3. 3 It’s not about the technologies © 2010 Altimeter Group

  4. 4 Focus on relationships, not technologies Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal © 2010 Altimeter Group

  5. Social Strategy © 2010 Altimeter Group

  6. 6 Four goals define your strategy, but always start with learn Dialog Learn Support Innovate © 2010 Altimeter Group

  7. 7 Learn with monitoring tools © 2010 Altimeter Group

  8. 8 Paid services provide monitoring Other providers Buzzmetrics Cymfony Dow Jones Scout Labs Techrigy/Alterian Visible Technologies From Radian 6 © 2010 Altimeter Group

  9. 9 Ethnographic research using Delicious © 2010 Altimeter Group

  10. 10 Dialog with your community Dialog Learn Support Innovate © 2010 Altimeter Group

  11. 11 Engagement Pyramid: Focus on Watching and Sharing Curating Producing Commenting Sharing Watching © 2010 Altimeter Group

  12. 12 At Southwest, a planner engages This post received 98 comments over 10 days. In the future, everyone is a marketer. © 2010 Altimeter Group

  13. 13 DellOutlet drives sales with Twitter © 2010 Altimeter Group

  14. 14 Kohl’s engages directly with customers © 2010 Altimeter Group

  15. 15 Help your members support each other Dialog Learn Support Innovate © 2010 Altimeter Group

  16. 16 Wells Fargo Supports Customers Ask Wells Fargo supports customers in real time –while keeping true to their bankers hours tradition. Rather than hide behind a logo, they use real human voices and names, increasing trust © 2010 Altimeter Group

  17. 17 Premier Farnell supports engineers with community, and employees with “OurTube” © 2010 Altimeter Group

  18. 18 Starwood guests help each other FlyerTalk has over 20,000 threads on the site, with up to tens of thousands of views each. Starwood guests are visiting the forum and finding answers, while Starwood collects market intelligence. © 2010 Altimeter Group

  19. 19 Microsoft’s MVP Experts Support –and Advocate Microsoft’s MVP programs nominates helpful customers and professionals once a year. This unpaid army supports other customers – and becomes community advocates * Disclosure: Microsoft is an Altimeter Client, learn more about our disclosure policy at http://www.altimetergroup.com/disclosure © 2010 Altimeter Group

  20. 20 Innovate with customer feedback Dialog Learn Support Innovate © 2010 Altimeter Group

  21. 21 Gauging interest for Bacon Salt Makers of BaconSalt reached out to fans of bacon on MySpace to gauge interest in their new product. Baconaisse and bacon-flavored sunflower seeds were later created after listening to customer requests. © 2010 Altimeter Group

  22. 22 Fiat gathers product and market intelligence Contributors submit ideas, and can include pictures and embed videos. Fiat gets valuable ideas for features and design, and marketing and advertising. © 2010 Altimeter Group

  23. 23 P&G used ratings & reviews to improve © 2010 Altimeter Group

  24. 24 Dell innovates across the organization Use new listening platforms, identify in-house and external experts, and know and influence key people © 2010 Altimeter Group

  25. What to do first © 2010 Altimeter Group

  26. 26 #1 Start small, start now At the least, listen to learn Pick a goal © 2010 Altimeter Group

  27. 27 Where to start? Align social with strategic goals Examine your 2010 goals Pick one where social can have an impact © 2010 Altimeter Group

  28. 28 #2 Understand the value What’s the value of a fan or follower? 16,965 followers +4 million fans © 2010 Altimeter Group

  29. The new lifetime value calculation, based on your goals • Percent that refer • Size of their networks • Percent of referred people who purchase • Value of purchases + Value of purchases - Cost of acquisition + Value of new customers from referrals + Value of insights + Value of support + Value of ideas • Percent that provide support • Frequency and value of the support = Customer lifetime value © 2010 Altimeter Group

  30. 30 Make decisions with metrics Find more fans with large networks Refers Large network Doesn’t refer Fans Refers Small network Doesn’t refer Encourage fans to make more referrals © 2010 Altimeter Group

  31. #3 Prepare for new workflows Social technologies will disrupt traditional organization structures © 2010 Altimeter Group

  32. 32 Organize for different types of openness Coordinated - Sets rules, best practices, policies - Each department executes - Takes time, not cutting edge - Eg. HP, Red Cross Organic - Natural growth requiring few resources - Deep adoption - Non-consistent - Eg. Humana, Microsoft Centralized - One department controls all efforts - Experimental, fast moving - Not spread or used broadly - Eg. Starbucks, Ford, Dell © 2010 Altimeter Group

  33. 33 #4 Practice Open Leadership When people get what they need from each other Have the confidence to let go and still inspire results © 2010 Altimeter Group

  34. 34 Open Leadership Having the confidence and humility to give up the need to be in control, while inspiring commit- ment from people to accomplish goals. © 2010 Altimeter Group

  35. 35 10 elements of openness Information Sharing • Explaining • Updating • Conversing • Open Mic • Crowdsourcing • Platforms Decision Making • Centralized • Democratic • Self-managing • Distributed © 2010 Altimeter Group

  36. 36 Social + open = competitive advantage +2,200 Best Buy employees answer questions sent to @twelpforce © 2010 Altimeter Group

  37. 37 Plan to fail well – Wal-Mart case study © 2010 Altimeter Group

  38. 38 Buyer blog hit the right note © 2010 Altimeter Group

  39. 39 Build trust and manage risk The Sandbox Covenant © 2010 Altimeter Group

  40. 40 Summary  Like any relationship, the best ones are best on built on listening and understanding.  Pick one goal and master that, then layer on more.  When choosing a social strategy goal, align it with your business goals and those of your customers.  Benchmark your progress based upon your business goals, not “engagement” data.  Change your mindset: letting go will yield more results. © 2010 Altimeter Group

  41. 41 41 Thank you Charlene Li Jeremiah Owyang charlene@altimetergroup.com jeremiah@altimetergroup.com blog.altimetergroup.com web-strategist.com/blog Twitter: charleneli Twitter: jowyang © 2010 Altimeter Group

  42. 42 About Us Altimeter Group is a strategy consulting firm that provides companies with a pragmatic approach to disruptive technologies. We have four areas of focus: Leadership and Management, Customer Strategy, Enterprise Strategy, and Innovation and Design. Visit us at http://www.altimetergroup.com or contact info@altimetergroup.com. © 2010 Altimeter Group

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