Stanford Breakfast: Creating Winning Social Media Strategies
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Creating Winning Social Media Strategies Charlene Li Altimeter Group September 9, 2009 For a copy of slides, send an email to [email protected]
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Presentation by Charlene Li at the Stanford Breakfast Briefing Series, Wednesday, September 9, 2009
Transcript of Stanford Breakfast: Creating Winning Social Media Strategies
Creating Winning Social Media Strategies
Charlene LiAltimeter GroupSeptember 9, 2009
For a copy of slides, send an email to [email protected]
What engagement often looks like today
2
Meet Dave Carroll
Source: davecarrollmusic.com
Welcome to the Groundswell
5
A power shift, catalyzed by social technologies
When people get what they need from each other
Technologies can be confusing
Source: Wordle.net
It’s about the relationship
What kind of relationship do you want?
Transactional
OccasionalImpersonalShort-term
PassionateConstantIntimate
Loyal
Focus on relationships, not technologies
Goals define your strategy
Learn
Dialog
Help
Innovate
Always start with Learn
Learn
Dialog
Help
Innovate
Learn with monitoring tools
Radian6 enables learning organizations
13
How Oracle encouraged feedback
Dialog with your community
Learn
Dialog
Help
Innovate
Curators
Producers
Commenters
Sharers
Watchers
The Engagement Pyramid
HP actively encourages sharing
At Southwest, a planner talks
Post received 98 comments over 10 days
In the future, everyone is a marketer
Driving sales with Twitter
Help your members support each other
Learn
Dialog
Help
Innovate
Comcast provides support via Twitter
Goals define your strategy
Learn
Dialog
Help
Innovate
Starbucks innovates across the organization
Getting started
“We don’t have the time, money, or people.”
“People will abuse it.”
“Our boards/volunteers are short-term focused.”
“IT/Legal won’t let us.”
“I’m afraid of losing control.”
What’s stopping you?
Audience
#1 Start small, start now
Goal
Revolutionary
Deal with different mindsets
FearfulSkeptic
Cautious Tester
Realist Optimist
Transparent Evangelist
Find the “moments of truth” and “moments of crisis” for each
mindset
Wal-mart failed many, many times before they figured it out
#2 Measure the right things
Your goals determine your metrics
Use the same metrics as your strategic goals
Example “micro” metricsGoal 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
Higher order metrics to consider
How likely are you to recommend this to someone you know?
Net Promoter Score
Lifetime revenueCost of acquisitionCost of retentionCustomer referral value (CRV)
Lifetime Value
#3 Give up the need to be in control
Photo: Kantor, http://www.flickr.com/photos/kantor
Deciding how open to be
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Your goals
Your audiences’ needs
The competiti
on
The Sandbox Covenant
How to give up control and be in command
The Red Cross handbook/policies help keep order
http://sites.google.com/site/wharman/social-media-strategy-handbook
Summary•Focus on the relationships,
not the technologies
•Start by learning from the conversations
•Prepare to let go …
… of the control you never had
Thank You
Charlene LiAltimeter Group
Twitter: @charleneli
For slides, send an email [email protected]
Copyright © 2009 Altimeter Group35
