Reaching The Social Customer: New Tools, New Strategies
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Featuring Jon Miller, Adam Metz and Michael Lazerow. Moderated by Brent Leary.
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Reaching The Social Customer: New Tools, New Strategies
- 2. Social Media Today Best Thinkers Series presents: Reaching The Social Customer: New Tools, New Strategies Brought to you by &
- 3. How to Participate • Submit your questions in the GotoWebinar presentation window • Follow along and share your thoughts on Twitter at #SMTlive
- 4. About the Moderator Brent Leary, @BrentLeary Brent Leary is a CRM industry analyst, advisor, author, speaker and award winning blogger. He is co-founder and Partner of CRM Essentials LLC, an Atlanta based CRM advisory firm covering tools and strategies for improving business relationships. In 2009 he co- authored Barack 2.0: Social Media Lessons for Small Business. Recognized by InsideCRM as one of the 25 most influential industry leaders, Leary also is a past recipient of CRM Magazine's Most Influential Leader Award. He serves on the national board of the CRM Association, and on the advisory board of the University of Toronto's newly created CRM Center of Excellence. He's been quoted in several national business publications, including the Wall Street Journal, Newsweek and Entrepreneur magazine. Leary serves on the editorial advisory board of The Atlanta Tribune magazine, writes the Social CRM column for Inc.com, and blogs at BrentLeary.com.
- 5. About the Panel Jon Miller, VP of Marketing and Co-Founder, Marketo, @JonMiller2 Jon leads strategy and execution for all aspects of Marketo's hyper-efficient demand center (powered by Marketo's solutions, of course). He explores everything from lead nurturing and social media to marketing ROI and revenue performance management in Marketo's popular blog, Modern B2B Marketing, and was named a Top 10 CMO for companies under $250 million revenue by The CMO Institute. Before co-founding Marketo, Jon held positions at Epiphany, Exchange Partners, and Gemini Consulting. Jon graduated Magna Cum Laude in Physics from Harvard College and has an MBA from the Stanford Graduate School of Business. Michael M. Lazerow, Chairman and CEO, Buddy Media, Inc., @Lazerow Michael is a serial entrepreneur who has co-founded four successful internet-based media companies. He has a passion for creating, managing and growing companies from the ground up. Michael is currently Chairman and CEO of Buddy Media, Inc., a New York-based company whose Facebook management system, the Buddy Media Platform, is used by eight out of the top ten global advertisers. Before Buddy Media, Michael founded University Wire, an Associated Press-like network of more than 700 student-run newspapers, now owned by CBS Corp, and GOLF.com, a profitable online golf media company purchased by Time Warner's Time Inc. in January 2006. Adam Metz, VP of Business Development, Metz Consulting, @themetz Adam Metz is the VP of Business Development at Metz Consulting the social concept. Metz's Social Customer Community, at http://metz.customerhub.net offers a no-cost 9-hour training course on social customer relationship management. Metz has consulted with nearly 100 companies on how to acquire, manage, monetize and retain customers from the social web. His first book, There Is No Secret Sauce, has sold or downloaded over 3000 copies, and is currently in its third printing. Metz's second book, The Social Customer, was released on 9/16/11 and has hit #1 on the Amazon marketing charts.
