SVAMA Speech "Understanding And Capitalizing On The Groundswell"

• 1. Understanding And Capitalizing On The Groundswell Charlene Li Altimeter Group May 14, 2009 If you would like a copy of the slides, please leave a business card with me.

2. Is this what social media is about? Source: Wordle.net 3. Its about the relationship 4. 5. What kind of relationship do you want? Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal Focus on relationships, not technologies 6. But its hard to form relationships 7. What you need is a strategy What will you do? What wont you do? 8. Link digital goals to corporate strategy 9. Goals define your strategy 10. Learn with monitoring tools 11. How Oracle encouraged feedback 12. Build dialog with the Engagement Pyramid Base: Global active Internet users (uses the Internet every day/every other day Note: Percent of active Internet users that do this at least weekly Source: Universal McCann Social Media Tracker Wave 3, March 2008 *Source: Lithium Technologies, May 2009

• Edit a wiki

• Moderate a forum

• Write in a blog 21%

• Upload a video 18%

• Rate a product or service

• Comment on a blog post

• Write in a discussion forum 47% of users*

• Share online video 37%

• Update profile 35%

• Upload photos 23%

• Watch online video 59%

• Read blogs 48%

• Download podcasts 23%

13. Lets talk about taxes For H&R Block, its a conversation, not a campaign 14. Dialog with Frank Eliason, Comcast 15. Dawn supports with reviews 16. Starbucks innovates across the organization 17. Getting started 18. #1 Get the right people on the bus 19. Find your revolutionaries Lionel Menchaca Dell Ed Terpening Wells Fargo Paula Drum H&R Block 20. Have a plan to deal with differentsocial media mindsets Find the moments of faith and moments of crisis for each mindset 21. #2 Measure the right things Your goals determine your metrics Use the same metrics as your marketing goals 22. Example micro metrics 23. Higher order metrics to consider How likely are you to recommend this to someone you know? Net Promoter Score Lifetime revenue Cost of acquisition Cost of retention Customer referral value (CRV) Lifetime Value 24. #3 Get the right help See a list at wiki.altimetergroup.com 25. How to find good help

• Focuses on relationships, not campaigns.

• Uses social media successfully themselves.

• Commits resources to learning and training.

• Has learned from their mistakes.

• Respects and is humbled by the medium.

26. #4 Start small Experiment Listen first 27. Convincing your curmudgeon Its a fad and waste of time. - Make it real. Theres no ROI. - Tie it to goals. Its way too risky. - Develop worst case scenarios. 28. #5 Embrace failure Identify the top 5-10 worst case scenarios. Develop mitigation and contingency plans. Prepare everyone for the inevitable failures. 29. Wal-mart failed many, many times 30. Buyer blog hit the right note 31. Photo: Kantor,http://www.flickr.com/photos/kantor 32. An essential tool to have 33. Thank You Charlene Li Altimeter Group [email_address] blog.altimetergroup.com Twitter: @charleneli To get a copy of slides,please leave your business card Copyright 2009 Altimeter Group