Driving sales 10 14-09

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© 2009 Powered, Inc. Social Media – Where it Works in Business and Does it Fit in Automotive? October 14, 2009

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© 2009 Powered, Inc.

Social Media – Where it Works in Business and Does it Fit in Automotive?

October 14, 2009

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What We’ll Cover

What is social? What isn’t social Best practices

– Strategy– Listening– Great content– Ongoing management / fostering of conversation– Measurement

Case studies– Edmunds– Sony– Breaking Point Systems

Getting started

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Who Am I and Why do You Care?

I work for a company called, Powered. We’ve been buildingbranded online communities and delivering social strategies that drive

measureable business results for 10+ years.

Est. 1999, headquartered in Austin, TX

Expertise in marketing, social strategy & community development

Full-service consulting & execution

Integrate social marketing as a central component of the marketing mix to optimize overall marketing spend

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What is Social Media?

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It Feels Like it’s All About the Tools…

Image courtesy Brian Solis

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Definition According to Wikipedia

Social media: content created by people using highly accessible and scalable publishing technologies. At its most]basic sense, social media is a shift in how people discover, read and share news, information and content. […] Social media has become extremely popular because it allows people to connect in the online world to form relationships for personal and business. […]

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The REALLY Important Words

Social media: content created by people using highly accessible and scalable publishing technologies. At its most]basic sense, social media is a shift in how people discover, read and share news, information and content. […] Social media has become extremely popular because it allows people to connect in the online world to form relationships for personal and business. […]

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What isn’t Social Media?

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This is NOT Social

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This is ALSO Not Social

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Nor is this Social

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Some Best Practices

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This….

In “social,” there are 2 critical factors that separate:

& THIS

Audience-focused StrategyIt’s not about you. It’s about them.

Killer ContentNOT: ‘copy,’ messaging, press releases, product demos

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“Social” strategy involves planning

• Align with business goals

• Content map (what, where, how often, by whom)

• User experience

• Calls to action

• Development plan

• Social syndication & promotion

• Measurement & data collection

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Listening is VERY Important

Why can’t I ever get through tocustomer service?!?

We like you but…I’m recommending you to everyone I know. ;)

What is wrong with you guys?

You are 100X better than the

competition!!!

You suck!

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Content: Diversify based on audience needs

Sample subject: Running

Subject Breadth

Subject Depth

If you don’t know your audience’s preferences, start small and test - or just ask them.

article tutorial

workshop

video

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Content: The 7 commandments

To create killer content, thou shalt…..

1. never (ever, ever, ever) create infomercials.

2. align content strategy to (community) business objectives.

3. be realistic about the community’s propensity to contribute content and commune.

4. offer depth and breadth of content topics.

5. acknowledge differences in learning styles and diversify formats.

6. keep the content fresh and relevant but create (some) content that will have a long life.

7. listen to your audience and optimize to meet their needs.

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Successful communities must be nurtured

February 2008 Forrester: “Online Community Best Practices”

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And then Comes Measurement

Community Key Performance Indicators

• % more likely to recommend your brand

• Community referrals• Social syndication

• Actual online transactions & revenue

• Reported purchases

• % of clicks to brand products• % More likely to purchase• % Planning to purchase

• % return visitors• % retention year to year• Share of household/wallet• Planned brand purchases

• Community registrations• E-mail opt-ins• Time per visit

Content optimization measures: Views, clicks on calls-to-action, ratings, survey feedback

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How About a Few Case Studies?

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Edmunds.com Case Study

Good example of a dealership using Dealer Ratings & Reviews. They regularly send out emails to new customers asking them to write a review. They currently have 22 sales reviews and 2 service reviews

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Edmunds.com Case Study

Where many salespeople engaging in conversations (not soliciting but really helping people understand pricing and packages).  There are customers that actually go out of state to buy from a salesperson who's been a regular helper in the Forums.  People go with who they trust!

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Edmunds.com Case Study

Customers can see profiles of the other customers or sales people from whom they are getting answers

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Edmunds Case Study

Goal

Dealers can drive trust and engagement leading to increased sales.

Results

• Increased reviews on dealership and service

• Direct leads resulting from online relationship building

• Better understanding of what customers are looking for

Why

• Edmunds focuses on creating valuable content and meaningful conversations where brands, dealers, experts and customers can come together

• Sales and service people like because they can subscribe to alerts on specific categories they like to answer questions on.  They can also build their own Expert widget to have on their dealership site or blog.

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Sony Case Study

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Sony Case Study

Goal

Establish deep relationships, accelerate consideration & drive loyalty & advocacy

Results

• 388% increase in the number of user engagements

• 34% growth in member registration / 31% increase in unique visits

• 179% more repeat visits

• 78% of users report that they are more likely to purchase a Sony product as a result of Backstage 101

• 59% of users are likely to recommend Sony to a family member, friend, or coworker

Why

• Customer-centric content

• Opportunity to engage in conversations with other customers & Sony employees

• Clear and relevant merchandising against pre-selected segments

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BreakingPoint Case Study

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BreakingPoint Case Study

Goal

Drive leads and awareness through their blog, Twitter, LinkedIn, Facebook, and Youtube

Result

• Less reliance on traditional marketing channels

• Triple digit growth in 2009

• Loyal base of advocates

• Direct relationships with press and analysts

Why

• Explicit value in the content BreakingPoint delivers

• Team of developers, marketers, product people and executives that provide ongoing access to their expertise

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Other Bene’s: Engaged Community & SEO Juice

Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009

Inbound Links

Blog Subscribers

Twitter

LinkedIn

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Getting Started

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Getting Started

1. Listen – what are your customers saying? Where are they saying it (think: Google Alerts, Radian6, Techrigy, BuzzGain)

2. Align – What do you want to use social for? Customer research? Sales? Product innovation. Make sure your social efforts align with your corporate goals

3. Include – Make sure you get Legal/Compliance on board early and often. They can help you guide & craft your social policy.

4. Join – are your customers on Facebook? Twitter? Get Satisfaction? Sign up (but learn the etiquette first).

5. Engage – Talk to your customers, prospects, partners and even detractors.

6. Create – Don’t forget the “Killer Content.”

7. Measure – Ignore this step at your peril. You may be doing a great job but you’ll never know if you don’t measure.

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THANK YOU!

Aaron Strout

CMO, Powered Inc.

Blog: http://blog.stroutmeister.com

Twitter: http://twitter.com/aaronstrout

E-mail: [email protected]