Social Marketing for Entrepreneurs
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The document discusses the importance of social marketing in the current business landscape, arguing that traditional advertising methods are becoming less effective due to low consumer trust and attention. It emphasizes the need for businesses to engage with their audience through peer trust and deliver real value, rather than intrusive marketing messages. The author advocates for a shift in marketing strategy that focuses on building genuine relationships and transparency to drive consumer trust and sales.
Social Marketing for Entrepreneurs
- 1. Social Marketing is the New MarketingAnd why you need to represent.ERIC WEAVER | TRIBAL DDB19-NOV-2009
- 2. 2Excess hype, overshare, pokes, "how well do you know me" quizzes and stalkers. Why would I use this for biz?
- 3. 3?I don’t have a lot of money, especially now. I keep hearing about social media. Is this a fad? Do these efforts actually work? The conversation seems so shallow. Who's got time to manage all this?Srsly?
- 4. People ask me if their business should be using social mediaAnd I say, I don’t know, is there more business near the freeway?
- 5. Create a business planCreate a brand identityGet the word out!Bringing your baby to marketCreate a marketing planCreate business cards, pamphlets, website
- 6. 6Outbound mktg is a $1TT machine. Each niche = a full industry. We're rewarded for storytelling/ intrusion/repetition. Unchanged in 150 yrs.6:41 PM Oct 21 from PowerPoint
- 7. Back in the dayLimited product choiceLimited media channelsLonger brand interactionsHigher barriers to entry7
- 9. HIGH NOISEYou’re competing for time/attention with huge marketing budgets, bloggers, crisesHIGH CHOICECustomer choice is largely off the charts. Plus, we can find anything we want through GoogleThe new realitiesLOW TRUSTConsumers in particular distrust advertising/marketingLOW TIME/ATTENTIONVery few people have time for your marketing message!
- 10. But marketing is stuck in the past
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- 13. ESPECIALLY WHEN THERE’S RISKPeople turn to peers when time is short, risk is greaterWE TRUST PEERS THE MOST(57%);13% trust advertisers/marketers (least trusted group)Trustdrives transactionsPEOPLE BUY TRUSTTrust drives preference: 91% buy from trusted companies; 77% refuse to buy from distrustedTRUST IS WIDELY SPREAD56% age 35-64, 63% 25-34 share trust/distrust on the webEDELMAN TRUST BAROMETER
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- 15. So…Does it make sense to spend money on traditional advertising when people don’t want it?Does it make sense to spend money to compete against larger offerings?Why use methods that create distrust?Why ask for scarce time and attention without giving something of value in exchange? Why not leverage the most trusted channel—peers—instead of the least trusted—advertising?
- 16. The approach is easy.BE FOUND at the end of a searchPROVIDE VALUE at the end of that searchIf you don’t give, you won’t get (time, attention)CREATE TRUST at the end of that search
- 17. Social marketingA shift in focus from crafting a message and spamming it out everywhere to allowing the market to engage with your offeringLeverages peer trust to drive awareness and salesThe market becomes your sales forceYou’re at the end of a search, not an interruption along the wayThis is a hard thing for baby boomers (40+) to understand. Why?
- 18. 18GENS X&Y = affinity. Formalities ignored, sharing means finding, tech is easy, random is life. Consider your lens. Suit & tie = distrust.2:57PM Oct 21 from PowerPointBOOMERS = propriety. Trained in formalities, don’t offend, guarded means safe, not so great with “random.” Suit & tie = trust.2:57 PM Oct 21 from PowerPoint
- 19. Your offering’s social effortsCreate digital marketing materials for the end of the searchShareable, downloadable, bookmarkableOptimized for search with keywords, tags, intended audiencePrintableReinforce trustReal testimonials are MONEYShow your hard-won expertise, life lessons, vision for your categoryInject some personal into the professionalEnable customers to talk about your offeringComments, rankings, social sharingRespect time starvationShort, sweet, to the point
- 20. Step up your own personal social effortsYOU are as much a part of your brand as the company isYou provide a backbone of trust or distrust in the offeringPeople want to connect with people more than brandsGens X and Y trust others less when they’re opaque with their informationShare a bit of personal data to build trustThere is a line! Decide where to draw the line between professional and personal, good sharing and oversharingOwn your $#%@If you have experiences where you have damaged others’ trust, make a nod to them before others doDisarms naysayers, engenders trust
- 21. STILL NEED A BRAND!What’s your promise? Your unique value? Your primary differentiation? The benefits you’ll always deliver?BE TRANSPARENTAbout everything except that which must be kept secretThe new marketing means…NO MORE SET & FORGETDialogue requires feedback mechanisms, time, effort and good conversational skillzIT’S BOTH ONLINE & OFFOnline lets you be found; offline provides final chemistry/trust check
- 22. Web marketing, circa 1996Email marketing, 1995“But I don’t have time for one more thing!”Learning the computer for graphic design, 1986Telemarketing, 1977
- 23. This qualifies as a “profound shift.”There are over 300,000 businesses now on Facebook.More than 750,000 people join Facebook every day.Twitter grew 1382% between Jan/Feb 2009.Companies that utilized social media had an average 18% increase in sales in 2008.Those with least social media: decrease of 6%.Only 18% of traditional TV campaigns generate a positive ROI.Economist, 2008: 75% of business executives think that increased market engagement will translate into higher profits.49% think that inadequate engagement was responsible for up to ¼ of all lost sales.
