The Power of Social Referrals
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Keynote presentation with Extole and Vistaprint from 2012 Social Commerce Strategies conference. The presentation includes an overview of social referral programs, as well as an overview of Vistaprint's social referral program and promotions powered by Extole.
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The Power of Social Referrals
- 1. THE POWER OF SOCIAL REFERRALS Trevor Legwinski, Director of Product Marketing, Extole Michele Farley, Affiliate Marketing Mgr, Vistaprint @Extoleinc @Vistaprint January 24, 2012
- 2. CONSUMER BEHAVIOR IS CHANGING Users share 4B things a day on “90% of consumers trust Facebook. Every year, people will recommendations from their friends share 2x as much as the year before – 3x more than online ads” - Mark Zuckerberg, 2011 - Nielsen, 2009 “74% of consumers rely on social “75-90% of the top 10 search results networks to help them make on any SERP have at least 1 purchase decisions” Facebook like or Twitter tweet” - Gartner, 2010 - BrightEdge, 2011 Bing now delivers personalized Content recommended by friends is search results based on what your often more relevant than content friends like from strangers. - Bing, 2011 - Google, 2011 2 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 3. SOCIAL BY THE NUMBERS • Social networking sites reach 82% of the world’s online population; representing 1.2 billion users worldwide • Facebook ~800M estimated; 1 Billion users by Dec 2012 • Google + currently ~62M users; on track to reach 400M in year • Twitter ~200M profiles • LinkedIn ~135M members • 1 in 5 minutes spent online is social networking; 3 in 4 minutes on social networking on Facebook 3 © 2011 Extole, inc. All rights reserved. Proprietary/Confidential.
- 4. SEARCH BY THE NUMBERS • Google Searches – ~1 Billion per day; ~42M per hour ; ~47K per second – ~15% all searches came from mobile devices, Early 2011 • Google Revenue – $29B 2010 Digital $ – 97% from search 4 © 2011 Extole, inc. All rights reserved. Proprietary/Confidential.
- 5. SEARCH IS BECOMING SOCIAL 5 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 6. THE MARKETING OPPORTUNITY TRADITIONAL NOW Brand Created Customer Generated One Directional – Push Marketing Two Directional – Social Marketing Less Trusted, Trusted, Becoming Less More Effective, Effective Wider Reach 6 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 7. C2C MARKETING GETS YOUR CUSTOMERS TO SHARE Acquisition & Sales Traffic & Awareness Social ROI & Insight Social Advocates Social Content Trusted Referrals Measurable Social Promote Brand Amplifies Awareness from Friends Results 7 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 8. C2C MARKETING BENEFITS Grow Acquisition Increase Traffic & Gain Social Insight & Sales Awareness & Measure ROI • Increased volume • New referral traffic • Understand your of new leads to brand.com brand’s social graph • Higher AOV • Increased shares (Average Order in the social graph • Track advocates & Value) & LTV influence across • Improved Social channels • 5x conversion over SEO rankings other channels 8 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 9. ABOUT EXTOLE Extole is the leading Consumer to Consumer (C2C) Social Marketing Platform for brands and agencies to turn customers into social advocates, tapping into a powerful new marketing channel • Powering 200+ leading brands & agencies • Founded in 2009 • Based in San Francisco with over 60 employees 9 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 10. ABOUT VISTAPRINT • Leading online provider of professional marketing products and services to micro businesses and the home • Micro business = business with 1-10 employees • Founded in 1995 • Operate 24 localized websites and ship to over 120 countries • Serve over 11M customers annually • 3,100 employees globally 10 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 11. VISTAPRINT ACQUISITON + SOCIAL STRATEGY • Vistaprint customer acquisition centered around traditional media • Looking for social media conversational platform to interact with customers • Interested in building WOM referral program • Extole’s strength was in peer-to-peer referrals 11 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 12. SOCIAL REFERRAL PROGRAM Challenge: • Vistaprint has always had a loyal base of users that love the brand • Needed a way to easily let users share and provide incentives for doing so • Didn’t want to spend valuable internal resources building an entire system to track and fulfill Goals: • Drive measurable social activity and significant incremental new user sales by offering a referral incentive that entices users to share 12 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 13. OPTIMIZATION Optimized to make sharing process one step, seamless 13 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 14. PROMOTING THE REFERRAL PROGRAM 14 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 15. PROMOTING THE REFERRAL PROGRAM 15 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 16. PROMOTING THE REFERRAL PROGRAM • Messaging to repeat customers • Unique message to program participants 16 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 17. CROSS CHANNEL PROMOTION OF THE PROGRAM Post-‐purchase environment Dedicated Facebook Tab Site-‐wide footer Holiday email drop 17 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 18. SOCIAL REFERRAL RESULTS New Advocates by Month Shares by Month 14,000 90,000 12,000 80,000 70,000 10,000 60,000 8,000 50,000 6,000 40,000 30,000 4,000 20,000 2,000 10,000 New Advocates Shares by Month Results-to-date: • Program has grown 60% from 2010 – 2011 • Cost of acquiring customer ¾ of traditional media • Over 200k participating advocates • On average, every advocate shares over 4 times per session • Every share receives an average of 2 ‘Friend Clicks’ across sharing channels • Higher conversion rates than any other channel 18 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 19. SOCIAL CONTENT CREATED 19 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 20. SOCIAL PROMOTIONS – POLLS & GROUP BUYING 20 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 21. VISTAPRINT KEY TAKEAWAYS TAKE AWAY POINTS Value in WOM marketing, using current customers as sales force Deliver messaging at positive, post-transactional touch points Re-market the program to keep users engaged and encourage sharing (ongoing) Strategize on how referrals can tie into existing and new social efforts
- 22. CONCLUSION TAKE AWAY POINTS Consumer behavior has drastically changed, consumers trust content from friends and peers Social is becoming an integral part of search and your SEO strategy Consumer-generated content is a critical part of your marketing strategy Your customer advocates can become one of your best marketing channels Social referral programs encourage the creation and sharing of consumer-generated content 22 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
- 23. Contact Us: hello@extole.com San Francisco 625 2nd Street, Suite #101 San Francisco, CA 94107 23 © 2012 Extole, inc. All rights reserved. Proprietary/Confidential.
