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Tapping The Power of the Groundswell

How to think about customer engagementGoal-oriented strategies for social technologiesWhat the future holdsRecommendations and next steps

charleneli
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Tapping The Power of the Groundswell

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  1. Tapping The Power Of The Groundswell Charlene Li Altimeter Group June 5, 2009 If you would like a copy of the slides, please leave a business card with me.

  2. Welcome to the Groundswell Where social technologies enable people to get what they need from each other 2 2

  3. Coca-Cola spreads conversations through its fans 3

  4. Agenda • How to think about customer engagement • Goal-oriented strategies for social technologies • What the future holds • Recommendations and next steps

  5. What marketing often looks like today 5 5

  6. Basic online activity is just a start Percent of Internet users who report ever doing this activity Source: Pew Internet & American Life Project Tracking surveys (August 2006 to May 2008) 6

  7. The Engagement Pyramid • Edit a wiki – <1%* • Moderate a forum – <1% • Write in a blog – 21% • Upload a video – 18% • Write in a discussion forum – 47%* • Rate a product or service – 32%** • Comment on a blog post – 22%** • Share online video – 37% • Update profile – 35% • Upload photos – 23% • Watch online video – 59% • Read blogs – 48% • Download podcasts – 23% Source: Universal McCann Social Media Tracker Wave 3, March 2008 *Source: Wiki data from Wetpaint, forum data from Lithium Technologies **Source: Pew Internet & American Life Project Tracking surveys 7

  8. How engaged are YOU? 8

  9. Agenda • How to think about customer engagement • Goal-oriented strategies for social technologies • What the future holds • Recommendations and next steps

  10. Focus on relationships, not technologies What kind of relationship do you want? Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal 10

  11. Four strategies, start with Learn 11

  12. Learn with monitoring tools 12

  13. No size fits all for monitoring • River of “noise” versus insight • Need for scenario-based monitoring ▫ Response to detractors ▫ Analytics for planning ▫ Listen by audience/site ▫ Sentiment tracking/audits

  14. How Oracle encouraged feedback 14

  15. 15

  16. How to learn better • Determine where fast, flexible learning is most needed to support business goals • Figure out who you need to listen to, and where they are • Find out who is best at listening to that audience ▫ Hint: It’s probably not Market Research 16

  17. B2B Twitter encourages engagement 17

  18. At Southwest, a planner talks Post has received 98 comments over 10 days In the future, everyone is a marketer 18

  19. Cable problems? Who do you call? 19

  20. BlueShirtNation.com supports Best Buy’s front line employees 20

  21. Salesforce innovates with customers 21

  22. Agenda • How to think about customer engagement • Goal-oriented strategies for social technologies • What the future holds • Recommendations and next steps

  23. Social networks will be like air 23

  24. Three things are needed to make social networks like air 1. Identity – who you are 2. Contacts - who you know 3. Activities – what you do And it’s still very early, so patience is needed

  25. My identity, in context Author, researcher, strategist Chauffeur, cook, play date organizer 25

  26. Social aggregators can map your relationships Map explicit relationships Identify “Influencers” who are connected AND share Vendors: - 33Across - Lotame - Rapleaf Source: 33Across 26

  27. Implicit social data fills in the relationship gaps 27

  28. Sharing activities to networks Publish reviews from CitySearch to Facebook Bring friends to CitySearch Both CitySearch and Facebook get behavior and sharing data 28

  29. 29 Aggregators can build rich profiles What sites I visit Who I email the most Who I meet with What I read and share Who I call What I buy Who I know, what I did 29

  30. 30

  31. Evolution of profiles 31

  32. “Birds of a feather shop together” 1 2 “Lisa” buys on NineWest.com Media6 maps “network neighbors” based on visits to profile sites via browser cookies (no PII involved) 3 NineWest ads are shown to Lisa’s closest friends, without identifying or involving Lisa 32

  33. The rise of the personal CPM Target & price on: • Influence • Number of friends • Influence among friends • Number of influential friends 33

  34. Agenda • How to think about customer engagement • Goal-oriented strategies for social technologies • What the future holds • Recommendations and next steps

  35. 35

  36. 36 #1 Get the right people on the bus 36

  37. Find your revolutionaries Lionel Menchaca Dell Paula Drum H&R Block Ed Terpening Wells Fargo 37

  38. Have a plan to deal with different social media mindsets Dependent Independent Confident Insecure Find the “moments of faith” and “moments of crisis” for each mindset 38

  39. #2 Start small, but start now Audience Goal Revolutionary Tactics 39

  40. 40 #3 Evaluate where social makes sense  Identify where social network data and content can/should be integrated in the business  Leverage existing identity and social graphs where your audience already is, e.g. Facebook Connect, Google Connect, LinkedIn  Get your privacy and permission policies and processes aligned with an open strategy  Find your trust agents and partners ◦ “In Google I trust”, or someone else?

  41. Get your backend data in order Have a single identity for all customer records Understand new data standards of the open social Web Integrate mobile 41

  42. #4 Prepare for a new organization New forms of leadership will be needed 42 42

  43. Social transforms traditional orgs Task Strategy Changes • Monitor conversations • All employees listen & learn Market research Learn • Every employee is a marketer • Bridge the consideration gap Marketing/Sales Dialog • Proactively seek out problems • Enable customers to help Customer support Help • Seek ideas from customers • Broaden employees involved Product development Innovate 43

  44. #5 Measure the right things Your goals determine your metrics Use the same metrics as your marketing goals 44

  45. Example “micro” metrics Goal Metric Value Learn # of customer feedback Impact of faster, better insights Dialog # of people reached # of interactions # of issues addressed # of implemented ideas Awareness Faster, more sales Customer satisfaction Faster, better development Help Innovate 45

  46. Higher order metrics to consider Net Promoter Score How likely are you to recommend this to someone you know? Lifetime Value Lifetime revenue Cost of acquisition Cost of retention Customer referral value (CRV) 46

  47. #6) Embrace the loss of control Photo: Kantor, http://www.flickr.com/photos/kantor 47 47

  48. An essential tool to have 48

  49. Thank You Charlene Li Altimeter Group charlene@altimetergroup.com blog.altimetergroup.com Twitter: @charleneli If you would like a copy of the slides, please leave a business card with me. 49 Copyright © 2009 Altimeter Group

  50. Driving sales with Twitter 50

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