Web Liquid Approach To Social Media Marketing 2010

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An approach to Social Media Marketing

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Web Liquid Approach To Social Media Marketing 2010

  1. 1. This is a <br />Social Media & Digital Marketing <br />Presentation<br />
  2. 2. Factors hindering the adoption of Social Media programs at large organizations <br />Source: MarketingSherpa Social Media Marketing and PR Benchmark Survey 2008<br />
  3. 3. The evolution of social media<br />Timing of four overlapping eras<br />ERA OF SOCIAL RELATIONSHIPS<br />Start: 1996<br />Maturity: 2003 to 2007<br />ERA OF SOCIAL FUNCTIONALITY<br />Start: 2007<br />Maturity: 2010 to 2012<br />ERA OF SOCIAL CONTEXT<br />Start: 2009<br />Maturity: 2012<br />ERA OF SOCIAL COMMERCE<br />Start: 2011<br />Maturity: 2013<br />
  4. 4. SPHERE WITH CORE<br />The relationship between persuasion and confidence: EFFICIENCY<br />Purchase decision <br />point<br />persuasion<br />”Marketing Promise” <br />Advertising <br />Public Relations<br />Offers <br />This is an example text. <br />confidence<br />”Trust and expectation” <br />Word of Mouth <br />Research <br />Brand interactions<br />90%<br />90% of consumers trust recommendations from people they know, 70% trust opinions of unkown users – Source: eConsultancy 2009<br />
  5. 5. SPHERE WITH CORE<br />Consumption and creation: EVOLVED INFLUENCE<br />AWARE<br />CONSIDER<br />RESEARCH<br />consume<br />BUY<br />WOM:<br />USE<br />create<br />RECOMMEND<br />EXPRESS<br />
  6. 6. Revenue from social media: SOCIAL COMMERCE<br />Exchange of experiences<br />“The exchange of experiences, opinions and referrals to enhance the purchase and advocacy of brands, goods and services” <br /><ul><li>Social Commerce is the use of social media – online media that supports social interaction and user contributions – to assist in the online buying and selling of products and services
  7. 7. Understanding why it makes commercial sense to help people to connect where they buy and buy where they connect provides businesses with a strategic advantage
  8. 8. The opportunity to reap the rewards from an insight-led social commerce strategy is far greater than merely deploying a disparate set of tactical tools</li></li></ul><li>Understanding and applying social commerce<br />Why Social Commerce?<br />IT IS GOOD MARKETING. <br /><ul><li>Rather than simple communications delivery, Social Commerce focuses on the business of solving people’s problems to enable us to generate a profit.
  9. 9. Social commerce shifts the aim of marketing from persuasion to trust</li></ul>1<br />2<br />3<br />GO FISHING WHERE THE FISH ARE <br /><ul><li>Allows brands to sell at the locations where customers spend their time; social media platforms. </li></ul>Social media already accounts for 16% of all time <br /> spent online versus 5% using search engines.<br />(Source: OAP Internet Activity Index 2009) <br />49%<br />16%<br />THE SOCIAL PSYCHOLOGY OF SHOPPING <br /><ul><li>Social shopping tools can harness the process of social influence that takes place when were shopping to improve preference and propensity to transact</li></ul>49% of shoppers have made a purchase based on a <br />recommendation through a social media property<br />(Source: Razorfish 2009)<br />
  10. 10. The principles of social psychology<br />Behavioural drivers behind social ecommerce <br />Social Media <br />Tools<br />Social Proof <br />The behavioural rule: Follow the Crowd <br /><ul><li>To resolve uncertainty of what to do and buy we look at what others are doing or have done.
  11. 11. When something stands out as dominant, we instinctively perceive this as social proof; validation </li></ul>Pick Lists such as wish-lists and gift-lists offer social proof about what people want and what is desirable<br />Popularity Lists that allow shoppers to view options by ‘most popular’, ‘most viewed’, ‘most favorite’, ‘most commented’ etc provide social proof as to what’s best to buy<br />Authority <br />The behavioural rule: Follow the Authority<br /><ul><li>People have a natural tendency to defer to the conclusions of an expert or authority, regardless of what they say.
