social media revolution and evolution
DESCRIPTION
Discussion about the journey of social media over the past 10 years, since I started covering it. A look at the past, present, and future of disruptive technology trends. "Social Media Revolution and Evolution", presentation to Direct Marketing Association, Northern California Chapter, April 27, 2011TRANSCRIPT
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Social Media Revolution And Evolution
Charlene LiAltimeter GroupApril 27, 2011Twitter: @charleneliEmail: [email protected]
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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
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Starbucks involved 50 Peopleto drive Innovation
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Actio: Create a Culture of Sharing13
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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
charleneli.com/blog
Twitter: charleneli
For slides, send an email to
For more information & to buy the
book
visit open-leadership.com
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