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Social Influence Marketing at InBound Marketing Summit

My presentation at the InBound Marketing Summit. Also includes information about my upcoming book

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Social Influence Marketing at InBound Marketing Summit

  1. Social Influence Marketing: 5 IDEAS October 10, 2009 @shivsingh
  2. The purpose of a business is to create a customer – Peter Drucker “ ” @shivsingh
  3. The purpose of a business is to create a customer who creates customers @shivsingh
  4. Leaving your only job to be taking care of your existing customers Trust me, that’ll be harder not easier… @shivsingh
  5. IDEA 1: Practice SIM everyday @shivsingh
  7. <ul><li>Will you practice Social Influence Marketing? </li></ul><ul><ul><li>Allow the community to shape and evolve your brand </li></ul></ul><ul><ul><li>Market to the community and not just the individual </li></ul></ul><ul><ul><li>Design social products and utilities, not just ads or micro-sites </li></ul></ul><ul><ul><li>Let go of your content and the sanctity of your product pages </li></ul></ul><ul><ul><li>Bring in the social graph and not just the customer </li></ul></ul>IDEA 1 @shivsingh
  8. But we focus on these the most These are powerful IDEA 1 <ul><li>And can you link it to your other marketing efforts? </li></ul><ul><ul><li>Social engagement results in purchases 24 days later on average </li></ul></ul><ul><ul><li>Exposure equals 2.8 times likelihood of search, click rate increase 50% </li></ul></ul><ul><ul><li>Traditional media jump starts social - Subservient Chicken </li></ul></ul><ul><ul><li>34% retailers believe social media increased sales for them </li></ul></ul><ul><ul><li>Social CRM scaling up. 70% of email vendors integrate social now </li></ul></ul>@shivsingh
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  10. IDEA 2: Focus on the relationships @shivsingh
  11. It is not just about a platform, yours or anyone else's IDEA 2 @shivsingh
  12. Find out who is influencing your customer. Research influencer types IDEA 2 @shivsingh CUSTOMER
  13. IDEA 2 At different stages in the marketing funnel @shivsingh
  14. Don’t break the trust or get into trouble with the FTC @shivsingh
  15. Brand Voice Social Voice Social Brand How Best Buy is evolving with social voices <ul><li>Brand accurately reflected </li></ul><ul><li>Single, anonymous and one way </li></ul><ul><li>Unique to the company </li></ul><ul><li>Consistent across touch points </li></ul><ul><li>Manifested in many real people </li></ul><ul><li>Brand is more human in social </li></ul><ul><li>Engaging and two way </li></ul><ul><li>Listens, learns and interacts </li></ul><ul><li>Social voice becomes brand personality </li></ul><ul><li>Represented on across all touch points including TV </li></ul>@shivsingh
  16. IDEA 3: Put your community at the core @shivsingh
  17. 72% of internet users say they are exposed to too much advertising IDEA 3 @shivsingh
  18. And publishers can’t just depend the same old strategies and tactics IDEA 3 @shivsingh
  19. So harness all of social IDEA 3 @shivsingh Consumer Controlled High Fragmentation Influential Proprietary Low reach Information rich Expected High Reach Database Web sites SEO Branded Content Media partnerships PPC Display ePOS SMS/MMS Social marketing Blogs, forums UGC Viral/Seeding cost per interaction OWNED EARNED 2ct 10ct BOUGHT $1 2ct SOCIAL MEDIA
  20. By putting community at the core of your brand Your Community Your Brand IDEA 3 Your Brand Your Community @shivsingh
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  23. IDEA 4: Retool your Marketing Department @shivsingh
  24. What does this really mean? IDEA 4 @shivsingh
  25. IDEA 4 CMO Advertising Public Relations Product Marketing Customer Research Marketing Operations Interactive Marketing Media Brand Social Media Dude @shivsingh
  26. IDEA 4 CMO Customer Participation & Design Customer Listening Customer Operations <ul><li>No compartmentalization of digital </li></ul><ul><li>No compartmentalization of PR </li></ul><ul><li>No paid/earned media separation </li></ul><ul><li>No corporate/product marketing separation </li></ul><ul><li>Research stops being singular </li></ul><ul><li>Advertising is about participating </li></ul><ul><li>Marketing is also about designing </li></ul>@shivsingh
  27. IDEA 5: Measure @shivsingh
  28. Measure everything IDEA 5 @shivsingh
  29. IDEA 5 @shivsingh
  30. What’s your SIM Score? SIM Score = Conversation Share + Sentiment * *Adjusted for influence IDEA 5 @shivsingh
  31. And account for the real world too @shivsingh Company Share of Voice Net Sentiment SIM Score Bank of America 31.6% 66% 32 JPMorgan Chase 20.7% 62% 20 Wells Fargo 13.5% 71% 15 Citibank 13.6% 66% 14 Capital One 9.19% 69% 10 Wachovia 11.1% 62% 10 Company Online Share of Voice Offline Share of Voice Online Net Sentiment Offline Net Sentiment Bank of America 31.6% 33% 66% 66% Capital One 9.19% 5% 69% 74% Citibank 13.6% 16% 66% 55% JPMorgan Chase 20.7% 17% 62% 64% Wachovia 11.1% 16% 62% 50% Wells Fargo 13.5% 14% 71% 73% IDEA 5
  32. Mutual Funds: SIM Score over three weeks @shivsingh
  33. Apparel Retailers: SIM Score over three months @shivsingh
  34. SIM Score questions to ask <ul><li>How does advertising impact the SIM Score? </li></ul><ul><li>How does the SIM Score change during the lifetime of a campaign? </li></ul><ul><li>Does the SIM Score adjust appropriately for varying levels of influence? </li></ul><ul><li>How does the SIM Score relate to other business metrics? </li></ul><ul><li>Can the SIM Score serve as a leading indicator for sales? </li></ul><ul><li>Can you tie loyalty metrics to SIM Score metrics? </li></ul>@shivsingh
  35. 5 Ideas for Social Influence Marketing <ul><ul><li>Practice Social Influence Marketing </li></ul></ul><ul><ul><li>Focus on relationships not just platforms </li></ul></ul><ul><ul><li>Put your community at the core </li></ul></ul><ul><ul><li>Retool your Marketing Department </li></ul></ul><ul><ul><li>Measure what matters. Customize </li></ul></ul>@shivsingh
  36. Thank You <ul><li>Shiv Singh </li></ul><ul><li>[email_address] </li></ul><ul><li> </li></ul><ul><li> </li></ul>Book is available for pre-order at Amazon, Barnes & Noble and Borders. On sale nationwide - October 26th