What role do corporations play if customers don’t need them? What if the people who used to be their customers get their goods and services from each other? I’d love to answer that at your next event.
That’s exactly the question that our research answers after analyzing 200 of the startups, and interviewing three dozen experts (you can read the full report, right here). Customers are using social media tools, called “sharing websites,” to share products, services, and even money – bypassing the corporate world. What’s the solution? We found a counterintuitive opportunity for today’s innovative companies, that, we believe, they must use to enable their own business functions, business models, and products to be social and, therefore, able to compete in one of the most significant cultural market changes in history.
The above embedded slide deck is from the Vocus marketing and communications conference in DC last week, it’s designed for a 45 minute session.
About the Content
The speech uses the story of Danish King Frederick VII, whom I learned about on last month’s trip to Copenhagen. I was intrigued by his unique dilemma as he saw a revolution coming to his gates, giving him one of two choices: 1) Fight them and, potentially, lose his head, or 2) collaborate with them. We weave in and out of his experience throughout the presentation, as we cover key steps in the presentation: a definition of the trend, real world examples from many verticals B2B and B2C, numbers showing the disruption in terms of dollars, and the causes of this sharing movement. In the meat of the presentation, we focus on the solution, which we call the Collaborative Economy Value Chain, and provide real world examples of what corporations are doing now. To top things off, we’re honest about the many challenges, but we also explain the benefits for companies that are willing to join the collaborative economy.
The appendix has additional data from our research, a glossary, and interviewee citations.
About the Presentation
Many of the slides have animations, which can’t be fully experienced in this SlideShare mode. You may download the full PowerPoint presentation to see the animations. The presentation is open research and, as part of creative commons, may be used with attribution. I’d like to thank the Altimeter research team and designers, as well as RexiMedia for their excellent coaching and visual production. As a former musician, I’ve learned to take preparation seriously, so I choose to work with the best teams during preparation and rehearsals to ensure that I give my audience the best experience possible.
Upcoming Speaking Events and Samples
I’m getting the word out about the Collaborative Economy. I have presented elements of this subject in Copenhagen, London, the District of Columbia, and San Francisco, in addition to individual clients on private calls. I would be delighted to speak at your event.
I’d be pleased to share with your business teams how the evolving Collaborative Economy is moving from sharing of ideas to sharing of goods and services. I am happy to do so either by using the free webinars listed above or appearing live at your conference or private event.
Is Facebook paid, owned or earned? The answer is yes.
Facebook is all. They integrate advertising units along with content created by brands on their Facebook pages, and allow for consumers to share their opinions right in the comments. Sometimes, ads look like social content, and it’s hard to distinguish the difference. At Altimeter, we see this convergence only increasing, and these Venn diagrams will continue to have overlapping circles of paid, owned, and earned.
To meet this converging media types, Altimeter kicked off a research project with Rebecca Lieb (a fantastic speaker in her own right), Jessica Groopman (expert researcher), and yours truly.
We found that companies must now integrate their marketing process, strategy, and tactics so each channel leverages each other. In fact, we’ve identified a few workflows that help marketers, and their agency partners do just that. If you’ve read the report, some of this is a rehash, but I wanted to share the story in the above embedded video of how I like to articulate it while on stage.
So here’s all three components in one location: The report that started it all, videos from a keynote speech to 2,500 marketers at Marketo Summit in SF last month, and all the slides. Wishing you all best in your efforts to converge media.
And yes, turn those phones on when I speak, not off.
What should 2000 marketers know about the future of digital marketing? Thanks to Marketo, I’ve been asked to share recent research from Altimeter Group on how Paid, Owned, and Earned is converging into one single form of media live at their customer event here in San Francisco.
Love to hear your comments, if your brand is already converging Paid, Owned, and Earned, so we can tell your story on your success. A thank you to Jessica Groopman and Rebecca Lieb at Altimeter, who co-authored this research and content with me.
Below is a 15 minute video which encapsulates Altimeter’s themes on the Dynamic Customer Journey and the Sentient World.
I’m really proud to have taken an active role in the first ever LeWeb outside of Paris. This one, which was featured in downtown London across the street from Westminster Abbey was sold out. If you’ve not heard of LeWeb, this is a global Internet conference hosted by Loic and Geraldine Le Meur, a power couple that stem from Paris but are also living in Silicon Valley, this is one of my favorite conferences to connect with brands, technology innovators, investors and friends.
