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Keynote: How Social Business Must Scale
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1
What's Next: The Three Trends Companies Must Invest in for Social Business
For Social Media SummitJune 11, 2010
Jeremiah OwyangPartner
© 2010 Altimeter Group
The conversation has shifted off domain
Source: Pew Resource Center’s Internet and American Life Project (October 8, 2009)
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Facebook is second biggest site in US
Source: Compete.com (January 2010)
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4
50 million tweets a day on Twitter
Source: Twitter (February 22, 2010)
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Image by atomicShed used with Attribution as directed by Creative Commons http://www.flickr.com/photos/atomicshed/161716855
© 2010 Altimeter Group
Image by atomicShed used with Attribution as directed by Creative Commons http://www.flickr.com/photos/atomicshed/161716498
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7Image by Dominique Sanchez used with Attribution as directed by Creative Commons http://www.flickr.com/photos/bakou67/3689024981
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The first company.
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9Image by IronRodArt - Royce Bair used with Attribution as directed by Creative Commons
http://www.flickr.com/photos/ironrodart/4154904299
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10Image by Martin Deutsch used with Attribution as directed by Creative Commons http://www.flickr.com/photos/teflon/415484129
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The second company.
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12Image by citizensound used with Attribution as directed by Creative Commons http://www.flickr.com/photos/citizenbay/3772390381
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13Image by dontthink.feel used with Attribution as directed by Creative Commons http://www.flickr.com/photos/dontthinkfeel/2788417078
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The future of social business requires companies to scale
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Harness the Rings of Influence
Develop Peer to Peer Systems
Invest in Social CRM
3 Ways for Companies To Scale15
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Rings of Influence
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Rings of social influence17
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Traditional – but limited communication18
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The corporate press release often does not influence customers
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CEOs not credible among most US consumers
Source: Edelman Trust Barometer, 2010
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Yet long term executive voices can make a difference
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The company voice is the mainstay of corporate communications, yet to increase trust, augment with respected and trusted executives.
Enable executives to speak on their own –yet aid them with resources (podcast, video) analytics and advice.
Brands that have consumer affinity already may have brand zealots (Facebook fan pages, like Coke) develop a strategy to activate their participation.
Best practices: Brand Ring22
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Companies enable employees to use social23
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Intel employees blog give customers an “inside look”
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“Blogs@intel offer an ‘inside look’ at Intel’s
operations and provides opportunities for you to exchange ideas directly
with our employees.”
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“A collective force” of thousands of Best Buy employees support customers
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Establish guardrails to protect both employees and the company
Offer internal training courses, (like Intel’s certification program) and recurring training
Offer an internal water cooler where they can talk in a safe place and plan: Yammer, Socialcast, Community Platforms
Best practices: Employee Ring26
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Companies enable customers – ratings27
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DSW customers recommend products
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Real moms advocate for Walmart29
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Microsoft recognizes Most Valuable Professionals
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Starbucks partners with Foursquare to empower check-in advocates
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Google SideWiki Shifts Power to Customers
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For better or worse, customers are already talking about you – how can you aggregate their voices closer to your brand?
Develop an advocacy program to recognize and reward your top customers.
Chance your mindset to understanding that critical feedback is an opportunity for product and service improvements –then use to increase loyalty and WOM.
Best practices: Customer Ring33
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Prospects are influenced by other rings34
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Monitor what prospects are saying about you
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American Express’s ‘Workstyle’ Community
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To reach prospects, engage them in their life and workstyles.
Conduct a “build vs join” analysis to see which will be most appropriate. (Hint: the answer is “yes”)
Launch using a ‘lightly branded’ approach, by focusing on their needs –not that of the brand.
Best practices37
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Develop Peer to Peer Systems
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Image by Pieter Musterd used with Attribution as directed by Creative Commons http://www.flickr.com/photos/piet_musterd/1858568495
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Q&A Tools and Communities
Ratings, Rankings, and Reputation
Develop Peer to Peer Systems39
© 2010 Altimeter Group
Q&A Tools and Communities
Ratings, Rankings, and Reputation
Develop Peer to Peer Systems40
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Adobe users trouble-shoot with product-focused Q&A41
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MS Office users seek Mac specific help 42
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Q&A Tools and Communities
Ratings, Rankings, and Reputation
Develop Peer to Peer Systems43
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Dell customers make shopping decisions based on customer ratings
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TurboTax users rank “Best Answers”45
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Oracle super users recognized on leader board46
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Social CRM Will Enable Efficiencies
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Image by Slowtron used with Attribution as directed by Creative Commons http://www.flickr.com/photos/fuckr/91530309
© 2010 Altimeter Group
Existing customer records will tie with social networks.
This will lead to companies being able to anticipate customers –or respond quickly.
Dell, Comcast are using brand monitoring, a CRM dashboard to quickly identify customers and then respond.
This process will lead to a holistic customer experience and customer intelligence.
Social CRM Concepts and Examples48
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Start with the Five 5Ms49
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Marketing SalesService & Support
Innovation CollaborationCustomer
Experience
2. Social Marketing Insights
3. Rapid Social
Marketing Response
4. Social Campaign Tracking
1. Social Customer Insights: The 5M’s
5. Social Event
Management
6. Social Sales Insights
7. Rapid Social Sales Response
8. Proactive Social Lead Generation
9. Social Support Insights
10. Rapid Social
Response
11. Peer-to-Peer Unpaid
Armies
12. Innovations
Insights
13.Crowdsourced
R&D
14. Collaboration
Insights
15. Enterprise Collaboration
17. Seamless Customer
Experience
18. VIP Experience
16. ExtendedCollaboration
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The 18 Use Cases of Social CRM
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0.00 1.00 2.00 3.00 4.00 5.000.00
1.00
2.00
3.00
4.00
5.00
I1: Innovation Insights
M3: Social Campaign Tracking
C1: Collaboration Insights
CX2: Seamless Social
M4: Social Event Management
I2: Crowdsourced R&D
C3: Extended CollaborationS2: Rapid Social Sales Response
CX1: VIP Experience
S1: Social Sales Insights
M2: Rapid Social Marketing Response
C2: Enterprise Collaboration
M1: Social Marketing Insights S3: Proactive Lead Generation
SP3: P2P Unpaid Armies
F1: Social Customer Insights
SP2: Rapid Social Response SP1: Social Support Insights
Vaporware
Early Movers
Early Adoptions
Evangelizables
Near Tipping Points
Prototypes Early Adoption
Beta Ready Market Ready
Critical Mass
Tech Maturity
Mark
et
Dem
an
d
Over 32 mos.
24-32 mos.
12-18 mos.
6-12 mos.
Under 6 mos.
18-24 mos.
Not All 18 Social CRM Use Cases are Market Ready
© 2010 Altimeter Group
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1. Take inventory of all your current social assets.
2. Start to develop new fields in your CRM system.
3. Populate these fields manually, or by using automated systems.
4. Train employees at every customer touch point to understand how these systems work.
How to get started in Social CRM52
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Remember, employees cannot scale for social business –customers will always outnumber you
Leverage all the voices in your ‘rings’, not just the traditional trained voices. Yet recognize the most trusted rings have the least control
Use the crowd to self support not just in customer service but also in marketing. Change your mindset to be an enabler of customer voices.
Develop a Social CRM roadmap by downloading the Social CRM report, google “Social CRM Report”, this is an automated way to scale.
Summary and Next Steps53
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Jeremiah [email protected]
m
web-strategist.com/blog
Twitter: jowyang
THANK YOU
With assistance from Christine Tran, Researcher
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Altimeter Group is a Silicon Valley-based strategy
research and
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
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