2010 777: The Social Business: What's Now, What's New and What's Next?
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7 Experts – 7 Tips – 7 Minutes The Social Business: What’s Now? What’s New? What’s Next?
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Transcript of 2010 777: The Social Business: What's Now, What's New and What's Next?
7 Experts – 7 Tips – 7 Minutes
The Social Business:What’s Now? What’s New? What’s Next?
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Ground rules for 7771. Each EXPERT will have SEVEN MINUTES to share
their TIP.2. A one-minute warning will sound. 3. Once the signal sounds, no more TIPS! 4. Please hold all questions until the end. 5. There will be approximately 30 minutes for questions
and answers after all have shared. 6. Questions should be directed to the moderator. 7. Please keep track of TIPS on the back of your info
sheet.
Social Media KPI's
Measuring Engagement
How & Why We Measure Engagement• Why?
o Without goals and tracking, social media is just another
'shiny object' • How to Measure Success?
o Pageviews
o Unique visitors
o Time spent on site
o New 'friends' after 30/60/90 days
Return On InvestmentROI = (Gain from investment - Cost of investment)/Cost of investment
• Social media metrics like increased views, visitors and friends are NOT measurements of ROI
• Set specific baselines, such as increased transactions and numbers
of new customers • Track your sales, retention and transactions, then overlay all
timelines to identify trends
o Ex. Increases in blog comments, website visits and social mentions correspond to higher profits
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Traditional Rules Apply
Traditional RulesLaws prohibiting:
• False advertising• Misleading investors• Defamation• Copyright and trademark infringement• Invasion of privacy
Doctrine of respondeate superior (company can be liable for actions of agents and employees)
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Guidance from Regulators
• Federal Trade Commission: employees and bloggers receiving compensation must disclose relationship
• Securities and Exchange Commission: anti-fraud provisions apply to statements made in online communications
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Enforcement & Lawsuits“Company Settles Case of Reviews It Faked,” New York Times,
July 14, 2009
“Online Electronics Stores Caught in Consumer Fraud,” New York Times, June 25, 2009
“Notice Those Ads on Blogs? Regulators Do, Too,” New York Times, August, 10, 2009
“Controversial Blog on Patent Suits Is Authored by Cisco Executive,” Wall Street Journal, February 25, 2008
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Summary
• The old rules apply,• You may be liable for the internet activities of your
employees and agents that relate to your company, its products or services, and
• The government and your competitors are watching.
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TO DO:• Design social media campaigns to comply with old
rules
• Don’t fake it or act secretly
• Establish guidelines for employees and bloggers you hire
• Monitor compliance
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Increase “people proximity” by overcoming communication barriers
with cloud computing & remote access
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• NPI is focused on excellence in voice and data network services and security.
• We help businesses succeed by ensuring… • High performance communications
• Business continuity• Privacy & Security• Comprehensive & Flexible IT support NPI was founded in 1988, based in South Burlington, Vermont with customers throughout the Northeast.
Our staff is certified by major vendors like Microsoft - Cisco – Juniper – RSA – Dell - VMware – Shoretel -
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Key Barriers to Business Communications• Geography • Time • Social
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Geographic Barrier1. Accelerate communications to anyone anywhere, using the social
network features of cloud apps like Salesforce Chatter, SugarCRM Sugar On-Demand.
2. Assure that everyone has mobile devices so everyone anywhere can participate. Subsidize the use by paying part of the bill.
3. Use new powerful sharing features in MS Office 2010 and Sharepoint to breakdown geographic barriers to sharing core work.
“Every 10 years a major innovation takes place in computing – cloud computing combined with social networking is one of these. The future of enterprise software looks more like Facebook on the iPod than anything “ - Marc Benioff (Salesforce)
Time Barrier1. Live in the “now” by leveraging the cloud and mobile devices to
instantly complete tasks rather than putting them off until later.
2. Move from email to texting to pick up your pace and gain from the power of real-time collaboration.
3. Create your own “dashboard” using mobile apps on your smartphone or tablet to get instant feeds of “real time” critical data.
4. Leverage mobile tech to “manufacture” the extra time needed for business social networking.
“Mobile apps open a window of advantage by adding surprising speed and efficiencies. - Mark Jordan Sybase
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Social Barrier1. 54% of CIOs prohibit employees from using social networking. Trust
“business identified” employees to use social networks so the business can harvest the great content coming from this unstructured tool.
2. Build a Wiki to harness the creative, ”wisdom of the crowd”.
3. Create a CEO blog to share the vision and provide “high touch” to your customers.
4. Reach out to generation i by using their own tools and methods.
“What determines our inventiveness is the amount of interaction. Right now our ideas are making love with each other like never before.” – Matt Ridley WSJ
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Locate Yourself
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Phone Book
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What are Geo-Social Networks? Why Do We Care?
