BNC IT Chicago - Customer Acquisition 2.0


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Jeff Molander's presentation to BNC IT Chicago - Customer Acquisition 2.0 June 17, 2008

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  • My Background My Professional Story Started a performance-focused marketing services agency in the hey days Survived -- $65 million valuation in 3 years Consulting to marketers, start-ups & financial services & investment community My Background My Professional Story Started a performance-focused marketing services agency in the hey days Survived -- $65 million valuation in 3 years Consulting to marketers, start-ups & financial services & investment community
  • BNC IT Chicago - Customer Acquisition 2.0

    1. <ul><li>Jeff G. Molander </li></ul><ul><li>CEO </li></ul><ul><li>Molander & Associates Inc. </li></ul><ul><li>[email_address] </li></ul>Customer Acquisition 2.0: Social Media & Consumer Empowerment
    2. My ‘Personal’ Take-Aways <ul><li>Use common sense – trust your instincts </li></ul><ul><li>Create authentic, mutually respectful relationships </li></ul><ul><li>Be fearless, experimental </li></ul><ul><li>Build trust-centric models </li></ul><ul><li>Embrace long-term thinking (sustainable business!) </li></ul><ul><li>Let customers EXPERIENCE CHOICE! </li></ul>
    3. and the biggie… <ul><li>You Already Have the Answers </li></ul>
    4. Marketers as Publishers Experiential Marketing
    5. <ul><li>“To succeed, we need to stop standing between (consumers) and their content and actually be the content they want to see … </li></ul><ul><li>With some exceptions, consumers do not want to watch content about your brand. But consumers will watch original programming that supports your brand, if it entertains .” </li></ul>Greg Verdino Crayon
    6. Or Not… Tom Cox Founder <ul><ul><ul><li>“ It’s just not that big a deal at this point. Your resources are better spent elsewhere… </li></ul></ul></ul><ul><ul><ul><li>Blogs are like the newsgroups of a decade ago -- they were there, but did they ever move the needle? No.” </li></ul></ul></ul>
    7. Goals <ul><li>Fundamentals </li></ul><ul><ul><li>Demystify & define: elements </li></ul></ul><ul><ul><li>Changes in customer behavior </li></ul></ul><ul><ul><li>Purchase influence </li></ul></ul><ul><li>Designing Experiences </li></ul><ul><ul><li>Trust </li></ul></ul><ul><ul><li>Authenticity </li></ul></ul><ul><ul><li>B2B & B2C </li></ul></ul>
    8. Terms <ul><li>Social Media & Web 2.0 </li></ul><ul><li>Conversational Marketing </li></ul><ul><li>Consumer Empowerment </li></ul><ul><li>Word of Mouth & Buzz Marketing </li></ul><ul><li>Alternate Reality </li></ul><ul><li>Viral Narrative </li></ul><ul><li>User Generated Content (UGC) </li></ul>
    9. Elements of the Social Web <ul><li>Websites (text) </li></ul><ul><ul><li>Blogging </li></ul></ul><ul><ul><li>Social networks (biz and personal) </li></ul></ul><ul><ul><li>Bookmarking ( Ma.gnolia StumbleUpon) </li></ul></ul><ul><li>Multi-Media </li></ul><ul><ul><li>Video (amateur & pro, social networks, etc.) </li></ul></ul><ul><ul><li>Audio & podcasting </li></ul></ul>
    10. <ul><li>Mobile </li></ul><ul><ul><li>Opportunity is clear: 2.5 billion mobile phones </li></ul></ul><ul><ul><li>Less than 2/10 of a percent of the total advertising spent worldwide </li></ul></ul>Elements of the Social Web <ul><ul><li>Source: Informa Telecoms & Media 2007 </li></ul></ul>
    11. <ul><li>Collaborative </li></ul><ul><ul><li>Shopping </li></ul></ul><ul><ul><li>Working </li></ul></ul><ul><li>Collaborative Narcissism </li></ul><ul><ul><li>“ Lifestreaming” & Micro-blogging </li></ul></ul><ul><ul><li>Multi-dimensional (mobile+Web) </li></ul></ul>Elements of the Social Web
    12. Elements of the Social Web R.S.S.
    13. Elements of the Social Web <ul><li>Websites </li></ul><ul><li>Multi-Media </li></ul><ul><li>Collaborative </li></ul><ul><ul><li>Shopping </li></ul></ul><ul><ul><li>Working </li></ul></ul><ul><ul><li>Socializing </li></ul></ul><ul><li>Tech: RSS, Widgets, Java, Ajax </li></ul>
    14. Experiential!
    15. What’s Changing?
    16. The New Reality Dr. David Weinberger Author, Speaker, Academic “ There is no market for your message.”
    18. Social ‘Currency’
    19. Social ‘Currency’ <ul><li>An alternate ‘Currency’ for the Web </li></ul><ul><ul><li>Consumer skepticism </li></ul></ul><ul><ul><li>Trust & authenticity </li></ul></ul><ul><ul><li>Word-of-mouth recommendations </li></ul></ul><ul><li>Influence </li></ul><ul><li>Challenges </li></ul><ul><ul><li>How to be trusted? </li></ul></ul><ul><ul><li>Authenticity requires transparency! </li></ul></ul><ul><ul><li>What are the tactics? </li></ul></ul>
    20. Trust as Currency Source: Nielsen 2007 26,486 internet users in 47 different countries
    21. Trust
    22. TIME
