the role of social media in the organization
DESCRIPTION
Online Information Conference presentation by Charlene Li, December 3, 2009 in London, UKTRANSCRIPT
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The Impact Of Social Media In Your Organization
Charlene LiAltimeter GroupDecember 3, 2009
For slides, send an email [email protected]
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Meet Dave Carroll
Source: davecarrollmusic.com
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Success in the groundswell requires Open Leadership
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When people get what they
need from each other
Have the confidence to let go and still inspire
commitment
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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
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It’s about relationships
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7A culture of sharing
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10 Elements of Openness
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• Explaining• Updating• Conversing• Open Mic• Crowdsourcing• Platforms
Information Sharing
• Centralized• Democratic• Self-managing• Distributed
Decision Making
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Explaining strategic decisions
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Open book management
Managing leaks
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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
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Decision-making models
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Centralized Democratic
Consensus Distributed
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Theme
Social will be like air
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Facebook Connect extends
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See what friends
read/comment on
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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
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New ways of targeting
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Demographic
Geographic
Psychographic
Behavioral
Socialgraphic
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Getting Started
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#1 Goals define your open strategy
Learn
Dialog
Support
Innovate
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Learning humanizing customers
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Commenters
Sharers
Watchers
Plan dialog with the Engagement Pyramid
Producers
Curators
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Ritz-Carlton exemplifies service
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Starbucks innovates across the organization
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#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
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Fans have value only if they do something
294 million fans
Buy more CokeTell others how much they
love Coke
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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
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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
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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
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The Sandbox Covenant
#3 Build trust and manage risk
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#4 Orchestrate openness
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Workflow
Stakeholders
Org
structure
Roles Training Measurement
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Create new workflows
i.e. Customer service monitors and responds to tweets directly
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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
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#5 Find and nurture Open Leaders
Cautious Tester
Realist Optimist
Fearful Skeptic
Transparent Evangelist
Pessimist Optimist
Collaborative
Independent
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#6 Plan to fail well
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Identify the top 5-10 worst case scenarios.
Encourage risk taking and forgive failures.
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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
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Thank You
Charlene LiAltimeter Group
Twitter: @charleneli
For slides, send an email [email protected]
Copyright © 2009 Altimeter Group40