Social Marketing for Entrepreneurs

Social Marketing is the New Marketing◼ And why you need to represent.

◼ ERIC WEAVER | TRIBAL DDB◼ 19-NOV-2009

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Excess hype, overshare, pokes, "how well do you know me" quizzes and stalkers. Why would I use this for biz?

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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??

People ask me if their business should be using social media◼ And I say, I don’t know, is there more business near the

freeway?

Bringing your baby to market

Create a business plan

Create a marketing plan

Create a brand identity

Create business cards, pamphlets, website

Get the word out!

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6:41 PM Oct 21 from PowerPoint

Outbound mktg is a $1TT machine. Each niche = a full industry. We're rewarded for storytelling/ intrusion/repetition. Unchanged in 150 yrs.

Back in the day

Limited product choiceLimited media channelsLonger brand interactionsHigher barriers to entry

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Customer shifts

The new realities

HIGH NOISEYou’re competing for

time/attention with huge marketing budgets, bloggers,

crises

LOW TRUSTConsumers in particular

distrust advertising/marketing

HIGH CHOICECustomer choice is largely off the charts. Plus, we can find anything

we want through Google

LOW TIME/ATTENTIONVery few people have time

for your marketing message!

But marketing is stuck in the past

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Trust

ESPECIALLY WHEN THERE’S RISK

People turn to peers when time is short, risk is greater

TRUST IS WIDELY SPREAD56% age 35-64, 63% 25-34 share trust/distrust on the

web

WE TRUST PEERS THE MOST(57%); 13% trust

advertisers/marketers (least trusted group)

PEOPLE BUY TRUSTTrust drives preference: 91% buy from trusted

companies; 77% refuse to buy from distrusted

EDELMAN TRUST BAROMETER

drives transactions

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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?

The approach is easy.◼ BE FOUND at the end of a search◼ PROVIDE VALUE at the end of that search

◼ If you don’t give, you won’t get (time, attention)◼ CREATE TRUST at the end of that search

Social marketing◼ A shift in focus from crafting a message and spamming it out

everywhere to allowing the market to engage with your offering◼ Leverages peer trust to drive awareness and sales

◼ The market becomes your sales force◼ You’re at the end of a search, not an interruption along the way

◼ This is a hard thing for baby boomers (40+) to understand. Why?

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2:57 PM Oct 21 from PowerPoint

BOOMERS = propriety. Trained in formalities, don’t offend, guarded means safe, not so great with “random.” Suit & tie = trust.

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GENS X&Y = affinity. Formalities ignored, sharing means finding, tech is easy, random is life. Consider your lens. Suit & tie = distrust.

Your offering’s social efforts◼ Create digital marketing materials for the end of the search

◼ Shareable, downloadable, bookmarkable◼ Optimized for search with keywords, tags, intended audience◼ Printable

◼ Reinforce trust◼ Real testimonials are MONEY◼ Show your hard-won expertise, life lessons, vision for your category◼ Inject some personal into the professional

◼ Enable customers to talk about your offering◼ Comments, rankings, social sharing

◼ Respect time starvation◼ Short, sweet, to the point

Step up your own personal social efforts◼ YOU are as much a part of your brand as the company is

◼ You provide a backbone of trust or distrust in the offering◼ People want to connect with people more than brands◼ Gens X and Y trust others less when they’re opaque with their

information◼ Share a bit of personal data to build trust

◼ There is a line! Decide where to draw the line between professional and personal, good sharing and oversharing

◼ Own your $#%@◼ If you have experiences where you have damaged others’ trust, make

a nod to them before others do◼ Disarms naysayers, engenders trust

The new marketing means…

STILL NEED A BRAND!What’s your promise? Your unique value? Your primary differentiation? The benefits

you’ll always deliver?

NO MORE SET & FORGETDialogue requires feedback

mechanisms, time, effort and good conversational skillz

BE TRANSPARENTAbout everything except that which

must be kept secret

IT’S BOTH ONLINE & OFFOnline lets you be found;

offline provides final chemistry/trust check

“But I don’t have time for one more thing!”

Telemarketing, 1977

Web marketing, circa 1996

Learning the computer for graphic design, 1986

Email marketing, 1995

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.

Example: Burger King

◼ Spent $50,000 on social marketing efforts for BK Sacrifice Facebook application

◼ Received $400,000 in media value◼ 32MM free media impressions

◼ Equal to combined population of 19 states

Example: Gary Vaynerchuk

Example: Servus/Commonwealth CU

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Growing 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.

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DON’T KILL TRUST W/INTRUSION: Don’t interrupt search. Be found/referred. Don’t talk abt ur value, demonstrate it.7:12 PM Oct 21 from PowerPoint

7:12 PM Oct 21 from PowerPoint

BUILD PROOF POINTS. Demonstrate u know ur stuff, a vision for sector/mkt, that others took a chance & benefitted, that ur ethical, easy, trustworthy.

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EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU. Give customers a voice. Amplify their words. Make value sharing effortless.

It’s not about just “being on social media”

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Look for and target ur organization’s trust soft-spots. Rebuild trust there w/proof pts. Be real. Take fodder from conspiracy theorists.

Soft-spots in trust: would you still hire someone after this?7:16 PM Oct 21 from PowerPoint

Okay, I get the Why. Now, how do I get started?

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THOUGHT STARTERS, BLOGGING: CEO media/invstr relations; industry trends/insights; legislation impacts

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THOUGHT STARTERS, TWITTER (here, now): crisis PR, timely insights, content alerts, community bldg, event notices

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THOUGHT STARTERS, VIDEO: great for intensive learning, how-to vids, personality pieces, company storytelling, humor

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THOUGHT STARTERS, AUDIO: great for distracted learning, storytelling, conversational thought ldrship, testimonials, sensory experiences

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THOUGHT STARTERS, WIKIS: great for event planning, product developing, crowdsourcing ideas, shared learnings, distributed wk-in-progress

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THOUGHT STARTERS, WIDGETS/APPS: get your content into more places, allow engagement w/o leaving venue, aggregating valuable content

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THOUGHT STARTERS, SOCIAL VENUES: brand awareness, community/CSR discussions, loyalty programs, consumer feedbk/trials/testing

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Some free and easy tools for reprezentin’

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Simple, free tools for reprezentin’

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Qapacity

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LinkedIn Q&A

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So. Where does that leave us?

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7:26 PM Oct 21 from PowerPoint

Social 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 PowerPoint

Its rapid adoption shows that we are time-starved creatures who want to be found by like minds.

7:27 PM Oct 21 from PowerPoint

One more thing for marketers to do: more like engaging ur market where they prefer to be. How’d that last trade show budget work out?

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7:28 PM Oct 21 from PowerPoint

RECAP: Rethink your marketing approach (and your personal brand) from a prospective of trust and with a wider lens.

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Build trust by being found, demonstrating your knowledge, your vision and offering proof of trustworthiness.

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Finally, use social marketing to leverage the EXISTING TRUST already established between peers, rather than buying new trust.

THANK YOU! AND QUESTIONS.me: twitter.com/weave company: tribalddb.caslides: slideshare.net/weave