Social Media vs Sales: from Conversations to Conversions

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Slides for my keynote during Stichting Marketing's Relationship Marketing Congres 20 May in Schelle, Belgium.

Transcript

  • Social Media vs Sales: from Conversations to Conversions Clo Willaerts, 20 May 2010
  • Women hold up half the sky. (Mao Tse-Tung) 19.05.10 Sanoma Magazines Marketing to women online - Clo Willaerts
  • Online vs offline purchases 1. Travel 2. Events 3. Clothing & shoes 4. Books 5. Digital music 6. CD/DVD/Blu-ray 7. Computers 8. Other 9. Appliances 10. Jewelry 11. Health rel. 12. Furniture 13. Decoration 14. Telco 15. Sm. electronics Source: Sanoma/InSites Women Online Study, Belgium, April 2009
  • Online Purchase Influencers
    • 68% Online coupons
    • 61% Consumer reviews on shopping sites
    • 45% Emails from companies/brands
    • 41% Articles read online
    • 36% Content on brand/company sites
    • 33% Blog recommendations
    • 32% Online community discussion forums
    • 19% Facebook/Twitter posts from friends
    • 15% Coupons/promos on mobile device
    • 11% Facebook/Twitter posts from brands
    • Source: SheSpeaks/iVillages Shopper Study Report, U.S., May 2010
  • In the U.S., aid from coupons is relied upon and appreciated Source: How will you reach her? Momentum by Big Fuel Communications, U.S., April 2010
  • Consumer reviews vs manufacturer's brand description
  • Women dominate social networks
  • Social media is...
    • decentralised publishing model
    • large user volumes
    • realtime
    • consumer-centric
    • online = offline = online
    • search engine optimised (*)
    • (*) Except for Facebook, but give it some time.
  • Decentralised publishing model
  • Large user volumes ( . pdf )
  • Realtime
  • Realtime
    • Example: Eurostar train stuck in tunnel vs @londoncream and @littlebreak
  • Consumer centric
  • Online = offline = online
  • Search engine optimised
  • Top5 social media #fails
    • Campaigns
    • Faking it
    • Race
    • Traffic
    • Free
  • Status updates are the window to your soul Source: http://youropenbook.org/
  • The opportunity? Pic source: http://www.washingtonflyfishing.com/
  • Social media vs social sales
    • Since web 2.0 the full cycle is visible
    • customer experiences drive reviews and conversations
    • Challenge: realtime
    • Opportunity:
      • catching a lead in mid-air
    • http://www. customerthink . com/blog/mckinsey_shooting_holes_in_the_sales_funnel
  • Classic sales funnel
    • The Sales Funnel
    • Fat pipeline equals skinny kids
  • The customer decision journey (McKinsey)
  • Conversity: sneak preview
  • 1/6 Initial consideration set
    • habit, tradition, trust
    • mainly consumer-driven information sources
    • visible:
      • fan on Facebook
      • wishlists
      • bio
  • 1/6 Initial consideration set
  • 2/6 Trigger: new or improved product
  • 2/6 Trigger: fashion, seasons
  • 2/6 Trigger: promotions
  • 2/6 Trigger: unexpected
    • e.g. the old one broke, accidents, retail therapy, health issues, death.
    • Challenges:
      • pain, loss, taboos.
    • Opportunity:
      • time
      • rapid social sales response
  • 2/6 Trigger: life stage
    • New baby, new job, new boyfriend, new house, ...
    • target not on demographics but on phase in life
    • online communities
  • 3/6 Active evaluation
    • information gathering
    • window shopping
      • facts (about how to use this product): content marketing
      • testimonials/reviews (what it is like to use this product)
  • 4/6 Moment of purchase
    • trust
    • convenience
    • service
  • 5/6 Postpurchase experience
    • two possibilities:
      • happy customer
        • loyalty
      • unhappy customer
        • customer care
        • rapid social response
  • 6/6 Loyalty loop
    • happy customer
      • WoM
      • fans
      • evangelist
  • Next steps?
  • Conversity.be @bnox #conversity
    • Work title: The Ultimate Guide To Tracing And Influencing Consumers Buying Decisions Through Social Media
    • Out in September 2010
    Made with http://www.oreillymaker.com/
  • And in the meanwhile...
  • This presentation: http://www.targetwomen.be http://www.conversity.be Thank you! [email_address]