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What if a presentation was delivered in 140-character chunks? This "presentweetion" is a revised version of my Trust Drives Transactions presentation. The Twitter feed for the presentation can also be found at http://twitter.com/PeopleBuyTrust HYPOTHESIS: I've seen a million presentations on social media: where it's going, how we've become more connected and digital, why you need to be on Twitter, etc., etc. But none have really pointed to the Reason Why social media and social marketing have such wide adoption: because they demonstrate, build and spread TRUST. Trust is faltering across the board as we run into myriad social challenges. Can my school district truly keep my teenage daughter safe? Will this cop go completely over the top on me for jaywalking? Will my boss protect my family's income, or kick me to the curb to cut overhead? Will my doctor truly know if this is swine flu, or misdiagnose it? As massive pillars of trust begin to shake, those of us in the business of Selling Stuff need to recognize that trust is the essential driver of all business transactions, and in a world where trust is getting beaten up, our ability to be trusted is critical to keeping the doors open, let alone growing revenue. Marketers who may need help selling social channels in to a management team may find the premise as well as the statistics helpful. Fantastic statistics from the incredibly smart folks at Edelman for their work in studying trust globally. Respect. I am always open to feedback, suggestions, etc. Contact me via Slideshare or Twitter (@weave).
Citation preview
TRUST DRIVES TRANSACTIONS:
A presentweetion for the time-starved
Internet Marketing Conference Vancouver
September 17, 2009
ERIC WEAVER
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2:30 PM Sep 17 from PowerPoint
Excess hype, overshare,pokes, "how well do you knowme" quizzes and stalkers. Whywould I use this for biz?#annoying
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2:30 PM Sep 17 from PowerPoint
Client ?’s: is this a fad? Do socialmktg e orts actually work? Theconvo seems so shallow. Who's gottime to manage all this? Srsly??
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Let’s look at the business of
promoting your business.less than a minute ago - Comment - Like
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2:32 PM Sep 17 from PowerPoint
Outbound mktg is a $1TTmachine. Each niche = afull industry. We'rerewarded for storytelling/intrusion/repetition.Unchanged in 150 yrs.
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2:33 PM Sep 17 from TwitterBerry
Our customers, however, have changed. Maybe a lot, LOLZ.
2:34 PM Sep 17 from PowerPoint
Where'd they go? Consumers fled to social
netwks where they could connect w/like minds on
interesting subjects, free from commercialism.
82:35 PM Sep 17 from PowerPoint
For marketers, social netwkslooked like a smorgasbord ofopportune audiences.
OOH YUMMEH!
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September 17 at 2:36pm - Comment - Like - See Wall-to-Wall
What’d we get? Same ol’ same ol’.
“Look over here! A chance to WIN!” #yawn
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2:38 PM Sep 17 fromPowerPoint
Traditional ads insocial netwks arelike #amwaysalesmen showingup at a cocktailparty. Not theright context,kids. #fail
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2:39 PM Sep 17 fromPowerPoint
The waningOutbound Voice:RT @TNSMediaIntelligence US adspend plunges14.2%; only onlineposts growth.
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Four major cultural changes are killing the
outbound voice and spurring dialogue.less than a minute ago - Comment - Like
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2:42 PM Sep 17 from Edelman Trust Barometer
CHANGE #1: trust has fallen o a cli . (RT @edelman)
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RT @edelman: “banks, automotives, media andinsurance hit hardest in US.” Wonder abt
schools, cops, doctors (societal pillars)2:43 PM Sep 17 from from Edelman Trust Barometer
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CHANGE #2: time starvation,micro-niche interests,endlessly-customizablemedia options, expectingfree information2:44 PM Sep 17 from PowerPoint
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#SEARCH: people, products,info, media I care abt;#EXPRESSION via blogs,opinion sites, ratings;#SHARING what we like, orhateAbout a minute ago - Comment - Like
Generally, consumers don’tneed advertising, marketingor PR (#TimeToRethink)
2:46 PM Sep 17 from PowerPoint
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CHANGE #3:
the new cacophony.
2:47 PM Sep 17 from culture
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2:48 PM Sep 17 from PowerPoint
CHANGE #4: people turn to PEERS whenrisk is high, more choices to review, lesstime for research. #remarkable
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2:48 PM Sep 17 from 2009 Edelman Trust Barometer
Most credible ppl giving me company/product info?47% believe in PEERS. 13% trust marketers.#wakeupcall #outboundvoice
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2:49 PM Sep 17 from 2008 Edelman Trust Barometer
Trust isn’t just influential, it’s widely shared. 56% age 35-64,63% 25-34 share trust/distrust on the web.
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2:49 PM Sep 17 from 2009Edelman Trust Barometer
Trust drives preference:91% choose to buy fromcompanies they trust,77% refuse thedistrusted. Bottom line:TRUST DRIVESTRANSACTIONS.
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2:50 PM Sep 17 from PowerPoint
Growing revenue not abt clever, elegant, loud. Not abttools! Nor Ashton/Oprah. Not abt Social Media change.IT’S ABT PPL TRUSTING YOU.