- 6. The New Social Customer • Buying has changed forever • How business needs to evolve • Lead nurturing • Seed nurturing Jon Miller VP Marketing Marketo @jonmiller2 Page 6 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 7. Buying Has Changed Forever OLD DAYS: INFO SCARCITY TODAY: INFO ABUNDANCE 1960s – Recent BUYER SALES REP SALES REP Page 7 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 8. Page 8 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 9. <25% of New Prospects Are Ready for Sales 25% Sales Ready 50% Need Nurturing 25% Disqualified Source: RainToday Page 9 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 10. Lead Nurturing Plugs the Leak Building relationships with qualified prospects regardless of their timing to buy, with the goal of earning their business when they are ready. MQL Prospect & SAL All Names Recycled Engaged SQL Lead Sales Lead Lead Opportunity Nurturing ROI: 50% more marketing leads Page 10 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 11. And Now It’s Changing Again More than 1 Billion Social Users Chart courtesy of Salesforce.com Source: Comscore, July 2011 Page 11 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 12. And Now It’s Changing Again Declining Email Usage for <55 Segment Page 12 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 13. The New Revenue Cycle Prospect Lead Known Awareness Friend Opportunity Customer Names Nurturing Database Traditional Generating Developing Relationships Brand “Like” (Email, Social, Offline) Page 13 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 14. Introducing “Seed Nurturing” Seed nurturing is the process of building relationships with qualified prospects before you have their contact information. Listening / Scoring Engaging / Nurturing On Your Site • Anonymous visitor • Dynamic content / analysis personalization • Anonymous Off Your Site • Social data profiles • Sharing content (e.g. Facebook Wall, • Online media • Listening and social Twitter) signals • Social media • Retargeting • Facebook Open Graph Page 14 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 15. Before Before Now Google Social Information • Information • Information • Information Availability Scarcity Online Abundance • Brand and • SEO, PPC, • Social and Awareness Email Content Marketing Marketing • All Leads • Lead Nurturing Processes Passed to • “Seed Sales • Lead Scoring Nurturing” Page 15 © 2011 Marketo, Inc. Marketo Proprietary and Confidential
- 16. REACHING THE SOCIAL CUSTOMER: NEW TOOLS, NEW STRATEGIES Agenda: • What are brands doing with social media today? • What does social media mean for business? • What is the current data we have on social ROI? • How can brands drive revenue through social commerce? Michael Lazerow CEO and Chairman, Buddy Media michael@buddymedia.com ©2011 Buddy Media Inc. Proprietary and Confidential @lazerow 16
- 17. LET’S START WITH WHERE BRANDS ARE TODAY… 17
- 18. PRIORITY SOCIAL PLATFORMS FOR BRANDS ©2011 Buddy Media Inc. Proprietary and Confidential 18
- 19. WHO’S CURRENTLY RUNNING YOUR SOCIAL MEDIA EFFORTS? ©2011 Buddy Media Inc. Proprietary and Confidential 19
- 20. HOW IS SOCIAL BEING USED? ©2011 Buddy Media Inc. Proprietary and Confidential 20
- 21. ALL BRANDS KNOW THEY NEED TO HAVE A SOCIAL PRESENCE. 21
- 22. BUT, WHAT DOES IT MEAN FOR THEIR BUSINESS? 22
- 23. RAISE YOUR HAND IF… YOU HAVE SHARING FUNCTIONALITY ON YOUR SITE. 23
- 24. KEEP IT RAISED IF… YOU KNOW HOW MUCH REVENUE IS BEING DRIVEN THROUGH SHARING. 24
- 25. KEEP IT RAISED IF… YOU KNOW HOW MUCH REVENUE IS BEING DRIVEN BY PRODUCT THROUGH SHARING. 25
- 26. THE AVERAGE FACEBOOK SHARE GENERATES $2.10 IN INCREMENTAL SALES. -AGGREGATE CONVERSIONBUDDY CLIENT DATA 26
- 27. AVG CONVERSION RATE FOR A FACEBOOK SHARE WAS 10.2%. -AGGREGATE CONVERSIONBUDDY CLIENT DATA 27
- 28. THE MOST SHARING FOR INTERNET RETAILERS OCCURS ON WEDNESDAYS, FOLLOWED BY THURSDAYS. -AGGREGATE CONVERSIONBUDDY CLIENT DATA 28
- 29. 12:13PM – 1:45PM ON WEEKDAYS IS ‘MAGIC HOUR’ FOR RETAILERS. -AGGREGATE CONVERSIONBUDDY CLIENT DATA 29
- 30. 27-33 YEAR OLD WOMEN ON FACEBOOK ARE THE MOST ACTIVE SHARERS, AND DRIVE THE HIGHEST CONVERSION RATES. -AGGREGATE CONVERSIONBUDDY CLIENT DATA 30
- 31. SOCIAL COMMERCE 31
- 32. 32
- 33. No social integration! 33
- 34. THANK YOU! MICHAEL LAZEROW CEO, BUDDY MEDIA MICHAEL@BUDDYMEDIA.COM @LAZEROW 34
- 35. 3 Big Questions 1. What is social customer management? 2. What are the stages of getting your organization to social customer management? 3. What are the use cases for social customer management, for sales and marketing?
- 36. The Long Definition “Social CRM is a philosophy and a business strategy, supported by a technology platform, business rules, work flow, processes, and social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.” - Paul Greenberg, CRM at The Speed Of Light, 4th Edition ext
- 37. The Short Definition “Social CRM is strategy to make conversations with customers who bring you money and make your customers happy.”
