Social Influence Marketing at InBound Marketing Summit
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The document outlines 5 ideas for social influence marketing: 1. Practice social influence marketing everyday and link it to other marketing efforts. 2. Focus on relationships, including different influencer types. 3. Put the community at the core of the brand by engaging and listening to community members. 4. Retool the marketing department to focus more on customer participation, listening, and designing for social media. 5. Measure key metrics like conversation share, sentiment, and influence to calculate a "SIM score" and tie it to other business metrics.
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Social Influence Marketing at InBound Marketing Summit
- 1. Social Influence Marketing: 5 IDEAS October 10, 2009 @shivsingh http://goingsocialnow.com
- 2. The purpose of a business is to create a customer – Peter Drucker “ ” @shivsingh http://goingsocialnow.com
- 3. The purpose of a business is to create a customer who creates customers @shivsingh http://goingsocialnow.com
- 4. Leaving your only job to be taking care of your existing customers Trust me, that’ll be harder not easier… @shivsingh http://goingsocialnow.com
- 5. IDEA 1: Practice SIM everyday @shivsingh http://goingsocialnow.com
- 6. BRAND MARKETING DIRECT RESPONSE SOCIAL INFLUENCE MARKETING IDEA 1 @shivsingh http://goingsocialnow.com
- 10. IDEA 2: Focus on the relationships @shivsingh http://goingsocialnow.com
- 11. It is not just about a platform, yours or anyone else's IDEA 2 @shivsingh http://goingsocialnow.com
- 12. Find out who is influencing your customer. Research influencer types IDEA 2 @shivsingh http://goingsocialnow.com CUSTOMER
- 13. IDEA 2 At different stages in the marketing funnel @shivsingh http://goingsocialnow.com
- 14. Don’t break the trust or get into trouble with the FTC @shivsingh http://goingsocialnow.com
- 16. IDEA 3: Put your community at the core @shivsingh http://goingsocialnow.com
- 17. 72% of internet users say they are exposed to too much advertising IDEA 3 @shivsingh http://goingsocialnow.com
- 18. And publishers can’t just depend the same old strategies and tactics IDEA 3 @shivsingh http://goingsocialnow.com
- 19. So harness all of social IDEA 3 @shivsingh http://goingsocialnow.com Consumer Controlled High Fragmentation Influential Proprietary Low reach Information rich Expected High Reach Database Web sites SEO Branded Content Media partnerships PPC Display ePOS SMS/MMS Social marketing Blogs, forums UGC Viral/Seeding cost per interaction OWNED EARNED 2ct 10ct BOUGHT $1 2ct SOCIAL MEDIA
- 20. By putting community at the core of your brand Your Community Your Brand IDEA 3 Your Brand Your Community @shivsingh http://goingsocialnow.com
- 23. IDEA 4: Retool your Marketing Department @shivsingh http://goingsocialnow.com
- 24. What does this really mean? IDEA 4 @shivsingh http://goingsocialnow.com
- 25. IDEA 4 CMO Advertising Public Relations Product Marketing Customer Research Marketing Operations Interactive Marketing Media Brand Social Media Dude @shivsingh http://goingsocialnow.com
- 27. IDEA 5: Measure @shivsingh http://goingsocialnow.com
- 28. Measure everything IDEA 5 @shivsingh http://goingsocialnow.com
- 29. IDEA 5 @shivsingh http://goingsocialnow.com
- 30. What’s your SIM Score? SIM Score = Conversation Share + Sentiment * *Adjusted for influence IDEA 5 @shivsingh http://goingsocialnow.com
- 31. And account for the real world too @shivsingh http://goingsocialnow.com Company Share of Voice Net Sentiment SIM Score Bank of America 31.6% 66% 32 JPMorgan Chase 20.7% 62% 20 Wells Fargo 13.5% 71% 15 Citibank 13.6% 66% 14 Capital One 9.19% 69% 10 Wachovia 11.1% 62% 10 Company Online Share of Voice Offline Share of Voice Online Net Sentiment Offline Net Sentiment Bank of America 31.6% 33% 66% 66% Capital One 9.19% 5% 69% 74% Citibank 13.6% 16% 66% 55% JPMorgan Chase 20.7% 17% 62% 64% Wachovia 11.1% 16% 62% 50% Wells Fargo 13.5% 14% 71% 73% IDEA 5
- 32. Mutual Funds: SIM Score over three weeks @shivsingh http://goingsocialnow.com
- 33. Apparel Retailers: SIM Score over three months @shivsingh http://goingsocialnow.com
Editor's Notes
- The social space is first and foremost about people and relationships. Technology and platforms come and go.
- If control of the brand no longer resides completely in the hands of the brand itself, what are the guideposts to help brands join the conversation? To answer this, we looked at how consumers are influenced by social media as they move through the marketing funnel. When asked how certain sources influence respondents in the awareness, consideration, & action phases of marketing a purchase, respondents consistently attribute strong to heavy influence to word of mouth from known peers, both online and offline. In terms of brand perception during the awareness phases, independent blogs play a moderately influential role, trailing peer influencers by 31 percent. Interestingly, user-generated content from social influencers was just about as influential as corporate blogs. But as we move toward the action phase – when a purchase is about to e be made – influence from known peers asserts a substantial lead position. Independent blogs form key influencers exhibit little sway during the purchase phase, and branded corporate blogs exert almost none.
- On the left is Best Buy’s more traditional digital presence in the form of its website and a display advertisement. On the right is the CMO’s blog which as you can see from the image is more personal and casual. Below that is his Twitter feed which includes personal replies. And at the bottom is another Best Buy employee’s Twitter account.
- Customer Listening Customer Participation Customer Care
- Customer Listening Customer Participation Customer Care