Four Laws of Social Business

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Four Laws of Social Business Jeremiah Owyang Altimeter Group May 2010 1 SMASH SUMMITT

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There are more than four. Laws can be broken, but not without consequences. Whether a buyer or seller, abide by these to prosper. The thing about the laws… 2

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Four Laws of Social Business 3

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1) Don’t Fondle the Hammer © 2010 Altimeter Group Image taken by 0108dk used with Attribution as directed by Creative http://www.flickr.com/photos/0108dk/4181928709/

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Run when you hear “Twitter Strategy” or “Facebook Strategy” – it’s putting the cart before the horse. Instead, focus on how you’ll understand customers. Then choose a business objective. First, focus on customers 5

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Socialgraphics 6 Demographic Geographic Psychographic Behavioral Social graphic

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Where are your customers online? What are your customers’ social behaviors online? What social information or people do your customers rely on? What is your customers’ social influence? Who trusts them? How do your customers use social technologies in the context of your products . Socialgraphics asks key questions 7

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Social Strategy Objectives 8

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Focus on building the house – not the hammer

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2) Live the 80% rule © 2010 Altimeter Group

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Treat social success like launching a new product. 80% of success is getting your company ready – only 20% is about the technologies. You can’t love your customers ‘till you love yourself first.  Get your company ready 11

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Crisis response plan 12

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Social media triage 13 Can you add value? Evaluate the purpose Respond in kind & share Thank the person Unhappy Customer? Dedicated Complainer ? Comedian Want-to-Be? Negative Positive 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 No Yes Yes Assess the message

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One department controls all efforts Consistent May not be as authentic e.g. Ford Centralized 14

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Organic growth Authentic Experimental Not coordinated e.g. Sun Organic 15

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One hub sets rules, best practices, procedures Business units undertake own efforts Spreads widely around the org Takes time e.g. Red Cross Coordinated 16

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Similar to Coordinated but across multiple brands and units e.g. HP Multiple hub and spoke or “Dandelion” 17

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Each employee is empowered Unlike Organic , employees are organized. e.g. Dell, Zappos Holistic or “Honeycomb” 18

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Social strategist: Responsible for the overall program, including ROI Community manager: Customer facing role trusted by customers Roles 19

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3) Customers don’t care what department you’re in © 2010 Altimeter Group Used with creative commons http://www.flickr.com/photos/faikevin/3176938440/

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22 Customer don’t care what department you’re in

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Now, with social tools, every employee can talk to customers and prospects.   Yet, this could create confusion with clients. New systems will be needed to centralize data so customers have a holistic experience. Customers deserve a holistic approach 23

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Connects the Social Web with existing CRM Systems Enables Brands to better manage relationships Catch leads in real time Allow for better account management Anticipate customer needs Social CRM helps companies catch up 24

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Marketing Sales Service & Support Innovation Collaboration Customer 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. Extended Collaboration © 2010 Altimeter Group Attribution-Noncommercial-Share Alike 3.0 United States The 18 Use Cases of Social CRM

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© 2010 Altimeter Group Attribution-Noncommercial-Share Alike 3.0 United States Not All 18 Social CRM Use Cases are Market Ready

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4) Real time is *not* fast enough © 2010 Altimeter Group Used with creative commons http://www.flickr.com/photos/faikevin/3176938440/

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Evolution of the web 28

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29 Real time is not fast enough

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Microsoft’s MVPs empowers community

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Walmart’s 11 Moms gives consumers a voice

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The Four Laws Of Social Business 32

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How To Prosper 33

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34 Jeremiah Owyang jeremiah@altimetergroup.com web- strategist.com/blog Twitter: jowyang THANK YOU

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35 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 info@altimetergroup.com. About Us

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