- 24. Example: Burger KingSpent $50,000 on social marketing efforts for BK Sacrifice Facebook applicationReceived $400,000 in media value32MM free media impressionsEqual to combined population of 19 states
- 27. 27Growing revenue is not about a clever tagline, an elegant logo, being a better nuisance, or showing up in unexpected places. It’s about PEOPLE TRUSTING YOU.
- 28. 28BUILD PROOF POINTS. Demonstrate u know ur stuff, a vision for sector/mkt, that others took a chance & benefitted, that ur ethical, easy, trustworthy. 7:12 PM Oct 21 from PowerPointEMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU. Give customers a voice. Amplify their words. Make value sharing effortless.7:13 PM Oct 21 from PowerPointDON’T KILL TRUST W/INTRUSION: Don’t interrupt search. Be found/referred. Don’t talk abtur value, demonstrate it.7:12 PM Oct 21 from PowerPoint
- 29. It’s not about just “being on social media”29Look for and target ur organization’s trust soft-spots. Rebuild trust there w/proof pts. Be real. Take fodder from conspiracy theorists.
- 30. Soft-spots in trust: would you still hire someone after this?7:16 PM Oct 21 from PowerPoint
- 31. Okay, I get the Why. Now, how do I get started?
- 32. 32THOUGHT STARTERS, BLOGGING: CEO media/invstr relations; industry trends/insights; legislation impacts
- 33. 33THOUGHT STARTERS, TWITTER (here, now): crisis PR, timely insights, content alerts, community bldg, event notices
- 34. 34THOUGHT STARTERS, VIDEO: great for intensive learning, how-to vids, personality pieces, company storytelling, humor
- 35. 35THOUGHT STARTERS, AUDIO: great for distracted learning, storytelling, conversational thought ldrship, testimonials, sensory experiences
- 36. 36THOUGHT STARTERS, WIKIS: great for event planning, product developing, crowdsourcing ideas, shared learnings, distributed wk-in-progress
- 37. 37THOUGHT STARTERS, WIDGETS/APPS: get your content into more places, allow engagement w/o leaving venue, aggregating valuable content
- 38. 38THOUGHT STARTERS, SOCIAL VENUES: brand awareness, community/CSR discussions, loyalty programs, consumer feedbk/trials/testing
- 39. Some free and easy tools for reprezentin’39
- 40. Simple, free tools for reprezentin’40
- 41. Qapacity41
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- 48. LinkedIn Q&A48
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- 50. So. Where does that leave us?50
- 51. 51One more thing for marketers to do: more like engagingur market where they prefer to be. How’d that last trade show budget work out?7:27 PM Oct 21 from PowerPointSocial media is so NOT a fad. Google gave us search. SocMed gave us sharing, connecting. Consumers will not give up this ability.7:26 PM Oct 21 from PowerPointIts rapid adoption shows that we are time-starved creatures who want to be found by like minds.7:26 PM Oct 21 from PowerPoint
- 52. 52Build trust by being found, demonstrating your knowledge, your vision and offering proof of trustworthiness.7:28 PM Oct 21 from PowerPointFinally, use social marketing to leverage the EXISTING TRUST already established between peers, rather than buying new trust.7:29 PM Oct 21 from PowerPointRECAP: Rethink yourmarketing approach (and your personal brand) from a prospective of trust and with a wider lens.7:28 PM Oct 21 from PowerPoint
- 53. THANK YOU! AND QUESTIONS.me:twitter.com/weave company:tribalddb.caslides:slideshare.net/weave
Editor's Notes
- #5: People ask me if their business should be represented on social channels. I ask them if they thought it helped businesses to be near the freeway.
- #11: Most marketers don’t see the signs; those who do aren’t sure how to adaptPeople are change-averse
- #13: In fact, when it comes to advertisers, guess what the term is most closely associated with “advertising”? FALSE. This is totally something we need to be aware of and addressing: a lack of trust in advertising. What’s the point if no one trusts what we’re saying? That’s not the kind of profession I want to be in: one where I’m distrusted and considered to be misleading.
- #15: Before I can see Oprah announce that she’s planned her final show, I have to waste 15 precious seconds watching something about a toothpaste that I have not chosen. Does this engender trust?
- #25: Spent $50,000 on social marketing efforts for BK Sacrifice Facebook applicationReceived $400,000 in media value32MM free media impressions (equal to combined population of 19 states)
- #26: Grew his family’s neighborhood liquor store and wine business from $4MM to $50MM using social media – in 3 yearsSpent $15K in DM to get 200 new customersSpent $7.5k on outdoor advertising and got 300 new customersSpent $0 on Twitter and got 1800 new customers
- #27: Blog, FB, YouTube to connect. Results: 2MM impressions, 2300 new accts, $4MM in new deposits.