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Web 2.0 & Social Media presentation delivered at Rochester AMA
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SOCIAL MEDIA + WEB 2.0 FOR SALES & MARKETINGRochester, NY AMA – April 29,2009
Why are you in business?
“Because the purpose of business is to create a customer, the business
enterprise has two—and only two—basic functions:
marketing and innovation. Marketing and innovation
produce results; all the rest are costs. Marketing is the
distinguishing, unique function of the business.“
-- Peter Drucker --
After-Event Slides & Resources
The slides and resource links are available electronically after the event:
www.marketingsavant.com/rama
AMA TechnoMarketing Training Serieswww.marketingpower.com/tstechnomarketing
Derived from the AMA’s TechnoMarketing Training Series.
Coming up in :• Orlando, September 29 – 30, 2009
TechnoMarketing is much more than using a few of the newest technology tools to improve your marketing. Real marketers need tools with techniques, strategy with execution and tactics with measurements to ensure accountability. This intensive, interactive two-day seminar will give attendees ample opportunity to apply the specifics of the technologies and trends covered to the realities of their business.
MARKETING IN A DOWNTURN…
It is all about customer intimacy:
People working together in a structured and customer centric way to create customer value, develop relationships and achieve results.
Result
It is not just about the number of conversations.
It is also about your capabilities to convert these conversations into relationships and create loyal customers.
A.G. LafleyCEO, Procter & Gamble
“We have a philosophyand a strategy. When times are tough, you build share.”
Crisis In Mass Marketing 18%: Proportion of TV advertising campaigns generating
positive ROI 54 cents: Average return in sales for every $1 spent on
advertising 256%: The increase in TV advertising costs (CPM) in the
past decade 84%: Proportion of B2B marketing campaigns resulting in
falling sales 100%: The increase needed in advertising spend to add 1-
2% in sales 14%: Proportion of people who trust advertising information 90%: Proportion of people who can skip TV ads who do skip
TV ads 80%: Market share of video recorders with ad skipping
technology in 2008 95%: The failure rate for new product introductions 117: The number of prime time TV spots in 2002 needed to
reach 80% of adult population – up from just 3 in 1965 3000: Number of advertising messages people are exposed
to per day 56%: Proportion of people who avoid buying products from
companies who they think advertise too much 65%: Proportion of people who believe that they are
constantly bombarded with too much advertising 69%: Proportion of people interested in technology or
devices that enable them to skip or block advertising
Sou
rce:
Jus
tin K
irby
& P
aul M
arsd
en (
2006
). C
onne
cted
mar
ketin
g. O
xfor
d, U
K:
But
terw
orth
-Hei
nem
ann.
xix
That Said, We’ve Come a Long Way…
91% say consumer content is the #1 aid to making buying decisions (JC Williams Group)
87% trust a friend’s recommendation over a review by a critic (MarketingSherpa)
Social network users are 3X more likely to trust peer opinions over advertising in purchase decisions (Jupiter Research)
1 word-of-mouth conversation = the impact of 200 TV ads (BuzzAgent)
Social media site traffic doubled in the past year (comScore)
IT buyers trust social media more than any other source (PJA IT Social Media Index)
Where Everything Is Headed
2009 2050?
Digital
Non-Digital
Today
Source: Google1996
63%
62%
31%
72%
26%Forrester (Spring '08)
Advertiser Perceptions (May '08)
MarketingSherpa (Sep '08)
Epsilon* (Sept '08)
MarketingProfs (Oct '08)
% of marketers planning to increase their online ad budget – despite the recession
*63% of (175) CMOs said they had increased their online budgets in the past year
N = 333
N = 1,811
N = 400
N = 175
N = 600
55% of global marketing execsplan to cut spending on traditionalmedia in order to fund increased
online efforts (June 2008)
Over 70% of global marketingexecutives today believe online willdetermine how major campaigns
are planned and executed
Over the past
18 months, ROI for
online has surpassed
that of broadcast!
