Altimeter Group Webinar "Developing A Social Strategy", February 24, 2010 by Charlene Li and Jeremiah Owyang.

1. Developing a Social Strategy Charlene Li Altimeter Group February 24, 2010 1 Jeremiah Owyang Altimeter Group #socialstrategy

2. Research is the foundation of any strategy. Our first webinar (Part 1) of this series focused on how to use socialgraphics to create your own Engagement Pyramid. This webinar (Part 2) will focus on developing a social strategy based on business goals. The next webinar (Part 3) will explain how to get your company ready to execute a social strategy. A 3-part series 2

3. It’s not about the technologies 3

4. Focus on relationships, not technologies 4

5. Social Strategy

6. Four goals define your strategy, but always start with learn 6

7. Learn with monitoring tools 7

8. Paid services provide monitoring 8 Other providers BuzzmetricsCymfony Dow Jones Scout Labs Techrigy/Alterian Visible Technologies From Radian 6

9. Ethnographic research using Delicious 9

10. Dialog with your community 10

11. 11 Curating Engagement Pyramid: Focus on Watching and Sharing Producing Commenting Sharing Watching

12. At Southwest, a planner engages 12 This post received 98 comments over 10 days. In the future, everyone is a marketer.

13. DellOutlet drives sales with Twitter 13

14. Kohl’s engages directly with customers 14

15. Help your members support each other 15

16. Wells Fargo Supports Customers 16 Ask Wells Fargo supports customers in real time –while keeping true to their bankers hours tradition. Rather than hide behind a logo, they use real human voices and names, increasing trust

17. Premier Farnell supports engineers with community, and employees with “OurTube” 17

18. Starwood guests help each other 18 FlyerTalk has over 20,000 threads on the site, with up to tens of thousands of views each. Starwood guests are visiting the forum and finding answers, while Starwood collects market intelligence.

19. Microsoft’s MVP Experts Support –and Advocate 19 Microsoft’s MVP programs nominates helpful customers and professionals once a year. This unpaid army supports other customers –and becomes community advocates * Disclosure: Microsoft is an Altimeter Client, learn more about our disclosure policy at http://www.altimetergroup.com/disclosure

20. Innovate with customer feedback 20

21. Gauging interest for Bacon Salt 21 Makers of BaconSalt reached out to fans of bacon on MySpace to gauge interest in their new product. Baconaisse and bacon-flavored sunflower seeds were later created after listening to customer requests.

22. Fiat gathers product and market intelligence 22 Contributors submit ideas, and can include pictures and embed videos. Fiat gets valuable ideas for features and design, and marketing and advertising.

23. P&G used ratings & reviews to improve 23

24. Dell innovates across the organization 24 Use new listening platforms, identify in-house and external experts, and know and influence key people

25. What to do first

26. #1 Start small, start now 26 At the least, listen to learn Pick a goal

27. Where to start? Align social with strategic goals 27 Examine your 2010 goals Pick one where social can have an impact

28. 28 #2 Understand the value What’s the value of a fan or follower? 16,965 followers +4 million fans

30. Size of their networks

31. Percent of referred people who purchase

32. Value of purchases

33. Percent that provide support

34. Frequency and value of the support+ Value of ideas

35. Find more fans with large networks Encourage fans to make more referrals Make decisions with metrics 30

36. #3 Prepare for new workflows Social technologies will disrupt traditional organization structures

37. Organize for different types of openness 32

38. #4 Practice Open Leadership 33 When people get what they need from each other Have the confidence to let go and still inspire results

39. 34 Open Leadership Having the confidence and humility to give up the need to be in control, while inspiring commit-ment from people to accomplish goals.

40. 10 elements of openness 35

41. Social + open = competitive advantage 36 +2,200 Best Buy employees answer questions sent to @twelpforce

42. Plan to fail well – Wal-Mart case study 37

43. Buyer blog hit the right note 38

44. Build trust and manage risk 39 The Sandbox Covenant

45. Like any relationship, the best ones are best on built on listening and understanding. Pick one goal and master that, then layer on more. When choosing a social strategy goal, align it with your business goals and those of your customers. Benchmark your progress based upon your business goals, not “engagement” data. Change your mindset: letting go will yield more results. Summary 40

46. 41 41 Thank you Charlene Li charlene@altimetergroup.com blog.altimetergroup.com Twitter: charleneli Jeremiah Owyang jeremiah@altimetergroup.com web-strategist.com/blog Twitter: jowyang

47. 42 About Us Altimeter Group is a strategy 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.