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2:50 PM Sep 17 from Edelman Trust Barometer
How much more would u trust a company for takingaction to increase communication and transparency?Positively impact consumers? #proof
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So build a trust strategy. Consider where you are
distrusted. Decide where you’d like to be. Then,
steps to get there. Then execute.less than a minute ago - Comment - Like
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2:51 PM Sep 17 from PowerPoint
MINIMIZE TRUST KILLERS: Don’t interrupt search. Befound/referred. Don’t talk abt ur value, demonstrate it.
2:51 PM Sep 17 from PowerPoint
REPRESENT! Demonstrate u know ur stu , a vision forsector/mkt, that others took a chance & benefitted,that ur ethical, easy, trustworthy.
2:52 PM Sep 17 from PowerPoint
EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU.Give customers a voice. Amplify their words. Makevalue sharing e ortless.
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2:53 PM Sep 17 from PowerPoint
Look for and target urorganization’s trust soft-spots. Rebuild trust there.Demonstrate. Be real. Takefodder from conspiracytheorists.
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2:52 PM Sep 17 from PowerPoint
THOUGHT STARTERS, BLOGGING: CEO media/invstrrelations; industry trends/insights; legislation impacts
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2:53 PM Sep 17 from PowerPoint
THOUGHT STARTERS, TWITTER (here, now): crisis PR,timely insights, content alerts, community bldg, eventnotices
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2:53 PM Sep 17 from PowerPoint
THOUGHT STARTERS, VIDEO: great for intensivelearning, how-to vids, personality pieces, companystorytelling, humor
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2:53 PM Sep 17 from PowerPoint
THOUGHT STARTERS, AUDIO: great for distractedlearning, storytelling, conversational thought ldrship,testimonials, sensory experiences
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2:54 PM Sep 17 from PowerPoint
THOUGHT STARTERS, WIKIS: great for event planning,product developing, crowdsourcing ideas, sharedlearnings, distributed wk-in-progress
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2:54 PM Sep 17 from PowerPoint
THOUGHT STARTERS, WIDGETS/APPS: get your contentinto more places, allow engagement w/o leavingvenue, aggregating valuable content
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2:54 PM Sep 17 from PowerPoint
THOUGHT STARTERS, SOCIAL VENUES: brandawareness, community/CSR discussions, loyaltyprograms, consumer feedbk/trials/testing
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2:54 PM Sep 17 from PowerPoint
THOUGHT STARTERS, SOCIAL VENUES: brandawareness, community/CSR discussions, loyaltyprograms, consumer feedbk/trials/testing
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2:55 PM Sep 17 from PowerPoint
BLOGGER ENGAGEMENT: set up engagementguardrails. When a post is positive, do youcompliment, agree or ignore?
2:55 PM Sep 17 from PowerPoint
Negative posts: is it a rant, a joke or satire? Are therefactual errors to correct? Do you fix a bad customerexperience?
2:55 PM Sep 17 from PowerPoint
No matter what: be transparent, including links, bepositive/strong, spellcheck, think abt publicperception, and triage accordingly.
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2:56 PM Sep 17 from PowerPoint
CONVERSATION MONITORING: fantastic insights intoconsumer mindset, sentiment, motivation, interestareas, company/product performance
2:56 PM Sep 17 from PowerPoint
Lion’s share of convo monitoring can be automated:blogpulse, Google Blog Search, Technorati,TweetReach, Twendz/TweetFeel
2:56 PM Sep 17 from PowerPoint
Specialized reporting tools can dive into specifics onsentiment, motivation, topic trending (Radian6,Sentimine, MotiveQuest)
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2:57 PM Sep 17 from PowerPoint
BOOMERS = propriety. Trained in formalities, don’to end, guarded means safe, not so great with “random.”Suit & tie = trust.
2:57PM Sep 17 from PowerPoint
GENS X&Y = a nity. Formalities ignored, sharingmeans finding, tech is easy, random is life. Consideryour lens. Suit & tie = distrust.
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2:57 PM Sep 17 from PowerPoint
Trust generated, money happened: blog, FB, YouTube toconnect. Results: 2MM impressions, 2300 new accts,$4MM in new deposits. @YoungFreeAB
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2:58 PM Sep 17 from PowerPoint
FINAL THOUGHTS: SocMed is SO NOT a fad. Googlegave us search. SocMed gave us sharing, connecting.Won’t get taken away.
2:58 PM Sep 17 from PowerPoint
Social Media reflects that we are time-starvedcreatures trying to get our day back, rather than beingshallow. Sharing = finding lk minds.
2:58 PM Sep 17 from PowerPoint
“One more thing for marketers to do”? More likeengaging your market where they prefer to be. How’dthat last trade show budget work out?
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2:59 PM Sep 17 from PowerPoint
RECAP: Rethink your entire marketing approach from aprospective of trust and with a wider lens.
2:59 PM Sep 17 from PowerPoint
Build trust by being found, demonstrating yourknowledge, your vision and your trustworthiness.
2:59 PM Sep 17 from PowerPoint
Finally, use social marketing to leverage the EXISTINGTRUST already established between peers, rather thanbuying new trust.
THANK YOU
slides: slideshare.net/weavepresentweetion: @PeopleBuyTrustme: @weavecompany: tribalddb.ca