Marketers Reprioritize Marketing Vehicles
Reevaluate the effectiveness of current vehicles
Shift 10-15% into new media
Conduct a marketing audit, don’t just do guesswork
Source: Marketing Leadership Council - www.mlc.executiveboard.com
360 Digital Marketing World
Online Media
NewsCommunity
sites
Special Interest
EmaileNewsletterseCardseMail
Wikis
FolksonomySocial
Bookmarking
Digital Devices Phones DVR
(Tivo)PDAs Game
ConsolesMicrocasting
VBlogsDigital Radio
WebcastingPodcasting
Syndication
Real Simple Syndication (RSS)
Content Partnerships
ConversationsBlogs
Listservs
Message Boards
Chat Rooms/Events
IM
Text-messaging
Photo Blogs
Viral Content
Web SitesPress Rooms
w/RSSOnline Advertising
Games & Contests
Search
Keyword Marketing
Blog Aggregators
Blog Search Engines
Search Engine Optimization
Manifestos
eAlerts
Citizen Action
Meetups
Source: Ogilvy
The Digital Sales Funnel
Source: InTouch
The Conversational Sales Funnel
be aware
consumer generatedmarketer generated
consider
buy use
form opinion
talk
games
crmsearch
directories
educational marketing
event and sponsorship marketing
wom/ social networks
?
?
???
advertising, PR, publishing
mobile marketingSource: Digital Voodoo
Sales & Marketing 2.0 Strategies
1) Make it ALL Accountable2) Build Your Addressable Customer Base3) Digital Intimacy (stay close to your
customer)4) Start and Keep doing Search
(SEM+SEO+SMO)5) Engender Trust6) Don’t ignore the power of Social Media
1. Digital Accountability
“Marketing executives are seeking accountability and measurable results. Data-driven marketing is an increasingly important component of corporate marketing campaigns.” —Mike Iaccarino, chief executive, Epsilon, in a press release
Even online marketers show room for improvement in accountability. In a Marchex-commissioned survey conducted by Sterling Market Intelligence in October 2008, only 25% of national advertisers said they were measuring ROI for their online marketing campaigns.
Success Metrics
Reach How many hear your message?
Acquisition Who’s attention did you get?
Conversion What information did you gather? Who can you contact as a “lead”?
Retention Who follows you after the acquisition?
Build Your Value Funnel
Define your critical actions
Map against your sales process/sales funnel
Track to conversion Wash, rinse, repeat
The Real Social Media KPI…
In social media, a company is successful when it is influential and when it listens and discusses key issues with its target groups through social media. The relationship that leads to a successful strategy is built upon trust. Hence we have to find a way in which we can determine success events leading to trust, which is the basis for influence in social media and in any kind of business for that sake.—Jesper ÅströmHow do we?
Simplify and build basic but long-range metrics?Measure our influence in social media over time?Establish the ‘trust barometer’ for our own
brand?Show how by keeping small promises through
marketing – build your long term brand?
2. Build Your Addressable Customer Base
Everything = Data, “CRM mentality” Capture mechanisms at every turn
(capture attention & capture data) Get comfortable with the data – it’s all
about the data! Setup data-driven trigger points to
nurture your prospects along
For Example: In 2001, ADC communications, a competitor to Lucent, Cisco and Nortel saw it’s sales degrading to the point of a 27% dip. The immediately retrenched, changed course, implemented a recession marketing & sales strategy and gained market share on each of their major competitors that they retain to this day.
Jeep’s “Jeep 2.0” Strategy
1. Portals (using contextual/Google and behavioral/AOL targeting)
2. An IM avatar development program
3. Online video - A new campaign site which was redesigned to host rich-media offerings like video vignettes
4. Virtual "test drives“
5. Ads on free music download sites with viral marketing (pass this song on to your friends capability)
6. Microsites
7. Traditional TV with product placement
8. Events and bowl games - An online fantasy football sponsorship w/print component
9. Print ads
Jeep – The way beyond trail
A choose your own adventure interactive film
User integrates him/herself directly into the video and story reflects their personal registration selections
Program provides clues in exchange for “tell a friend”
Product directly integrated and demonstrated through plot line of film
3. Digital Intimacy
Build your tribe E-Mail: Still a Great Medium for Staying
in Touch Meet them in their medium Build brands & communities
of fans, don’t just advertise
This is the paradox of ambient awareness. Each little update — each individual bit of social information — is insignificant on its own, even supremely mundane. But taken together, over time, the little snippets coalesce into a surprisingly sophisticated portrait of your friends’ and family members’ lives, like thousands of dots making a pointillist painting. - Clive Thompson, NYT Magazine
Map Out Your Cyber- Social Citizenship
Build Community in Niche Networks
Over 350,000 petsApprox. 700 new each day
Beyond Students
Real Estate
Investments
Moms
My Space Politics
4. Start and Keep doing Search (SEM+SEO+SMO)
Search provides a strong, highly measurable ROI for marketing dollars spent.
