Your Revenue Driver
Kettering: Social Media Truth and Consequences for Executives - August 19, 2009
I've included the PowerPoint for this session as an attachment to this discussion.
Here are the questions that came in at the very beginning:
1. As a business manager how do you manage your investments in social media?
Some will be so obviously beneficial or so burdensome to measure that they will not be managed. For example, will we bother to manage our investments in using google searches or reading wikipedia entries? Probably not. Initially, some of the others will be seen as cost offsets. As we save costs we will have a baseline comparison to measure incremental investments. My recommendation is to "get in the game" by experimenting with functionality. Once you get through the learning curve you should be able to articulate a business case much like other investments. The difference is that you are more likely to be able to measure it because of the tracking and search capabilities of the web.
2. What was the unarticulated need that motivated the creation of social media?
I cannot answer the question as stated because of the word "unarticulated." The articulated need was that we needed something better than more emails, more confusing websites and more blogs to read. We've always relied on trusted friends - we just did not have very good memories about what to trust them on - plus their skills change. Social Media allows us to find an expert who is a friend or via a friend. It also allows us to expand our exoertise on demand and to be found by others (via our mutual friends) when they are seeking our expertise.
3. How do you best learn what people are saying about your field, product, company etc. when you don't have the time to read every blog?
I suggest making it easy for them to communicate directly with you via social media (forums, twitter, etc.)and to be sure to listen and respond respectfully. Also, I have found that "firends" will make sure to let you know what others are saying if they think it is important to you. Having a social media presence makes this easier to do. There are also search functions that let you periodically check.
4. GQ: What will the implications be 2-5 years out?
Slide 9 has some high level ideas. Slides 14-16 get specific. I think the implications will be spectacular for honest business people with a quality product/service and disastrous for those that have been trying to "win" by focusing primarily on the perception of having a quality product/service.
5. How would you use social media to launch a referral partner program?
I would use Twitter to communicate brand.
I would use LinkedIn to establish relationship with potential partners.
I would use Ning (fish farm) to cultivate and sustain communication and relationship.
None of these methods would be exclusive or eliminate a need to deliver a product/service that is worthy of a referral.
6. How do I guarantee that I can get a job using social media?
Approach the CEO (or hiring manager) via phone, email and/or direct letter (in that sequence) and articulate the specific value (no generalizations please) that you can prove that you will create if employed. Back it up with solid information that you have verified about the employer's needs and supply references that the CEO (or hiring manager) already has a relationship with. You may need to do a fair amount of research to find these references. But,if you are as talented as you believe and you have cultivated your social network then this should be achieveable.
7. How do I select the best social media tool given the wave of adoption and the long tail of decline?
It doesn't matter now. Just get in the game. In the long run the functionality differences will blur. Twitter may no longer exist as a company.Ning may get purchased by someone larger. Other private companies will come and go. Remember when spreadsheets were new to the PC. We had lots of choices. Does anyone lament their first choice of spreadsheet?
8. What do you think social media will look like in 3-5 years?
Every website will be social (i.e. lots of user developed content.) Social media will also be blended with traditional face-to-face interactions. Today it is "rude" to be emailing or checking voicemail in the middle of a meeting. In 3-5 years we will be using our laptops in meetings to communicate with others in same meeting and with those that chose not to attend. You may wish to watch the video on this site - Twitter in the classroom (Univ of Texas.)
Here are the questions that came to me on business cards (or napkins:)
9. What is the most common use of social media inside a company/not involving customers?
Recruting, employee onboarding and screening of potential employees is the obvious answer. Internal communications via wikis and online "suggestion" boxes is emerging. I think that Yammer (an internal version of Twitter) and instant messaging to "find internal experts" will be more common before long. It provides a solution to the question - "We are a big company -someone must have solved this problem before - I wonder if we can find them?"
I10. Why do social sites require "members" to register? It turns folks off.
It is an option for the site designer so it may not be required. Many sites require you to register in case you want to make comments. This is a form of security,integrity, professionalism and courtesy. Do you think we would be more mindful of our driving habits if our personal names were prominently displayed on our vehicles?
11. How should you react to negative comments on Social Media?
Promptly and honestly. If you messed up - admit it and fix it. If it is an unfair then be respectful but honestly state your opinion. Don't be defensive or political.
12. Who has the best example of internal social media guidelines?
Here's one that's been recognized as pretty good: http://www.ibm.com/blogs/zz/en/guidelines.html
Most of the technology companies are very open about this. A google search on "social media guidelines" provides many good examples.
13. How did you ever expect to make money with this and why did you ruin my life with it? (submitted on a napkin - so it might have been tongue in cheek)
Well,some said that it helped our President get elected. I could not imagine hiring anyone or buying services from anyone without validating my decision via social media.
The game has changed. It is moving away form corporations using media to create an image. Consumers are using social media to make and validate decisions. The best way to sell with social media is not to sell with social media.
