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source | Nielsen study (August 2010)
PEMCO Insurance: V.P. and CMO
WOMMA: Board of Directors
- - - - - - - - - - - Follow Rod on
Twitter: @NW_Mktg_Guy
Rod Brooks
source | Nielsen study (August 2010)
Insurance For $1000
source | Nielsen study (August 2010)
:
In the 1969
movie starring
Woody Allan
which chain
gang prisoner
complained of
being treated
inhumanely? -
Insurance For $1000
Twitter: @NW_Mktg_Guy
Twitter Hashtag:
#PCEA13
source | Nielsen study (August 2010)
• Integrity
• Responsibility
• Courage
Know what’s important!
• Customer centric
• Relationship led
• Values based
• Challenger brand
• Hyper-local
• Integrity
• Responsibility
• Courage
Challenges: Both old and new
• Highly regulated industry
• Product perceived as a commodity
• Insurance is an unsought product
Industry 1
Environment
2
• Industry ad spending at astronomically high levels
• Heavy influence by peers, friends, and strangers online
• New & unfamiliar channels sustain brand conversations
• Integrity
• Responsibility
• Courage
Our Vision
Our customers say: “PEMCO gets it! They’re great to do business with, they
share my Northwest values, and I would
definitely recommend them.”
source | Nielsen study (August 2010)
Social
Media
Social Engagement
Social Business
What comes to mind?
Hint:
One is noun.
One is verb.
One is an adjective.
Shows
Action
Media Engagement Business
source | Nielsen study (August 2010)
Social Media Voice of the Company
Top-Down Control
Company-Generated Messages
Infrequently Updated
Socially Engaged Voice of the Customer
Bottom-Up Messaging
Consumer-Generated Messages
Continuously Updated
Social Media Voice of the Company
Top-Down Control
Company-Generated Messages
Infrequently Updated
Socially Engaged Voice of the Customer
Bottom-Up Messaging
Consumer-Generated Messages
Continuously Updated
Social Media Voice of the Company
Top-Down Control
Company-Generated Messages
Infrequently Updated
Socially Engaged Voice of the Customer
Bottom-Up Messaging
Consumer-Generated Messages
Continuously Updated
Social Media Voice of the Company
Top-Down Control
Company-Generated Messages
Infrequently Updated
Socially Engaged Voice of the Customer
Bottom-Up Messaging
Consumer-Generated Messages
Continuously Updated
Word of mouth is the
most powerful form of
marketing there is!
• Integrity
• Responsibility
• Courage
Most Powerful • Builds brands
• Drives Sales
• Sparks Conversations
• Integrity
• Responsibility
• Courage
Most Effective • More persuasive
• More targeted
• More relevant
54% of US adults identified
old-fashioned Word of Mouth
as most important influencer
of purchase decisions.
source | “Digital Marketer Report, Experian – 2011
What percentage of
word of mouth
happens online?
US consumers have at least one
daily brand-related discussion…
face-to-face – 93%
voice-to-voice – 45%
Online – 22%
source | Keller Fay & Yahoo! study (June 2010)
23% of people’s time
spent on the Internet is on
Social Media websites
source | Nielsen study (August 2010)
source | ComScore Data Gem - 2011)
• Integrity
• Responsibility
• Courage
source | Keller Fay “The Face-to-Face Book”(2012)
• Integrity
• Responsibility
• Courage
Are your marketing pants on fire?
?% of consumers believe
companies are untruthful in
their advertising.
source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)
• Integrity
• Responsibility
• Courage
Are your marketing pants on fire?
76% of consumers believe
companies are untruthful in
their advertising.
source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)
• Integrity
• Responsibility
• Courage
Are your marketing pants on fire?
source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)
Advertised In Reality
• Integrity
• Responsibility
• Courage
Are your marketing pants on fire?
source | Bold Mouth’s “Perceptions, Practices, and Ethics” report (2006)
Advertised In Reality
• Integrity
• Responsibility
• Courage
Trust lives in the community.
?% of global
consumers say they
trust recommendations
from other consumers
source | Nielsen’s “Trust in Advertising” Report (2007)
• Integrity
• Responsibility
• Courage
Trust lives in the community.
78% of global
consumers say they
trust recommendations
from other consumers
source | Nielsen’s “Trust in Advertising” Report (2007)
• Integrity
• Responsibility
• Courage
Northwest values
• Integrity
• Responsibility
• Courage
Moving from money to mouth
source | PEMCO Mutual Insurance Co, “Market Metrics – 2010”
Reason 2001 2002 2005 2007 2008 2009 2010
Price
60%
62%
50%
50%
36%
40%
33%
Referral and/or
Recommend
10%
12%
17%
20%
22%
22%
32%
• Integrity
• Responsibility
• Courage
Northwest values
• Integrity
• Responsibility
• Courage
The people who
“link, like, and list”
us are among a
brands most valuable
marketing assets.
