october 4, 2012 social media & the future of quality
TRANSCRIPT
October 4, 2012
Social Media & The Future of Quality
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2011 Future of Quality Study
• Key Forces– Global Responsibility– Consumer Awareness– Globalization– Increasing Rate of Change– Workforce of the Future– Aging Population– 21st Century Quality– Innovation
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What is Social Media?
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GLOBAL RESPONSIBILITY
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Global Responsibility
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Consumer Awareness
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Globalization
• Social networking reached more than 60% of world’s online population– more than 1 billion global users– Not just Facebook
• Global social networking revenues to reach $12.6 billion by 2016– 121% increase– Emerging markets & developed markets
• China’s social networks may be even larger than Facebook
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Globalization
• Much more aware of and in tune with changes happening around the world– Disasters tracked and disseminated more quickly– Japan earthquake• Mobile phones silenced because of a spike in demand.• Facebook and Twitter became the best link to worried
family members .
– More than 9000 earthquake-related videos and 7000 tsunami-related videos in the first day
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INCREASING RATE OF CHANGE
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Increasing Rate of Change
• In less than 3 years social media became the most popular activity on the Web– 7.6% of time online checking email– 23% of time online blogs & social networking– 4 out of 5 active internet users visit social
networks & blogs– More than 1.5 billion consumers around the globe
have an account on a social networking site– 1 in 5 hours spent online are on social networks.
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Increasing Rate of Change
• Mobile• Mass customization of user experience• 40% of social media users access social media from
phone – and growing!– Social networking apps are 2nd most valued phone
feature– Nearly 86 million Americans now shop on their
smartphones– 1/3 of users would rather give up sex than mobile
phone
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Increasing Rate of Change
An explosion of Channels, Interactions and Touchpoints
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Increasing Rate of Change
Plan
Do
Check
Act
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Workforce of the Future
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Workforce of the Future
• Social media literacy is fast becoming a necessary skill for the workforce of the future.
• Knowing what to share and how to share will be a critical skill for the 2020 workplace. – Business as usual? At your own peril!– You should be compelled to become part of the
conversation– People want to hear from you– Start by listening
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Workforce of the Future
• Increased productivity – Elimination of Multiple Individual Redundancies
• Leverage the work / research done by others• Capture time – redistribute
– Time with family– Betterment of society
– 28% of day answering, writing or responding to email– 15% to 35% of each day searching for the right
information • $2, 500 per employee per year• 1000 employees = $2.5M per year
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Workforce of the Future
– Plus costs of duplicating information that already exists• $5k per employee per year• 1000 employees = $5M per year
– Opportunity Cost of NOT working on innovation, process improvement, customer experience???
– Conservative estimate: 20-25% improvement using social technologies
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AGING POPULATION
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Aging Population
• Mayo Clinic Center for Social Media– Connecting healthcare professionals, patients and
hospitals – Broader & deeper connections– Just rolled out mobile app
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Aging Population
• Spontaneous Coronary Artery Dissection– Rare disease with high mortality rate– Patients connected online to discuss disease– Persuaded researchers to study disease– The social network "is a catalyst and it allows
us...to gather a critical mass of patients to learn more about this disease," says Sharonne Hayes, a Mayo cardiologist who is leading the project.
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21ST CENTURY QUALITY
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21st Century Quality
“We have to strike the right balance between being in touch and being in control. The irony is the more in control we are, the more out of touch we become.” Procter & Gamble CEO Alan George Lafley
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21st Century Quality
• Control impedes innovation• Balance with security & privacy issues• People driven revolution enabled by
technology• Products & services will find us via our social
networks• Need to allow end-user to discover what they
can do with the technology
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21st Century Quality
• Growing Focus on Enhancing Customer Experience– 86% of consumers would pay more for a better customer experience.*– 89% of consumers began doing business with a competitor following a
poor customer experience.*• Customer Experience Leaders outperform by 22.5% while
laggards underperform by 46.3%.^• A study by Bain & Co. found that customers who engage with
companies over social media spend 20% to 40% more money with those companies than other customers.
• Customer Experience is the one thing that is nearly impossible to duplicate.
*According to a 2011 study by RightNow^Watermark Consulting & Forrester Research
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21st Century Quality“Our ability to listen to our customers in social media and to learn from them and have a one-to-one communication with them — we think that’s an incredible brand builder.”~Marty St. George, Jet Blue, Sr. VP, Marketing
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Innovation
• Power to the People!• Consumers are driving innovation– If you are listening– If you aren’t listening, someone else might be– If you aren’t listening, consumer might do it
themselves• Mass market >> a mass of niches• Market fragmentation
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Innovation
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Innovation
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Innovation
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Social Media & The Future of Quality
• Social media is a living & breathing thing that touches every aspect of your organization– It is wherever and however your customer
chooses to reach out to you– Customers of today & tomorrow– Employees
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Social Media & The Future of Quality
• Number of US & European companies using social media is constant from 2010 to 2011
• But interactivity on social media has increased across all regions– Better sense of how to leverage social media– Dedicated resources to monitor & manage
• Room for improvement– Most still broadcasting and not listening, not
focused on engagement
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Social Media & The Future of Quality
ENGAGEMENTdb Study:– Ranking of the top 100 global brands– The most valuable brands in the world are
experiencing a direct correlation between top financial performance and deep social media engagement.
– But the currency in social media isn’t $$ but meaningful engagement, participation and value creation.
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Social Media & The Future of Quality
• No choice IF engage in social media, HOW– What problem do you need to solve?– Don’t do it if it doesn’t add value– No one right way to participate in social media– Check in with Stakeholders• Where are they communicating?• What is important to them?• Where do they go for information?• What do you want them to know?
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Social Media & The Future of Quality
“How can you squander even one more day not taking advantage of the greatest shifts of our generation? How dare you settle for less when the world has made it so easy for you to be remarkable?” ~ Seth Godin
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Credits / Interesting Reading• ASQ 2011 Future of Quality Study: Emergence
• HBR Blog - Increase Productivity with Social Media
• IDC Report on The High Prices of NOT Finding Information
• Unisys on the Consumerization of IT - 2011 Unisys-Sponsored Consumerization of IT Research
• B2B Social Media on the Rise
• Nielsen Social Media Report
• How Dell Really Listens to Its Customers
• Global Social Networking Revenue to Double by 2016
• Mayo Clinic for Social Media
• When Patients Band Together
• BursonMarsteller 2011 Global Social Media Checkup
• How social technologies contribute to a better customer experience
• Right Now 2011 Customer Experience Impact Report
• HBR on Social Media Productivity
• Can social media boost employee productivity? (Video)
