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Preparing For The Future Of Social Media

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Preparing For The Future Of Social Media

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  1. 1 Preparing For The Future Of Social Media SFAMA February 8, 2012 Charlene Li Founder and Partner

  2. 2 How Time Flies iPhone Debut Jan 2007 Facebook Connect July 2008 Nexus One Android Debut January 2010 Facebook Timeline Sept 2011 Facebook Platform May 2007 iPhone App Store July 2008 iPad Debut April 2010 © 2012 Altimeter Group

  3. 3 Social media is a daily habit for most Frequency of visits to Facebook Visit at least daily Visit less than daily Source: Facebook From S-1 Registration Statement © 2012 Altimeter Group

  4. 4 Boom and bust cycle keeps repeating Number of US venture capital deals 1995Q1-2011Q3 2500 2000 Google IPO Facebook IPO 1500 Netscape IPO 1000 500 0 Source: PricewaterhouseCoopers MoneyTree Report © 2012 Altimeter Group

  5. What the Future Will Bring © 2012 Altimeter Group © 2012 Altimeter Group

  6. Image by Slowtron used with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309 Social Media Will Be Like Air © 2012 Altimeter Group © 2012 Altimeter Group

  7. It’s about RELATIONSHIPS © 2012 Altimeter Group © 2011 Altimeter Group

  8. 8 #1 Consumers will reward transparent companies with their loyalty © 2012 Altimeter Group

  9. 9 © 2012 Altimeter Group

  10. 10 Is your company ready to be authentic and transparent? Opportunity: Build trust with every day transparency © 2012 Altimeter Group

  11. 11 #2 People want to be known 25-55 years old, married, kids, working, graduate degree, travels a lot © 2012 Altimeter Group

  12. 12 Ways you can know me I walk into my local grocery store © 2012 Altimeter Group

  13. 13 The store knows it’s me • Social check-ins (Four Square, Yelp, Facebook Places) • Near Field Communications © 2012 Altimeter Group

  14. 14 I get coupons to use right away © 2012 Altimeter Group

  15. 15 And connect my phone to in-store GPS shopping cart © 2012 Altimeter Group

  16. 16 Mobile is a tool, not a strategy From “Make An App For That: Mobile Strategies For Retailers, Feb 2012 Opportunity: Use data from trusted relationships to build unique experiences © 2012 Altimeter Group

  17. 17 #3 Connected employees will create a culture of sharing Opportunity: Meet the groundswell of customers with your own groundswell of employees © 2012 Altimeter Group

  18. Enterprise social networks use relationships to create a social business Transformation • C-suite led • Predictive Optimization • Department led • Proactive Collaboration • Centrally managed • Reactive Connection • Decentralized • Ad-hoc © 2012 Altimeter Group

  19. 19 Leaderships means having followers “Leadership is a relationship between those who aspire to lead and those who choose to follow.” - From “The Leadership Challenge” © 2012 Altimeter Group

  20. Redefine what it means to be a leader © 2012 Altimeter Group © 2010 Altimeter Group

  21. “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 © 2012 Altimeter Group © 2010 Altimeter Group

  22. Creating Coherent Plans © 2012 Altimeter Group © 2012 Altimeter Group

  23. 23 The Takeaway – it’s time to get serious Strategy Discipline Capabilities © 2012 Altimeter Group

  24. 24 Define Your Strategy With Goals Dialog Learn Support Innovate © 2012 Altimeter Group

  25. 25 Strategy Project And Deliverables 3. 1. 2. Strategy Development Organizational Development Discovery A. Establish Business Objectives and Metrics A. Strategic Vision Statement A. Social Readiness Roadmap B. B. Opportunity Analysis B. Initiative Development Monitoring/Analytics Roadmap C. Customer Segment Analysis C. Strategy Roadmap C. Executive Education © 2012 Altimeter Group

  26. 26 What kind of relationship do you want? Transactional Occasional Impersonal Short-Term Loyal Constant Authentic Long-Term © 2012 Altimeter Group

  27. Be disciplined about addressing your Hierarchy of Needs 27 Holistic, Real-time Predictive Enlightenment Empowerment, Cross-Learning, Measurement Enablement Asset Inventory, Best Practice Sharing, Center of Excellence Formation Dedicated Team, Workflow, Crises Preparedness Safety Objectives, Policies, Education, Access Foundation © 2012 Altimeter Group

  28. Most companies still don’t do this 28 Take reasonable action to fix issue and let customer know action taken Positive Negative Yes Yes No Does customer need/deserve more info? 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 Explain what is being done to correct the issue. Is the problem being fixed? 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. © 2012 Altimeter Group © 2011 Altimeter Group

  29. 29 Creating capabilities is a priority… But most organizations will spend less than $25,000 on social media training © 2012 Altimeter Group

  30. 3 Offer training at all levels of the organization Center of Excellence Executives Business Units Employees © 2012 Altimeter Group © 2011 Altimeter Group

  31. 31 Make sure you use the right metrics The Social Media Measurement Compass © 2012 Altimeter Group

  32. Key capability: The ability to give up the need to be in control © 2012 Altimeter Group © 2011 Altimeter Group

  33. Image by Slowtron used with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309 Social Media Will Be Like Air © 2012 Altimeter Group © 2012 Altimeter Group

  34. THANK YOU Charlene Li charlene@altimetergroup.com charleneli.com Twitter: charleneli For slides, email slides@altimetergroup.com © 2012 Altimeter Group

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