+ =+( )
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Geo-social Networks
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A Game
Checking in multiple times Photogenic badge Overshare badge
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Tips
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Burlington Foursquare Day
• Participants:• The Scuffer and Magic Hat: free t-shirts• Red Square: waived cover charge• Lake Champlain Chocolates: free truffle• August First: $4 every check-in to King Street Youth Center• Candles & Creations and 156 Bistro: 10% off all day.
Facebook.com/BTVfoursquareDeepDishCreative.com (BTV Foursquare case study)
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Geo-Social Networking Challenges
• Advantages can be limited depending on geography• Oversharing and privacy
• PleaseRobMe.com• Etiquette
• OldMediaNewTricks.com/foursquare-etiquette-guide/
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Locate Yourself
Value = CONNECTION1. List your business. Google Local, Foursquare, join Twitter2. Get FREE feedback3. Examine your marketing strategy
• Business goals• Audience• Tone of Voice
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Just for Retail?
No!• Education (Harvard and UNC)• Travel (Lufthansa, SCVNGR)• Services (Community-giving)• Be Creative
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Check-in on Foursquare …
… for the Swarm badge!
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Social CRM It is all about the Customer
your
First - What is CRM?
• Contact management, only it costs more?
Name, Address, Phone #
• A place to manage transactions?
Orders, Invoices, Issues
• A place to manage potential customers
Prospects, Leads, Opportunities
• Something sales people complain about?
Because they do not understand what’s in it for them!
(Customer Relationship Management)
Social CRM is an extension of CRM, the biggest change is a focus on your Customers, not a focus on you
CRM Social CRM
Sales, Support & Marketing + Customer
Static Processes
Dynamic Processes
1 to 1Private channel
Many to ManyPublic Channel
Technology Culture and Technology
Different parts of the organization are not aligned, a Social CRM strategy includes strong guidelines for alignment
Image by:Textualcreations.ca
Social CRM is based on the simple principle that you will invite your customer intothe ecosystem and interact with them based on their needs, not your rules.
Support - Keep the ordinary, ordinary; Social includes public channels; more personality needed
Sales – The value-add of you and your company’s expertise, not just your product are important,
Marketers – Learn to listen, engage and create with your customers, add facts with personality,
Social CRM can be done without technology – trucks and delivery personnel can be a great social network
TIPS – 1 each
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Evaluate Your Mobile Strategy Now7 minutes to being a …
Predictions
Rationale
Options
… in Mobility
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PredictionMobile Internet Users > Desktop Internet Users … within 5 years.
FactMobile Internet is ramping faster than Desktop Internet did.
- Both Prediction & Fact from Report by Mary Meeker of Morgan Stanley“April 2010 Internet Trends”
Evaluate Your Mobile Strategy Now
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PredictionDemand for mobile content > carrier capacity …within 5 years.
FactMobile data traffic surpasses voice demand for 1st time in Dec 2009.
- Prediction from RYSAVY Research Paper Feb 2010 using AT&T data for FCC- Fact from Ericsson at CTIA Wireless Mar 2010 Conference
Evaluate Your Mobile Strategy Now
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PredictionHybrid Apps > Web Apps > Standalone Apps …within 5 years.
FactMore Users + Slower Pipes = Poor User Experience
- Prediction from Tom Jaros, Empower Mobility- Fact supported by trends in Apple iPhone OS 1.0 to 4.0 Evolution
Evaluate Your Mobile Strategy Now
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Rationale
Evaluate Your Mobile Strategy Now
Solve Pain PointsImprove ProductivityIncrease EfficiencySecure More CustomersEnsure Less Errors
Utilize Better MetricsLeverage Expansive MarketMake Direct ConnectionsObtain Immediate FeedbackEnable Collaboration
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Options
Evaluate Your Mobile Strategy Now
Current
Lots of Social Media ToolsMobile Websites / Web AppsInexpensive RAD ToolsCustom App Development
Emerging
Expanding Ad ChannelsLocation-Based Services / RFIDAugmented Reality / InteractiveCollaborative / Context-Aware
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Will You Be Ready?
Evaluate Your Mobile Strategy Now
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Keep It Real
In keeping it real…• Be Relevant• Listen• Brand = Business Personality• Target Audiences ARE NOT Clones!• Stop Communicating to the Masses!• Professional & Amateur Media BOTH use Social
Media Tools• Relationships Built using Social Media Tools helps
Word of Mouth Marketing Work Effectively• Keep Listening & Changing to Keep It Real!
Questions and comments?
• Direct your question at a specific panelist, or ask generally• Moderator will help to clarify the question or ask follow up• Please be considerate of others
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THANK YOU! • Please complete the evaluation form. • Please connect with us. • Slides are available for download at:
www.slideshare.com/dvdv
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