64
SOCIAL MEDIA + WEB 2.0 FOR SALES & MARKETING Rochester, NY AMA – April 29,2009

Rochester AMA Presentation

Embed Size (px)

DESCRIPTION

Web 2.0 & Social Media presentation delivered at Rochester AMA

Citation preview

Page 1: Rochester AMA Presentation

SOCIAL MEDIA + WEB 2.0 FOR SALES & MARKETINGRochester, NY AMA – April 29,2009

Page 2: Rochester AMA Presentation

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 --

Page 3: Rochester AMA Presentation

After-Event Slides & Resources

The slides and resource links are available electronically after the event:

www.marketingsavant.com/rama

Page 4: Rochester AMA Presentation

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.

Page 5: Rochester AMA Presentation

MARKETING IN A DOWNTURN…

Page 6: Rochester AMA Presentation

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.

Page 7: Rochester AMA Presentation

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.

Page 8: Rochester AMA Presentation

A.G. LafleyCEO, Procter & Gamble

“We have a philosophyand a strategy. When times are tough, you build share.”

Page 9: Rochester AMA Presentation

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

Page 10: Rochester AMA Presentation

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)

Page 11: Rochester AMA Presentation

Where Everything Is Headed

2009 2050?

Digital

Non-Digital

Today

Source: Google1996

Page 12: Rochester AMA Presentation

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!

Page 13: Rochester AMA Presentation

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

Page 14: Rochester AMA Presentation

Source: Marketing Leadership Council - www.mlc.executiveboard.com

Page 15: Rochester AMA Presentation

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

Page 16: Rochester AMA Presentation

The Digital Sales Funnel

Source: InTouch

Page 17: Rochester AMA Presentation

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

Page 18: Rochester AMA Presentation

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

Page 19: Rochester AMA Presentation

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.

Page 20: Rochester AMA Presentation

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?

Page 21: Rochester AMA Presentation
Page 22: Rochester AMA Presentation

Build Your Value Funnel

Define your critical actions

Map against your sales process/sales funnel

Track to conversion Wash, rinse, repeat

Page 23: Rochester AMA Presentation

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?

Page 24: Rochester AMA Presentation

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.

Page 25: Rochester AMA Presentation

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

Page 26: Rochester AMA Presentation

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

Page 27: Rochester AMA Presentation

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

Page 28: Rochester AMA Presentation

Map Out Your Cyber- Social Citizenship

Page 29: Rochester AMA Presentation

Build Community in Niche Networks

Over 350,000 petsApprox. 700 new each day

Beyond Students

Real Estate

Investments

Moms

My Space Politics

Page 30: Rochester AMA Presentation

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

Page 31: Rochester AMA Presentation

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”

Page 32: Rochester AMA Presentation

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

Page 33: Rochester AMA Presentation

Caminito’s World…

Page 34: Rochester AMA Presentation

No Love for Iams

What if half the store shelf said, “Don’t Touch This?”

Page 35: Rochester AMA Presentation

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.

Page 36: Rochester AMA Presentation

Trusted Sources

Page 37: Rochester AMA Presentation

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.

Page 38: Rochester AMA Presentation

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!

Page 39: Rochester AMA Presentation

(evangelists)Word of Mouth Among Airlines

Source: Harvard Business Review

Word Of Mouth Is A Powerful Force

Page 40: Rochester AMA Presentation

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

Page 41: Rochester AMA Presentation

6. Embrace Social Media

“Social Media is people having

conversations online.”

Page 42: Rochester AMA Presentation

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)

Page 43: Rochester AMA Presentation

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.”

Page 44: Rochester AMA Presentation

Beware of the Bright Shiny Objects

Addiction To Bright + Shiny Objects

Page 45: Rochester AMA Presentation

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

Page 46: Rochester AMA Presentation

The Social Homebuilder

Page 47: Rochester AMA Presentation

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

Page 48: Rochester AMA Presentation

Indium Social Media Strategy

25% reduction in marketing spend Major account wins Entire organization involved

in the ‘community’

Page 49: Rochester AMA Presentation

Integrated Social Media Strategy Goodwill Repositioning

Blog

YouTube

MySpace

ebay Store

Page 50: Rochester AMA Presentation

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/

Page 51: Rochester AMA Presentation

You Could...Go…All…the…Way

Page 52: Rochester AMA Presentation

So, Now What?

Page 53: Rochester AMA Presentation

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.

Page 54: Rochester AMA Presentation

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!

Page 55: Rochester AMA Presentation

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.

Page 56: Rochester AMA Presentation

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

Page 57: Rochester AMA Presentation

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.

Page 58: Rochester AMA Presentation

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.

Page 59: Rochester AMA Presentation

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

Page 60: Rochester AMA Presentation

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.

Page 61: Rochester AMA Presentation

“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

Page 62: Rochester AMA Presentation

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

Page 63: Rochester AMA Presentation

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

Page 64: Rochester AMA Presentation

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