Social Media vs Sales: from Conversations to Conversions

Social Media vs Sales: from Conversations to Conversions Clo Willaerts, 20 May 2010

Women hold up half the sky. (Mao Tse-Tung) 19.05.10 © Sanoma Magazines Marketing to women online - Clo Willaerts

Online vs offline purchases 1. Travel 2. Events 3. Clothing & shoes 4. Books 5. Digital music 6. CD/DVD/Blu-ray 7. Computers 8. Other 9. Appliances 10. Jewelry 11. Health rel. 12. Furniture 13. Decoration 14. Telco 15. Sm. electronics Source: Sanoma/InSites Women Online Study, Belgium, April 2009

Online Purchase Influencers
68% Online coupons
61% Consumer reviews on shopping sites
45% Emails from companies/brands
41% Articles read online
36% Content on brand/company sites
33% Blog recommendations
32% Online community discussion forums
19% Facebook/Twitter posts from friends
15% Coupons/promos on mobile device
11% Facebook/Twitter posts from brands
Source: SheSpeaks/iVillages Shopper Study Report, U.S., May 2010

In the U.S., aid from coupons is relied upon and appreciated Source: How will you reach her? Momentum by Big Fuel Communications, U.S., April 2010

Consumer reviews vs manufacturer's brand description

Women dominate social networks

Social media is...
decentralised publishing model
large user volumes
realtime
consumer-centric
online = offline = online
search engine optimised (*)
(*) Except for Facebook, but give it some time.

Decentralised publishing model

Large user volumes ( . pdf )

Realtime

Realtime
Example: Eurostar train stuck in tunnel vs @londoncream and @littlebreak

Consumer centric

Online = offline = online

Search engine optimised

Top5 social media #fails
Campaigns
Faking it
Race
Traffic
Free

Status updates are the window to your soul Source: http://youropenbook.org/

The opportunity? Pic source: http://www.washingtonflyfishing.com/

Social media vs social sales
Since web 2.0 the full cycle is visible
customer experiences drive reviews and conversations
Challenge: realtime
Opportunity:
catching a lead in mid-air
http://www. customerthink . com/blog/mckinsey_shooting_holes_in_the_sales_funnel

Classic sales funnel
The Sales Funnel
Fat pipeline equals skinny kids

The customer decision journey (McKinsey)

Conversity: sneak preview

1/6 Initial consideration set
habit, tradition, trust
mainly consumer-driven information sources
visible:
fan on Facebook
wishlists
bio

1/6 Initial consideration set

2/6 Trigger: new or improved product

2/6 Trigger: fashion, seasons

2/6 Trigger: promotions

2/6 Trigger: unexpected
e.g. the old one broke, accidents, retail therapy, health issues, death.
Challenges:
pain, loss, taboos.
Opportunity:
time
rapid social sales response

2/6 Trigger: life stage
New baby, new job, new boyfriend, new house, ...
target not on demographics but on phase in life
online communities

3/6 Active evaluation
information gathering
window shopping
facts (about how to use this product): content marketing
testimonials/reviews (what it is like to use this product)

4/6 Moment of purchase
trust
convenience
service

5/6 Postpurchase experience
two possibilities:
happy customer
loyalty
unhappy customer
customer care
rapid social response

6/6 Loyalty loop
happy customer
WoM
fans
evangelist

Next steps?

Conversity.be @bnox #conversity

Work title: The Ultimate Guide To Tracing And Influencing Consumers’ Buying Decisions Through Social Media
Out in September 2010
Made with http://www.oreillymaker.com/

And in the meanwhile...

This presentation: http://www.targetwomen.be http://www.conversity.be Thank you! [email_address]

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Social Media vs Sales: from Conversations to Conversions

by Clo Willaerts on May 19, 2010

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Social Media vs Sales: from Conversations to Conversions — Presentation Transcript