The growth and influence of social media is unprecedented. However, while the need for consumer-facing brands to aggressively pursue a social media presence has been quite evident, many B-to-B companies have been slower to embrace the medium.
Well, now that seems to be changing. A recent Forrester Research study found B-to-B marketers are expected to increase their spending on social media activities by 490 percent between now and 2014. Why are B-to-B marketers spending so much? For starters, many have realized the enormous benefit of leveraging the power of the crowd to drive innovation. For more examples and other ways B-to-B companies are driving a competitive advantage using Social Media click here.
Creating conversations is hard, despite all the knowledge and tools at our disposal today. It should be easier than ever, right? Not quite. As is all too often the case, fear can get in the way. More specifically, fear of the social media unknown.
For many marketers, that includes the biggest “what if” of all: What if someone talks badly about your brand? The simple fact is consumers are already talking. Therefore, learning how to spark and manage conversations isn’t only essential on today’s social internet, but it might just save your job or, better yet, get you promoted.
To do it right, marketers must abandon their comfort zone of hiding behind their marketing efforts, including crafting and delivering messages, measuring sales, and then hitting the rinse and repeat button. Instead, they must be open, transparent, adventurous and unafraid. So what’s the formula for sparking and facilitating a great conversation? Here are a few suggestions from my recent blog on eM+C. More.
In a span of 2 ½ years Dell’s Stefanie Nelson helped build a following of over 1.6 million users and a $6 million dollars revenue stream for Dell through Twitter. The effort is perhaps one of the most widely covered case studies of how a Fortune 2000 brand used social media to drive sales – appearing in the WSJ, Inc. USA Today, Bloomberg and more. Now, Stefanie shares her secrets with the PMN membership detailing how @DellOutlet did it. Her advice includes:
- Start with a clear strategy and objective – i.e. “Help move inventory bubbles quickly.”
- Identify a target audience – i.e. “Price-conscious US residents in the market for a computer.”
- Post content that is relevant to your target audience, but also helps you achieve your objectives – “Use this coupon code for 15% off…”
- Get support from the top – social media is not only accepted at Dell, but encouraged.
- Look for quality followers over quantity.
- Start with existing customers – Tell them you are on Twitter & why they should follow you.
- Listen and respond – RT and build awareness among non-followers.
- Cross promote among partners, divisional efforts to grow audience.
- Be relevant and regular – post a minimum of once a week so you stay top of mind.
- Don’t forget the social in social media: Start a conversation and engage. Answer questions…people get really excited when you respond.
- Add additional objectives over time – i.e. “building customer advocacy.”
- Try something new or unique – Dell was one of the first and was innovative.
- Be flexible & willing to change direction based on trial and error.
- Track, Track, Track – determine the best time of day, frequency, and offer types that drive response. Also look at ROI metrics and sentiment.
- Stick to it – it doesn’t happen overnight.
Stefanie answered many attendee’s questions including – how big a team Dell needed to support their Twitter effort, Dell’s social media & employee engagement policy, Dell Outlet’s multi-channel integration and cross promotional efforts including the email/social media connection, what offers work best and Stefanie’s ah ha moments that highlighted the potential of the medium. To download the presentation or listen to the replay click here.
Once again, special thanks to Stefanie Nelson for sharing her thoughts with our PMN members
‘Til Next Time
I’ve got a new gig. A blog on the newly designed eM+C website called Conversations. Why Conversations? Well, I’ve been in the communications business for over 10 years now — first in email marketing and now in social media — and the one thing that has stayed true over all those years – a marketer’s desire to build an ongoing dialogue with prospects and customers. The power of building a true conversation cannot be underestimated. When done well, conversations have the ability to not only drive engagement and sales – but create a whole new army of advocates for your brand. That is why I believe conversations will be the single most powerful word in marketing for the next generation. It’s also why I’ve named my new company Conversa Marketing.
