Notes Version: How to Use Social Currency to Identify Your Brand Influencers


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Notes Version: How to Use Social Currency to Identify Your Brand Influencers

  1. 1. 9/30/2011How to Use Social Currency to Identify Your Brand Influencers Oct 5, 8:45am - 9:45am Dan Ziman and Becky Carroll Engagement is not a fad. 1
  2. 2. 9/30/2011 Where are we? Stage 3 Pro • Cross-function team & goal Stage 2 • Directly impacting results Operational • Very strong exec support • Brand monitoring Stage 1 • Executive engagement • Baseline metrics Experimental • No ready to commit to results • Skeptical or no exec sponsor • Silo effortBusiness hasn’t changed, but the customer sure has…..22 hrs/week online Ave. Facebook 74% expect a A mere 17% of 5+ hrs/week user: 130 friends. response from consumers trust in social media Ave. Twitter user: a company corporate or product 300 followers online in 1 hour advertising Lost in translation Does the customer ever speak your language? 2
  3. 3. 9/30/201174% of CEOs also say marketers focus too much on the latest trends, such as social media, but can rarely demonstrate how these trends can help to generate more business for the company. - Marketing Week, June 15, 2011 LET’S CHANGE THIS GAME Capture our beauty 3
  4. 4. 9/30/2011 Wherever our clients shop Breaking down the barriersWHAT’S A SUPERFAN 4
  5. 5. 9/30/2011 Are you managing to the right outcome? Brand, Margins, Revenue, Retention C-Suite“I totally recommend Influence that product.” Traffic Sentiment “I buy from Page Views Email Department that company.” Posts Ads Objectives “I checked out their products.” Order Value, Channel Sales eCommerce Reach Ideas, Reduce Support Costs “I know that company.” Likes Fans Views Heard Passive 5
  6. 6. 9/30/2011INSPIRE YOURCUSTOMERS• BeautyTalkers spend 2.5x more $$$s• Superfans spend 10x more $$$s• Average superfan spends 36.5hrs/week on BeautyTalkFOSTER BRAND PRESENCE•66% increase in likelihoodof buying•44% increase in averageamount spent•Community now attracts40% of all FICO traffic –and over 850k customersserved. Creating web traffic 60% of the unique visitors come from direct or google organic search And, 40% of the unique visitors come from referring URLs 6
  7. 7. 9/30/2011 TakeawaysWHAT CUSTOMERS WANT WHAT THEY DON’T• Feel important •Part of a campaign• My feedback counts •An end-user• Appreciate being a •“Like you” because brand fan you want “likes”• Thanked, Loved! So, now what?• How to be a “customer champion”?• What is the structure for customer engagement?• Do customers really ROCK? Social Media is everywhere 7
  8. 8. 9/30/2011 Customers want freebies… Source: Cone Survey 2010 Social Media is not a campaign, it’s part of a strategy to build relationshipsFour Keys to Grow Business Through Brand AdvocatesRelevant marketingOrchestrated customer experienceCustomer-focused cultureKiller customer service 8
  9. 9. 9/30/2011Sanuk knows their customers –and loves them back “We love Sanuk together” CEMEX 9
  10. 10. 9/30/2011Advocates get involved… Engaging Brand AdvocatesRelevant marketingOrchestrated customer experience A coordinated, personalized experience your competitors cannot easily duplicateCustomer-focused cultureKiller customer serviceThe experience is everything… 10
  11. 11. 9/30/2011 Mixing Offline with Online: Domino’s Pizza Customer poses for photo-opPizza box fliers promote TwitterSource: Social Media Examiner Engaging Brand Advocates Relevant marketing Orchestrated customer experience Customer-focused culture Customers are in the DNA of the business Killer customer service It’s about the people… 11
  12. 12. 9/30/2011 FreshBooks focuses on customers“We don’t have a social media strategy, we have a relationship strategy.” Engaging Brand Advocates Relevant marketing Orchestrated customer experience Customer-focused culture Killer customer service Positive interactions that get virally shared 12
  13. 13. 9/30/2011More than just lip service… Go where your customers are Delight Your Advocates 13
  14. 14. 9/30/2011InnovateVerizon Idea ExchangeOpen Innovation: Anyone, Anywhere Launched: July 2010Verizon FiOS TV andCustomer Collaboration – IMG 1.9 Sneak PeekIMG 1.9 Verbatims Created a 1.9 Sneak Peek for community  First off, thank you for lettingmembers, administered via private  us customers have 1.9 earlydiscussion board in the forums and offer our sincere feedback. This is truly appreciated and means soIMG 1.9 Customer Verbatims: much to me and shows Verizon dedication to making FiOS the best! “Wow. “Wow. - Email to Joe Ambeault Impressive.” Impressive.” “1.9 FLIES on “1.9 FLIES on (1/21/11) a 7232” a 7232” “Whoohoo. The “Whoohoo. The But, the best part was getting guide is finally in guide is finally in to work with the people inside HD.” HD.” “I heart IMG “I heart IMG of Verizon. It really changed 1.9.” 1.9.” my view of the company in a “Love the new “Love the new very positive way. guide!:) guide!:) - DSL Reports (4/21/11) 42 14
  15. 15. 9/30/2011Verizon Ideation ProcessLeverages Social Media We listen to customers We open our product development process“Over 90% of our latest releasehas been suggested, orrefined by our customers.” Verizon: Measuring Success Number of ideas submitted: 1700 Number of ideas in progress: 250 Number of ideas implemented: 31Since launch… 107% growth in comments 403% growth in votes 555% growth in visitors When I get back to the office… • Make customer engagement a long-term strategy • Metrics associated to conversions, not volume • Ensure my social media strategy is associated to a business outcome BUT • Reward my fans in their language, their interests & their needs 15
  16. 16. 9/30/2011 Let’s have a conversationBecky Carroll Dan Ziman Author, The Hidden Power of Your VP, Corporate Marketing office +1.650.740.2662 mobile+1.858.692.4778 mobileBusiness Blog - @lostintheflog@bcarroll7 Lithosphere Community stomers 16