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Word of Mouth: the Currency of Social Media

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Willem Sodderland is the CEO & Founder of Buzzer, Europe's leading Word of Mouth Marketing agency. He is presenting 'Word of Mouth, the Currency of Social Media', at the Social Media Marketing Tag in Winterthur, Switzerland, on the 8th of september 2010. The conference was organized by GS1.

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Word of Mouth: the Currency of Social Media

  1. 1. Word of Mouth<br />The currency of social media<br />Social Media Marketing Tag<br />Switzerland, 8 september 2010<br />Willem Sodderland <br />Founder & CEO of Buzzer<br />
  2. 2. Word of Mouth: from Urzeit to Today.<br />Word of Mouth<br />The act of consumers providing information to other consumers.<br />Urzeit<br />2010<br />Word of Mouth Marketing<br />Giving people a reason to talk about your products and make it easy to do so.<br />
  3. 3. Logic (part 1).<br />Social media ≠ objective.<br />The objective = market success.<br />
  4. 4. Word of Mouth = Market Success.<br />“Word of mouth is the primary factor behind 20-50% of all purchasing decisions. And its influence will grow: the digital revolution has amplified its reach”<br />McKinsey, 2010<br />Your Experiences<br />
  5. 5. Logic (part 2).<br />Social media ≠ objective.<br />Objective = market success.<br />Market Success = Word of Mouth<br />Word of Mouth ≠ priority investment<br />=<br />Invest in WoM = max. RoI<br />
  6. 6. 3 Musketeers & 1600 Hairdressers<br />&<br />
  7. 7. 1. Buzzing Basics<br />&<br />Product Experience<br />Buzzers<br />
  8. 8. 2. Boosting Word of Mouth<br />BuzzTools: Storytelling & Conversation Starters<br />
  9. 9. 2. Boosting Word of Mouth<br />BuzzTools: ↑Trial & Online WoM<br />
  10. 10. 3. WoM Strategy: Monitoring<br />SMM Tools<br />Listening, capturing insights<br />SMM Tools<br />
  11. 11. 3. WoM Strategy: Objectives & Metrics<br />Promoters<br />Passives<br />NPS<br />Detractors<br />+40<br />+2<br />Before<br />After<br />Consumer Reviews in Google<br />↑ Net Promoter Score<br />
  12. 12. 3. WoM Strategy: Quantity & Quality<br />2000<br />450.000<br />In 2008, Buzzer launched OMO Small & Mighty, a new detergent, for Unilever. Mindshare Insights conducted in-depth research on the results of the Campaign. 4 groups were compared: control groups that were exposed to advertising and sampling, the Buzzers and the people they buzzed. <br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />“The reach of buzzing is huge”<br /><br /><br />
  13. 13. 3. WoM Strategy: Cost Per Conversation & RoI<br />{<br />Shipping & Handling<br />G0+G1+G2<br />€ 14,8K<br />3rd Party<br />€ 12, 2K<br />Total WoM<br />Production<br />€ 49,5 K<br />Buzzer Fee<br />WoM 450.000<br />€ 76,500<br />CPC = € 0,17<br />
  14. 14. 3. WoM Strategy: Actionable Insights<br />3.756 BuzzReports<br />Packaging Change<br />Line Extensions<br />BuzzPolls<br />Usage Tips<br />Recipe Suggestions<br />
  15. 15. WoM ≠ ‘Like’ & ‘Fans’<br />Ask Thomas Hutter !<br />
  16. 16. WoM ≠ 9 out of 10…<br />“Willem’s presentation at GS1’s SMM Tag was the best ever given anywhere. And he is very, very handsome” <br />I. Maginary, SMMT Attendant<br />Buy Willem Now !<br />(limited pieces left)<br />9 out of 10 people* that did not see the presentation said it would have improved the quality of their lives if they had witnessed it. <br />* Tested among a sample of hypothetical people.<br />
  17. 17. More (questions) ?<br />Mark Leinemann<br />&<br />mark@buzzer.biz<br />www.slideshare.net/sodderland/smmt2010<br />

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