Engagement: The Key to Success in 2010
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Engagement: The Key to Success in 2010

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While many companies struggled to maintain their figures over the last year to eighteen months, others have grown - even in these tough economic times. One significant factor in their success appears ...

While many companies struggled to maintain their figures over the last year to eighteen months, others have grown - even in these tough economic times. One significant factor in their success appears to be the level of engagement with customers and stakeholders.

Sally Falkow (APR) Social Media Strategist at Expansion Plus, and Rebecca Lieb, VP North America, Econsultancy will discuss research that shows how important engagement has become and how it is tied to financial success.

They'll present case studies that show that this applies just as much to small and medium businesses as it does to large corporations.

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Engagement: The Key to Success in 2010 Presentation Transcript

  • 1. Engagement:  The key to success in 2010 How engagement affects your bottom line
  • 2. Presenters • Sally Falkow PR Trainer of the Year • Rebecca Lieb VP, Econsultancy.com
  • 3. Why Engage? “If we trust our customers, we can actively listen to  what they’re saying.  “We can build the right product for our customers,  instead of finding the right customers for our  products.” − Steven Covey, author, The Seven Habits of Highly Effective People
  • 4. ENGAGEMENTdb Study Key finding: those companies with the highest  engagement factor also had the best financial  results over the last year
  • 5. What is Engagement? • We’re not talking about a presence in the online  social sphere • It’s not using these channels to broadcast messages • Engagement is deep and meaningful social  interaction with your stakeholders
  • 6. What Shows Engagement? • People talking about your brand/product/company • Storing and sharing content • Visiting more frequently • Giving feedback • Leaving comments • Referring your company to their friends • Loyalty to your brand
  • 7. Benefits of an Engaged Customer • The type of behavior most likely to help  organizations is the recommendation of product,  service or brand • However, marketers are benefiting more from the  relationship‐building aspects of customer  engagement, rather than the more direct financial  benefits
  • 8. Interest in Customer Engagement
  • 9. Entrepreneur Magazine’s “Hot 100” • 26 percent of these companies are active on Twitter • 37 percent are on LinkedIn • 11 percent have a Facebook page • Just over a half have a newsroom on their website • Only 7 percent optimize their news content for  search • Just 16 percent are actively engaging their  customers
  • 10. Inc. Magazine’s 500 • 25 percent are active on Twitter • 46 percent are on LinkedIn • 31 percent have a Facebook Page • 19 percent are engaging with customers
  • 11. Fortune 100 • 54 percent have a Twitter feed • 94 percent use it for news and announcements • 47 percent are on LinkedIn • 32 percent have a blog • 44 percent have a Facebook page • Only 17 percent use all three • 22 percent are actively engaging customers
  • 12. CMO Engagement Gap The engagement gap refers to the difference  between the influence of the internet  in consumer decision‐making and the amount of  spending, and effort, by corporations and  organizations in trying to interact with and shape  the thinking behind those decisions
  • 13. Key Finding The move to quantify “customer affinity” and  increase “customer advocacy” has become a new  measure of effectiveness ‐‐ CMO Council
  • 14. Focus on the Bottom Line • Most marketers and corporations are now looking to  reduce costs in order to improve the bottom line • Current economic indicators point to a vital need for  business revitalization through better customer  engagement and analytics  ‐‐ CMO Council
  • 15. New Measurement of ROI:  Engagement • There are thousands of social media channels,  each with a slightly different value proposition  • It’s a daunting task to objectively evaluate various  marketing efforts across all social mediums  • Engagement is the best criterion  − The Wetpaint/Altimeter Group ENGAGEMENTdb Report
  • 16. Engagement As the number of channels increases, overall  engagement increases at a faster rate
  • 17. Engagement:  The Lifebelt Companies that are both deeply  and widely engaged in social  media surpass their peers in  terms of the two most  meaningful financial  performance metrics – revenue and profit – by a significant difference − The Wetpaint/Altimeter Group
  • 18. What is the Bottom Line? • These highly engaged companies grew, on average,  18 percent in revenues over the past 12 months,  compared to the least engaged companies who, on  average, saw a decline of 6 percent in revenue  during the same period  • The same holds true for two other financial metrics,  gross margin and net profit − The Wetpaint/Altimeter Group
  • 19. Why You Need a Strategy • Engagement can’t be skin‐deep, nor is it a  campaign that can be turned on and off • True engagement means full engagement in the  channels where you choose to invest • So make sure you pick correctly and wisely
  • 20. Revenue and Profit Those brands that are deeply engaged have  sustained strong revenue and margin growth in  spite of the current economy
  • 21. Starbucks • Small team of 6 people • Launched MyStarbucksIdea.com • Involve people throughout the organization • Understand the various channels of engagement • Consistency of approach and experience • C‐suite champions
