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Presentation at SFAMA, January 12, 2010. Includes new concepts of social context providing relevancy, how to measure social technology benefit using lifetime value.
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The Future Of Social Networks
Charlene LiAltimeter GroupJanuary 12, 2010
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San Francisco AMA
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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.
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Universal sign-in5
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Facebook Connect extends6
See what friends read/comment on
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Import friends into the experience7
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Social moves into enterprise apps
Salesforce Chatter
LinkedIn in Lotus Notes
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Share updates back and forth9
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Social on TV and television sets10
Conversation around news events
Verizon FiOS integrates Facebook & Twitter
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Mobile making in-roads11
Foursquare “gestures” to friends
And sends an ad Gowalla gestures to everyone
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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
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Engagement Pyramid15
Curating
Producing
Commenting
Sharing
Watching
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There’s now a culture of sharing
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Define Goals by Objective17
Learn
Dialog
Support
Innovate
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How To Prepare
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What kind of relationship do you want?
Transactional
OccasionalImpersonalShort-term
PassionateConstantIntimate
Loyal
#1 Focus on relationships, not technologies
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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
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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
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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
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#3 Create new workflows
Social technologies will disrupt traditional organization structures
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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
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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
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#5 Fail fast, fail smart30
Identify the top 5-10 worst case scenarios.
Develop mitigation and contingency plans.
Encourage risk taking and forgive failures.
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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.
