Welcome Keynote Social Media - Impact to businesses of all sizes, all industries


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Welcome Keynote
Axel Schultze, Founder Social Media Academy, http://xeesm.com/axels
Social Media - Impact to businesses of all sizes, all industries

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Welcome Keynote Social Media - Impact to businesses of all sizes, all industries

  1. 1. … the best professional tools on the planet<br />October 5 – 10, 2009A global, all online event<br />The world’s best social media tools, demoed and discussed in one week<br />
  2. 2. Social Media<br />Impact to businessesall sizes, all industries<br />
  3. 3. The model of influence changed in its foundation<br />Lead flow as an indicator how customers get engaged.<br />Leads typically represented the start of an “Educated Purchase Decision” – and the begin of a sales process – not any more!<br />The education process changed, the lead flow dried out - businesses have to change!<br />+ Internet reg. pages<br />+ TV commercials<br />+ Tradeshows <br />+ Bill boards<br />????<br />News paper<br />
  4. 4. Buying dynamics dictate sales processes<br />The old sales process can be collapsed to the last three steps in the buying process<br />
  5. 5. This is not applicable in our business<br />This may work in B2C but not in B2B<br />This is good for B2B but not B2C<br />Our industry is not ready<br />My customers are not there yet<br />Our competitors don’t do anything either<br />My customer never asked my about social media<br />
  6. 6. Social media is where customers meet customers forexperience, skill development, failure prevention…<br />
  7. 7. Power of repeat customers and word of mouth<br />Zappos is a great example for the rapid evolution of word of mouth – accelerated through the Internet<br />It’s no longer one tells one other – one tells a million<br />Zappos Inc.<br />
  8. 8. Social Media The #1 Recommendation Engine<br />High-Tech, Agricultural Industry, Financial Services, Health Care… no specific “best” on any industry segment<br />B2B because no decision maker would spend $5 Million without verifying with peers, other experts and everybody they trust<br />B2C because purchase is no longer driven by advertising but through peer recommendation, peer pressure, friends and other influences<br />Age group ranges from 16 to 60<br />80% of purchase decisions are based on recommendations <br />
  9. 9. Social Media For Business<br />#1 ObjectiveBe part of the “Recommendation chain”<br />#1 ChangeCreating a better customer experience<br />#1 ImplicationShifting gear in support, product marketing, sales, and marketing<br />#1 RealizationSocial media is a cross functional business initiative – not a marketing campaign<br />#1 GoalBusiness growth through advocacy <br />
  10. 10. My company is not ready for that<br />We have no budget<br />We have no resources<br />We have no plan<br />In that economy we have no time for this<br />This should be done by our ad agency<br />
  11. 11. STOP !!!!<br />Your agency cannot tweet and chat with your customers without the involvement of sales<br />Your agency cannot discuss topics in a forum without the involvement of your support team<br />Your agency cannot have a product feature dialog without the participation of your product managers<br />Your agency cannot explore trends and demands without the inclusion of your procurement department<br />
  12. 12. It’s all about people<br />Business 1960 – 2010<br />Mass marketing<br />Low touch sales model<br />Outsourced support centers<br />SEO, hits and numbers<br />The new enterprise 2010 –<br />Social Marketing<br />Relationship based selling<br />Customer integrated support<br />Conversations are the new KPIs(the worst thing to be talked about is not to be talked about)<br />
  13. 13. Your customer took a new route - again<br />There are numerous examples from past history, demonstrating what happens if customers take new routes.<br />Many companies however just don’t recognize when that is happening to them.<br />“No opportunity is lost – someone will take it”<br />
  14. 14. A shoe dealer get acquired for $800 Million<br />Tony Hsieh (CEO) brought Zappos from $1.6Million in 2001 close to$ 1 Bn in revenue by 2008 – It’s NOT an e-commerce success storybut a customer experience / social media success story.<br />
  15. 15. I’m not ready for that<br />None of our executives have a clue<br />Our culture is so old<br />We are so much under pressure<br />I can’t do anything<br />
  16. 16. Your personal social media check list<br />Take your top 50 business contacts and look them up in the relevant places and spaces.<br />Create an account on networks and sites where you find your customers, prospects, partners and influencer.<br />“Visit” them every other day, read the last posts, comment, care about them.<br />LISTEN to what’s on top of their mind – think beyond your product sale.<br />Be approachable, let your connections know how to connect with you.<br />Share your thoughts, interests – get social.<br />Take one of the reporting tools and begin to measure sentiments around your brand/product.<br />Tell your colleagues what you learn from your customers and prospects – encourage them to also listen and learn.<br />Help your customers and prospects with helpful links, introduce them to existing customers and experts of your products and services.<br />Stay focused on the people who are RELEVANT to you – otherwise you get distracted and spend 24 hours per day browsing around.<br />DO NOT waste your time with growing your followers, video editing, chatting with everybody who invites you… Follow your own business objectives<br />
  17. 17. The Overall Process<br />Understand what your customers are up to<br />Understand your strength, weakness, the opportunities and the threats<br />Develop a sound strategy based on the findings<br />Create a plan extracted from your strategy<br />Ensure a corresponding team development<br />Focus on the execution, report on progress and success factors<br />
  18. 18. Welcome to Social Media Tools Week<br />Learn as much as you can<br />Listen to strategists, consultants and practitioner from around the world<br />See the tools that are especially geared towards business use. Thursday is social media reporting day.<br />Join the Social Media Academy group in LinkedIn<br />Consider joining the Leadership Class where you learn step by step everything you need from a social media business assessment to strategy execution.<br />
  19. 19. Thank You<br />(650) 384-0057<br />info@socialmedia-academy.com<br />© 2009 Social Media Academy. All rights reserved. This content is protected under the copyright law of the United States. It is prohibited to make full or partial copies or extractions of this documentation without the explicit written approval from the Social Media Academy. <br />All materials contained herein are the property of the Social Media Academy and its faculty and may only be used, by an enrolled student for his or her own educational benefit.<br />Social Media Academy | 228 Hamilton Ave. | Palo Alto, CA 94301 | (650) 384-0057<br />