Welcome Keynote Social Media - Impact to businesses of all sizes, all industries

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October 5 – 10, 2009A global, all online eventThe world’s best social media tools, demoed and discussed in one week

… the best professional tools on the planet



Social Media

Impact to businessesall sizes, all industries



The model of influence changed in its foundation

Lead flow as an indicator how customers get engaged.Leads typically represented the start of an “Educated Purchase Decision” – and the begin of a sales process – not any more!The education process changed, the lead flow dried out - businesses have to change!

1960 1970 1980 1990 2000 20100

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Lead Flow over Time

News paper

+ Bill boards

+ Tradeshows

+ Internet reg. pages

+ TV commercials

????



Buying dynamics dictate sales processes

The old sales process can be collapsed to the last three steps in the buying process



This is not applicable in our business

This may work in B2C but not in B2BThis is good for B2B but not B2COur industry is not readyMy customers are not there yetOur competitors don’t do anything eitherMy customer never asked my about social media



Social media is where customers meet customers for

experience, skill development, failure prevention…



Power of repeat customers and word of mouth

Zappos is a great example for the rapid evolution of word of mouth – accelerated through the InternetIt’s no longer one tells one other – one tells a million

Zappos Inc.



Social Media The #1 Recommendation Engine

High-Tech, Agricultural Industry, Financial Services, Health Care… no specific “best” on any industry segment

B2B because no decision maker would spend $5 Million without verifying with peers, other experts and everybody they trust

B2C because purchase is no longer driven by advertising but through peer recommendation, peer pressure, friends and other influences

Age group ranges from 16 to 60

80% of purchase decisions are based on recommendations

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Social Media For Business

#1 ObjectiveBe part of the “Recommendation chain”

#1 ChangeCreating a better customer experience

#1 ImplicationShifting gear in support, product marketing, sales, and marketing

#1 RealizationSocial media is a cross functional business initiative – not a marketing campaign

#1 GoalBusiness growth through advocacy



My company is not ready for that

We have no budgetWe have no resourcesWe have no planIn that economy we have no time for thisThis should be done by our ad agency



STOP !!!!

Your agency cannot tweet and chat with your customers without the involvement of sales

Your agency cannot discuss topics in a forum without the involvement of your support team

Your agency cannot have a product feature dialog without the participation of your product managers

Your agency cannot explore trends and demands without the inclusion of your procurement department



It’s all about people

Business 1960 – 2010Mass marketingLow touch sales modelOutsourced support centersSEO, hits and numbers

The new enterprise 2010 –Social MarketingRelationship based sellingCustomer integrated supportConversations are the new KPIs(the worst thing to be talked about is not to be talked about)



Your customer took a new route - again

There are numerous examples from past history, demonstrating what happens if customers take new routes.Many companies however just don’t recognize when that is happening to them.

“No opportunity is lost – someone will take it”



A shoe dealer get acquired for $800 Million

Tony Hsieh (CEO) brought Zappos from $1.6Million in 2001 close to$ 1 Bn in revenue by 2008 – It’s NOT an e-commerce success storybut a customer experience / social media success story.



I’m not ready for that

None of our executives have a clueOur culture is so oldWe are so much under pressureI can’t do anything



Your personal social media check list

1) Take your top 50 business contacts and look them up in the relevant places and spaces.

2) Create an account on networks and sites where you find your customers, prospects, partners and influencer.

3) “Visit” them every other day, read the last posts, comment, care about them.

4) LISTEN to what’s on top of their mind – think beyond your product sale.

5) Be approachable, let your connections know how to connect with you.

6) Share your thoughts, interests – get social.7) Take one of the reporting tools and begin to measure sentiments

around your brand/product.8) Tell your colleagues what you learn from your customers and

prospects – encourage them to also listen and learn.9) Help your customers and prospects with helpful links, introduce

them to existing customers and experts of your products and services.

10) Stay focused on the people who are RELEVANT to you – otherwise you get distracted and spend 24 hours per day browsing around.

11) DO NOT waste your time with growing your followers, video editing, chatting with everybody who invites you… Follow your own business objectives



The Overall Process

Understand what your customers are up toUnderstand your strength, weakness, the opportunities and the threatsDevelop a sound strategy based on the findingsCreate a plan extracted from your strategyEnsure a corresponding team developmentFocus on the execution, report on progress and success factors



Welcome to Social Media Tools Week

Learn as much as you canListen to strategists, consultants and practitioner from around the worldSee the tools that are especially geared towards business use. Thursday is social media reporting day.

Join the Social Media Academy group in LinkedIn

Consider joining the Leadership Class where you learn step by step everything you need from a social media business assessment to strategy execution.



Thank You

© 2009 Social Media Academy. All rights reserved. This content is protected under the copyright law of the United States. It is prohibited to make full or partial copies or extractions of this documentation without the explicit written approval from the Social Media Academy.

All materials contained herein are the property of the Social Media Academy and its faculty and may only be used, by an enrolled student for his or her own educational benefit.

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