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Social's Real Impact on Buying Behavior - Digital Marketing Exchange - r2i

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Most marketers think of social media as a tool and while it is indeed a tool that helps to publish content and engage with target audiences there are certain aspects of social media that marketers need to understand as it relates to their customer's buying behaviors. Rather than focus on how many likes, fans or retweets social can generate, marketers should focus on the un-owned properties and communities of interest that their audience turns to for advice seeking and giving. Since more than 75% of consumers have completed all their research before making a buying decision, it is imperative that brands understand where their customer is getting their information so they can contribute in a relevant way to their customer's decision-making journey.

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Social's Real Impact on Buying Behavior - Digital Marketing Exchange - r2i

  1. 1. Social’s Real Impact— Changing the Way People Make Purchasing Decisions September 23, 2013
  2. 2. 22 Digital Marketing Exchange Confidential 9/25/2013 2 Evolution of Web’s Role in Decision-Making
  3. 3. 33 Digital Marketing Exchange Confidential 9/25/2013 3 Sources that Internet Users Trust 0% 20% 40% 60% 80% Brand or product recommendations from friends and family Professionally written online reviews (i.e., Consumer Reports) Consumer-written online reviews (i.e., Amazon) Natural search engine results Information on websites of companies or brands Sponsored search engine results Emails from compnaies or brands Posts by companies or brands on social network sites Information on mobile apps from companies or brands Ads on websites Text messages from companies or brands Review Sources % of Respondents (Source: Forrester, "North American Technographics Online Benchmark Survey" March 2013)
  4. 4. 44 Digital Marketing Exchange Confidential 9/25/2013 4 Reasons U.S. Internet Users Go Online Before Making a Purchase 0% 20% 40% 60% 80% Research product/service information Search for consumer or user reviews Search for product/service on ratings websites Search for opinions from product/service experts Read articles or blog posts about the product/service Solicit opinions from their social network 2011 2010 Source: eMarketer.com
  5. 5. 55 Digital Marketing Exchange Confidential 9/25/2013 5 Content Remains King Source: eMarketer.com
  6. 6. 66 Digital Marketing Exchange Confidential 9/25/2013 6 Understanding Information Consumption Peer-to-peer online networks have changed the way people discover information, evaluate and purchase products and services. The decision to buy occurs around people, places and content of interest. This PPC is known as the ―Conversation Layer‖ and is happening in both owned and un-owned properties. Consumers joining the ―Conversation Layer‖ represent risk reduction behavior; understanding this is fundamental when designing a social and content strategy.
  7. 7. 77 Digital Marketing Exchange Confidential 9/25/2013 7 Dealing with Dark Social Source: pardot.com
  8. 8. 88 Digital Marketing Exchange Confidential 9/25/2013 8 The Conversation Layer
  9. 9. 99 Digital Marketing Exchange Confidential 9/25/2013 9 SOCIAL’S REAL IMPACT: How does this change your business?
  10. 10. 1010 Digital Marketing Exchange Confidential 9/25/2013 10 Questions for the Audience How does this effect my budget? How does this effect my org chart? How does this effect relationships with vendors? What is technology’s role?
  11. 11. 1111 Digital Marketing Exchange Confidential 9/25/2013 11 Questions for the Audience How does this effect my budget?
  12. 12. 1212 Digital Marketing Exchange Confidential 9/25/2013 12 Budget Implications • Becoming a Publisher—Creating Content • Loyalty and Call Centers • Product Development • Reduction in Awareness Media
  13. 13. 1313 Digital Marketing Exchange Confidential 9/25/2013 13 Questions for the Audience How does this effect my org chart?
  14. 14. 1414 Digital Marketing Exchange Confidential 9/25/2013 14 New Marketing Leadership CMO V.P. Marketing Channels V.P. Marketing Technology
  15. 15. 1515 Digital Marketing Exchange Confidential 9/25/2013 15 Questions for the Audience How does this effect relationships with vendors?
  16. 16. 1616 Digital Marketing Exchange Confidential 9/25/2013 16 Vendor Relationships • We have too many of them. • Specialists are ruling the day. • They better be tech savvy. • Where does the big idea come from? Does it matter? • Which vendor should I use?
  17. 17. 1717 Digital Marketing Exchange Confidential 9/25/2013 17 Questions for the Audience What is technology’s role?
  18. 18. 1818 Digital Marketing Exchange Confidential 9/25/2013 18 Technology’s Role • Supports marketing • Supports sales • Supports customer • Publishes content • Collects data CMO will have the same number IT folks reporting to her as the CTO
  19. 19. 1919 Digital Marketing Exchange Confidential 9/25/2013 19 So how are we doing it? R2i Case Study
  20. 20. 2020 Digital Marketing Exchange Confidential 9/25/2013 20 R2i Case Study
  21. 21. 2121 Digital Marketing Exchange Confidential 9/25/2013 21 Social’s Real Impact We aren’t going to advertise anymore; we are going to manage communities. --CMO, Coca-Cola
  22. 22. 2222 Digital Marketing Exchange Confidential 9/25/2013 22 Marketing in a World Where All Things are Known Takeaway 1: Decision-Making is the CORE
  23. 23. 2323 Digital Marketing Exchange Confidential 9/25/2013 23 Marketing in a World Where All Things are Known Takeaway 2: Decisions are made in the ―Conversation Layer‖
  24. 24. 2424 Digital Marketing Exchange Confidential 9/25/2013 24 Marketing in a World Where All Things are Known Takeaway 3: Map the Conversation Layer = Strategy
  25. 25. 2525 Digital Marketing Exchange Confidential 9/25/2013 25 Marketing in a World Where All Things are Known Takeaway 4: Advise all areas of channel activation
  26. 26. 2626 Digital Marketing Exchange Confidential 9/25/2013 26 The New Org Chart: Conversation Layer Team
  27. 27. 2727 Digital Marketing Exchange Confidential 9/25/2013 27 Informing the Strategy
  28. 28. 2828 Digital Marketing Exchange Confidential 9/25/2013 28 Informing the Strategy
  29. 29. 2929 Digital Marketing Exchange Confidential 9/25/2013 29 Informing the Strategy
  30. 30. 3030 Digital Marketing Exchange Confidential 9/25/2013 30 Informing the Strategy
  31. 31. 3131 Digital Marketing Exchange Confidential 9/25/2013 31 CONNECT R2integrated – Digital Marketing & Technology www.r2integrated.com @r2integrated

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