Social media has fundamentally changed the way we communicate with one another, and has changed the relationship we have with institutions. Here are 5 rules of effective sales and marketing in the
Social media has fundamentally changed the way we communicate with one another, and has changed the relationship we have with institutions. Here are 5 rules of effective sales and marketing in the Facebook Era.
(How did I come to know this would become a phenomenon?) Facebook is CRM. Visiting grandmother in Hong Kong noodle shop- 2007 (4m) active user. [Visual: Noodle Shop in Hong Kong]
(What are we talking about?) What is “social business”? [Visual: Illustrate using our Social Media Enterprise Maturity Curve ] Customer service brand page + Customer acquisition via Paid Media Referral/recommendation engine Deepen client relationships
(Why does it matter?) The sociology of Facebook - social networks are fundamentally changing our relationships [Visual: 1-2 stunning social profiles, ideally displayed on computer monitor and an iPad ] our social network profiles are our identity- it’s our online/personal brand- as a salesperson (relationship seller) people expect to see you online. It’s your social validation. For branding reasons, at a minimum you need to be on social. social is dynamic - it gives you the ability to share who you are, not just what you do
(What happened?) Internet 1.0 vs Social Networks [Visual: Geico/Amazon vs ] 1st wave of the Internet - about replacing human capital (eTrade and Geico); disintermediation That’s fine for highly commoditized products and services, but complex financial products require explanation by a trusted advisor What’s exciting about social media technology is it doesn’t replace human capital, it enhances human capital and drives sales productivity Great timing - this phenomenon couldn’t come at a better time- there’s never been greater distrust in big corporations and big media, as a result, trust and influence have devolved from corporations to individuals. -> Today, people ask friends and family for financial advice
(How did this come about?) The evolution of communication: in person meetings-> phone calls -> email -> social media [Visual: Evolution with icons to represent each form of communication] It’s not the first time communication norms have changed. The cost of staying in touch went down with each shift and so our networks have grown. Sociology research - people with bigger networks have more social capital. The personal power to achieve tasks grows. [Visal: Show equation?] Every advance in technology, the cost of staying in touch has decrease, and therefore networks have grown. We have far more relationships when we ever did before. True at a personal level, also true for business, example of salesman door-to-door evolving into call-centers, to email mktg
(So what now?) The ideal role of a sales person (btw social makes this possible) - Social has fundamentally changed the tie between the Relationship seller and the customer [Visual: customer and seller with social networks in between] The relationship sellers’ goal is to be low touch for long enough until it’s necessary to be high touch. Social media allows for that.
In today’s world a social seller’s objectives are exactly the same as they have always been: build network drive thought leadership increase personal brand be easily accessible and findable find proactive signals that show an intent to buy Social media allows this social seller to be more efficient and reach out at just the right time, with just the right message, while building his personal brand and being accessible. Customers expectations have also changed.
Everyone is now on the Marketing Team, from CS to Sales Customers demand engagement where, when, and how they prefer You have no choice but to be customer-centric For commodities, price wins. For everything else, the trusted consultant/advisor wins. How do they win? Great content and great relationships to distribute that content far and wide.
5 Rules of Sales and Marketingin the Facebook EraClara Shih, CEO, Hearsay SocialBoard of Directors, Starbucks CorporationAuthor of The Facebook Era@clarashih