web 2.0 expo speech: open leadership
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Open Leadership: How Social Technology Can Transform The Way You Lead
Charlene LiAltimeter GroupMay 6, 2010
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#openleader
© 2010 Altimeter Group
© 2010 Altimeter Group
More people visit Facebook than Yahoo!
© 2010 Altimeter Group
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It’s about relationships
© 2010 Altimeter Group
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Why is social hard?
Because realrelationships require that you give up control
© 2010 Altimeter Group
The need for open leadership6
When people get what they need from each other
“How open do I need to be?
© 2010 Altimeter Group
Defining Open Leadership7
Having the confidence and humility to give up the need to be in control,while inspiring commitment from people to accomplish goals
How to give up control, and be in command
© 2010 Altimeter Group
Best Buy’s First Social Media Experts8
Steve Bendt & Gary Koelling
© 2010 Altimeter Group
They harnessed Best Buy’s biggest asset
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The Blue Shirts
© 2010 Altimeter Group10
BlueShirtNation.com supported Best Buy’s front line employees
© 2010 Altimeter Group
Steve & Gary had an executive sponsor
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Barry Judge CMO of Best Buy
© 2010 Altimeter Group
They kept telling him one thing…12
“Barry, you gotta get a blog!”
© 2010 Altimeter Group
Barry’s first post13
“I was so relieved when it was over—it was just two sentences to get started.”
© 2010 Altimeter Group
The Premier Black Fiasco14
6.8 million emails sent instead of 1,000 test
© 2010 Altimeter Group
Barry’s response15
“…we screwed up the execution which makes me feel sick about the customer trust that we have impacted.”
© 2010 Altimeter Group
Openness became a strategy16
Open market testing of new logo
© 2010 Altimeter Group
+2,200 Best Buy employees provide support on Twitter
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© 2010 Altimeter Group
Focus on relationships, not technologies
What kind of relationship do you want?
Transactional
OccasionalImpersonalShort-term
PassionateConstantIntimate
Loyal
© 2010 Altimeter Group
Four goals define your open strategy, but always start with learn
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© 2010 Altimeter Group
Go beyond traditional customer data20
Demographic
Geographic
Psychographic
Behavioral
Socialgraphic
© 2010 Altimeter Group
Engagement Pyramid: Focus on Watching and Sharing
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Curating
Producing
Commenting
Sharing
Watching
© 2010 Altimeter Group
Dialog with your community22
© 2010 Altimeter Group
DellOutlet drives sales with Twitter23
© 2010 Altimeter Group
Help your members support each other
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© 2010 Altimeter Group
Social moves into enterprise apps
Salesforce Chatter
LinkedIn in Lotus Notes
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Service Cloud w/social
© 2010 Altimeter Group
Innovate with customer feedback26
© 2010 Altimeter Group
Starbucks involves 50 people around the organization
© 2010 Altimeter Group
What to do first
© 2010 Altimeter Group
#1 Align openness with strategic goals
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Examine your 2011goals
Pick one where open and social can have an impact
© 2010 Altimeter Group
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#2 Understanding the value
Value of +5 million fans?
“We tend to overvalue the things we can measure, and undervalue the things we cannot.”
- John Hayes, CMO of American Express
© 2010 Altimeter Group
+ Value of purchases- Cost of acquisition
____________________
= Customer lifetime value
The new lifetime value calculation
• Percent that refer• Size of their networks• Percent of referred
people who purchase• Value of purchases
• Percent that provide support
• Frequency and value of the support
+ Value of new customers from referrals
+ Value of support+ Value of ideas
+ Value of insights
Learn more: Webinar this Friday 5/7 bit.ly/openleaderweb2
© 2010 Altimeter Group
#3 Understand how open you need to be
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© 2010 Altimeter Group
Determine how open you need to be to meet your goals
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Platform
Crowdsourcing
Open Mic
Conversing
Updating
Explaining
Today
© 2010 Altimeter Group
#4 Find and develop you open leaders
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Pessimist Optimist
Collaborative
Independent
© 2010 Altimeter Group
#5 Prepare your organization35
Ideally, you should be at
“4.0” for launch.
Area of opportunity.
© 2010 Altimeter Group
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Social media triage
Can you add value?
Evaluate the
purpose
Respond in kind & share
Thank the person
Unhappy Customer?
DedicatedComplainer
?
Comedian Want-to-
Be?
NegativePositive
Yes No
Do you want to
respond?
No Response
No
Yes
Take reasonable action to fix issue and let customer know action taken
Are the facts
correct?
Gently correct the facts
No
No
No
Yes
Are the facts
correct?
Does customer need/deserve
more info?
Yes
Explain what is being done to
correct the issue.
Yes
Is the problem
being fixed?
Yes
Let post stand and monitor.
No
Yes
NoYes
Yes
Assess the message
© 2010 Altimeter Group
Create a culture of sharing
© 2010 Altimeter Group
#^ Embrace failure38
© 2010 Altimeter Group
Buyer blog hit the right note39
© 2010 Altimeter Group
Manage risk with Sandbox Covenants
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© 2010 Altimeter Group
What the future will bring41
Social networks will be like air
© 2010 Altimeter Group
Focus on relationships.
Align your social strategy with strategic goals.
Support open leaders in your organization.
Be prepared for failure – you’ll encounter many.
Summary42
© 2010 Altimeter Group
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Thank you
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Charlene Licharlene@altimetergroup.com
charleneli.com/blog
Twitter: charleneli
For slides, send an email to
slides@altimetergroup.com
Learn more and buy the book at
open-leadership.com
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