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Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
Elasticity on Digital Word of Mouth
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Elasticity on Digital Word of Mouth

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January 18, 2011

January 18, 2011

Published in: Business, Technology
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  • 1. Digital Word of Mouth<br />January<br />18<br />2011<br />
  • 2. “<br />There is no longer social media and traditional media. It is all media now. There are only social tools.<br />
  • 3. “<br />Social media is not a campaign.It’s a commitment.<br />
  • 4. “<br />Focus on how to BE social.Not on how to DO social.<br />
  • 5. Agenda<br />A resurgence of Word of Mouth (WOM)<br />The fundamentals of digital WOM<br />Putting the social tools to practice<br />Triangulate for kinetic potential<br />In the end, it’s about content<br />
  • 6. The average person is exposed to over3,000 marketing messages per day.<br />
  • 7. “<br />“<br />78% of people<br />trust the recommendations of their peers<br />Only 14% ofpeople trustadvertisements.<br />- Nielsen, “Trust in Advertising”<br />
  • 8. “<br />The right tool for the job…<br />
  • 9. Elasticity Capabilities<br />Face-to-face Conversations<br />Mobile Marketing<br /><ul><li>A</li></ul>Social <br />Networks<br />Search<br />Personalized<br />Online Communities<br />Blogs<br />Direct Mail<br />Rewards <br />Programs<br />Online Display Advertising<br />TRUST<br />Targeted<br />Online Brand Content<br />Personalization<br />Opt-in E-mail<br />Print<br />Media Relations<br />Radio<br />TV<br />Mass<br />Trial<br />Advocacy<br />Awareness<br />Loyalty<br />Consideration<br />Relationships<br />Digital <br />Traditional<br />
  • 10. The evolution of Media<br />Broadcast<br />Centralized control; broad message deployment<br />Narrowcast<br />Centralized control; specific message deployment<br />Networked<br />Decentralized control; fluidity; dynamic message deployment<br />
  • 11. We’re in the Age of WOM<br />WOM has always been the world’s most effective form of marketing<br />Left behind for mass reach<br />Social media has sparked a resurgence of interest in WOM<br />
  • 12. The New Math<br />Old: Message 5,000,000 to possibly reach 500<br />New: Personally reach 500 who influence 5,000 who influence 20,000 who influence 200,000<br />Organization <br />New Math: <br />5,000 people who want to hear your message are more valuable than <br />5 million who don’t. <br />
  • 13. The decline of brand marketing is the 900 pound gorilla in the room.<br />
  • 14.
  • 15. THE FUNDAMENTALS<br />“<br />Success in neither magical or mysterious. Success is the natural consequence of consistently applying the basic fundamentals.<br />- Jim Rohn<br />
  • 16. Types of WOM Marketing<br />ORGANIC WOM<br />Occurs naturally as a result of the positive qualities of your product/brand<br />AMPLIFIED WOM<br />WOM that is intentionally started through a proactive campaign.<br />
  • 17. Three Rules of WOM Marketing<br />BE INTERESTING:<br />Give people a reason to talk about you.<br />Be interesting or be invisible.<br />MAKE IT EASY<br />Help WOM spread. Give them the tools.<br />MAKE PEOPLE HAPPY<br />When people like you, they’ll share your message.<br />
  • 18. Key Themes<br />Conventional Wisdom: “You’re losing control of your brand”<br />To the contrary – you CAN moderate<br />WOM must be co-created and nurtured in coordination with consumers<br />Integrate WOM into all consumer touch points<br />Always capture information for future contact<br />Like a good salesman, always ask for the next step.<br />
  • 19. The Psychology of WOM<br />Reciprocation<br />Commitment and consistency<br />Don’t try to be cool<br />Liking <br />Authority<br />Information brokers<br />
  • 20. WOM Checklist: Four Elements<br />Talkers:<br />Who will tell their friends about you?<br />Message:<br />What will they talk about?<br />Tools:<br />How can you help the message spread?<br />Measurement:<br />How will you monitor and measure?<br />
  • 21. THE REAL QUESTION IS…<br />
  • 22. “<br />Why would anyone want to talk about YOU?<br />
  • 23. “<br />People talk about you when it benefits them.<br />
  • 24. “<br />Activate your fans, don’t just collect them like baseball cards.<br />
  • 25. They’ll talk about you if…<br />It makes them look smart<br />It enables them to help others<br />It allows them to feel important<br />It enables connection to a group<br />Detractors will talk if they have a bad experience<br />
  • 26.
  • 27. Myth-Busting<br />People will want to watch your branded content<br />People will be patient with your content<br />People will findyour content<br />The Internet is a level playing field<br />We have no idea why things “go viral”<br />
  • 28. Myth-Busting<br />Experience beats documentation<br />You should build your own community and tools<br />Keep things professional<br />Traditional media is irrelevant to the web<br />People will create good content for you<br />
  • 29. Triangulate to Create Kinetic Potential<br /><ul><li>Utilizing a mix of tactics that balance and blend both online and offline tactics, you give every program the potential to gain viral potential in the popular conversation.
  • 30. Optimizes current channel tactics and amplifies the program as a whole.</li></li></ul><li>MEASUREMENT<br />“<br />Design the measurement strategy based on your objective, not the technologies you use.<br />
  • 31. Measurement<br />Supporting<br />Listening<br />Talking<br />Energizing<br />Embracing<br />User Reach<br />User Reach<br />Volume of Participation<br />Quality of Participation<br />Volume of Energy<br />Quality of Energy<br />
  • 32. Measurement<br />Extent of exposure to our content and message.<br />Amount of engagement or interaction with our content<br />Degree of influence of or change in perceptions and attitudes.<br />Amount of actions taken as a result of the program.<br />Amount of tangible, business value created (revenue or savings).<br />Examples:<br /><ul><li>Impressions
  • 33. Search rank
  • 34. Brand mentions
  • 35. Share of positive discussion
  • 36. Count of followers, fans
  • 37. Unique visitors</li></ul>Examples:<br /><ul><li>Time on site
  • 38. Return visits
  • 39. Inbound links
  • 40. Subscribers
  • 41. Comments
  • 42. UGC Sentiment
  • 43. Re-Tweets
  • 44. Avg. comments/post
  • 45. Likes per status update</li></ul>Examples:<br /><ul><li>Purchase consideration
  • 46. Change in attitudes
  • 47. Associate with brand attributes
  • 48. Net promoter score
  • 49. Review sentiment
  • 50. Avg. rating</li></ul>Examples:<br /><ul><li>Event attendance
  • 51. Coupon download
  • 52. Visit retail store
  • 53. Lead generation</li></ul>Examples:<br /><ul><li>Revenue generated
  • 54. Savings realized
  • 55. Direct attribution (unique codes)
  • 56. Correlations
  • 57. Survey methodologies</li></li></ul><li>“<br />And in the end…<br />
  • 58. IT’S ABOUT CONTENT<br />“<br />Every company is its own TV station, magazine, and newspaper.<br />
  • 59. Social Media is Content Marketing<br />Creative<br />It’s a 24-hour content cycle. You’d better have something to break through the noise of the conversation.<br />Brand Building<br />Content and conversation define a brand more than a new logo or a press release.<br />Engaging<br />Inspire feedback. This is not a copywriting assignment.<br />Relevance is Redefined<br />To create conversation, simple, random and banal may be a brand’s best bets.<br />
  • 60. “<br />Create a persona. Not a proposition.<br />
  • 61. Digital Word of Mouth<br />January<br />18<br />2011<br />

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