Social Marketing for Entrepreneurs


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PRESENTED: 11/19/09 at the Vancouver Entrepreneur Meetup

AUDIENCE: Entrepreneurs, solo practitioners, marketers for startups; who are interested but not yet heavily involved in social media

This presentation covers:
- How culture shifts are forcing a shift in the marketing practice
- How entrepreneurs must approach their markets
- Some free tools for engaging with your customers

Published in: Business, Technology
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  • People ask me if their business should be represented on social channels. I ask them if they thought it helped businesses to be near the freeway.
  • Most marketers don’t see the signs; those who do aren’t sure how to adaptPeople are change-averse
  • In fact, when it comes to advertisers, guess what the term is most closely associated with “advertising”? FALSE. This is totally something we need to be aware of and addressing: a lack of trust in advertising. What’s the point if no one trusts what we’re saying? That’s not the kind of profession I want to be in: one where I’m distrusted and considered to be misleading.
  • Before I can see Oprah announce that she’s planned her final show, I have to waste 15 precious seconds watching something about a toothpaste that I have not chosen. Does this engender trust?
  • Spent $50,000 on social marketing efforts for BK Sacrifice Facebook applicationReceived $400,000 in media value32MM free media impressions (equal to combined population of 19 states)
  • Grew his family’s neighborhood liquor store and wine business from $4MM to $50MM using social media – in 3 yearsSpent $15K in DM to get 200 new customersSpent $7.5k on outdoor advertising and got 300 new customersSpent $0 on Twitter and got 1800 new customers
  • Blog, FB, YouTube to connect. Results: 2MM impressions, 2300 new accts, $4MM in new deposits.
  • Social Marketing for Entrepreneurs