Search garners click-through rates that exceed all other forms of online advertising.
Search offers marketers the potential for immediate sales online, as well as for online and offline sales at a later time.
Search can even enhance brands. Over 80% of consumers and
businesspeople engage in on a regular basis
Search is Integrated…so Integrate It!
(almost) Everything digital/web based can contribute to search
Integrate search components into ALL of your marketing (PURLS, “Google This”
EVERYTHING AFFECTS SEARCH…
Caminito Argentinean Steakhouse is a single-location restaurant in Northampton, Mass
Using a website, local ads, blogging, video, Twitter, MySpace and other digital tools to drive business
Caminito’s World…
No Love for Iams
What if half the store shelf said, “Don’t Touch This?”
5. Engender Trust
Trust is the currency of brands, and it has never been harder to create or hold on to.
Reviews, recommendations, friends, experts, thought leadership…all trusted!
Do everything you can to make your product and customer service as good as they can possibly be.
Emphasize listening over loud-speaking. Consider building a community where consumers
can weigh in. Take the bold move of embracing customer
ratings and reviews.
Trusted Sources
Join the Conversation
Be transparent. Be open and honest in all communication.
Be ethical. Live by the WOMMA Practical Ethics Toolkit
Be relevant. Share information and perspectives that are valuable to the online community
Personalize and be personable.
Address negative discussion head-on.
Court evangelists & advocates.
Even if you’re not ready to join the conversation, it pays to have a sound strategy for dealing with any social media conversation taking place about your brand.
Comcast is Building Trust…
Comcast tech filmed sleeping…waiting for his own customer service team.
A viral video & blog sensation (of course!)
Popular blogger ‘Tweets’ his Comcast woes
Comcast calls him 20 min later and resolves his issues!
(evangelists)Word of Mouth Among Airlines
Source: Harvard Business Review
Word Of Mouth Is A Powerful Force
Become a Trusted Advisor
Be Generous With Your Knowledge Share beyond the marketing speak
Be Consistent Calendar your activities – daily, weekly, monthly
routine Always Deliver Value
Listen, think, revise, teach, repeat Take A Stand
Take your strong positions to market Focus On The Long-term Benefits
Track your results in months & years
6. Embrace Social Media
“Social Media is people having
conversations online.”
The conversations are powered by…
Blogs Widgets Micro Blogs Online Chat RSS Social Networks Social Bookmarks Message Boards Podcasts Video Sharing Sites Photo Sharing Sites Virtual Worlds Wikis
(…just to name a few)
Social Media
“The most effective social media is all about building relationships, engaging with others, and developing trust while building a solid word-of-mouth marketing program.”
Beware of the Bright Shiny Objects
Addiction To Bright + Shiny Objects
Symptoms Of B.S.O.S. (Bright + Shiny Object Syndrome)
A soft spot for buzzwords A disposition to regurgitate the latest
buzzwords you just overheard An insatiable desire to sell “the latest thing”
to clients A tendency to believe the hype, without
investigating for yourself A tendency to dismiss without investigating
for yourself Excess use of the word “viral” viral…viral…
viral.. viral… Lack of interest in research or first hand
experience Total disregard for customer, brand or
business needs
The Social Homebuilder
Martell’s Holistic Strategy
Holistic strategy, not just social media
Advertising, customer relations, vendor relations, public relations, website execution, social media
Strategic process of defining their audience, establishing their objectives, developing strategies to accomplish those objectives with the audience and then decided the tools
Indium Social Media Strategy
25% reduction in marketing spend Major account wins Entire organization involved
in the ‘community’
Integrated Social Media Strategy Goodwill Repositioning
Blog
YouTube
MySpace
ebay Store
A Few Good Stats
Over 11,500 unique visitors to the virtual fashion show 9/12 launch
Over 42,000 page views 16% of fashion show visitors have been converted
into online Goodwill shoppers Fashion Show Visitors from 31 countries and 48
states plus DC 48% of fashion show visitors are from the DC, MD,
VA region (the area we serve) Blog is averaging between 600 & 700 visitors a week 5.6% of blog visitors are being converted into online
Goodwill shoppers Blog visitors from 77 countries and all 50 states
Brick & mortar stores during the two weeks following the launch of the fashion show:
Customer count + 6.6% Rack sales (clothing) + 16.5% Total sales + 8.275%
http://dcgoodwillfashions.blogspot.com/
You Could...Go…All…the…Way
So, Now What?
