Creating Conversation Worthy BUZZ

81
  • date post

    17-Oct-2014
  • Category

    Business

  • view

    3.080
  • download

    1

description

Word of mouth marketing has been part of cultures for centuries. People share with other people and we tend to believe what our friends, family, neighbors, and now, even strangers on line have to say. The importance of referrals and recommendations is growing year over year. Isn't it time you took word of mouth and the power of the consumer seriously?

Transcript of Creating Conversation Worthy BUZZ

Page 1: Creating Conversation Worthy BUZZ
Page 2: Creating Conversation Worthy BUZZ

source | Nielsen study (August 2010)

PEMCO:

Vice Pres & CMO

WOMMA:

Board President

Page 3: Creating Conversation Worthy BUZZ

WOMMA advances and

advocates the discipline of

credible word of mouth

marketing.

source | Nielsen study (August 2010)

Page 4: Creating Conversation Worthy BUZZ

source | Nielsen study (August 2010)

Social

Media

Social Engagement

Social Business

What comes to mind?

Page 5: Creating Conversation Worthy BUZZ

source | Nielsen study (August 2010)

Social

Media

Social Engagement

Social Business

What comes to mind? Hint:

One is noun.

One is verb.

One is an adjective.

Shows

Action

Media Engagement Business

Page 6: Creating Conversation Worthy BUZZ
Page 7: Creating Conversation Worthy BUZZ
Page 8: Creating Conversation Worthy BUZZ

Includes all value

exchanges that

enrich relationships

between customers

and company.

Page 9: Creating Conversation Worthy BUZZ

93% of US consumers have

at least one brand-related

conversation face-to-face

every day.

source | Keller Fay & Yahoo! study (June 2010)

Page 10: Creating Conversation Worthy BUZZ

45% of US consumers have

at least one brand-related

conversation voice-to-voice

every day.

source | Keller Fay & Yahoo! study (June 2010)

Page 11: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online

every day.

source | Keller Fay & Yahoo! study (June 2010)

Page 12: Creating Conversation Worthy BUZZ

source | Nielsen study (August 2010)

Social Media Voice of the Company

Top-Down Control

Company-Generated Messages

Infrequently Updated

Socially Engaged Voice of the Customer

Bottom-Up Messaging

Consumer-Generated Messages

Continuously Updated

Page 13: Creating Conversation Worthy BUZZ

Social Media Voice of the Company

Top-Down Control

Company-Generated Messages

Infrequently Updated

Socially Engaged Voice of the Customer

Bottom-Up Messaging

Consumer-Generated Messages

Continuously Updated

Page 14: Creating Conversation Worthy BUZZ

Social Media Voice of the Company

Top-Down Control

Company-Generated Messages

Infrequently Updated

Socially Engaged Voice of the Customer

Bottom-Up Messaging

Consumer-Generated Messages

Continuously Updated

Page 15: Creating Conversation Worthy BUZZ

Social Media Voice of the Company

Top-Down Control

Company-Generated Messages

Infrequently Updated

Socially Engaged Voice of the Customer

Bottom-Up Messaging

Consumer-Generated Messages

Continuously Updated

Page 16: Creating Conversation Worthy BUZZ

23% of people’s time

spent on the Internet is on

Social Media websites

source | Nielsen study (August 2010)

Page 17: Creating Conversation Worthy BUZZ
Page 18: Creating Conversation Worthy BUZZ

65% are on Twitter

54% are on Facebook

29% use YouTube

33% maintain a blog

2010 – Fortune 100 Companies…

source | Burson-Marsteller & Digital Media Study (February 2010)

Page 19: Creating Conversation Worthy BUZZ

source | Burson-Marsteller & Digital Media Study (February 2011)

2011 – Fortune 100 Companies…

77% are on Twitter

61% are on Facebook

57% use YouTube

36% maintain a blog

Page 20: Creating Conversation Worthy BUZZ

The average number of

Twitter accounts Fortune 100

firms maintain is 5.8

source | Burson-Marsteller “Global Social Media Check-Up” report (February 2010)

Page 21: Creating Conversation Worthy BUZZ

Fortune 100 firms are

tweeting, on average,

25 to 30 times per week

source | Burson-Marsteller “Global Social Media Check-Up” report (February 2010)

