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October 4, 2012 Social Media & The Future of Quality.

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Presentation on theme: "October 4, 2012 Social Media & The Future of Quality."— Presentation transcript:

1 October 4, 2012 Social Media & The Future of Quality

2 2011 Future of Quality Study Key Forces – Global Responsibility – Consumer Awareness – Globalization – Increasing Rate of Change – Workforce of the Future – Aging Population – 21 st Century Quality – Innovation 2

3 What is Social Media? 3


5 Global Responsibility 5

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8 Consumer Awareness 8

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10 Globalization Social networking reached more than 60% of worlds 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 Chinas social networks may be even larger than Facebook 10

11 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 11


13 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. 13

14 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 2 nd 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 14

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16 Increasing Rate of Change 16 An explosion of Channels, Interactions and Touchpoints

17 Increasing Rate of Change 17

18 Increasing Rate of Change 18 PlanDoCheckAct

19 19 Workforce of the Future

20 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 20

21 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 21

22 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 22

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26 Aging Population Mayo Clinic Center for Social Media – Connecting healthcare professionals, patients and hospitals – Broader & deeper connections – Just rolled out mobile app 26

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28 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 gather a critical mass of patients to learn more about this disease," says Sharonne Hayes, a Mayo cardiologist who is leading the project. 28


30 21 st 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 30

31 21 st 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 31

32 21 st 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 32

33 21 st Century Quality 33 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 thats an incredible brand builder. ~Marty St. George, Jet Blue, Sr. VP, Marketing

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35 Innovation Power to the People! Consumers are driving innovation – If you are listening – If you arent listening, someone else might be – If you arent listening, consumer might do it themselves Mass market >> a mass of niches Market fragmentation 35

36 Innovation 36

37 Innovation 37

38 Innovation 38

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40 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 40

41 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 41

42 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 isnt $$ but meaningful engagement, participation and value creation. 42

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44 Social Media & The Future of Quality No choice IF engage in social media, HOW – What problem do you need to solve? – Dont do it if it doesnt 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? 44

45 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 45

46 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 Unisys on the Consumerization of IT 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) 46

47 Thank you! Email: Twitter: @karenmaskell LinkedIn:

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