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Milan World Business Forum speech by Charlene Li

Presentation by Charlene Li at the HSM World Business Forum, November 2011

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Milan World Business Forum speech by Charlene Li

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  1. 1 Creating Winning Social Media Strategies Charlene Li Altimeter Group Twitter: @charleneli Email: charlene@altimetergroup.com

  2. 2 © 2011 Altimeter Group

  3. OUT of CONTROL? © 2011 Altimeter Group © 2011 Altimeter Group

  4. 4 © 2011 Altimeter Group © 2011 Altimeter Group

  5. 5 © 2011 Altimeter Group © 2011 Altimeter Group

  6. 6 How to give up control but still be in command © 2011 Altimeter Group © 2011 Altimeter Group

  7. It’s about RELATIONSHIPS © 2011 Altimeter Group © 2011 Altimeter Group

  8. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  9. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  10. 10 Four goals define your Open Strategy Dialog Learn Support Innovate © 2011 Altimeter Group

  11. 11 Track brand mentions with basic tools What would happen if every employee could learn from customers? © 2011 Altimeter Group

  12. 12 Your customers want to be “known” I walk into my local grocery store © 2011 Altimeter Group

  13. 13 The store knows it’s me • Social check-ins (Four Square, Yelp, Facebook Places) • Near Field Communications © 2011 Altimeter Group

  14. 14 I get coupons to use right away © 2011 Altimeter Group

  15. 15 And connect my phone to in-store GPS shopping cart © 2011 Altimeter Group

  16. 16 Engagement Pyramid Curating Producing Commenting Sharing Watching © 2011 Altimeter Group

  17. 17 Engagement Pyramid Data United States Italy Spain UK Curating <1% <1% <1% <1% Producing 38.7% 30.3% 52.7% 26.1% Commenting 37.4% 45.1% 54.0% 34.4% Sharing 63.6% 58.6% 79.3% 63.0% Watching 77.3% 82.2% 89.3% 78.1% Source: Global Wave Index Wave 2, Trendstream.net, January 2010 © 2011 Altimeter Group

  18. 18 Define Your Strategy With Goals Dialog Learn Support Innovate © 2011 Altimeter Group

  19. 19 The New Normal  Conversations, not messages  Human, not corporate  Continuous, not episodic © 2011 Altimeter Group

  20. 20 Boeing uses blogs to engage © 2011 Altimeter Group

  21. 21 Kohl’s engages directly with customers © 2011 Altimeter Group

  22. 22 Vodafone Italy uses Twitter to proactively communicate with customers Vodafone humanizes their Twitter account by including pictures of their support team and identifying different respondents by an “^” and the team member’s initials. © 2011 Altimeter Group

  23. 23 Define Your Strategy With Goals Dialog Learn Support Innovate © 2011 Altimeter Group

  24. 24 How DellOutlet drives sales with Support © 2011 Altimeter Group

  25. 25 Solarwinds’ community is strategic © 2011 Altimeter Group

  26. 26 Premier Farnell supports engineers with community, and employees with “OurTube” © 2011 Altimeter Group

  27. 27 Define Your Strategy With Goals Dialog Learn Support Innovate © 2011 Altimeter Group

  28. 28 P&G uses reviews to improve products © 2011 Altimeter Group

  29. 29 Fiat Mio, the world’s first crowdsourced car © 2011 Altimeter Group

  30. Starbucks involves 50 people around the organization in innovation Over 100 ideas have been implemented © 2011 Altimeter Group

  31. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  32. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  33. 33 Leaderships means having followers “Leadership is a relationship between those who aspire to lead and those who choose to follow.” - From “The Leadership Challenge” © 2011 Altimeter Group

  34. 34 Open Leadership Having the confidence and humility to give up the need to be in control, while inspiring commitment from people to accomplish goals © 2011 Altimeter Group © 2011 Altimeter Group

  35. 35 Traits of Open Leaders Authenticity Transparency © 2011 Altimeter Group

  36. 36 10 elements of openness Information Sharing • Explaining • Updating • Conversing • Open Mic • Crowdsourcing • Platforms Decision Making • Centralized • Democratic • Consensus • Distributed © 2011 Altimeter Group

  37. 37 Determine how open you need to be with information to meet your goals Openness audit available at http://bit.ly/opennessaudit © 2011 Altimeter Group

  38. 38 How Best Buy created Open Leaders © 2011 Altimeter Group © 2011 Altimeter Group

  39. 39 Barry’s first post © 2011 Altimeter Group

  40. 40 Retailer Best Buy has 2,500 employees providing support via Twitter © 2011 Altimeter Group

  41. Developing Open Leaders © 2011 Altimeter Group © 2010 Altimeter Group

  42. “You can imagine the Chatterati creating as much value as an SVP in the organization by sharing their institutional knowledge and expertise - and we should look at compensation structures with that in mind.” - Marc Benioff, CEO of Salesforce.com © 2011 Altimeter Group © 2010 Altimeter Group

  43. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  44. STRATEGY ORGANIZATION PREPAREDNESS © 2011 Altimeter Group © 2011 Altimeter Group

  45. 45 #1 Align social with key Strategic Goals Examine your 2011 & 2012 goals Pick ones where social will have an impact Start small, but now © 2011 Altimeter Group

  46. 46 #2 Create a Culture of Sharing © 2011 Altimeter Group

  47. 47 Blogs establish thought leadership CEO Richard Edelman has been blogging consistently since September 2004. © 2011 Altimeter Group

  48. #3 Discipline is Needed to Succeed 48 Take reasonable action to fix issue and let customer know action taken Positive Negative Yes Yes Does customer need/deserve more info? No Assess the message Do you want to respond? Evaluate the purpose Yes Yes No No Unhappy Customer? Are the facts correct? Gently correct the facts Response No No Yes Yes No Can you add value? Are the facts correct? Dedicated Complainer? No Yes Is the problem being fixed? Explain what is being done to correct the issue. Yes Respond in kind & share Thank the person Comedian Want-to-Be? No Yes Adapted from US Air Force Comment Policy Let post stand and monitor. © 2011 Altimeter Group © 2011 Altimeter Group

  49. 49 Climb the Social Business Hierarchy of Needs © 2011 Altimeter Group

  50. 50 Five ways companies organize around social media © 2011 Altimeter Group

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