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Online Information Conference presentation by Charlene Li, December 3, 2009 in London, UK
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The Impact Of Social Media In Your Organization
Charlene LiAltimeter GroupDecember 3, 2009
For slides, send an email [email protected]
Meet Dave Carroll
Source: davecarrollmusic.com
Success in the groundswell requires Open Leadership
4
When people get what they
need from each other
Have the confidence to let go and still inspire
commitment
Open Leadership
Having 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
It’s about relationships
7A culture of sharing
10 Elements of Openness
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• Explaining• Updating• Conversing• Open Mic• Crowdsourcing• Platforms
Information Sharing
• Centralized• Democratic• Self-managing• Distributed
Decision Making
Explaining strategic decisions
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Open book management
Managing leaks
Updating with every day stuff
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Conversing: Vodafone on Facebook
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Open Mic: When people contribute
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Crowdsourcing new Walkers flavour
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Platform extends Guardian’s data
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Database of nuclear arms’ location
Decision-making models
15
Centralized Democratic
Consensus Distributed
Theme
Social will be like air
Facebook Connect extends
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See what friends
read/comment on
Your site as you know it
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Your site with Google Sidewiki
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Reviews from people I know
Source: RazorfishNote: This is a mock-up, not an actual product
New ways of targeting
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Demographic
Geographic
Psychographic
Behavioral
Socialgraphic
Getting Started
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#1 Goals define your open strategy
Learn
Dialog
Support
Innovate
Learning humanizing customers
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Commenters
Sharers
Watchers
Plan dialog with the Engagement Pyramid
Producers
Curators
Ritz-Carlton exemplifies service
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Starbucks innovates across the organization
#2 Understand the benefits of openness
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“We tend to overvalue the things we can measure, and undervalue the things we cannot.”
- John Hayes, CMO of American Express
Fans have value only if they do something
294 million fans
Buy more CokeTell others how much they
love Coke
Use metrics to manage openness
How likely are you to recommend this to someone you know?
Net Promoter Score
Lifetime revenueCost of acquisitionCost of retentionCustomer referral value (CRV)
Lifetime Value
Making decisions with metrics
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Fans
Large network
Refers
Doesn’t refer
Small network
Refers
Doesn’t refer
Find more fans with large networks
Encourage fans to make more referrals
Engagement scores of 100 brands
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+18% revenue+15% gross margin
growth
-6% revenue-11% gross margin
growth
+10% revenue+1% gross margin
growth
+5% revenue+3% gross margin
growth
Source: EngagementDB.com
The Sandbox Covenant
#3 Build trust and manage risk
#4 Orchestrate openness
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Workflow
Stakeholders
Org
structure
Roles Training Measurement
Create new workflows
i.e. Customer service monitors and responds to tweets directly
Organizational models for openness
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Distributed- Organic growth- Authentic- Experimental- Not coordinated- Eg. Sun
Centralized
- One department controls all efforts- Consistent- May not be as authentic- Eg. Ford
Coordinated
- Sets rules, best practices, policies- Spreads widely around the org- Takes time- Eg. HP
#5 Find and nurture Open Leaders
Cautious Tester
Realist Optimist
Fearful Skeptic
Transparent Evangelist
Pessimist Optimist
Collaborative
Independent
#6 Plan to fail well
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Identify the top 5-10 worst case scenarios.
Encourage risk taking and forgive failures.
New rules of open leadership
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Respect that your customers and employees have power
Embody sharing to build trust
Nurture curiosity and humility
Hold openness accountable
Forgive failure
Thank You
Charlene LiAltimeter Group
Twitter: @charleneli
For slides, send an email [email protected]
Copyright © 2009 Altimeter Group40