Social Media as Customer-Driven Innovation

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For FEI2010's "Voice of the Customer" Summit

Text of Social Media as Customer-Driven Innovation

1. FEI: Voice of Customer Summit Social Media for Customer Driven Innovation Scott Hirsch VP of Business Development May 3, 2010 2. Agenda About Me! Current State: Social Media As a Tool! Future State: Social Business and Customer Collaboration! The Power of Like and the Rise of Facebook! Social Commerce: A Disruptive Innovation on the Horizon! Questions and Answers! 3. About Me Scott Hirsch VP of Business Development Get Satisfaction scotth@getsatisfaction.com Social CRM is neither social nor CRM discuss The Future Is Social Business 4. Value of Social Media 5. Where I come from 7 years in Non-prot/Public Sector Haas School of Business @ Berkeley -Product Design and Development -Haas Social Venture Competition Adaptive Path User Experience Design Firm - Really skeptical of traditional customer research - The power Contextual inquiry Management Innovation Group Boutique Strategy Firm -Pioneered of internal collaboration tools/process -Early stages of social media 6. The Story of Enterprise 2.0 and Social Media Was Foreseen Many Years Ago "Long-term commitment to new learning and new philosophy is required of any management that seeks Macroforces transformation. The timid and the fainthearted, and the change people that expect quick Relationships results, are doomed to disappointment. - - W. E D WA R D S D E M I N G ! 7. How do you sleep well at night? Honesty Openness Willingness (transparency) 8. Openness, honesty, and willingness (transparency) One Many to Many One 9. Social Media is Not New User Forms Forums are some of the oldest technology on the web 10. Social Media is Not a Destination Frank Eliason Starts responding to support-related tweets under the user name: ComcastCares The innovation here came from the brands willingness to pro-actively reach out to customers with service/support issues 11. Social Media is Not Yours Customers create community around the things that they care about. The obligation is on Companies to claim their space Innovation here is create social media spaces that customers want to engage around. 12. Social Media is Not Just a Channel or Two New platforms will continue to emerge. The trick is knowing how to assess relevance. Innovation here is to know what channels matter to your business not being afraid to engage 13. Above All, Social Media Is Just a Tool The Value is in the Conversation Analogy: The telephone transformed business but the telephone didnt create value. The ability to converse over distance in real-time created value. The telephone was just a tool. Taking it a step further, email transformed business by documenting conversations Social media transforms business by enabling many-to- many conversations between customers and brands. 14. Heres Why You Should Care VOC Conversations Have Value Everywhere Feature Voting Product Advocacy R&D Marketing Crowd-sourced Ideas Social Ads Service / Sales Support Self-serve Set-up 15. Where is the Conversation in Social Media? Reach! Conversational Business Structure! Relevance! Forums! Walled destination! Two-way, but closed! Service / Support! R&D! Blogs! Readers, but good One-to-many Product! SEO! except in comments! Marketing ! Twitter! Followers! Broadcast, not Service / Support! conversation! PR Marketing? ! Facebook! Social Graph of Conversational, but Marketing! People like me! closed to Facebook! Sales! Yelp Locally powerful! Broadcast! Marketing ! Foursquare! Sales! Get Satisfaction innovates by aggregating multiple social media channels into one social platform 16. Social Business is the Next Step Encourage Aggregate Use Across Create Value! Conversation! Knowledge! Disciplines! Get Satisfaction is a platform for: Encouraging conversation in your social web channels: Facebook, Twitter, and on your website. Aggregating the knowledge created by these conversations into one social platform. Facilitating use of customer knowledge across disciplines (service, support, marketing, sales, R&D, etc.). Using this insight to create value both internally and for your customers. Social Business delivers ROI for social media 17. Get Satisfaction Case Study Mint.com Problem Statement Mint was experiencing exponential user growth Product roadmap was aggressive and in need of user input for prioritization Tier 1 support was a user forum with poor search functionality and low adoption Tier 2 support was email backlog sometimes approached 2 weeks Due to nature of support questions, peer-to-peer support was critical for success Encourage Aggregate Use Across Create Value! Conversation! Knowledge! Disciplines! 18. Encourage Conversation Encourage Conversation! Not a forum taxonomy Call to action is very simply ask a question Best Practices Use a conversational, easy-to-navigate medium Forums dont work up to 50% of customers immediately navigate away. 19. Aggregate Aggregate Knowledge Knowledge! Best Practices Aggregate the knowledge created by these conversations into one platform with natural language search. Integrate social knowledge into your system of record (e.g., Salesforce.com, Parature, etc.) 20. Use Across Use Across Disciplines Disciplines! Best Practices Cross-functional involvement in the conversation Providing an official answer when there is one Open-ness and transparency build brand and goodwill (marketing benefit) 21. Create Value Create Value! Best Practices Use a platform that will aggregate even more customer conversation (open, optimized for search engines) Delivers value to marketing (SEO) and service/support as well as to customers by providing answers to questions 22. Lets Talk About Facebook Basic Facebook Stats Facebook is big and getti