Atlanta Social Media Club presentation on "Open Leadership"
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Transcript of Atlanta Social Media Club presentation on "Open Leadership"
Open Leadership: How Social Technology Can Transform How You Lead
Charlene LiAltimeter GroupAugust 25, 2010
1
Twitter: @charleneli#ATLCharleneLi
© 2010 Altimeter Group
© 2010 Altimeter Group
3
It’s about relationships
© 2010 Altimeter Group
Open Leadership4
Having the confidence and humility to give up the need to be in control,while inspiring commitment from people to accomplish goals
© 2010 Altimeter Group
Conversations, not messages
Human, not corporate
Continuous, not episodic
The New Normal5
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10 elements of openness6
• Explaining• Updating• Conversing• Open Mic• Crowdsourcing• Platforms
Information Sharing
• Centralized• Democratic• Consensus• Distributed
Decision Making
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Determine how open you need to be with information to meet your goals
7
Openness audit available at http://bit.ly/opennessaudit
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Understand the socialgraphics of your audience
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Curating
Producing
Commenting
Sharing
Watching
<1%
34%
26%
63%
78%
Source: Global Wave Index Wave 2 Trendstream.net, January 2010
U.S. adults
© 2010 Altimeter Group
Four goals define your open strategy9
LearnDialog
Support
Innovate
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How Best Buy became open10
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Best Buy’s First Social Media Experts11
Steve Bendt & Gary Koelling
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Steve & Gary had an executive sponsor
12
Barry Judge CMO of Best Buy
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Barry’s first post13
“I was so relieved when it was over—it was just two sentences to get started.”
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The Premier Black Fiasco14
6.8 million emails sent instead of 1,000 test
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© 2010 Altimeter Group
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Being an Open Leader
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The Four Open Leadership Archetypes
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Cautious Tester
Realist Optimis
t
Worried Skeptic
Transparent
Evangelist
Pessimist Optimist
Collaborative
Independent
© 2010 Altimeter Group
Skills of successful Open Leaders
Lionel MenchacaDell
Ed TerpeningWells Fargo
Lovisa WilliamsUS Dept. of State
Shares easily Authentic Transparent Disciplined
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© 2010 Altimeter Group
Dell was on fire…literally19
Osaka, JapanJune 21, 2006
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Authenticity was earned over time20
© 2010 Altimeter Group
Transparency came slowly but surely to Wells Fargo
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March 2006
January 2009
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Transparency takes time, patience22
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Discipline led to results at Dept. of State
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Started with clear social media policy.
Reached out to leaders with the greatest need – embassy staff.
Jakarta embassy has ~150,000 fans on Facebook.
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Create Sandbox Covenants
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Getting Started
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#1 Align openness with strategic goals
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Examine your 2010 goals
Pick one where open and social can have an impact
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#2 Prepare your organization27
Can you add value?
Evaluate the
purpose
Respond in kind & share
Thank the person
Unhappy Customer?
DedicatedComplainer
?
Comedian Want-to-
Be?
NegativePositive
Yes No
Do you want to
respond?
No Response
No
Yes
Take reasonable action to fix issue and let customer know action taken
Are the facts
correct?
Gently correct the facts
No
No
No
Yes
Are the facts
correct?
Does customer need/deserve
more info?
Yes
Explain what is being done to
correct the issue.
Yes
Is the problem
being fixed?
Yes
Let post stand and monitor.
No
Yes
NoYes
Yes
Assess the message
Adapted from US Air Force Comment Policy
© 2010 Altimeter Group
28
“We tend to overvalue the things
we can measure, and undervalue
the things we cannot.”
- John Hayes, CMO of American
Express
#3 Understand the value
© 2010 Altimeter Group
+ Value of purchases- Cost of acquisition
____________________
= Customer lifetime value
The new lifetime value calculation
• Percent that refer• Size of their networks• Percent of referred
people who purchase• Value of purchases
• Percent that provide support
• Frequency and value of the support
+ Value of new customers from referrals
+ Value of support+ Value of ideas
+ Value of insights
Spreadsheets for 15 year lifetime value calculation available at charleneli.com/resources
29
© 2010 Altimeter Group
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• Acknowledge that failure happens.
• Encourage dialog to foster trust and speed recovery.
• Adopt Google’s mantra: “Fail fast, fail smart”
#4 Prepare for failure
© 2010 Altimeter Group
Focus on relationships, not the technologies.
Determine how open you need to be achieve your strategic goals.
Seek out and support your open leaders. Embrace failure and mistakes – you’ll be
making many of them.
Summary31
© 2010 Altimeter Group
Open Leadership Awards32
http://bit.ly/OLawards2010
Case studies due September 10th
© 2010 Altimeter Group
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Thank you
33
Charlene [email protected]
charleneli.com/blog
Twitter: charleneli
For slides, send an email to
Open Leadership Awards
http://bit.ly/OLawards2010