Trust Drives Transactions: a presentweetion for the time-starved

TRUST DRIVES TRANSACTIONS: A presentweetion for the time-starved Internet Marketing Conference Vancouver September 17, 2009 ERIC WEAVER

Excess hype, overshare, pokes, "how well do you know me" quizzes and stalkers. Why would I use this for biz? #annoying 2:30 PM Sep 17 from PowerPoint 2

Client ?’s: is this a fad? Do social mktg e orts actually work? The convo seems so shallow. Who's got time to manage all this? Srsly? 2:30 PM Sep 17 from PowerPoint 3

Let’s look at the business of promoting your business. less than a minute ago - Comment - Like 4

Outbound mktg is a $1TT machine. Each niche = a full industry. We're rewarded for storytelling/ intrusion/repetition. Unchanged in 150 yrs. 2:32 PM Sep 17 from PowerPoint 5

Our customers, however, have changed. Maybe a lot, LOLZ. 2:33 PM Sep 17 from TwitterBerry 6

Where'd they go? Consumers fled to social netwks where they could connect w/like minds on interesting subjects, free from commercialism. 2:34 PM Sep 17 from PowerPoint

For marketers, social netwks looked like a smorgasbord of opportune audiences. OOH YUMMEH! 2:35 PM Sep 17 from PowerPoint 8

What’d we get? Same ol’ same ol’. “Look over here! A chance to WIN!” #yawn September 17 at 2:36pm - Comment - Like - See Wall-to-Wall 9

Traditional ads in social netwks are like #amway salesmen showing up at a cocktail party. Not the right context, kids. #fail 2:38 PM Sep 17 from PowerPoint 10

The waning Outbound Voice: RT @TNSMedia Intelligence US ad spend plunges 14.2%; only online posts growth. 2:39 PM Sep 17 from PowerPoint 11

Four major cultural changes are killing the outbound voice and spurring dialogue. less than a minute ago - Comment - Like 12

CHANGE #1: trust has fallen o a cli . (RT @edelman) 2:42 PM Sep 17 from Edelman Trust Barometer 13

RT @edelman: “banks, automotives, media and insurance hit hardest in US.” Wonder abt schools, cops, doctors (societal pillars) 2:43 PM Sep 17 from from Edelman Trust Barometer 14

CHANGE #2: time starvation, micro-niche interests, endlessly-customizable media options, expecting free information 2:44 PM Sep 17 from PowerPoint 15

#SEARCH: people, products, info, media I care abt; #EXPRESSION via blogs, opinion sites, ratings; #SHARING what we like, or hate About a minute ago - Comment - Like Generally, consumers don’t need advertising, marketing or PR (#TimeToRethink) 2:46 PM Sep 17 from PowerPoint 16

CHANGE #3: the new cacophony. 2:47 PM Sep 17 from culture 17

CHANGE #4: people turn to PEERS when risk is high, more choices to review, less time for research. #remarkable 2:48 PM Sep 17 from PowerPoint 18

Most credible ppl giving me company/product info? 47% believe in PEERS. 13% trust marketers. #wakeupcall #outboundvoice 2:48 PM Sep 17 from 2009 Edelman Trust Barometer 19

Trust isn’t just inﬂuential, it’s widely shared. 56% age 35-64, 63% 25-34 share trust/distrust on the web. 2:49 PM Sep 17 from 2008 Edelman Trust Barometer 20

Trust drives preference: 91% choose to buy from companies they trust, 77% refuse the distrusted. Bottom line: TRUST DRIVES TRANSACTIONS. 2:49 PM Sep 17 from 2009 Edelman Trust Barometer 21

Growing revenue not abt clever, elegant, loud. Not abt tools! Nor Ashton/Oprah. Not abt Social Media change. IT’S ABT PPL TRUSTING YOU. 2:50 PM Sep 17 from PowerPoint 22

How much more would u trust a company for taking action to increase communication and transparency? Positively impact consumers? #proof 2:50 PM Sep 17 from Edelman Trust Barometer 23

So build a trust strategy. Consider where you are distrusted. Decide where you’d like to be. Then, steps to get there. Then execute. less than a minute ago - Comment - Like 24

MINIMIZE TRUST KILLERS: Don’t interrupt search. Be found/referred. Don’t talk abt ur value, demonstrate it. 2:51 PM Sep 17 from PowerPoint REPRESENT! Demonstrate u know ur stu , a vision for sector/mkt, that others took a chance & beneﬁtted, that ur ethical, easy, trustworthy. 2:51 PM Sep 17 from PowerPoint EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU. Give customers a voice. Amplify their words. Make value sharing e ortless. 2:52 PM Sep 17 from PowerPoint 25

