The Facebook Era
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Transcript of The Facebook Era
The Facebook EraPreparing for a New Kind of Customer Relationship
Clara ShihAuthor, The Facebook EraCEO, Hearsay Labs
October 15, 2009
“The Facebook Era recognizes that we’ve come to a place where people can represent their real identity—and use the social filters on the Web to connect with the world around them.” —Sheryl SandbergChief Operating Officer, Facebook
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Practice what we preach
@clarashih#EEC09
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Agenda
Trends and Numbers
New Consumer Psychology
Rethinking Sales and Marketing
Q&A
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The trends and numbers
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Welcome to The Facebook Era
On Facebook alone . . .
Over 300M active users
8 billion minutes spent each day
1 million developers from 180 countries
is email dead?
PUBL
ISH
CONSUME
1-1 1-many
many-to-many
everybody-to-everybody
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Winning mainstream audience appeal
Source: Nielsen Online Global Index, Dec 2008
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Facebook’s growth just keeps going
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CMO Council – March 2009
“ Digital marketing and new media dominates demand generation and advertising spend allocation priorities for the coming year, with budgets aimed at online and Web 2.0 initiatives almost 50% higher than spend earmarked for traditional media. ”
CMOs are shifting dollars to social media
Three Pillars of Facebook Marketing
Facebook Apps Facebook Pages Facebook Ads
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The new consumer pyschology
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Why Facebook was different
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Facebook as a forum for online identity
Photos and interests
Demographic info
Employer, school, city
Friends
Socially acceptable to share
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Facebook Connect extends trusted identity to any website
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Example. http://thefacebookera.com
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Due diligence expected
Personalized interactions
Transitive trust
As a result, user expectations have changed
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Facebook and Twitter invented new modes of communication
Casual
But emotional
Foster weak ties
Capture long tail
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Rethinking Sales & Marketing
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Sales: The Power of Transitive Trust
Qualify leads early
Low-cost way of staying in touch
Build personal rapport
Navigate buyer orgs
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Sales: Prospecting Friend-of-Friend Networks
Example:
Aster Data Systems
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Customer Service: Crowdsource to Your Customers
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The ultimate opt-in marketing channelsExample
Dell Outlet moved $2M in inventory over Twitter last year
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Marketing: The power of hypertargeting
Minimize wasted ads
Latent interest
Test new segments and
messaging
Fifty percent of my advertising is wasted, I just don’t know which fifty percent
“
”
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Marketing: The power of referrals
Word of mouth automated
Existing customers = your sales force
Search.twitter.com
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eMarketer: Endorsements from friends matter most
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Social Customer Lifetime Value (sCLV)
Social CLV = CLVold + Word-of-mouth referrals + Customer support cost savings + Sales resulting from idea contributions
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Thank you
Stay in touchhttp://facebook.com/thefacebookera
RELEASED APRIL 2009Featured in The New York Times