How to turn your Facebook fans intoyour Most Valuable Customers?Jai RawatFounder & CEO ShopSociallyhttp://ShopSocially.com...
So you have acquired some Facebookfans. Now what?Looking to acquire more fans? We’ll cover that too…                    Co...
What‟s a Fan?                Company Confidential   3
True FanKevin Kelly, “1000 True Fans”A True Fan is defined as someone          They bookmark the eBay pagewho will purchas...
99% of Facebook Fans are not TrueFans by that definition              Company Confidential   5
What do Facebook Fans Want?             Company Confidential   6
Why do you “Like” a brand?                                          to interact             13%               for educatio...
Edge Rank: Use „em or Lose „em             Company Confidential   8
Two Important Concepts                                       SocialHomophily                                     Influence...
HomophilyWe usually hang around with people like ourselves                    Company Confidential        10
Social InfluenceWe subconsciously copy what our friends do                Company Confidential         11
How does that help?HomophilyYour customer’s friends are a great targetYour Fan’s friends will probably Like you too!Social...
Creating Social InfluenceOrganic (news feed)impressions aremost effective                      Company Confidential   13
Therefore…Keep fans engaged or you risk losing them foreverGetting fans to share & recommend is the keyIt not only creates...
Psychologists call it “Consistency of Behavior”                  Company Confidential       15
Strategies•   Promoted Posts•   Sponsored Stories•   Facebook Offers•   Like gated deals•   Flash Sales•   Polls          ...
Promoted Posts                                    Available to pages with                                    400 to 100,00...
Sponsored Stories                                    Highlight news feed                                    stories about ...
Facebook Offers      Enables you to create and post discount      offers to your fans. Whey they “claim”      it, it gets ...
Like Gated DealsStandard Campaign-Linear Reach (Only reaches original receivers)-Low Trust (B2C messaging)                ...
Like Gated Deals  ViralCampaign-Exponential Reach-3x Higher Trust(Friend recommendation)       65% off Canvas Prints      ...
Flash Sales              Company Confidential   22
Poll Creation   DNA FW                Company Confidential   23
We promised to talk about FanAcquisition Too              Company Confidential   24
Ouch!        Company Confidential   25
Best Strategy…Convert Site Visitors into Fans WITHOUT sending them to Facebook      Dual Benefit: Fan Acquisition PLUS Hig...
Summary• Facebook fans are hugely important because  – They can create „network effect‟, reaching out to the    right targ...
Thanks!          339 Bernardo Ave, Suite #200,            Mountain View, CA 94043             http://ShopSocially.com     ...
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How to Turn Your Fans Into Your Most Valuable Customers

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Facebook fans are the social equivalent of email subscribers. However, while most companies know how to monetize their email subscribers, Fan monetization remains has remained elusive.

With the right strategy Facebook fans can be turned into your most valuable customers. Not only can they be loyal customers themselves, but they can also help you unlock the power of "network effect" and generate exponential word-of-mouth reach. This presentation discusses strategies to acquire, engage and monetize your fan base; shares best practices and shows some live examples and stats from ShopSocially's platform.

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  • Welcome everyone. Looks like we have a few stragglers today. While we wait, let’s have a little bit of fun. Let me share with you a Dilbert comic strip I came across recently. Here it is.
  • I will give you a minute to read it. (pause) and then may be I will need to give you another minute to pick yourself up from the floor. I am sure you are all ROTFL. That’s Rolling on The Floor, Laughing for the uninitiated. Now comes the question – who do you identify with here? What is your role in the organization: Beth, Dilbert (engineer), Pointy haired boss, none of the above. [POLL]Good morning and good afternoon. I am Jai Rawat, Founder and CEO of ShopSocially. In this webinar I will share some of the learnings with you from the latest phenomsPinterest and Fab.com. We will talk about their amazing success, identify some common themes and differences and finally end with some ideas on how you can benefit from these learnings for your own site.In this webinar, my part of the presentation is expected to last about 30-35 minutes with an additional 10-15 mins of questions. I expect the whole webinar to last about 45 minutes. We have over 75 attendees today. There is clearly a lot of Pinterest, I mean interest in this topic. Let’s keep the webinar interactive and have the questions roll in as they come up. Please don’t wait till the end. Given that we have so many attendees, I request you to type your questions in. I will answer them at the appropriate point in the flow. Let me also introduce my colleague Rob Danielson, VP of sales who will be keeping track of the questions as they come in. If we have some time left over at the end, we can also do a live Q&A at that point.
  • Really great because once we have fans, we can find more people like them by targeting their friends
  • Word-of-mouth is also much more highly trusted – 3x higher than brand stuffSponsored stories work 300-400% better than ads. Problem is that there is very little content
  • A fan is worth nothing. A fan is worth something only when they do somethingYou really need them to get to act
  • Psychologists call it “Consistency of Behavior”. It is almost a defect in human psychology. We are full of inconsistencies but we all like to think that we are consistent. That’s why getting some to make a small public commitment goes a long way in ensuring loyalty. Getting someone to simply write down a resolution on a piece of paper can create that public commitment which acts as a powerful motivator
  • & their friends if they interact with it
  • Let’s look at a standard email or Facebook marketing campaign. The email goes out to say a million users, a small fraction of them decide to act on the offer, visit the site and make a purchase and you get may be a couple of hundred sales from that.
  • But what if you could get these users to also share the promotion with their friends in the process? You are still reaching out to the same audience but now you are getting them to spread the word in addition to using the offer for themselves.
  • How to Turn Your Fans Into Your Most Valuable Customers