Look for and target ur organization’s trust soft- spots. Rebuild trust there. Demonstrate. Be real. Take fodder from conspiracy theorists. 2:53 PM Sep 17 from PowerPoint 26

THOUGHT STARTERS, BLOGGING: CEO media/invstr relations; industry trends/insights; legislation impacts 2:52 PM Sep 17 from PowerPoint 27

THOUGHT STARTERS, TWITTER (here, now): crisis PR, timely insights, content alerts, community bldg, event notices 2:53 PM Sep 17 from PowerPoint 28

THOUGHT STARTERS, VIDEO: great for intensive learning, how-to vids, personality pieces, company storytelling, humor 2:53 PM Sep 17 from PowerPoint 29

THOUGHT STARTERS, AUDIO: great for distracted learning, storytelling, conversational thought ldrship, testimonials, sensory experiences 2:53 PM Sep 17 from PowerPoint 30

THOUGHT STARTERS, WIKIS: great for event planning, product developing, crowdsourcing ideas, shared learnings, distributed wk-in-progress 2:54 PM Sep 17 from PowerPoint 31

THOUGHT STARTERS, WIDGETS/APPS: get your content into more places, allow engagement w/o leaving venue, aggregating valuable content 2:54 PM Sep 17 from PowerPoint 32

THOUGHT STARTERS, SOCIAL VENUES: brand awareness, community/CSR discussions, loyalty programs, consumer feedbk/trials/testing 2:54 PM Sep 17 from PowerPoint 33

THOUGHT STARTERS, SOCIAL VENUES: brand awareness, community/CSR discussions, loyalty programs, consumer feedbk/trials/testing 2:54 PM Sep 17 from PowerPoint 34

BLOGGER ENGAGEMENT: set up engagement guardrails. When a post is positive, do you compliment, agree or ignore? 2:55 PM Sep 17 from PowerPoint Negative posts: is it a rant, a joke or satire? Are there factual errors to correct? Do you ﬁx a bad customer experience? 2:55 PM Sep 17 from PowerPoint No matter what: be transparent, including links, be positive/strong, spellcheck, think abt public perception, and triage accordingly. 2:55 PM Sep 17 from PowerPoint 35

CONVERSATION MONITORING: fantastic insights into consumer mindset, sentiment, motivation, interest areas, company/product performance 2:56 PM Sep 17 from PowerPoint Lion’s share of convo monitoring can be automated: blogpulse, Google Blog Search, Technorati, TweetReach, Twendz/TweetFeel 2:56 PM Sep 17 from PowerPoint Specialized reporting tools can dive into speciﬁcs on sentiment, motivation, topic trending (Radian6, Sentimine, MotiveQuest) 2:56 PM Sep 17 from PowerPoint 36

BOOMERS = propriety. Trained in formalities, don’t o end, guarded means safe, not so great with “random.” Suit & tie = trust. 2:57 PM Sep 17 from PowerPoint GENS X&Y = a nity. Formalities ignored, sharing means ﬁnding, tech is easy, random is life. Consider your lens. Suit & tie = distrust. 2:57PM Sep 17 from PowerPoint 37

Trust generated, money happened: blog, FB, YouTube to connect. Results: 2MM impressions, 2300 new accts, $4MM in new deposits. @YoungFreeAB 2:57 PM Sep 17 from PowerPoint 38

FINAL THOUGHTS: SocMed is SO NOT a fad. Google gave us search. SocMed gave us sharing, connecting. Won’t get taken away. 2:58 PM Sep 17 from PowerPoint Social Media reﬂects that we are time-starved creatures trying to get our day back, rather than being shallow. Sharing = ﬁnding lk minds. 2:58 PM Sep 17 from PowerPoint “One more thing for marketers to do”? More like engaging your market where they prefer to be. How’d that last trade show budget work out? 2:58 PM Sep 17 from PowerPoint 39

RECAP: Rethink your entire marketing approach from a prospective of trust and with a wider lens. 2:59 PM Sep 17 from PowerPoint Build trust by being found, demonstrating your knowledge, your vision and your trustworthiness. 2:59 PM Sep 17 from PowerPoint Finally, use social marketing to leverage the EXISTING TRUST already established between peers, rather than buying new trust. 2:59 PM Sep 17 from PowerPoint 40

THANK YOU slides: slideshare.net/weave presentweetion: @PeopleBuyTrust me: @weave company: tribalddb.ca

Trust Drives Transactions: a presentweetion for the time-starved

by Eric Weaver on Sep 17, 2009

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