Conversa Marketing’s mission is to help marketers build marketing programs that ignite conversations, cultivate relationships and drive commerce on the social internet. The meteoric rise of the social web for many marketers is new ground. Consequently, the thought of engaging customers and the fear that those conversations may not go as intended often causes the most experienced marketers to cling to the traditional marketing channels they’ve become most dependent upon. So, how to break free of old habits – to build a conversation in this new error of marketing? Like any good rehab, it starts with a solid 12-step program – the topic of my first eM+C column. Click here to read the blog and start your recovery.
According to a recent Mzinga and Babson survey, 84% of professionals worldwide do not currently measure the ROI of their social media efforts. Pretty shocking considering today’s economic environment and the enormous pressures placed on marketers to deliver more with less. However, as is the case with any new medium, many marketers are experimenting with social media and are still, for the most part, trying to figure out how social media fits into their overall marketing efforts. As a result, measurement is often overlooked.
Therefore, when a company creates a unique and interesting program and takes the time to measure its success, it is important to share the inside scope so we can all learn. One interesting example is what Mint.com recently did by combining the power of email marketing with social media.
Launched in 2007, Mint.com has quickly become America’s No. 1 online personal finance service. Mint’s intelligent and easy-to-use approach to money management has quickly attracted more than 1.5 million users to date. Given its online audience and technologically savvy user base, Mint.com recently turned to the power of email marketing and socialized it to further drive new customer acquisition.
So what did they do? Working with StrongMail (disclosure – I currently sit on the board of directors at StrongMail) Mint.com took the time to understand user motivations and tested a series of incentives to encourage existing email subscribers to “invite” others within their social network (email, facebook, twitter, etc.) to join Mint.com. The winning campaign – one that not only encourage the most sharing but drove the most conversions — appealed to Mint.com’s existing users by providing them “insider status” through access to beta features and products prior to their roll-out to general users. In the end, the campaign drove one new user/customer for every 2.6 invite clicks – impressive. While the testing of various offers was insightful, the ability to drive new users/customers and to tag existing users as “influencers” (based on their sharing activity, conversion rate and desire for insider knowledge) was even more impressive.
If you’re interested in learning more about the Mint.com case study check out my column or you can register for the upcoming DMA/PMN Social Media Spotlight event where StrongMail will be presented the case study in-depth. Details about the event can be found on our website. Space is limited so act now.
‘Til Next Time
The New Year is quickly approaching and it seems fitting to take some time to look at a few of the key learnings from the past year. What better way to do that than to highlight some of the key take aways from some of 2009’s most successful social media marketing efforts. While we all may have different definitions of what “success” is, my look back on 2009 will focus on those social media campaigns that opened our eyes to the opportunities in social media or taught us new things about marketing.
Microsoft – I’m a PC:
After taking a beating from Apple, Microsoft finally responded with an innovative TV and multi-channel participatory marketing program that ended with two simple words – “Upload Yourself.” The campaign demonstrates that all media can be social/participatory and the importance of involving customers or the community in defining and defending your brand.
Ford – Fiesta Movement:
Ford invites 100 Gen Y’s to drive a Ford Fiesta (not available in the U.S. until next year) for six months and report their experience on various social media sites and blogs. The program demonstrates how social media and “Buzz” is the fifth ”P” –People– in the classic four “P”s of marketing (Product, Price, Promotion, Place). It also demonstrates the continued acceleration of product launch cycles and that “pre-launch” is the new product launch with today’s social web. Special congratulations to Courtney Force who was recently awarded the Favorite Fiesta Agent title.
Nike – What Do You Play For?:
Nike calls on teens to share their sports stories. Participants are encouraged to upload photos of them playing the sport they love and to share their inspirational stories. Visitors then voted on their favorites and winners received prizes. While Nike is a brand that was built on showcasing the talents of unattainable superstars like Michael Jordan and Tiger Woods (who are not without their faults), this effort demonstrates the company’s evolution by leveraging the power of participation and real people to inspire other. . In today’s social web, advertising and promotion needs to be relevant, personal, identifiable, authentic and trusted. I believe this is the start of a major shift in advertising – bottom line: celebrities are out – real people like you and I are In.