Notas do Editor
- Co-brand w/vista print
- To set the stage for why C2C Social Marketing is so important, let’s talk about how consumer behavior is changing. People share more online every day. “Zuckerberg’s Law” states that the amount of consumer sharing online is doubling year over yearAt the same time, consumers trust recommendations from their friends (and strangers) 3x more than they trust brand messages online. 74% of consumers now say that they rely on social networks to help them make purchasing decisionsSearch engines are responding to the value of user-generated content and factoring it higher into their algorithms, displaying social content higher on Search Engine Results Placement (SERP) pages. Both Google and Bing have recently announced updates to their search algorithms to include user-generated content. And they are taking it even further, looking at how to personalize search results based on what friends like.
- Use highlighted words as speaking guideChart shows total global internet visitors in blue and social networking in yellow
- 1 Billion Google Search per day Show of hands how many people in the audience have used Google in the last 24 hours? So…if consumers are spending record time on Social Networks AND according to logic and the Nielson Study highest degree of trust is friends and strangers (i.e. people leaving product reviews who influence our purchase behavior – show of hands anyone use a recommendation/referral from a friend OR consumer review that influenced something you have purchased in the last 60 days?”- So if we spend more time on social networks, we have ability to exponential connect via friends, likes, followers
- Google – Search Plus Your World Bing – Integrating large amounts of friend data to help you make purchase decisions. Facebook partnership allows Bing to tap into the search experience. See what content your friends have liked, bought and content they have shared related to your topic of search. Making search a much more collaborative experience and further instilling why brands need to focus. Bing now powers Facebook’s internal search engine.
- What this means is that there is a massive new marketing opportunity for companies. Traditional B2C or B2B marketing approaches push out brand content to the market – whether via traditional channels – print, TV, radio, billboard, or digital channels – search, display, social networksYou may question whether this brand-focused approach applies to marketing via social networks. Over the past few years, brands have used social networks to build a presence, but this presence was really just an extension of their traditional marketing approach, pushing brand content out to these social channels. They are building brand pages and driving likes, fans, and engagement, but struggling with the ROI of their social marketing investments.At Extole, we see an enormous new opportunity for marketers to harness the reach of their social advocates and foster consumer-to-consumer, social dialogues about their products – generating trusted WOM referrals and amplifying reach. Brands have the opportunity to identify loyal social advocates who are willing to create content and promote the brand for them. The increase in consumer sharing online, combined with the reach of social networks has produced an incredible new channel for brands to drive high quality sales and acquisition through social referrals
- C2C Marketing is based on the premise of WOM Marketing. Word of mouth has always been a high-value marketing channel for brads; however, there wasn’t an easy way to automate and measure this traditionally offline process. With the increasing amount of consumer online sharing and conversations brands have a new opportunity:Brands can identify advocates & motivate advocates to promote the brand to their social communities – turning them into “social advocates”The promotions and recommendations create social content – emails, shares, tweets, testimonials, conversations, which, in turn, amplify awareness and reachFriends receive trusted referrals and either purchase, redeem, or register – which restarts the cycle as these new customers in turn become advocates themselves.The C2C Marketing process results in measurable social results – new high-value leads and sales, increased traffic and awareness – including improved search based on the social content generated, social insight and ROIAnd the entire process amplifies over time
- Extole is the leading Consumer-to-Consumer (C2C) Social Marketing platform that enables brand and agencies to turn existing customers into social advocates. Advocates that promote the brand to their social graphs, tapping into a powerful new marketing channel based on the power of social referrals.We were founded in 2009 and are based in San Francisco, CA. To date, we power social referrals for over 200 brandsWe’re part of the Facebook Preferred Developer Community and a member of WOMMA – the word of mouth marketing association
- Add Vistaprints twitter handle
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