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Keynote at ASAE Technology Conference, December 14, 2010 in Washington DC. "Be Open, Be Transparent, Be Authentic" are the current leadership mantras – but organizations often push back. Traditionally business is conducted on the basis of control and yet the new world order demands openness. In this session, Charlene Li will examine how to tap into the power of the social technology revolution and use social media to be "open" while maintaining control. Ms. Li will share illustrative examples and case studies from a wide range of industries and countries, of how to bring the precision of this new ‘openness" to both inside and outside your organization.As Li explains, openness requires more — not less — rigor and effort than being in control. Hear how to determine your organization’s open strategy, weigh the benefits against the risk, and have a clear understanding of the implications of being open. Walk away with guidelines, policies, and procedures that successful companies have implemented to manage openness and ensure that business objectives are at the center of their openness strategy. By embracing social media, you can transform your organizations to become more effective, decisive, and ultimately more profitable in this new era of openness in the marketplace.Charlene Li is the co-author of the bestseller Groundswell, author of the new book Open Leadership, and Founder of Altimeter Group, a strategy firm that provides clients with a pragmatic approach to using new technologies.
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1 Open Leadership: How Social Technology Can Transform How You Lead Charlene Li Altimeter Group December 14, 2010 Twitter: @charleneli
3 OUT ofCONTROL © 2010 Altimeter Group © 2010 Altimeter Group
© 2010 Altimeter Group © 2010 Altimeter Group
© 2010 Altimeter Group © 2010 Altimeter Group
6 DellOutlet drives sales with Twitter © 2010 Altimeter Group
It’s about RELATIONSHIPS © 2010 Altimeter Group © 2010 Altimeter Group
How to give up control but still be in command © 2010 Altimeter Group © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group © 2010 Altimeter Group
11 Four goals define your Open Strategy Dialog Learn Support Innovate © 2010 Altimeter Group
12 Learn with monitoring tools © 2010 Altimeter Group
13 Start and drive conversations © 2010 Altimeter Group
14 Make support strategic © 2010 Altimeter Group
Drive innovation into the organization © 2010 Altimeter Group © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group © 2010 Altimeter Group
How Best Buy Created a Transformation © 2010 Altimeter Group © 2010 Altimeter Group
© 2010 Altimeter Group © 2010 Altimeter Group
© 2010 Altimeter Group © 2010 Altimeter Group
21 10 elements of openness Information Sharing Decision Making • Explaining • Updating • Conversing • Open Mic • Crowdsourcing • Platforms • Centralized • Democratic • Consensus • Distributed © 2010 Altimeter Group
22 How open are you? How open do you need to be? © 2010 Altimeter Group
23 Skills of successful Open Leaders Lovisa Williams US Dept. of State Ed Terpening Wells Fargo Authentic Transparent Disciplined Resilient Removes barriers Influences © 2010 Altimeter Group
24 Transparency came slowly but surely to Wells Fargo March 2006 January 2009 © 2010 Altimeter Group
25 Discipline led to results at Dept. of State Started with clear social media policy. Reached out to leaders with the greatest need – embassy staff. Jakarta embassy has ~150,000 fans on Facebook. © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group
28 #1 Create a Culture of Sharing
29 Open leaders make Sharing a Habit
30 TurboTax “programmed” sharing Ensures 85% employee participation in community forums
#2 Discipline is Needed to Succeed 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. © 2010 Altimeter Group
32 Conduct a readiness assessment Ideally, you should be at “4.0” for launch. Area of opportunity.
#3 Ask the Right Questions about Value “We tend to overvalue the things we can measure, and undervalue the things we cannot.” - John Hayes, CMO of American Express © 2010 Altimeter Group
The new lifetime value calculation • 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 • Percent that provide support • Frequency and value of the support + Value of support + Value of ideas ____________________ = Customer lifetime value Spreadsheets for 15 year lifetime value calculation available at charleneli.com/resources
#4 Prepare for Failure No relationships are perfect Google’s mantra: “Fail fast, fail smart” © 2010 Altimeter Group
STRATEGY LEADERSHIP PREPAREDNESS © 2010 Altimeter Group © 2010 Altimeter Group
Give Up Control AND STILL BE IN COMMAND © 2010 Altimeter Group © 2010 Altimeter Group
© 2010 Altimeter Group © 2010 Altimeter Group