  • 22. SAP • 35 people on social media team • Managing a community of 1.7 million users • Opened the platform to anyone and everyone • Two‐thirds of contributors represent customers,  thought leaders, analysts, and partners from the  broader SAP ecosystem • Encourage employees to use social media for work • Engage in new channels where people already are
  • 23. Dell • Started from crisis mode – “Dell Hell” • Very conversational • IdeaStorm.com • Social media becomes part of the job – like email • Synchronized content across channels • Went from worst to first
  • 24. The Strategy • Listen to your customers, users, readers and  stakeholders • Find detractors and evangelists • Learn from them • Let them contribute • Be open to their ideas and comments • Respond, answer comments
  • 25. Find Communities and Identify Influencers 26 in Head 600 Beauty Bloggers 106 in Magic  460 in  (US only) Middle Long  Tail Top 60 Map
  • 26. The Strategy • Use what you learn in the listening phase • Find the right influencers for your space • Audit your current content assets • What can you make digital? • What tools make sense?
  • 27. Find Communities and Identify Influencers Magic Middle Map Cluster View Brand View 1 Color = 1 Cluster Orange=Lancome, Green=Clinique,  Yellow=Both, Blue=None
  • 28. Engagement What will engage your audience?
  • 29. Engage and Facilitate Conversations Engage for Track your Best ROI engagement
  • 30. Engage and Facilitate Conversations Share of voice  Share of conversation Share of mind
  • 31. Case Study:  David’s New “Rock‐and‐Sling” How Service‐now.com is Beating Goliath
  • 32. Service‐now.com Two Years Ago • Great product, visible CEO, early customer wins • Limited: • Collateral • Tradeshow footprint • Webinar activity • PR • Lead generation limited to cold calling and four  industry events • No social media
  • 33. Situation • Competing against Goliaths • The Gmail of big business service desk software • “Sling” = disruptive technology • “Stones”= customer champions • Rapid growth
  • 34. Campaign Research • Listening to prospective customers • Knowing the buyers • Knowing the competition  • Finding the “slings” to make headway in the market • Identifying market champions to tell their stories
  • 35. Sources of Exposure ITtoolbox analysts whitepapers email social media press website sales webinars prospecting topical /  demo list imports online community demo regional wiki industry events exec local user groups events briefings
  • 36. Social Media Levels the Playing Field • Mass media have changed ▪ Print newspapers ▪ Magazines or pamphlets? • Marketing is questioned ▪ Who do you trust? ▪ LinkedIn is social media‐speak for Rolodex ▪ The power of a customer reference ▪ A plug at a trade show • Information has been democratized and individualized ▪ One‐to‐many is now one‐to‐one ▪ This is Web 2.0
  • 37. Battlefield Strategy Legitimacy + authenticity = relationships • Identify yourself • Be respectful • Stranger danger • Add value • Permanency can be good and bad • Stay relevant • Listen to the market
  • 38. “Slings” • Blogging Community, Wiki, Forum Create content, link, tweet, comment, repeat  Policies regurgitate common social sensibilities Encourage customers and partners • Twitter Microblogging Getting started • Your Twitter name • See who other people are following • Follow folks and engage • What aren’t you doing? • A sampling of others: Facebook, LinkedIn, YouTube, Slideshare
  • 39. Current FY goal = $50M+ $28M $13.9M $8.8M $1.8M FY 06 07 08 09 10 market market entrance entrance solid product solid product leading leading customers ITSM provider customers ITSM provider redefined redefined market market ITSM ITSM standard standard orchestrate orchestrate ITSM ITSM
  • 40. white papers webinars industry events web Q4 ’07 Q1 ’08 Q2 ’08 Q3 ’08 Q4 ’08 Q1 ’09 Q2 ’09 Q3 ’09 registration
  • 41. What’s Next? • Press releases take on a different role • Industry validation • Lead generation and promotion efficiencies • Global and regional events – to go where they are • Monthly newsletters • Video training
  • 42. Syndicate the Content Add RSS Feeds
  • 43. Court Social Media Traffic
  • 44. Case Study:  Skin MD Natural
  • 45. Situation • Launching a new kind of lotion • New category • No public awareness at all
  • 46. Campaign Research • Consumers are using search engines to research  products and services  • The most trusted forms of advertising today are  word‐of‐mouth from other consumers, opinions  posted online and branded websites  • One of the top five influences prior to purchase is  reading an article 
  • 47. Objectives • The campaign aimed to reach consumers online  through high search rankings on specific keywords  and phrases, articles, blogs, newsgroups and  forums • Create a new search term – “shielding lotion” • Create awareness of the brand Skin MD Natural  with dermatologists and the public
  • 48. Consumer Education
  • 49. Payoff • More than 400 bloggers talking about their products • Conversations in targeted forums and blogs • Increased traffic to the website • Product in over 5,000 pharmacies across the US • Partners in many other countries
  • 50. Engagement is the Key Current economic indicators point to a vital need  for business revitalization through better  customer engagement and analytics 
  • 51. White Paper Download now at: www.marketwire.com/mkt/PDF/Marketwire_White_Paper_Engagement.pdf or: download from thank‐you email
  • 52. Resources • Expansionplus.com • Press‐feed.com • Proactivereport.com • sallyf@expansionplus.com • Marketwire.com • Marketwireblog.com • www.SM10X30.com
  • 53. Q & A