- 38. 4 Levels Of Social Customer Engagement 2011 Metz Consulting and The Pedowitz Group
- 39. © 2011 Awareness CONFIDENTIAL
- 41. Want To Learn More? Grab a free 9-hour audio course at metz.customerhub.net
- 42. How to Participate • Submit your questions in the GotoWebinar presentation window • Follow along and share your thoughts on Twitter at #SMTlive
- 43. About the Panel Jon Miller, VP of Marketing and Co-Founder, Marketo, @JonMiller2 Jon leads strategy and execution for all aspects of Marketo's hyper-efficient demand center (powered by Marketo's solutions, of course). He explores everything from lead nurturing and social media to marketing ROI and revenue performance management in Marketo's popular blog, Modern B2B Marketing, and was named a Top 10 CMO for companies under $250 million revenue by The CMO Institute. Before co-founding Marketo, Jon held positions at Epiphany, Exchange Partners, and Gemini Consulting. Jon graduated Magna Cum Laude in Physics from Harvard College and has an MBA from the Stanford Graduate School of Business. Michael M. Lazerow, Chairman and CEO, Buddy Media, Inc., @Lazerow Michael is a serial entrepreneur who has co-founded four successful internet-based media companies. He has a passion for creating, managing and growing companies from the ground up. Michael is currently Chairman and CEO of Buddy Media, Inc., a New York-based company whose Facebook management system, the Buddy Media Platform, is used by eight out of the top ten global advertisers. Before Buddy Media, Michael founded University Wire, an Associated Press-like network of more than 700 student-run newspapers, now owned by CBS Corp, and GOLF.com, a profitable online golf media company purchased by Time Warner's Time Inc. in January 2006. Adam Metz, VP of Business Development, Metz Consulting, @themetz Adam Metz is the VP of Business Development at Metz Consulting the social concept. Metz's Social Customer Community, at http://metz.customerhub.net offers a no-cost 9-hour training course on social customer relationship management. Metz has consulted with nearly 100 companies on how to acquire, manage, monetize and retain customers from the social web. His first book, There Is No Secret Sauce, has sold or downloaded over 3000 copies, and is currently in its third printing. Metz's second book, The Social Customer, was released on 9/16/11 and has hit #1 on the Amazon marketing charts.
- 44. Thanks for Joining Us • This webinar will be available on-demand at www.SocialMediaToday.com. Stop by to learn more and share your comments. • To learn more about Marketo visit http://www.marketo.com/ • Connect with our panelists on Social Media Today using the search function:
Notas do Editor
- Marketo: XXXBrainshark: Why video & mobile matters for audiences on social channelsVideo take on a range of different types – lets look at possible flavors you may want to consider Best practices & examples
- The core philosophy of our revenue engine is that buying has changed forever, and that marketing and sales need to change as well.Not that long ago, there were few 3rd party sources of information, which meant that a buyer had to get most of their information from sales. In this world, it made perfect sense for marketing to pass all leads over to sales. But now, the explosion of readily available information means buyers get most of their information themselves and don’t want to talk to a sales person until they are much further along. 70% of the buying cycle has already taken place before buyers are willing to engage with a live sales person.With this change, marketing has the opportunity to seize the day and take a much larger share of revenue.
- Content is the key to getting registration and doing nurturing. Ann Handley - Content Rules: Anything created and uploaded to the web; i.e.: the pages of your site; the things you create as marketing (blog posts, videos, photos, webinars, podcasts, email)…. “Anything an individual or organization creates and shares to tell their story.”Whitepapers and Books/eBooks, Infographics, Videos, Webinars, Presentations, CalculatorsHere’s an example of a Success Kit bundled together…Short form
- Then – scarcity, brand, leads to salesPhase I – people put info online – but leads not ready, so nurtureNow – abduance, off website. Need social and content; and what I call ‘seed nurturing’ – next slide to explain Seed
- Let’s start by setting up the landscape of where brands are today.
- These charts come from Buddy Media and Booz and Company’s latest research “Campaigns to Capabilities: Social Media and Marketing 2011.” As you can see here, Facebook, Twitter and YouTube are the three primary social platforms for brands at the moment.
- Marketing, Digital and PR are the three departments primarily responsible for social media at the moment. It is interesting to note that sales, product development and IT do have some action in social in some of the surveyed companies.
- Primarily, social is being used for Advertising/Promotions, PR and Customer Service.