Altimeter was able to play a minor role in suggesting the theme for the event “Faster Than Real Time” which stems off previous LeWebs that focused on the “Real time web”. In this radical state, companies are able to anticipate the needs of their customers by using data, technology, and devices and deliver meaningful experiences before customers even know they need it. I explore two of three of Altimeter’s research themes, the Dynamic Customer Journey, and the Sentient World in my speech, but due to time, did not focus on Adaptive Organization.
In future posts, I’ll share some of the videos from the social business track, in which I co-hosted with Cedric Giorgi, and also, sign up and register for LeWeb Paris, this December, 2012. Thanks to the Altimeter analysts, researchers and partners who helped to shape these research themes, this is a culmination of many people’s work beyond myself.
I’m presenting here at Webcom in Montreal, sharing the State and Future of Social Business.
In fact, I think the Cluetrain as we know it, while right for many years, needs modification to represent how the social web is changing. I took the first three theses of the mainfesto and translated it to represent how I see advertising integrating with social as well as optimization and Social Performance software.
The three trends that I see impacting the social business space include (but are not limited to):
Trend 1: Corporate Websites Reborn. I assert that corporate websites as we know them will be defunct, instead they will dynamically assemble content on the fly, making every page dynamic based on social data.
Trend 2: Social Becomes Automated: Bots among us? Sort of. We’re already seeing the rise of Social Performance Software emerge, and this will enable brands to quickly respond (yet there are risks)
Trend 3: To be Heard, You Will Pay: With every brand using social networks promoting their latest product, the space is getting saturated, as a result, social networks will monetize by making content visible, via ads.
A few days before the hectic 2012 SXSW storm (my analysis here), The Dachis Group hosted the Social Business Summit (catch one in your city) with some of the world’s top brands to discuss social business. Kicking off the day, I shared Altimeter’s research on how advanced companies are scaling their programs –and avoiding programs that will slow them down. A few key points we iterated:
Being prepared in advanced with: the proper policies, teams, roles, and education programs. These are the foundation needed to build a Center of Excellence.
Advanced corporations have enabled their business units to deploy social –once they’ve provided the right training, process, then technology (in that order)
Savvy companies are developing a social support triage process, rather than arbitrarily responding to customers, as it can teach the crowd bad behaviors
Also, if you’ve not heard about the Dachis Group, they’re a management consultant, software, listening, and digital design quasi-hybrid solution provider that’s rolling out interesting programs for large brands. Ping Jeff Dachis to find out more, or interact with him here in the comments, as he’s a reader and commenter.
I’m thrilled to return as a keynote speaker at LeWeb for the third time in a row. While I’ve shared these same findings on social business at conferences in the US, I’m pleased to finally present in EMEA. We found that despite companies running to open social media accounts, internally, companies are ill-prepared. Yes, that’s right, it’s time to return to basics and focus on building a scalable infrastructure –before jumping into adopting social tools.
I’ve embedded both the slides from the keynote as well as the report (original post here) which it’s based off of below, feel free to widely share. Also, I’m thankful for the broader research team which includes Christine Tran and Andrew Jones.
Above: Here’s the 20 minute video. I added it a few days later.
Many years back, my career started out running intranets at Cable and Wireless, Exodus, World Savings and Hitachi Data Systems. We know that external social presence is a reflection of what happens inside of the company, and I’m glad to share and learn from these very bright folks.
The Goal? Turn Knowledge Management into Knowledge Action.
What would you tell 600 marketers from the largest global brands who have European initiatives?
That’s exactly what I was tasked to do here at Bazaarvoice’s Social Commerce Summit in London today. These brands, which are quickly moving into the space, have adopted social technologies that include: ratings, customer discussions, and aggregate that data right on their own corporate website.
While companies are quick to launch a social networking page for their brand, or integrate customer discussions onto product pages, our research has found there are two distinct classes of companies: 1) Those that are building programs that will not scale, forcing them to ever-respond to customers and fall behind internal stakeholder requests. On the other hand, 2) Those that develop scalable programs that involve business formation, enabling the crowd to do the work for you, and under pinning systems that will cascade across the enterprise are better suited to avoid a career in sanitation.
Here’s my slides for today’s keynote, based upon the following three research documents, in which we’ve interviewed and surveyed hundreds of brands, and the vendors who serve them. Read, use and share widely these reports:
The presentation, which comprises this body of research, is available for download (sans registration) below: (Update: I learned you need a slideshare account to download without registering, this is not my requirement, however)