Learn to Listen
Where are your customers online/offline? Blogs, Social media tools (e.g. LinkedIn Answers),
Discussion Forums, Twitter, etc…/Events
Monitor these conversations: Find your brand using Google Alerts, Keotag.com,
Boardreader.com and Technorati.com Use a central tool to track the different conversations happening
around your company. Most online conversations are RSS enabled, barring a few Yahoo! groups that don’t support RSS. Use a RSS reader (e.g. Bloglines.com) to gather all these conversations into a central repository and create a folder that you check on a daily basis.
For Example: Best-in-class organizations pursue social media listening as a daily discipline and have a response strategy to engage in the conversation if necessary.
Get an Online Personality
Personality Toolkit LinkedIn Profile Facebook page Personal or corporate blog De.licio.us page for bookmarks YouTube page (youtube.com/yourname) Share photos online (Flickr, Photobucket) Thou shalt have a complete profile
40x more likely to succeed when complete Choose your own social media adventure!
Be the Media
Feature a link to the blog on your company home page.
Employ a team of bloggers.
Provide guidelines to bloggers.
Share company news and thought leadership. Post a combination of written word, photos and
video. Link generously to other digital influencers. Allow moderated comments to foster a two-way
conversation.
Tap Into Your Community
Community members can be worth 30% more
Tap the power of your customer base
Increase long-term lifetime value
Involve them in something meaningful
Know what customers really want to buy
Crowdsource Your Next Big Idea
Define an idea management process.
Design and develop the online community.
Promote the community with your customers.
Invite them to contribute.
Post questions to spur their thinking.
Celebrate great ideas.
A Crowdsourced Business
Seventh Generation, a leading green consumer products company, used a crowdsourcing approach to design an eco-friendly diaper bag as part of its Wee Generation campaign. Mommies, children and leading environmental experts collaborated to design a state-of-the-art, limited edition bag, which Seventh Generation now sells.
Harness the Power of Social Networks
Connect with your customers in their network. Facebook, LinkedIn,
MySpace, etc… Build applications for
them in their networks.
Assign someone in your organization as the ‘community manager’.
If you build it, they won’t come – put together a sound seeding strategy
Share Your Assets!
Create a brand channel on YouTube, a SlideSpace on SlideShare and so on…
Upload your company’s videos to your YouTube channel Adds to your search results
Promote your company’s YouTube channel or specific videos on your Web site, emails, newsletters.
Engage your audience by encouraging them to add comments, rate videos, share video.
Update your content frequently to keep it fresh. This is critical to keep people coming back.
“Every brand needs to be relevant and part of a community. They need to open a dialogue with their consumers, but they also need to be prepared for what could be negative feedback and I don’t think all marketers are ready for that.”
- Bob Ivins, EVP, comScore
How to control millions of
inaccurate and divergent
conversations ?
YOU DON’T
Consumers are beginning in a very real sense to own our brands and participate in their creation … We need to begin to learn to let go. A.G. Lafley, CEO and Chairman of P&G, October 2006
(cc) Lynette Webb, 2006
Social Media + Web 2.0 for Sales & Marketing
Q & A
Need help after the presentation? Email [email protected]
Download slides at: http://www.marketingsavant.com/rama
Social Media + Web 2.0 for Sales & Marketing
ThankYou!
Need help after the presentation? Email [email protected]
Download slides at: http://www.marketingsavant.com/rama