    23. The New Reality Jim Stengel CMO Proctor & Gamble <ul><ul><ul><ul><li>&quot;Time is the most precious asset right now. If we can be worth their engagement, that's the highest benchmark for advertising.&quot; </li></ul></ul></ul></ul>
    24. ROI 4X Traditional Investments Source: Forrester Research
    25. Time Online Source: Online Publishers Association (Internet activity Index, January 2008) <ul><li>“ Content ” 43 % </li></ul><ul><li>“ Communications” 28.7 % </li></ul><ul><li>“ Commerce” 16.1 % </li></ul><ul><li>“ Community ” 7.5 % </li></ul><ul><li>“ Search” 5.0 % </li></ul>
    26. Content & Community Sites: Commercial Intent Source: Online Publishers Association (Internet activity Index, January 2008) <ul><li>“ Content” + Community = 51 % </li></ul><ul><ul><li>Comparing </li></ul></ul><ul><ul><li>Researching </li></ul></ul><ul><ul><li>Gathering & sharing opinions </li></ul></ul><ul><ul><li>CREATING & EXPERIENCING! </li></ul></ul>
    27. Designing Experiences
    28. <ul><li>Source: &quot;Passionistas: The New Empowered Consumer&quot; </li></ul><ul><li>Conference September 2007 </li></ul>Edwind Wong Dir. Customer Insights Yahoo! &quot;It is not (so much) about the consumer's trust in the brand, but rather… about building the brand out of the consumer's innate needs.”
    29. Let’s Get Radical Doc Searls Co-author, The Cluetrain Manifesto Fellow at Harvard’s Berkman Center for Internet & Society “ Advertising is about supply finding and ‘creating’ demand. [There is] nothing wrong with that. At its best, it’s good and necessary stuff. But think about what will happen when demand can find and create supply.”
    30. Content + Community “Crowdsourcing”
    31. $30,000,000 (2007)
    32. Secret Sauce of “Crowdsourcing?”
    33. Emotions! <ul><li>Suppliers (who are customers) </li></ul><ul><ul><li>Approval of community </li></ul></ul><ul><ul><li>Financial rewards </li></ul></ul><ul><li>Community </li></ul><ul><ul><li>Participatory </li></ul></ul><ul><ul><li>Cause-minded </li></ul></ul><ul><ul><li>Cool-minded </li></ul></ul>
    35. What separates ‘content’ from ‘community’ when the community is the content? What separates customer & company when a community of customers IS the company?
    36. Crowdsourcing!
    37. The world belongs to those companies that… <ul><li>Identify the right micro-verticals where customers engage deeply </li></ul><ul><li>Activate new or existing customer communities that welcome advertiser participation </li></ul><ul><li>Make the ‘network effect’ work for you through syndication & aggregation </li></ul><ul><li>Think the way industrial designers think about ergonomics – for us, it’s form factors of media consumption </li></ul>Jeffrey Rayport Founder & Chairman Marketspace LLC
    38. Birds of a Feather… Examples of Content/Community Sites
    39. E-Commerce “Magalog” / Adver-cation
    40. Exclusive Sponsorship
    41. B2B Lead Generation Using RSS Publishing
    42. B2B Lead Generation <ul><li>Publishing to </li></ul><ul><ul><li>Existing customers hungry for content </li></ul></ul><ul><ul><li>Re-sellers </li></ul></ul><ul><li>RSS </li></ul><ul><ul><li>Anyway customer wants it, when they want </li></ul></ul><ul><ul><li>Relevant content beyond products </li></ul></ul><ul><li>Delicately leveraging promotions </li></ul><ul><li>Discovering ‘info consumption’ habits of customer segments </li></ul>
    43. Integrates with Lead Gen Process Responders /Prospects Tele- qualification Qualified Lead Passed to Reseller Marketing Message w/ CTA RSS
    44. Source: Jupiter Research, 2008 <ul><li>25% of ALL Web shoppers are influenced </li></ul><ul><li>36% of ALL shoppers buy OFFLINE after being influenced by online communities </li></ul><ul><li>51% of Web shoppers age 18-24 are influenced to buy ONLINE </li></ul>Purchase Influence Within Web Communities
    45. What are They Doing? <ul><li>CONTROLLING & EXPERIENCING </li></ul><ul><li>Discovering </li></ul><ul><li>Meeting </li></ul><ul><li>Trading (barter, auctions, buying) </li></ul><ul><li>Borrowing, cheating and stealing </li></ul><ul><li>Sharing </li></ul><ul><li>Creating! </li></ul>
    46. (using the Social Web)
    47. “ Passionistas” <ul><li>43% spend 12 hours+ per week visiting sites related to their obsession </li></ul><ul><li>50% of consumers will consider buying if it’s associated with their passion </li></ul><ul><li>70% are making purchases based on experiences </li></ul>Source: MediaVest, Yahoo and Conifer Research 2008 Allows them to feel different or better about themselves
    48. “ You are interrupting their life. All advertising is unwanted. So if you’re going to crash the party bring some Champagne with you.” Bob Thacker OfficeMax Inc.
    49. <ul><li>Jeff Molander </li></ul><ul><li>[email_address] </li></ul><ul><li>Blog: </li></ul><ul><li> </li></ul>