Thank you, please call or email or make comments here!
Paul - pault@ifivealliances.com 404-252-8330
Here are the questions that came in at the very beginning:
1. As a business manager how do you manage your investments in social media?
Some will be so obviously beneficial or so burdensome to measure that they will not be managed. For example, will we bother to manage our investments in using google searches or reading wikipedia entries? Probably not. Initially, some of the others will be seen as cost offsets. As we save costs we will have a baseline comparison to measure incremental investments. My recommendation is to "get in the game" by experimenting with functionality. Once you get through the learning curve you should be able to articulate a business case much like other investments. The difference is that you are more likely to be able to measure it because of the tracking and search capabilities of the web.
2. What was the unarticulated need that motivated the creation of social media?
I cannot answer the question as stated because of the word "unarticulated." The articulated need was that we needed something better than more emails, more confusing websites and more blogs to read. We've always relied on trusted friends - we just did not have very good memories about what to trust them on - plus their skills change. Social Media allows us to find an expert who is a friend or via a friend. It also allows us to expand our exoertise on demand and to be found by others (via our mutual friends) when they are seeking our expertise.
3. How do you best learn what people are saying about your field, product, company etc. when you don't have the time to read every blog?
I suggest making it easy for them to communicate directly with you via social media (forums, twitter, etc.)and to be sure to listen and respond respectfully. Also, I have found that "firends" will make sure to let you know what others are saying if they think it is important to you. Having a social media presence makes this easier to do. There are also search functions that let you periodically check.
4. GQ: What will the implications be 2-5 years out?
Slide 9 has some high level ideas. Slides 14-16 get specific. I think the implications will be spectacular for honest business people with a quality product/service and disastrous for those that have been trying to "win" by focusing primarily on the perception of having a quality product/service.
5. How would you use social media to launch a referral partner program?
I would use Twitter to communicate brand.
I would use LinkedIn to establish relationship with potential partners.
I would use Ning (fish farm) to cultivate and sustain communication and relationship.
None of these methods would be exclusive or eliminate a need to deliver a product/service that is worthy of a referral.
6. How do I guarantee that I can get a job using social media?
Approach the CEO (or hiring manager) via phone, email and/or direct letter (in that sequence) and articulate the specific value (no generalizations please) that you can prove that you will create if employed. Back it up with solid information that you have verified about the employer's needs and supply references that the CEO (or hiring manager) already has a relationship with. You may need to do a fair amount of research to find these references. But,if you are as talented as you believe and you have cultivated your social network then this should be achieveable.
7. How do I select the best social media tool given the wave of adoption and the long tail of decline?
It doesn't matter now. Just get in the game. In the long run the functionality differences will blur. Twitter may no longer exist as a company.Ning may get purchased by someone larger. Other private companies will come and go. Remember when spreadsheets were new to the PC. We had lots of choices. Does anyone lament their first choice of spreadsheet?
8. What do you think social media will look like in 3-5 years?
Every website will be social (i.e. lots of user developed content.) Social media will also be blended with traditional face-to-face interactions. Today it is "rude" to be emailing or checking voicemail in the middle of a meeting. In 3-5 years we will be using our laptops in meetings to communicate with others in same meeting and with those that chose not to attend. You may wish to watch the video on this site - Twitter in the classroom (Univ of Texas.)
Here are the questions that came to me on business cards (or napkins:)
9. What is the most common use of social media inside a company/not involving customers?
Recruting, employee onboarding and screening of potential employees is the obvious answer. Internal communications via wikis and online "suggestion" boxes is emerging. I think that Yammer (an internal version of Twitter) and instant messaging to "find internal experts" will be more common before long. It provides a solution to the question - "We are a big company -someone must have solved this problem before - I wonder if we can find them?"
I10. Why do social sites require "members" to register? It turns folks off.
It is an option for the site designer so it may not be required. Many sites require you to register in case you want to make comments. This is a form of security,integrity, professionalism and courtesy. Do you think we would be more mindful of our driving habits if our personal names were prominently displayed on our vehicles?
11. How should you react to negative comments on Social Media?
Promptly and honestly. If you messed up - admit it and fix it. If it is an unfair then be respectful but honestly state your opinion. Don't be defensive or political.
12. Who has the best example of internal social media guidelines?
Here's one that's been recognized as pretty good: http://www.ibm.com/blogs/zz/en/guidelines.html
Most of the technology companies are very open about this. A google search on "social media guidelines" provides many good examples.
13. How did you ever expect to make money with this and why did you ruin my life with it? (submitted on a napkin - so it might have been tongue in cheek)
Well,some said that it helped our President get elected. I could not imagine hiring anyone or buying services from anyone without validating my decision via social media.
The game has changed. It is moving away form corporations using media to create an image. Consumers are using social media to make and validate decisions. The best way to sell with social media is not to sell with social media.
Thank you, please call or email or make comments here!
Paul - pault@ifivealliances.com 404-252-8330
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