Social Media Revolution And Evolution

Social Media Revolution And Evolution

Charlene LiAltimeter GroupApril 27, 2011Twitter: @charleneliEmail: charlene@altimetergroup.com

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How time flies3

• Facebook Platform

• May 2007

• Facebook Connect

• July 2008

• Iphone App Store

• July 2008

• Nexus One

Android

• January 2010

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Past: Coherent Strategies

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It’s about RELATIONSHIPS

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Four goals define your Social Strategy

Learn

Dialog

Support

Innovate

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Allow all employees to Learn9

What would happen if every employee could

learn from customers?

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How DellOutlet drives sales with Dialog

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Support can be strategic11

Starbucks involved 50 Peopleto drive Innovation

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Actio: Create a Culture of Sharing13

Present: Rethinking Leadership

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How to give up CONTROL

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But still be inCOMMAND

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Open Leadership16

Having the confidence and humility to give up the need to be in control,while inspiring commitment from people to accomplish goals

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Traits of Open Leaders17

Authenticity Transparency

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Transparency as an imperative18

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How Best Buy created Open Leaders

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Salesforce.com redefines leaders

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Designated the top 25 users as “Chatterati”

and invited to leadership offsite

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“You can imagine the Chatterati creating as much value as an SVP in the organization by sharing their institutional knowledge and expertise - and we should look at compensation structures with that in mind.”

- Marc Benioff, CEO of Salesforce.com

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No relationships are perfect

Google’s mantra: “Fail fast, fail

smart”

Action: Prepare for Failure

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Create

Sandbox

Covenants

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Future: Building Resilience

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Identify and prioritizing disruptions that matter

User Experience•Is it easy for people to use?

•Does it enable people to connect in new ways?

Business Model•Does it tap new revenue streams?

•Is it done at a lower cost?

Ecosystem Value•Does it change the flow of value?

•Does it shift power from one player to another?

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“How personal relationships, individual opinions, powerful storytelling and social capital are helping brands…become more believable.”

1) Likenomics (credit to Rohit Bhargava)

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Understand the supply, demand, and thus, value of Likes as social currency

See http://bit.ly/rohit-likenomics for Rohit’s take

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Likenomics evaluation29

User experience impact - moderate• People with high social currency will enjoy

benefits, richer experiences, receive psychic income.

• People with low social currency will find ways to get it.

Business model impact – moderate• New economics create opportunity for people

who understand Likenomics to leverage gas.• The cost of accessing social currency will

increase, and raise barriers to entry. Ecosystem value impact – none

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2) Social Search – Beyond Friends to Interests

Social sharing rises as a search ranking signal, esp in the enterprise

Create a social content hub to gain traction

Use microformats to highlight granularity (e.g. hProduct & hReview)

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Social Search evaluation31

User experience impact - Moderate• Search becomes more useful, relevant to people.

Business model impact – Moderate• SEO takes on a different dimension, rewards

companies with social currency, personalized experiences.

Ecosystem value impact – Moderate• New power brokers are social data/profile

players who capture activity data and profiles.• Google has little of either.

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Social monitoring merges with Web analytics• HOT: Omniture, Coremetrics/IBM, Webtrends

Technology like Hadoop makes it easy for companies to tap “Big Data”• E.g. New York Times making its archives public• Twitter archived by Library of Congress• Facebook Cassandra, Amazon Dynamo, Google

BigTable Data visualization tools make it easy to

digest Balancing privacy and personalization

3) Big Data32

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Big Data evaluation33

User experience impact - Low• Most users won’t directly experience Big Data.

Business model impact – High• New businesses and initiatives can be started at

very low cost. Ecosystem value impact – Moderate

• Owners of Big Data repositories can assert control, demand payments for access.

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4) Game-ification

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TurboTax used “games” to encourage sharing and support

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Social design can enter training, collaboration, support, hiring

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Gamification evaluation36

User experience impact – High• Experiences get richer, more engaging

Business model impact – Moderate• Work gets done faster, cheaper.• New organizational structures and cultures

emerge. Ecosystem value impact – Low

• Service providers will remain focused, boutique firms.

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5) Curation

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Curation evaluation38

User experience impact – Moderate• User authority established from better curation,

better content is organized well. Business model impact – Moderate

• Easier for businesses to create their content. Ecosystem value impact – Moderate

• Individuals challenge media and brands as authorities – and publishers that siphon off ad dollars.

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User Experience

Business Model

Value Networks

Likenomics Moderate Moderate Low

Social Search

Moderate Moderate Moderate

Big Data Low High Moderate

Enterprise Soc Net

High Moderate Moderate

Gamification

High Moderate Low

Curation Moderate Moderate Moderate

Summary of disruptions39

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Action: Ask the Right Questionsabout Value

“We tend to overvalue the things we

can measure, and undervalue the

things we cannot.”

- John Hayes, CMO of American

Express

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Charlene Li

charlene@altimetergroup.com

charleneli.com/blog

Twitter: charleneli

For slides, send an email to

slides@altimetergroup.com

For more information & to buy the

book

visit open-leadership.com

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