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

2:57PM Oct 21 from PowerPoint

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


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


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.

http://www.flickr.com/photos/methodshop/3462666223/

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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Social media is so NOT a fad. Google gave us search. SocMed gave us sharing, connecting. Consumers will not give up this ability.


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


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


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


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

Business

Social Marketing for Entrepreneurs