Starbucks – I’m In:
Starbucks encourages vistors to Starbucks.com and over 11,000 Starbucks locations to pledge 5 hours of community service. In exchange Starbucks is giving those that pledge a free cup of coffee. Participants also receive a pledge card and an “I’m In” badge that can be embedded on their websites to help spread the word. What’s so great about the Starbucks program is how it demonstrates the power of participation, and how organizations can be a catalyst for doing good. The program has recieved national recognition and over 2.3 million hours have been donated between consumers and Starbucks employees. Just goes to show you how marketers who think out of the box and add a little participation sweetener to their marketing efforts can not only build their brand and sales, but change the world.
1-800-Flowers.com Mother’s Day:
Using an innovative outreach program, 1-800-Flowers targeted 24 “Mommy Bloggers” filling eight archetypes (On-the-Go, etc.) of motherhood to help spur Mother’s Day sales. Chosen bloggers received a bouquet of flowers and discount codes to share with their readers. Additionally, they were recognized by 1-800-Flowers’s blogger, encouraged to write their own blogs and attended a cocktail party in their honor with CEO Jim McCann. The program was significant for several reasons – first it highlights the importance of transparency and trust on the social web. In October, the FTC published its final guidelines requiring bloggers to disclose freebies or payments. Next, the innovative program incorporated unique tracking codes allowing 1-800-Flowers to measure success of the program including redemptions by blogger/site. For the 53% of you still struggling with measuring the ROI of your social media efforts this is a start.
Westin – Want to go for a Run:
Westin’s want to go for a run is an innovative participatory marketing and social program. Within minutes of checking into my room I received a voicemail from Westin’s running concierge inviting me to join him and fellow guests to refresh my mind and body with a 3 mile running tour of the city. Not only did the program reinforce Westin’s brand positioning and messaging (relax, renew, refresh), but the program showcases the fact that the best participatory marketing programs involve your employees and are operationalized to create unique differentiated experiences.
American Express – Shine A Light:
At a time when we could all use a little inspiration, Amex hit a home run with a program that shines a light on small business and serves as a powerful and positive reminder that the American Dream is still alive and well. While the program, which invited the public to nominate, “spotlight”, and vote on the small business that most inspired them, leveraged social media the real story is in the success of the small businesses themselves. More specifically the story is about what they teach us about the importance of customer relationships management (CRM). While social media may be in the spotlight right now, we all need to remember the importance of understanding our customer’s needs and interests and mastering the marketing basics like building great products and providing exceptional service and value before we jump on the social media bandwagon.
Lots of great lessons and congratulations to all the brands who pushed the envelope and built innovative marketing programs that got us all thinking – you’ve made us all better marketers for it. For more case studies visit our case study page. Looking forward to showcasing more great stories in 2010.
‘Til Next Time.
Gen Y has spoken once again. In the latest PMN and Pace University survey we explored Gen Y’s usage and attitudes toward texting, mobile marketing, email, social networks and more. The results were enlightening. While Generation Yers do indeed spend considerable time on social networks, when asked what they would least like to give up for one week, only nine percent said social networks! In fact, the media Gen Y apparently can’t live without was…drum roll please….yup, old-fashioned email and texting.
So what’s going on here? Could it be that there is a clear division across media that includes “nice to have” non-essential sites (like Twitter and facebook) and “must have” productivity and communication tools (like email and texting)? Should Twitter and facebook be worried given they are considered less of a necessity? While no one is asking Gen Y to choose, the question is an important one for every social network and/or community player – what should you be doing now to avoid becoming just another community causality like GeoCities. For more information about our latest survey, visit the PMN website or check out some of the news coverage and let me know what you think.
Gen Y Holds Tight To Email And Texting
eMarketer: November 4, 2009
Probing GenY’ers
MediaPost: October 27, 2009
Tech Additions: Email and Texting Top Social Media In Gen Y [Study]Mashable: October 20, 2009
‘Til Next Time
He’s been called “the most famous customer service representative in the U.S. and possibly the world” by BusinessWeek and now he is sharing his Twitter secrets with PMN members. As Director of Digital Care at Comcast, Frank has been credited with reshaping Comcast’s customer service with a brilliant effort on Twitter that focused on listening to customers and then actively participating with them. So what are those secrets to his success? Here are the top 10 points that Frank made on the recent PMN webinar.