    1. 1. Social Marketing is the New Marketing<br />And why you need to represent.<br />ERIC WEAVER | TRIBAL DDB<br />19-NOV-2009<br />
    2. 2. 2<br />Excess hype, overshare, pokes, &quot;how well do you know me&quot; quizzes and stalkers. Why would I use this for biz?<br />
    3. 3. 3<br />?<br />I don’t have a lot of money, especially now. I keep hearing about social media. Is this a fad? Do these efforts actually work? The conversation seems so shallow. Who&apos;s got time to manage all this?<br />Srsly?<br />
    4. 4. People ask me if their business should be using social media<br />And I say, I don’t know, is there more business near the freeway?<br />
    5. 5. Create a business plan<br />Create a brand identity<br />Get the word out!<br />Bringing your baby to market<br />Create a marketing plan<br />Create business cards, pamphlets, website<br />
    6. 6. 6<br />Outbound mktg is a $1TT machine. Each niche = a full industry. We&apos;re rewarded for storytelling/ intrusion/repetition. Unchanged in 150 yrs.<br />6:41 PM Oct 21 from PowerPoint<br />
    7. 7. Back in the day<br />Limited product choice<br />Limited media channels<br />Longer brand interactions<br />Higher barriers to entry<br />7<br />
    8. 8. Customer shifts<br />
    9. 9. HIGH NOISE<br />You’re competing for time/attention with huge marketing budgets, bloggers, crises<br />HIGH CHOICE<br />Customer choice is largely off the charts. Plus, we can find anything we want through Google<br />The new realities<br />LOW TRUST<br />Consumers in particular distrust advertising/marketing<br />LOW TIME/ATTENTION<br />Very few people have time for your marketing message!<br />
    10. 10. But marketing is stuck in the past<br />
    11. 11.
    12. 12. 12<br />
    13. 13. ESPECIALLY WHEN THERE’S RISK<br />People turn to peers when time is short, risk is greater<br />WE TRUST PEERS THE MOST<br />(57%);13% trust advertisers/marketers (least trusted group)<br />Trust<br />drives transactions<br />PEOPLE BUY TRUST<br />Trust drives preference: 91% buy from trusted companies; 77% refuse to buy from distrusted<br />TRUST IS WIDELY SPREAD<br />56% age 35-64, 63% 25-34 share trust/distrust on the web<br />EDELMAN TRUST BAROMETER<br />
    14. 14. 14<br />
    15. 15. So…<br />Does it make sense to spend money on traditional advertising when people don’t want it?<br />Does it make sense to spend money to compete against larger offerings?<br />Why use methods that create distrust?<br />Why ask for scarce time and attention without giving something of value in exchange? <br />Why not leverage the most trusted channel—peers—instead of the least trusted—advertising?<br />
    16. 16. The approach is easy.<br />BE FOUND at the end of a search<br />PROVIDE VALUE at the end of that search<br />If you don’t give, you won’t get (time, attention)<br />CREATE TRUST at the end of that search<br />
    17. 17. Social marketing<br />A shift in focus from crafting a message and spamming it out everywhere to allowing the market to engage with your offering<br />Leverages peer trust to drive awareness and sales<br />The market becomes your sales force<br />You’re at the end of a search, not an interruption along the way<br />This is a hard thing for baby boomers (40+) to understand. Why?<br />
    18. 18. 18<br />GENS X&Y = affinity. Formalities ignored, sharing means finding, tech is easy, random is life. Consider your lens. Suit & tie = distrust.<br />2:57PM Oct 21 from PowerPoint<br />BOOMERS = propriety. Trained in formalities, don’t offend, guarded means safe, not so great with “random.” Suit & tie = trust.<br />2:57 PM Oct 21 from PowerPoint<br />
    19. 19. Your offering’s social efforts<br />Create digital marketing materials for the end of the search<br />Shareable, downloadable, bookmarkable<br />Optimized for search with keywords, tags, intended audience<br />Printable<br />Reinforce trust<br />Real testimonials are MONEY<br />Show your hard-won expertise, life lessons, vision for your category<br />Inject some personal into the professional<br />Enable customers to talk about your offering<br />Comments, rankings, social sharing<br />Respect time starvation<br />Short, sweet, to the point<br />
    20. 20. Step up your own personal social efforts<br />YOU are as much a part of your brand as the company is<br />You provide a backbone of trust or distrust in the offering<br />People want to connect with people more than brands<br />Gens X and Y trust others less when they’re opaque with their information<br />Share a bit of personal data to build trust<br />There is a line! Decide where to draw the line between professional and personal, good sharing and oversharing<br />Own your $#%@<br />If you have experiences where you have damaged others’ trust, make a nod to them before others do<br />Disarms naysayers, engenders trust<br />
