how social media leads to sales: bob pearson, internet retailer conference, june 10 2010

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Internet Retailer Conference How Going Social Leads to Sales June 10, 2010 Contents are proprietary and confidential.

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Bob Pearson's presentation "How Social Media Leads to Sales" from the 2010 Internet Retailer Conference

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Page 1: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Internet Retailer ConferenceHow Going Social Leads to SalesJune 10, 2010

Page 2: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

The Cousin of the 4 P’s

#1 – The 4 A’s: A Customer-Driven Model

Page 3: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

AAA A

ACTIONAWARENESS

ASSESSMENT AMBASSADOR

Avoid the old model…the Caveman Model

Page 4: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

#2 – Customers like to do three things online more than any other action

• Share Ideas – Let’s improve the next product or service together

• Share Product Knowledge – Here is what I know…hope it helps you

• Help Peers With Problems – I had the same problem, here is what I did

Contents are proprietary and confidential.

Ideas—Knowledge—Solutions

Page 5: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Market Research to New Products & Services

Page 6: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Who are they and do you know them personally?

#3 – <50 people drive share of conversation for the largest brands in the world

Individual Reach

Individual Relevance

OutletPresence

OutletSyndication

OutletRelevance

27 Total Metrics

Outlet ScoreIndividual Score

Influence

Page 7: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#4 – Your website is just the beginning……Share your content, piece by piece, with 30x as many people

Introduce your story over time to your customers

Build your own content syndication network

Page 8: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Top Ten online influence areas Influence Areas Trend Relevance

AudioFavorite of sales force, customers on the go

Podcasts of all types, plus audio tracks of video segments are an undefined area of online, yet have growing utility

Blogs>200MM; trend is to have multiple blogs, multiple languages

We should know the top influencers by topic who drive relevant share of voice. The numbers of influencers are small, precision is key.

Data / Slides 30MM uniques at SlideShare A great location to share all public presentations.

ForumsThe engine of conversations online; often patient driven

Knowing who is driving conversation in forums is key. We should treat high volume moderators with the same respect as we do with journalists.

ImagesIs all content tagged to impact natural search?

Companies often forget to tag all content in the 10 languages that reach 95% of the online population.

Micro BloggingAn effective way to alert influencers, help propel news cycles

A great opportunity to build a network of influencers who want to share your news in real time. Twitter is a prime example.

SearchYes, Google is #1, but YouTube is #2

We need to know the influencers on the first screen for our brand and key topics. We also need to understand where people are taken when they search.

Social NetworksThe communities that are often our “first place” to go online

Our day often starts and ends with Facebook or MySpace or Orkut or other depending where we live.

VideoConsumption habits are starting to favor video vs. copy

There are over 50 video sites to analyze, which sometimes house ratings and reviews of our products.

WikisFree online peer edited

online encyclopediaNearly every topic has a Wikipedia entry, which means it could be the first information a consumer finds about any topic they are seeking information about.

Page 9: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#5 – Search is the most strategic and underleveraged tool in your arsenal today

• what are the top 5 questions being asked today by your customers?

• what is the language of your customer?

• which topics have the highest volume/rank combination?

• how do you stack up vs. your competitors exactly?

We just assume Google has the right answers…

Page 10: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Key Sales Markets

Markets Generating Online Search Interest

Conduct a Revenue/Conversation Gap Analysis

Page 11: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#6 – Reach customers directly online in decision-making mode

• Four key steps

• Know the language used in decision-making

• Scrape the conversations occurring in real time

• Deliver them to a special folder based on type of conversation

• A stumbling block – answer a key question

• A ready buyer – offer content, coupon, other

• An advocate – provide them with info to share with others

• Outreach directly to the potential customer with a solution or to begin a conversation

• Tag the conversation so you can track where they go

Page 12: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#7 – The Current Customer Support Approach is a “Dinosaur Model”It is becoming extinct without the owner realizing it……

Page 13: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

The future of customer support

• <10% of your customers will call or inquire to you each year

• Reaching 100% online improves support and leads to additional commerce

• Yahoo! Answers, Mahalo and other sites are premier place for Q&A

• YouTube is the 2nd largest search engine and a primary place for learning by topic

• Your customers want to participate in helping out

• Ex/Accepted Solutions – 15,000 in 8 months with an average of 350 views per solution

• Empower advocates, help the “sharers”, be present in search and integrate into peer influence

Page 14: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#8 – Why video is becoming the favorite place to learn

• 2005 – YouTube created by three former PayPal employees

• High growth of broadband and fiber access

• Bigger pipes, easier to view video

• Why video learning is so important

• Visual info can improve understanding of spoken words as much as sixfold (Baylor)

• The brain uses images to clarify ideas; interact with images to create engagement; and augment memory with persistent and evolving views (Ted, 09)

• A new prime time now exists – 9pm to 1am (local)

• Highest rate of video viewing around world

Page 15: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Top 5 Online Conversations

Content Gap Opportunity

Top 5 SearchTerms

Available Brand Content

#9 – The Content Gap Analysis Model (by topic)

Page 16: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

#10 – Change how you measure ad campaigns

• #1 How did search habits change?

• #2 What recommendations are occurring?

• #3 How much sharing of content is occurring?

• #4 Are people signing up to continue receiving content?

• #5 Where is silence occurring and why?

• #6 When does the sensitivity to your promotion stop online once you halt the promotional activity?

Page 17: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

Brand + Personality is a Winning Combination

Pathway to Success for a Fortune 100 Company in Twitter:

#1 in their industry.

Launch Twitter Feed to push Corporate

Headlines Only.

Broaden Tweet topics, begin including

hyperlinks to content.

Personalize the feed with a real company

employee at the helm.

Become a real member of the community by

beginning to @-Reply and Retweet

Page 18: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

MESSAGE

EXPERIENCE

CONVERSATION

RELATIONSHIPS

AFFINITY&

TRUST

We Become Conversation Architects

Page 19: How Social Media Leads to Sales: Bob Pearson, Internet Retailer Conference, June 10 2010

Contents are proprietary and confidential.

blog.wcgworld.com@bobpearson1845