• Integrity
• Responsibility
• Courage
The people who
“link, like, and list”
us are among a
brands most valuable
marketing assets.
65% are on Twitter
54% are on Facebook
29% use YouTube
33% maintain a blog
2010 – Fortune 100 Companies…
source | Burson-Marsteller & Digital Media Study (February 2010)
2010 – Fortune 100 Companies…
source | Burson-Marsteller & Digital Media Study (February 2010)
77% are on Twitter
61% are on Facebook
57% use YouTube
36% maintain a blog
source | “Contagious – Why Things Catch On” by Jonah Berger, 2013)
77% of YouTube videos
have fewer than 500 views
Only 1/3 of 1% get more
than 1 million
84% of Fortune 100
businesses with a Facebook
page are actively using it
source | Burson-Marsteller “Global Social Media Check-Up” report (February 2011)
(NOTE: Up from 59% in 2010)
Fortune 100 firms are
tweeting, on average,
25 to 30 times per week
source | Burson-Marsteller “Global Social Media Check-Up” report (February 2010)
“… companies that are both
deeply and widely engaged in
social media surpass their peers in
terms of both revenue and profit performance by a significant
difference.”
Word of mouth is the
most powerful form of
social media there is!
• Integrity
• Responsibility
• Courage
Product – Service - Experience
• Integrity
• Responsibility
• Courage Awareness to Advocacy
Why Recs Matter
• Integrity
• Responsibility
• Courage When “earned” they drive
preference, purchase & referral.
Why Recs Matter
• Integrity
• Responsibility
• Courage
BIG HAIRY AUDACIOUS GOAL
• Integrity
• Responsibility
• Courage
REFERRAL BASED GROWTH
• Integrity
• Responsibility
• Courage
Five Principals: Word of Mouth Marketing
1. Word of Mouth Marketing . . .
Honest and
authentic. Brands to consumers and consumers to consumers.
. . . is Credible
2. Word of Mouth Marketing . . .
Listen,
participate,
respond and
engage in conversations
. . . is Social
3. Word of Mouth Marketing . . .
Transparent
& trustworthy Protects privacy among all
parties.
. . . is Respectful
4. Word of Mouth Marketing . . .
Defined,
monitored, & evaluated
. . . is Measurable
5. Word of Mouth Marketing . . .
Easy to share. Over and over.
. . . is Repeatable
• Integrity
• Responsibility
• Courage
Four decisions
every marketer,
every brand
. . . all of us,
can make.
1. Decide to listen
2. Decide to be affected
3. Decide to respond
4. Decide to be engaged
Listening
is a company’s
greatest
opportunity.
The typical American
mentions specific brand
names 60 times per week in
offline & online conversations.
source | Keller Fay “ Talk Track” report (2010)
source | Keller Fay “ Talk Track” report (2009)
XX% of WOM conversations
are mostly positive
XX% of WOM conversations
are mostly negative
source | Keller Fay “ Talk Track” report (2009)
68% of WOM conversations
are mostly positive
8% of WOM conversations
are mostly negative
Use the
available
search
functions
• Integrity
• Responsibility
• Courage
source | http://www.flickr.com/photos/boudster/3716337113/
Public Displays of Affection
source | http://www.flickr.com/photos/
Public Displays of Aggravation
22% of US consumers have
at least one brand-related
conversation online every
day.
Public Displays of Affection
22% of US consumers have
at least one brand-related
conversation online every
day.
Public Displays of Aggravation
Customer
reviews and
stories affect
operations.
• Start every meeting with a
customer story!
Create a
place to
welcome
feedback
Create a
place to
welcome
feedback
Respond with timely
appreciation, empathy,
sincerity and authenticity.
“When you hit a wrong
note, it’s the next
note that makes it
good or bad.”
source | Slide used with permission of John Moore, BrandAutopsy
Two great ways to respond
to even the most challenging
assertions.
Thank You
and
We’re Sorry
“Show me
that you
know me
in ways
that others
don’t”
Engage your audience
Feb 22nd - 3:18 to
Feb 23rd - 4:05 p.m.
24 hours
47 minutes
Sorry!
Use humor
that gives,
not takes!
Use humor
that gives,
not takes!
• Integrity
• Responsibility
• Courage
Social engagement mantra
“PEMCO’s success
depends on the
positive opinion of
people like me.
They listen,
participate,
encourage and
enable me to
share with others.”
Listen to your customers
• Integrity
• Responsibility
• Courage
Remember the basics…
Know your
talkers… Give them
something to
talk about… Make it
easy to share.
• Integrity
• Responsibility
• Courage
And remember…
• Integrity
• Responsibility
• Courage
Thank You – Lets Connect
Twitter:
@NW_Mktg_Guy
Facebook:
Northwest
Marketing Guy
Linked In:
Rod Brooks
Blog:
www.rodbrooks.com