[Viral marketing];[Resources]_2
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[Viral marketing];[Resources]_2 Presentation Transcript

  • 1. WORD OF MOUTH MARKETING CREATING BUZZ 1 NAPA CONSULTING GROUP
  • 2. HOW TO USE WORD-OF-MOUTH MARKETING (WOMM) TECHNIQUES AND SOCIAL MEDIA TO DRIVE GROWTH BY CREATING A POSITIOVE BUZZ AROUND YOUR PRODUCT OR SERVICE. 2
  • 3. TO APPRECIATE WOMM: FIRST YOU HAVE TO UNDERSTAND WHAT’S BROKEN WITH TRADITIONAL MARKETING. 3
  • 4. IS YOUR CAMPAIGN HAVING A NEGATIVE IMPACT ON YOUR BRAND? 4
  • 5. ONLY 18% OF TV ADS GENERATE POSITIVE ROI 5
  • 6. 84% OF B2B CAMPAIGNS RESULTED IN LOWER SALES 6
  • 7. 100% INCREASE IN AD SPENDING JUST TO ADD 1% - 2% IN SALES 7
  • 8. ONLY 14% TRUST ADS 8
  • 9. 69 % INTERESTED IN AD BLOCKING TECHNOLOGIES 9
  • 10. TRADITIONAL MARKETING & ADVERTISING ADVERTISING CLUTTER MEDIA FRAGMENTATION CONSUMERS TUNED OUT LESS EFFECTIVE MORE EXPENSIVE LESS TRUSTED LOWER ROI 10
  • 11. 1. 2. …the ..i got to JESUS have an PHONE iPhone rocks! WOMM POWER 11
  • 12. TWO THIRDS OF U.S. ECONOMONY DRIVEN BY WOM 12
  • 13. POSITIVE CORRELATION TO BUSINESS GROWTH 13
  • 14. BRAND ADVOCACY DRIVES BUSINESS GROWTH Harvard study 14
  • 15. BRAND ADVOCACY EVEN MORE IMPORTANT THAN BRAND IMAGE OR BRAND SATISFACTION Harvard study 15
  • 16. LAW OF FEW 10% INFLUENCE PURCHASING BEHAVIOR OF OTHER 90% 16
  • 17. 91% LIKELY TO BUY ON RECOMMENDATION 17
  • 18. 92% PREFER WOM RECOMMENDATION 18
  • 19. BRAND ADVOCATES AVERAGE CUSTOMERS, CLIENTS, CONSUMERS 19
  • 20. WOMM CHARACTERISTICS HOMOPHILY HAWTHORNE EFFECT CONVERSATION: DIALOGUE EXPRESSION INVISIBLE NETWORKS LINKS SIX DEGREES OF SEPARATION DIGITAL MEDIA MUCH HIGHER LEVEL OF TRUST HUMILITY 20
  • 21. WOMM = C2C CONVERSATION Consumer-to-consumer conversation 21
  • 22. NOT … TRADITIONAL MARKETING & ADVERTISING 22
  • 23. BUZZ = INFECTIOUS CHATTER WHAT’S HOT WHAT’S ATTRACTIVE 23
  • 24. VEHICLE FOR CONTAGION PERSON-TO-PERSON TALKING TALKING BY PHONE SOCIAL MEDIA TOOLS SMS E-MAIL IM BLOGGING VBLOG WRITING 24
  • 25. WHO ARE NETWORK HUBS CONNECTORS ALPHAS OPINION LEADERS SNEEZERS PEERS 25
  • 26. LINKS OR NODES SPREAD BUZZ NODE NETWORK NETWORK A B TRUSTED CHANNEL 26
  • 27. CORRELATION BETWEEN NETWORK HUBS AND EARLY ADOPTERS. 27
  • 28. LINKS FUEL DIFFISUION A NETWORK OF 100 PEOPLE = 4,950 POSSIBLE LINKS A NETWORK OF 1,000 PEOPLE = 500,000 POSSIBLE LINKS Six degrees of separation concept (a/k/a small world phenomenon) 28
  • 29. AVERAGE PERSON HAS … 11 TO 12 INTIMATE CONTACTS 150 SOCIAL CONTACTS 500 TO 1,500 WEAK TIES 29
  • 30. HOMOPHILY BIRDS OF A FEATHER FLOCK TOGETHER The term homophily stems from study of social networks. 30
  • 31. CLUSTERS Interests hobbies beliefs age gender social class ethnicity religion values politics geography education occupation 31
  • 32. ALL ABOUT… INTERACTION IN & AMONG INVISIBLE NETWORKS 32
  • 33. LEAPFROGGING TECHNIQUES Aqua Teen WOMM umbrella term • Buzz marketing – Special hook, event, promotion. Aqua Teen Hunger Force Boston Bomb Scare • Viral marketing – Branded material, websites, blogs, advergames, widgets, bligets, videos, utilities, collaboration tools etc. that sneezers spread. ParkRidge47, Vote Different • Influencer marketing – Identifying and finding the influencers • Evangelist marketing – Turning most loyal customers into citizen marketers • Street marketing Buzz Oven – Interacting at popular offline places like Buzz Oven • Stealth / Undercover marketing – Bree, lonelyGirl15 Bree Source: Justin Kirby, & Paul Marsden (2006). Connected marketing. Oxford, UK: Butterworth-Heinemann. 198 33 YouTube
  • 34. WIDGET & BLIDGET 34
  • 35. SOCIAL MEDIA Social media describes the online technologies and practices that people use to share opinions, insights, experiences, perspectives and media itself. Social media can take many different forms, including text, images, audio, and video. These sites typically use technologies such as blogs, message boards, podcasts, wikis, and vlogs to allow users to interact. Source: Wikipedia 35
  • 36. BUZZ MARKETING WITH BLOGS… BLOGVERTORIAL BUSINESS BLOG FAUX BLOG 70 million blogs in just 4 years. 120K blogs being added each day. 36
  • 37. SEEDING… STIMULATING DISCUSSION PROMO EVENT REDUCED PRICING FREEWARE GAME DEMO TRIAL BETA 37
  • 38. ASK YOURSELF… How does information flow in my industry? Where do people get their information? Does information flow in a centralized way? How do consumers interact in my industry? Do they hangout in networks? How big are these networks? Is my industry conservative? What influences my customers? Who influences my customers? Is my product risky? 38
  • 39. BUZZ MISTAKES… FOCUSING JUST ON OPINION LEADERS (1%) NARROWLY PROFILING CONNECTORS NO STORY OVERSELLING 39
  • 40. BUZZ GUIDELINES SUPERIOR EXPERIENCE CONTAGIOUS PRODUCT SUPERIOR QUALITY UNDERPROMISE OVERDELIVER ANTICIPATION REACH 10% - 15% TRUTH 40
  • 41. IDEAL BUZZ CANDIDATES… REQUIRE NO ADVERTISING LEAVE A TRACE NETWORK EXTERNALITY INCREASE COMPATABILITY INCREASE TRANSPARENCY SELF CONTAINED 41
  • 42. e-marketing & strategy consultant Kameran Ahari http://gotastrategy.typepad.com Napa Consulting Group 42