    1. 1. How to turn your Facebook fans intoyour Most Valuable Customers?Jai RawatFounder & CEO ShopSociallyhttp://ShopSocially.comjai@shopsocially.com Company Confidential 1
    2. 2. So you have acquired some Facebookfans. Now what?Looking to acquire more fans? We’ll cover that too… Company Confidential 2
    3. 3. What‟s a Fan? Company Confidential 3
    4. 4. True FanKevin Kelly, “1000 True Fans”A True Fan is defined as someone They bookmark the eBay pagewho will purchase anything and where your out-of-print editionseverything you produce. show up. They come to your openings.They will drive 200 miles to seeyou sing. They will buy the super They have you sign their copies.deluxe re-issued hi-res box set of They buy the t-shirt, and theyour stuff even though they have mug, and the hat. They cantthe low-res version. They have a wait till you issue your nextGoogle Alert set for your name. work. They are true fans. Company Confidential 4
    5. 5. 99% of Facebook Fans are not TrueFans by that definition Company Confidential 5
    6. 6. What do Facebook Fans Want? Company Confidential 6
    7. 7. Why do you “Like” a brand? to interact 13% for education about company topics 13% to learn more about the company 21% someone recommended it to me 22% to get access to exclusive content 25% for fun or entertainment 29% to get updates on upcoming sales 30% to get updates on future products 33%to stay informed about the activities of the company 34% to get a “freebie” 36% to show my support for the company to others 39% to receive discounts and promotions 40% Deals & Discounts Company Confidential 7 Source: Constant Contact
    8. 8. Edge Rank: Use „em or Lose „em Company Confidential 8
    9. 9. Two Important Concepts SocialHomophily Influence Company Confidential 9
    10. 10. HomophilyWe usually hang around with people like ourselves Company Confidential 10
    11. 11. Social InfluenceWe subconsciously copy what our friends do Company Confidential 11
    12. 12. How does that help?HomophilyYour customer’s friends are a great targetYour Fan’s friends will probably Like you too!Social InfluenceYour Customers & Fans can help influence them Company Confidential 12
    13. 13. Creating Social InfluenceOrganic (news feed)impressions aremost effective Company Confidential 13
    14. 14. Therefore…Keep fans engaged or you risk losing them foreverGetting fans to share & recommend is the keyIt not only creates a powerful social influence……and improves the edge rank…it also creates public commitment…which significantly impacts future behavior &preferences Company Confidential 14
    15. 15. Psychologists call it “Consistency of Behavior” Company Confidential 15
    16. 16. Strategies• Promoted Posts• Sponsored Stories• Facebook Offers• Like gated deals• Flash Sales• Polls Company Confidential 16
    17. 17. Promoted Posts Available to pages with 400 to 100,000 Likes Increases the number of fans that will see your post Company Confidential 17
    18. 18. Sponsored Stories Highlight news feed stories about interactions people have had with your brand. Makes it more likely that their friends will see them Company Confidential 18
    19. 19. Facebook Offers Enables you to create and post discount offers to your fans. Whey they “claim” it, it gets shared with their friends. May not be available to larger retailers. Company Confidential 19
    20. 20. Like Gated DealsStandard Campaign-Linear Reach (Only reaches original receivers)-Low Trust (B2C messaging) Company Confidential 20
    21. 21. Like Gated Deals ViralCampaign-Exponential Reach-3x Higher Trust(Friend recommendation) 65% off Canvas Prints http://www.ritzpix.com/ 21 Company Confidential
    22. 22. Flash Sales Company Confidential 22
    23. 23. Poll Creation DNA FW Company Confidential 23
    24. 24. We promised to talk about FanAcquisition Too Company Confidential 24
    25. 25. Ouch! Company Confidential 25
    26. 26. Best Strategy…Convert Site Visitors into Fans WITHOUT sending them to Facebook Dual Benefit: Fan Acquisition PLUS Higher Conversion Company Confidential 26
    27. 27. Summary• Facebook fans are hugely important because – They can create „network effect‟, reaching out to the right target audience – They can exert significant social influence• Best strategy to leverage Fans – Engage them with deals, polls (most effective) and other content – Get them to share • Create Like gated offers • Creates social influence + public commitment – Convert each user post into a sponsored story Company Confidential 27
    28. 28. Thanks! 339 Bernardo Ave, Suite #200, Mountain View, CA 94043 http://ShopSocially.com Jai Rawat Founder & CEO jai@shopsocially.com (408) 242-4494 Company Confidential 28

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