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Stanford Breakfast: Creating Winning Social Media Strategies

Presentation by Charlene Li at the Stanford Breakfast Briefing Series, Wednesday, September 9, 2009

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Stanford Breakfast: Creating Winning Social Media Strategies

  1. Creating Winning Social Media Strategies<br />Charlene Li<br />Altimeter Group<br />September 9, 2009<br />For a copy of slides, send an email to info@altimetergroup.com<br />
  2. What engagement often looks like today<br />2<br />
  3. Meet Dave Carroll<br />Source: davecarrollmusic.com<br />
  4. Welcome to the Groundswell<br />5<br />When people get what they need from each other<br />A power shift, catalyzed by social technologies<br />
  5. Technologies can be confusing<br />Source: Wordle.net<br />
  6. It’s about the relationship<br />
  7. Focus on relationships, not technologies<br />What kind of relationship do you want?<br />Transactional<br />Occasional<br />Impersonal<br />Short-term<br />Passionate<br />Constant<br />Intimate<br />Loyal<br />
  8. Goals define your strategy<br />
  9. Always start with Learn<br />
  10. Learn with monitoring tools<br />
  11. Radian6 enables learning organizations<br />
  12. How Oracle encouraged feedback<br />13<br />
  13. Dialog with your community<br />
  14. The Engagement Pyramid<br />
  15. HP actively encourages sharing<br />
  16. At Southwest, a planner talks<br />Post received 98 comments over 10 days<br />In the future, everyone is a marketer<br />
  17. Driving sales with Twitter<br />
  18. Help your members support each other<br />
  19. Comcast provides support via Twitter<br />
  20. Goals define your strategy<br />
  21. Starbucks innovates across the organization<br />
  22. Getting started<br />What’s stopping you?<br />“We don’t have the time, money, or people.”<br />“People will abuse it.”<br />“Our boards/volunteers are short-term focused.”<br />“IT/Legal won’t let us.”<br />“I’m afraid of losing control.”<br />
  23. #1 Start small, start now<br />Audience<br />Goal<br />Revolutionary<br />
  24. Deal with different mindsets<br />Find the “moments of truth” and “moments of crisis” for each mindset<br />
  25. Wal-mart failed many, many times before they figured it out<br />
  26. #2 Measure the right things<br />Your goals determine your metrics<br />Use the same metrics as your strategic goals<br />
  27. Example “micro” metrics<br />
  28. Higher order metrics to consider<br />Net Promoter Score<br />How likely are you to recommend this to someone you know?<br />Lifetime Value<br />Lifetime revenue<br />Cost of acquisition<br />Cost of retention<br />Customer referral value (CRV)<br />
  29. #3 Give up the need to be in control<br />Photo: Kantor, http://www.flickr.com/photos/kantor<br />
  30. Deciding how open to be<br />31<br />
  31. How to give up control and be in command<br />The Sandbox Covenant<br />
  32. The Red Cross handbook/policies help keep order<br />http://sites.google.com/site/wharman/social-media-strategy-handbook<br />
  33. Summary<br />Focus on the relationships, not the technologies<br />Start by learning from the conversations<br />Prepare to let go …<br />… of the control you never had<br />
  34. Thank You<br />Charlene LiAltimeter Group<br />charlene@altimetergroup.com<br />blog.altimetergroup.com<br />Twitter: @charleneli<br />For slides, send an email to<br />info@altimetergroup.com<br />35<br />Copyright © 2009 Altimeter Group<br />

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