    21. 21. STILL NEED A BRAND!<br />What’s your promise? Your unique value? Your primary differentiation? The benefits you’ll always deliver?<br />BE TRANSPARENT<br />About everything except that which must be kept secret<br />The new marketing means…<br />NO MORE SET & FORGET<br />Dialogue requires feedback mechanisms, time, effort and good conversational skillz<br />IT’S BOTH ONLINE & OFF<br />Online lets you be found; offline provides final chemistry/trust check<br />
    22. 22. Web marketing, circa 1996<br />Email marketing, 1995<br />“But I don’t have time for one more thing!”<br />Learning the computer for graphic design, 1986<br />Telemarketing, 1977<br />
    23. 23. This qualifies as a “profound shift.”<br />There are over 300,000 businesses now on Facebook.<br />More than 750,000 people join Facebook every day.<br />Twitter grew 1382% between Jan/Feb 2009.<br />Companies that utilized social media had an average 18% increase in sales in 2008.<br />Those with least social media: decrease of 6%.<br />Only 18% of traditional TV campaigns generate a positive ROI.<br />Economist, 2008: 75% of business executives think that increased market engagement will translate into higher profits.<br />49% think that inadequate engagement was responsible for up to ¼ of all lost sales.<br />
    24. 24. Example: Burger King<br />Spent $50,000 on social marketing efforts for BK Sacrifice Facebook application<br />Received $400,000 in media value<br />32MM free media impressions<br />Equal to combined population of 19 states<br />
    25. 25. Example: Gary Vaynerchuk<br />
    26. 26. Example: Servus/Commonwealth CU<br />
    27. 27. 27<br />Growing revenue is not about a clever tagline, an elegant logo, being a better nuisance, or showing up in unexpected places. It’s about PEOPLE TRUSTING YOU.<br />
    28. 28. 28<br />BUILD PROOF POINTS. Demonstrate u know ur stuff, a vision for sector/mkt, that others took a chance & benefitted, that ur ethical, easy, trustworthy. <br />7:12 PM Oct 21 from PowerPoint<br />EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU. Give customers a voice. Amplify their words. Make value sharing effortless.<br />7:13 PM Oct 21 from PowerPoint<br />DON’T KILL TRUST W/INTRUSION: Don’t interrupt search. Be found/referred. Don’t talk abtur value, demonstrate it.<br />7:12 PM Oct 21 from PowerPoint<br />
    29. 29. It’s not about just “being on social media”<br />29<br />Look for and target ur organization’s trust soft-spots. Rebuild trust there w/proof pts. Be real. Take fodder from conspiracy theorists.<br />
    30. 30. Soft-spots in trust: would you still hire someone after this?<br />7:16 PM Oct 21 from PowerPoint<br />
    31. 31. Okay, I get the Why. Now, how do I get started?<br />
    32. 32. 32<br />THOUGHT STARTERS, BLOGGING: CEO media/invstr relations; industry trends/insights; legislation impacts<br />
    33. 33. 33<br />THOUGHT STARTERS, TWITTER (here, now): crisis PR, timely insights, content alerts, community bldg, event notices<br />
    34. 34. 34<br />THOUGHT STARTERS, VIDEO: great for intensive learning, how-to vids, personality pieces, company storytelling, humor<br />
    35. 35. 35<br />THOUGHT STARTERS, AUDIO: great for distracted learning, storytelling, conversational thought ldrship, testimonials, sensory experiences<br />
    36. 36. 36<br />THOUGHT STARTERS, WIKIS: great for event planning, product developing, crowdsourcing ideas, shared learnings, distributed wk-in-progress<br />
    37. 37. 37<br />THOUGHT STARTERS, WIDGETS/APPS: get your content into more places, allow engagement w/o leaving venue, aggregating valuable content<br />
    38. 38. 38<br />THOUGHT STARTERS, SOCIAL VENUES: brand awareness, community/CSR discussions, loyalty programs, consumer feedbk/trials/testing<br />
    39. 39. Some free and easy tools for reprezentin’<br />39<br />
    40. 40. Simple, free tools for reprezentin’<br />40<br />
    41. 41. Qapacity<br />41<br />
    42. 42. 42<br />
    43. 43. 43<br />
    44. 44. 44<br />
    45. 45. 45<br />
    46. 46. 46<br />
    47. 47. 47<br />
    48. 48. LinkedIn Q&A<br />48<br />
    49. 49. 49<br />
    50. 50. So. Where does that leave us?<br />50<br />
    51. 51. 51<br />One more thing for marketers to do: more like engagingur market where they prefer to be. How’d that last trade show budget work out?<br />7:27 PM Oct 21 from PowerPoint<br />Social media is so NOT a fad. Google gave us search. SocMed gave us sharing, connecting. Consumers will not give up this ability.<br />7:26 PM Oct 21 from PowerPoint<br />Its rapid adoption shows that we are time-starved creatures who want to be found by like minds.<br />7:26 PM Oct 21 from PowerPoint<br />
    52. 52. 52<br />Build trust by being found, demonstrating your knowledge, your vision and offering proof of trustworthiness.<br />7:28 PM Oct 21 from PowerPoint<br />Finally, use social marketing to leverage the EXISTING TRUST already established between peers, rather than buying new trust.<br />7:29 PM Oct 21 from PowerPoint<br />RECAP: Rethink yourmarketing approach (and your personal brand) from a prospective of trust and with a wider lens.<br />7:28 PM Oct 21 from PowerPoint<br />
    53. 53. THANK YOU! AND QUESTIONS.<br /> <br /><br /><br />