Page 22: Creating Conversation Worthy BUZZ

84% of Fortune 100

businesses with a Facebook

page are actively using it

source | Burson-Marsteller “Global Social Media Check-Up” report (February 2011)

(NOTE: Up from 59% in 2010)

Page 23: Creating Conversation Worthy BUZZ

Fortune 100 firms average

4 updates per week to their

Facebook page

source | Burson-Marsteller “Global Social Media Check-Up” report (February 2010)

Page 24: Creating Conversation Worthy BUZZ

“… companies that are both

deeply and widely engaged in

social media surpass their peers in

terms of both revenue and profit

performance by a significant

difference.”

Page 25: Creating Conversation Worthy BUZZ

source | Starbucks Facebook Page (May 26, 2010)

22,300,000+ Facebook fans

Page 26: Creating Conversation Worthy BUZZ

22,313,818 Facebook fans

“It isn’t a marketing initiative.

It isn’t a PR initiative. It’s

cultivating and creating great

consumer value and great

customer relationships” Alexandra Wheeler

digital strategy director, Starbucks

Page 27: Creating Conversation Worthy BUZZ

source | Starbucks Q3’09 - Earnings Call Transcript, July 21, 2009

22,313,818 Facebook fans Howard Schultz

Chairman & CEO, Starbucks

“The key here is that we are

connecting directly with our

loyal customers who will be

driving our future growth.”

Page 28: Creating Conversation Worthy BUZZ
Page 29: Creating Conversation Worthy BUZZ

Word of Mouth is the primary

factor behind 20% to 50%

of all purchase decisions.

source | “A New Way to Measure Word-of-Mouth Marketing” (McKinsey Quarterly, April 2010)

Page 30: Creating Conversation Worthy BUZZ

54% of US adults identified

old-fashioned Word of Mouth

as most important influencer

of purchase decisions.

source | “Digital Marketer Report, Experian – 2011

Page 31: Creating Conversation Worthy BUZZ

Where does

WOM fit in your

marketing

strategy?

Page 32: Creating Conversation Worthy BUZZ

Where does

WOM fit in your

business

strategy?

Page 33: Creating Conversation Worthy BUZZ

PEMCO’s BHAG:

Big Hairy Audacious Goal

Page 34: Creating Conversation Worthy BUZZ

76% of consumers believe

companies are untruthful in

their advertising.

source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)

Page 35: Creating Conversation Worthy BUZZ

source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)

Advertised In Reality

Page 36: Creating Conversation Worthy BUZZ

78% of global

consumers say they

trust recommendations

from other consumers

source | Nielsen’s “Trust in Advertising” Report (2007)

Page 37: Creating Conversation Worthy BUZZ

source | PEMCO Mutual Insurance Co, “Market Metrics – 2010”

Reason 2001 2002 2005 2007 2008 2009 2010

Price 60% 62% 50% 50% 36% 40% 33%

Referral and/or

Recommendation

10% 12% 17% 20% 22% 22% 32%

Liked the agent 15% 11% 9% 9% 9% 9% 13%

Good service 33% 23% 5% 4% 9% 4% 10%

Local company <1% <1% <1% <1% 9% 6% 7%

Referrals as important as price

Page 38: Creating Conversation Worthy BUZZ

The typical American

mentions specific brand

names 60 times per week in

offline & online conversations.

source | Keller Fay “ Talk Track” report (2010)

Page 39: Creating Conversation Worthy BUZZ

source | Keller Fay “ Talk Track” report (2009)

68% of WOM conversations

are mostly positive

8% of WOM conversations

are mostly negative

Page 40: Creating Conversation Worthy BUZZ

source | http://www.flickr.com/photos/boudster/3716337113/

Public Displays of Affection

Page 41: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online every

day.

source | Keller Fay & Yahoo! study (June 2010)

Public Displays of Affection

Page 42: Creating Conversation Worthy BUZZ

source | http://www.flickr.com/photos/

Public Displays of Aggravation

Page 43: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online every

day. Public Displays of Aggravation

Page 44: Creating Conversation Worthy BUZZ

67% of companies are

using Twitter to respond

to people’s tweets (NOTE: Up from 38% in 2010)

source | Burson-Marsteller “Global Social Media Check-Up” report (February 2011)

Page 45: Creating Conversation Worthy BUZZ
Page 46: Creating Conversation Worthy BUZZ

Decide to listen

Decide to be affected

Decide to respond

Decide to be engaged

Consumers are talking about you…

Page 47: Creating Conversation Worthy BUZZ

Listening is

marketing’s

greatest opportunity.