  12. 12. Specialist knowledge, experience and expertise saves us time.</li></ul>Referral Programs stimulate recommendations from people in the know who shoppers trust<br />Social Media Reviews by authoritative professional reviewers (blog reviews, webzine reviews, YouTube reviews), and also by existing customers because we assign authority to voice of experience<br />Scarcity <br />The behavioural rule: Scarce stuff is the good stuff <br /><ul><li>Our minds are hardwired to value scarce resources; we instinctively assign more value to opportunities as they become less available – part out of fear of potential loss (this is known as psychological reactance).</li></ul>Deal Directories that list exclusive time-sensitive shopping deals (often with a count-down clock), from those in the know<br />Social Network Storefronts with great exclusive deals/products for social network members only<br />
  13. 13. The principles of social psychology<br />Behavioural drivers behind social ecommerce <br />Social Media <br />Tools<br />Liking<br />The behavioural rule: Follow those that you like <br /><ul><li>We have a natural inclination to agree with people we like, admire or find attractive.</li></ul>Ask-Your-Network tools for real-time recommendations and opinions from shopper social circles (‘friend sourcing’)<br />Share-With-Your-Network tools that allow shoppers to share shopping experiences/finds with their social circle (affinity network)<br />Consistency<br />The behavioural rule: Be consistent <br /><ul><li>When faced with uncertainty, we opt for the one that is consistent with our beliefs and past behavior.
  14. 14. When our beliefs and behaviors don’t match up, we feel psychological discomfort, a big motivator for trying to be consistent</li></ul>Share-With-Your-Network tools harness the consistency heuristic to drive loyalty and repurchase by creating publicly association between the shopper and purchased products and the e-commerce site<br />Social Media Entertainment uses the small commitment of paying attention to make future purchases more consistent with past behavior<br />Reciprocity<br />The behavioural rule: Scarce stuff is the good stuff <br /><ul><li>We have a natural desire to repay favours, whether those favours were invited or not - we feel good when we reciprocate </li></ul>Group-Buy tools that allow friends to do their friends a favour and get them deals, which get reciprocated with participation<br />Referral Programs that allow friends to offer exclusive access or special deals to their friends stimulate take-up and sales<br />
  15. 15. Our methodology: SOCIAL MEDIA ROADMAP<br />Measurement. Monitoring. Marketing.<br />Define Purpose<br />Define proposition and objectives of social media investments<br />Marcoms integration<br />Integrate into Marcoms activities based on findings from monitoring<br />Measurement & KPIs<br />Define financial KPIs and implement back-end tracking<br />Monitor and listen<br />Monitor blogsphere to benchmark sentiment and conversation<br />1<br />2<br />3<br />4<br />Build communities<br />Increase visibility & establish presence within main platforms<br />Activate advocates<br />Identify and establish contact with best customers and influencers <br />Recruit Prospects<br />Increase number of participants & contributors<br />Grow Share of Voice<br />Increase share of voice through tactical promotions<br />5<br />6<br />7<br />
  16. 16. Our methodology: SOCIAL MEDIA ROADMAP<br />BESPOKE RECOMMENDATIONS<br />Outputs<br />Our SERVICE <br /><ul><li> Begin by examining your core values and tie them to a consumer focused mission statement:</li></ul>e.g. “Change and facilite the way consumers view external and internal beauty” <br /><ul><li>STATEMENT OF PURPOSE - how, when and why to we engage in social media?