- Don’t be afraid to try new thing – be open to the possibilities of the social web
- Be everywhere your customers are
- Be, find or encourage an evangelist in your organization
- Invest in listening and ultimately participating with customers
- Be honest, transparent and responsive – adopt a “Make it Right” mentality in the customer service department
- It takes a village. Be a team player and work with your internal teams. You may even want to consider creating a cross-functional team like Comcast did.
- Find an executive sponsor/advocate – support is critical, particularly if you need to change the culture
- Measure success
- Communicate success
- Always be learning and sharing
Some great advice – thank you Frank. To hear a replay of the webinar, visit the membership section of the PMN website. Stay tuned for some more great speakers – up next how Dell made millions on Twitter…just confirming the details!
‘Til Next Time
We’ve recently partnered with Aite Research to tackle a hot topic – marketing financial products to Gen Y. It’s a top priority for many banks who for years failed to develop strong relationships with their bread and butter – boomers. Now given the tough economy, banks are turning their attention to Gen Y and asking – how are they different and how do we not mess it up this time?
Survey Surprises
While, Gen Yers were alot like older consumers in many respects there were a few surprises. For one, our survey results dispelled one of the biggest myth about Gen Yers: That is the belief that Gen Yers care less about making money than other generations. In fact, 6 in 10 Gen Y respondents indicated that making money was just as important to them as their parents and nearly a quarter indicated it’s more important. Two other surprising results were the fact that one in five Gen Yers have met with a bank representative to get help with a financial decision in the past year, and the high rate in which Gen Yers recommended their bank to family /friends – 35%. Overall, very good news for financial institutions if they can figure out how to cultivate these relationships.
The Must-Dos To Cultivate Gen Y Relationships
In perhaps the most important section of the research report, Aite senior analyst Ron Shevlin shares his thoughts and recommendations for cultivating Gen Y relationships. He begins by creating 3 distinct segments (highly engaged, moderately engaged and not engaged) of Gen Yers based on their activities. For example, among the highly engaged users 94% get email, 85% bank/pay bills online, more than half use their debit cards 15 times or a more a month, and nearly half moved money between accounts at least six times in the past 6 months. Not surprisingly, highly engaged users who account for 35% of all Gen Yers were more likely to download iPhone financial apps and use online financial related websites. In addition, highly engaged users were more likely to trust their bank, recommend their bank and were twice as likely as lower engaged users to expand the relationship they have with their banks – all compelling reasons for banks to get it together.
Ron notes, “Arguably, banks have done a poor job of developing strong, lasting relationships with their customers. As a new generation of consumers comes of age, banks have an opportunity to start fresh and avoid the relationship sins they have committed in the past.” To cultivate these relationships – Ron recommends banks:
- Develop Gen Yers’ interest in managing their financial lives
- Encourage cross-channel interaction
- Engage – not just educate
- Provide dedicated advice and guidance
- 5. Make it a family affair
- 6. Measure engagement levels
For additional survey details or to order the complete report visit Aite Research. For more insights from Ron Shevlin – visit his new blog – The Marketing Tea Party.
Well it took some time, but Google has finally narrowed down the list. Last November, I blogged about Google’s Project 10 to the 100th – an innovative global participatory marketing effort established to celebrate its 10th anniversary. Touted as “a call for ideas to change the world by helping as many people as possible,” Google garnered over 154,000 entries, and is now ready to invite consumers to vote for their favorites – the ones that they think will help the most people the most. While the process took a little longer than expected, Google whittled down the entries to sixteen “big ideas’ and is ready to write a big check as its advisory board looks to choose up to five projects to fund based on the votes.
Google’s Project 10^100 demonstrates the power of participation and takes cause marketing to the next level with a huge prize that has inspired some great thinking that just might change the world.
So where do you think the money should go? Do you want to help provide quality education to African students, drive innovation in public transport, enhance science and engineering education, create a genocide monitoring and alert system, or promote health monitoring and data analysis? Well – it’s all up to you and let the voting begin.
To cast your vote before the October 8, 2009 deadline visit the website.
Participatory Marketing 