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The Future Of Social Networks

Charlene LiAltimeter GroupJanuary 12, 2010

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San Francisco AMA

© 2010 Altimeter Group

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Agenda

How to think about the future What you should do about it


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Social networks will be like air.


Universal sign-in5


Facebook Connect extends6

See what friends read/comment on


Import friends into the experience7


Social moves into enterprise apps

Salesforce Chatter

LinkedIn in Lotus Notes

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Share updates back and forth9


Social on TV and television sets10

Conversation around news events

Verizon FiOS integrates Facebook & Twitter


Mobile making in-roads11

Foursquare “gestures” to friends

And sends an ad Gowalla gestures to everyone


Using social context to create relevance

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TimeFacebookOpenSocial

AsynchronousReal-timeIntention

PlaceData

IdeasItems

People

Location & Objects


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Socialgraphics14

Demographic

Geographic

Psychographic

Behavioral

Socialgraphics


Engagement Pyramid15

Curating

Producing

Commenting

Sharing

Watching


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There’s now a culture of sharing


Define Goals by Objective17

Learn

Dialog

Support

Innovate


How To Prepare


What kind of relationship do you want?

Transactional

OccasionalImpersonalShort-term

PassionateConstantIntimate

Loyal

#1 Focus on relationships, not technologies


Obama redefined political campaigns

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#2 Measure the right things

Your goals determine your metrics

Use the same metrics as your strategic goals


Example “micro” metrics

Goal Metric Value

Learn # of customer feedback

Impact of faster, better insights

Dialog # of comments# of referrals

Greater loyaltyFaster, more closes

Help # of issues addressed

Increased satisfaction

Innovate # of implemented ideas

Faster development


Measuring lifetime value in a new way

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+ Value of purchases- Cost of acquisition

+ Value of new customers from referrals

+ Value of insights+ Value of support

+ Value of ideas= Customer lifetime value

• 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


#3 Create new workflows

Social technologies will disrupt traditional organization structures


Social pressures traditional orgs

Task Strategy Changes

Market research Learn • Monitor conversations• All employees listen & learn

Marketing/Sales Dialog • Any employee can converse• Bridge the consideration gap

Customer support

Help • Proactively seek out problems• Enable customers to help

Product development

Innovate • Seek ideas from customers• Broaden employees involved


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Ties these comments back to customers


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#4 Be Ready To Give Up Control


The Sandbox Covenant

Openness requires accountability

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The Red Cross handbook/policies help keep order

http://sites.google.com/site/wharman/social-media-strategy-handbook29


#5 Fail fast, fail smart30

Identify the top 5-10 worst case scenarios.

Develop mitigation and contingency plans.

Encourage risk taking and forgive failures.


Wal-mart failed many, many times

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Buyer blog hit the right note


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Summary

Social networks will be like air.

Use social context to create relevancy.

Be ready to give up control – you have no

choice.

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Thank you

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Charlene [email protected]

m

blog.altimetergroup.com

Twitter: charleneli

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