Page 48: Creating Conversation Worthy BUZZ

Listening is

your company’s

greatest opportunity.

Page 49: Creating Conversation Worthy BUZZ

Use the

available

search

functions

Page 50: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online every

day. Public Displays of Affection

Page 51: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online every

day. Public Displays of Affection

Page 52: Creating Conversation Worthy BUZZ

22% of US consumers have

at least one brand-related

conversation online every

day. Public Displays of Aggravation

Page 53: Creating Conversation Worthy BUZZ

Customer

reviews and

stories affect

operations.

• Start every meeting with a

customer story!

Page 54: Creating Conversation Worthy BUZZ

“When consumers write

reviews online ... the

average grade is 4.3 stars

out of 5.”

source | Wall Street Journal article (Oct. 5, 2009)

Page 55: Creating Conversation Worthy BUZZ

Create a

place to

welcome

feedback

Page 56: Creating Conversation Worthy BUZZ

Create a

place to

welcome

feedback

Page 57: Creating Conversation Worthy BUZZ

When Layne’s son was hit by a drunk driver, dealing with

their insurance company was a major headache. It was in stark

contrast to the service he’d always received at PEMCO. Layne

knows good service when he sees it – and PEMCO’s been stellar.

Page 58: Creating Conversation Worthy BUZZ

When Paul learned that his dream home had been burglarized and

stripped of $10,000 of new hardware, he didn’t know where to turn.

Though an unfortunate setback to the project, PEMCO helped make

a quick decision and the project moved forward on time.

Page 59: Creating Conversation Worthy BUZZ

Respond with timely

appreciation, empathy,

sincerity and authenticity.

Page 60: Creating Conversation Worthy BUZZ

“When you hit a wrong

note, it’s the next

note that makes it

good or bad.”

source | Slide used with permission of John Moore, BrandAutopsy

Page 61: Creating Conversation Worthy BUZZ

Two great ways to respond

to even the most

challenging assertions.

Page 62: Creating Conversation Worthy BUZZ

Thank You

and

We’re Sorry

Page 63: Creating Conversation Worthy BUZZ

Feb 22nd - 3:18 to

Feb 23rd - 4:05 p.m.

24 hours

47 minutes

Sorry!

Page 64: Creating Conversation Worthy BUZZ

Use humor

that gives,

not takes!

Page 65: Creating Conversation Worthy BUZZ

Use humor

that gives,

not takes!

Page 66: Creating Conversation Worthy BUZZ
Page 67: Creating Conversation Worthy BUZZ
Page 68: Creating Conversation Worthy BUZZ
Page 69: Creating Conversation Worthy BUZZ

Listen

Participate

Encourage

Enable

Engage

at every

touch

point

+

Partnership

Page 70: Creating Conversation Worthy BUZZ

Keep the

Advocacy

Engine

In motion

Page 71: Creating Conversation Worthy BUZZ
Page 72: Creating Conversation Worthy BUZZ

Don’t let your first day of social be “not so good”

source | Scott Adams Dilbert Cartoons @dilbert.com | 09-13-10

Page 73: Creating Conversation Worthy BUZZ
Page 74: Creating Conversation Worthy BUZZ
Page 75: Creating Conversation Worthy BUZZ
Page 76: Creating Conversation Worthy BUZZ
Page 77: Creating Conversation Worthy BUZZ
Page 78: Creating Conversation Worthy BUZZ

Know your talkers

Give them something

Make it easy to share

And always remember…

Word of mouth marketing basics…

to talk

about

Page 79: Creating Conversation Worthy BUZZ
Page 80: Creating Conversation Worthy BUZZ

Let’s Connect Twitter: @NW_Mktg_Guy

Facebook: Rod Brooks

Linked In: Rod Brooks

Blog: www.rodbrooks.com

Page 81: Creating Conversation Worthy BUZZ