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Social networks will become ubiquitous like air, with universal sign-in across platforms. Social media will also move into enterprise applications and devices like TV. To be successful, companies should focus on relationships not technologies, measure engagement and lifetime value, create new social-enabled workflows, be ready to give up some control to customers, and fail fast and smart through risk-taking and learning from mistakes. The future of social will be defined by openness, context awareness, and asynchronous and real-time conversation around shared interests.

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The Future Of Social NetworksCharlene LiAltimeter GroupJanuary 12, 20101San Francisco AMA
2AgendaHow to think about the futureWhat you should do about it
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Social networks will be like air.
Universal sign-in5
6Facebook Connect extendsSee what friends read/comment on
Import friends into the experience7
Social moves into enterprise appsSalesforce ChatterLinkedIn in Lotus Notes8
Share updates back and forth9
Social on TV and television sets10Conversation around news eventsVerizon FiOS integrates Facebook & Twitter
Mobile making in-roads11And sends an adFoursquare “gestures” to friendsGowalla gestures to everyone
Using social context to create relevance12PlaceDataIdeasItemsLocation & ObjectsAsynchronousReal-timeIntentionTimeFacebookOpenSocialPeople
13
Socialgraphics14DemographicGeographicPsychographicBehavioralSocialgraphics
Engagement Pyramid15
16There’s now a culture of sharing
Define Goals by Objective17
How To Prepare
#1 Focus on relationships, not technologiesWhat kind of relationship do you want?TransactionalOccasionalImpersonalShort-termPassionateConstantIntimateLoyal
Obama redefined political campaigns20
#2 Measure the right thingsYour goals determine your metricsUse the same metrics as your strategic goals
Example “micro” metrics
Measuring lifetime value in a new way23 Percent that refer
Size of their networks
Percent of referred people who purchase
Value of purchases+ Value of purchases- Cost of acquisition+ Value of new customers from referrals+ Value of insights+ Value of support+ Value of ideas= Customer lifetime value Percent that provide support
Frequency and value of the support#3 Create new workflowsSocial technologies will disrupt traditional organization structures
Social pressures traditional orgs
26Ties these comments back to customers
27#4 Be Ready To Give Up Control
Openness requires accountabilityThe Sandbox Covenant28
The Red Cross handbook/policies help keep orderhttp://sites.google.com/site/wharman/social-media-strategy-handbook29
#5 Fail fast, fail smart30Identify the top 5-10 worst case scenarios.Develop mitigation and contingency plans.Encourage risk taking and forgive failures.
Wal-mart failed many, many times31

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Editor's Notes

  • #13: The more you fill in, the more context to your customers.
  • #20: The key is to focus on the relationships and connections that are enabled, not the technologies. Think about the kind of relationship that you want. Do you want it to be short term and transaction, or long-term and intimate?To help you think about this, I have a simple idea.