Groundwell: Winning in a World Transformed by Social Technologies

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A groundswell is rising among your customers. Are you ready?groundswellRight now, your customers are writing about your products on blogs and recutting your commercials on YouTube. They’re defining you on Wikipedia and ganging up on you in social networking sites like Facebook. These are all elements of a social phenomenon — the groundswell — that has created a permanent, long-lasting shift in the way the world works. Most companies see it as a threat.You can see it as an opportunity.In Groundswell, two of Forrester Research's top analysts show you how to turn the force of customers connecting to your own advantage...To know more click here: http://www.forrester.com/Groundswell/index.html

Transcript of Groundwell: Winning in a World Transformed by Social Technologies

1Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Creating a Coherent Social Strategy for Business

Charlene Li & Josh BernoffCo-authors, GroundswellVPs, Forrester Research

groundswell.forrester.com

2Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Businesses expect to participate

% of companies adopting Web 2.0 tools in 2008

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Web 2.0 approach-avoidance syndrome

• Symptoms

» Obsessive interest in the blogosphere, Facebook, YouTube, Twitter, FriendFeed . . .

» Excessive salivation upon hearing of successful corporate applications

» Checking TechCrunch and Techmeme hourly

» Increasing nervousness answering bosses’ and colleagues’ questions about “Web 2.0 strategy”

» Asking your teens “What’s up with this MySpace thing?”

– And taking careful notes on the answer

4Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Definition

► Groundswell

A social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations

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Where are you on this scale?

Corporatist

• Online activitiesmust deliverbusiness benefits

Purist

• People are themost powerfulforce on theNet

Pragmatist

• People are in charge, butcorporationscan benefit

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Theme

Objectives are the key to successful social strategy

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The four-step approach to the groundswell

POST

People Assess your customers’ social activities

Objectives Decide what you want to accomplish

Strategy Plan for how relationships with customers will change

Technology Decide which social technologies to use

8Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Creators

Critics

Collectors

Joiners

Spectators

Inactives

Publish a blogPublish your own Web pagesUpload video you created Upload audio/music you createdWrite articles or stories and post them

Post ratings/reviews of products/servicesComment on someone else’s blogContribute to online forumsContribute to/edit articles in a wiki

Use RSS feedsAdd “tags” to Web pages or photos“Vote” for Web sites online

Maintain profile on a social networking siteVisit social networking sites

Read blogsWatch video from other usersListen to podcastsRead online forumsRead customer ratings/reviews

None of the above

The Social Technographics Ladder

Groups include people participating in at least one of the activities monthly.

18%

25%

12%

25%

48%

44%Base: US online adultsSource: Forrester Q2 2007 Social Technographics Survey

Profile yourcustomers at

groundswell.forrester.com

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Development

Support

Sales

Marketing

Research

Groundswell objectivesRoles

Listening

Talking

Energizing

Supporting

Embracing

Key roles and their groundswell objectives

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Listening to dog owners (Del Monte)

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A conversation with customers

Del Monte: What does your dog eat for breakfast?

George: . . . she would definitely want bacon and eggs and she would want ketchup on her eggs. She loves ketchup!!!

Del Monte: Would you buy more treats if they had vitamins and minerals as ingredients?”

George: I would buy healthier treats over ones that didn’t have vitamins and minerals. . . . I try to look for amino acids and omega 3 and fish oils.

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The result: a successful product launch . . .

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Let’s talk about tampons

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P&G talks with young girls

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Brides.com energizes brides

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The widget now appears on my page

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Supporting front line employees at Best Buy

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Starbucks solicits ideas

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And then posts on a “blog” to close the loop

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Crédit Mutuel’s “suggestion box”

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Value

Advertising visibility $7K

Press stories $240K

Blog word of mouth $37K

Support savings $69K

Total value $353K

ROI of executive blog (year one)

Cost

Planning and training $35K

Platform and IT $30K

Brand monitoring service $50K

Content production and review

$170K

Total costs $285K

22Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Keys to success for pragmatists

• Start with your customers

• Choose an objective you can measure

• Line up executive backing

• Romance the naysayers

• Start small, think big

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Summary

• Pragmatists bring companies and the groundswell together

• Objectives are the key to successful social strategy

• Use POST to frame your strategy

• Line up backers, and think big

24Entire contents © 2008  Forrester Research, Inc. All rights reserved.

Charlene Li Josh Bernoff

+1 650.581.3833 +1 617.613.5789

cli@forrester.com jbernoff@forrester.com

Thank you

groundswell.forrester.com