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Developing a Social Strategy
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Transcript of Developing a Social Strategy
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2010 Altimeter Group
Developing a Social Strategy
Charlene Li
Altimeter Group
February 24, 2010
Jeremiah Owyang
Altimeter Group
#socialstrategy
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Research is the foundation of any strategy. Our first webinar (Part 1) of this series focused on
how to use socialgraphics to create your ownEngagement Pyramid.
This webinar (Part 2) will focus on developing asocial strategy based on business goals.
The next webinar (Part 3) will explain how to get
your company ready to execute a social strategy.
A 3-part series
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2010 Altimeter Group
Its not about the technologies
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Focus on relationships, not technologies
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2010 Altimeter Group
Social Strategy
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Four goals define your strategy,but always start with learn
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Ethnographic research using Delicious
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Dialog with your community
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Engagement Pyramid: Focus on Watching and Sharing
Curating
Producing
Commenting
Sharing
Watching
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At Southwest, a planner engages
This post received 98 comments over 10 days. In the future, ev
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DellOutlet drives sales with Twitter
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Kohls engages directly with customers
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Help your members support each other
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Wells Fargo Supports Customers
ir bankers hours tradition. Rather than hide behind a logo, they use real human voices and names, increasi
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Premier Farnell supports engineers with community, andemployees with OurTube
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Starwood guests help each other
views each. Starwood guests are visiting the forum and finding answers, while Starwood collects market in
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Microsofts MVP Experts Support and Advocate
ssionals once a year. This unpaid army supports other customers and becomes community advocates
* Disclosure: Microsoft is an Altimeter Client, learn more about our disclosure policy athttp://www.altimetergroup.com/disclosure
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Innovate with customer feedback
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Gauging interest for Bacon Salt
heir new product. Baconaisse and bacon-flavored sunflower seeds were later created after listening to cust
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Fiat gathers product and market intelligence
Contributors submit ideas, and can include pictures and embed videos. Fiat gets valuable ideas f
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P&G used ratings & reviews to improve
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Dell innovates across the organization
Use new listening platforms, identify in-house and external experts, and
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What to do first
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#1 Start small, start now
At the least, listen to learn
Pick a goal
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Where to start? Align social withstrategic goals
Examine your 2010 goals
Pick one where socialcan have an impact
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#2 Understand the value
Whats the value of a fan or follower?
+4 million fans
16,965 followers
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+ Value of purchases- Cost of acquisition
= Customer lifetime value
+ Value of new customers
from referrals+ Value of insights+ Value of support
The new lifetime value calculation, based on your goals
Percent that referSize of their networksPercent of referredpeople who purchaseValue of purchases
Percent that providesupportFrequency and value of
the support
+ Value of ideas
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#3 Prepare for new workflows
Social technologies will disrupttraditional organization structures
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#4 Practice Open Leadership
When people get what theyneed from each other
Have the confidence to letgo and still inspire results
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Open Leadership
Having the confidenceand humility to give upthe need to be in control,
while inspiring commit-ment from people toaccomplish goals.
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10 elements of openness
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Social + open = competitive advantage
+2,200 Best Buy employees answer questions
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Plan to fail well Wal-Mart case study
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Buyer blog hit the right note
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Build trust and manage risk
The Sandbox Covenant
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Like any relationship, the best ones are best on built
on listening and understanding.
Pick one goal and master that, then layer on more.
When choosing a social strategy goal, align it with your
business goals and those of your customers. Benchmark your progress based upon your business
goals, not engagement data.
Change your mindset: letting go will yield
more results.
Summary
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Thank you
Charlene Li
blog.altimetergroup.com
Twitter: charleneli
Jeremiah Owyang
web-strategist.com/blog
Twitter: jowyang
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About Us
Altimeter Group is a strategy consulting firm that provides
companies with a pragmatic approach to disruptive technologies.
We have four areas of focus: Leadership and Management,
Customer Strategy, Enterprise Strategy, and Innovation and Design.
Visit us at http://www.altimetergroup.com or contact