  17. 17. Social Media GOVERNANCE DOCUMENT – define policies and approach to the use of social media
  18. 18. CREATORS AND FACILITATORS - identify key internal individuals involved with social media – customer service, sales, in store management
  19. 19. Interview with key stakeholders aimed at gathering facts, provide training on social media and brainstorm ideas </li></ul>Define Purpose<br /><ul><li>CUSTOMER PATH ANALYSIS – plot the most profitable and popular customer journeys and identiify Key Performance Indicators through each step
  20. 20. Draft initial BRAND DASHBOARD, amalgamating data from site analytics, email, display, social media, paid search, organic search
  21. 21. Integration of data to measure PEER INFLUENCE by tracking social media engagement (e.g. Facebook “Like It”)
  22. 22. Integrate different data sources into one single Brand Dashboard to gain a holistic view of influence and performance
  23. 23. Establish a methodology that allows you to understand contribution of sites post and pre “last click”
  24. 24. Implement Peer Influence Analysis into your reporting
  25. 25. Conduct an intial audit of current measurement approach and data outputs
  26. 26. Prepare a detailed set of recommendations to improve accounatbility and visibility of data including social media tracking </li></ul>Measurement & KPIs<br />
  27. 27. Our methodology: SOCIAL MEDIA ROADMAP<br />BESPOKE RECOMMENDATIONS<br />Outputs<br />Our SERVICE <br /><ul><li>WORD OF MOUTH SNAPSHOT – report analysing </li></ul>volume of conversation, overall sentiment and <br />sources of conversation – tied with specific<br />tactical recommendations<br /><ul><li> Share Word of Mouth findings with </li></ul>product development and customer service <br />teams <br /><ul><li> Set-up on-going or monthly </li></ul>monitoring of blogsphere <br />through Brandwatch, a leading<br />third party monitoring tool <br />Monitor & Listen<br /><ul><li> Test response rates of communications </li></ul>(ads, mailings, emails) that incorporate <br />social media call to action<br /><ul><li>THROUGH THE LINE SCHEDULE – tie social </li></ul>media communications and call to action to <br />offline and online messages <br /><ul><li> Incorporate social media </li></ul>insight into offline and online <br />communications – blend <br />persuation messges with <br />conversattions<br />Marcoms Integration<br /><ul><li>COMMUNITY DEVELOPMENT AND </li></ul>ENGAGEMENT PLAN – schedule, costings and resourcing of new communities leveraging internal or external resource <br /><ul><li> Identify affinity partners such as ASOS for the purpose of deploying community engagement and social ecommerce programs
  28. 28. Build branded environments within key social media platforms including LinkedIn, YouTube, Facebook, Twitter, Tripadvisor
  29. 29. Identify potential co-branded opportunities with affinity partners
  30. 30. Build applications within specific communities including Facebook</li></ul>Build Communities <br />
  31. 31. Our methodology: SOCIAL MEDIA ROADMAP<br />BESPOKE RECOMMENDATIONS<br />Outputs<br />Our SERVICE <br /><ul><li>ACTIVATION PLAN – draft a plan of activities and communications to increase the number of brand advocates across key social media platforms
  32. 32. Partner with social media platforms to identify, incentivize and track brand advocates
  33. 33. Identify individual influential bloggers with a high propensity to create content
  34. 34. Tie “Love your Body” rewards program and social media communications
  35. 35. Develop a proposition for brand advocates to increase involvement
  36. 36. Identify and recruit brand advocates across multiple social media networks</li></ul>Activate Advocates<br /><ul><li>RECRUITMENT PLAN – draft a plan of activities and communications to increase acquisition of prospects (through paid and earned media)
  37. 37. Recruit in-store customers: monetize your foot traffic
  38. 38. Leveraging data from monitoring tool, identify sites and environments that attract high number of prospects</li></ul>Recruit Prospects<br /><ul><li>SOCIAL MEDIA EDITORIAL SCHEDULE – in conjunction with your existing PR agency develop an calendar of communications to increase frequency and depth of conversation
  39. 39. Leverage seasonal events and celebrations to increase share of voice and conversation
  40. 40. Develop a plan to increase involvement within social media platforms </li></ul>Grow Share of Voice<br />
  41. 41. Thank you, <br />We look forward to the opportunity of working with you!<br />www.webliquidgroup.com<br />General Inquiries: info@webliquidgroup.com<br />London: +44 (0) 20 7253 4133<br />New York: +1 646 257 1106<br />

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