Building Sales With Social Media 06 10 2008b

Building Your Sales With Social Media Marketing

June 11, 2008

Tim Tracey

[email protected]

YouGottacall.com, LLC © 2008 www.yougottacall.com

http://www.yougottacall.com/

Change.



Change.

In business nothing stays the same.



Change.

In business nothing stays the same.

Does your marketing strategy?



What’s your biggest advertising expense?




Yellow Pages




Yellow Pages

Newspaper




Yellow Pages

Newspaper

Direct Mail




Yellow Pages

Newspaper

Direct Mail

Broadcast (TV, Radio)



Characteristics:

1. High cost per lead

Advertising options to drive sales

Yellow Pages

Newspaper

Direct Mail




Characteristics:


2. Poor metrics


Yellow Pages

Newspaper

Direct Mail




Characteristics:


2. Poor metrics

3. Low differentiation


Yellow Pages

Newspaper

Direct Mail




Characteristics:


2. Poor metrics


4. Not qualified


Yellow Pages

Newspaper

Direct Mail




Characteristics:


2. Poor metrics


4. Not qualified

5. Does not leverage your greatest asset – your satisfied customers and your referral network


Yellow Pages

Newspaper

Direct Mail




Where do your best sales leads come from?


Yellow Pages

Newspaper

Direct Mail



2. Poor metrics


4. Not qualified





Word-of-Mouth referrals


Yellow Pages

Newspaper

Direct Mail



2. Poor metrics


4. Not qualified





Yellow Pages

Newspaper

Direct Mail



2. Poor metrics


4. Not qualified




1. Less time and money to convert to sales –already have a high level of trust in you




Yellow Pages

Newspaper

Direct Mail



2. Poor metrics


4. Not qualified





2. More of them become sales - higher close rate




Yellow Pages

Newspaper

Direct Mail



2. Poor metrics


4. Not qualified





2. More of them become sales - higher close rate

3. More likely to become active referrers –pay you future dividends



So …

You’re using expensive media that is considered to be the least effective?



This is a major disconnect.

So …




This is a major disconnect.

So …




Not a good way to spend your time.



Not a good way to spend your time or your money.



Not a good way to spend your time or your money or to grow your business.



Tapping into your “Word-of-mouth”:




“Word of mouth is - even in this age of mass communications and multimillion-dollar advertising campaigns - still the most important form of human communication.”

Malcolm Gladwell, “The Tipping Point “ (2000)




“There are plenty of advertising executives who think that word-of-mouth appeals have become the only kind of persuasion that most of us respond to any more.”

Malcolm Gladwell, “The Tipping Point “ (2000)



“Word-of-mouth” is happening – they’re talking about you right now…




… and want you to join in.




“We have a new social force that rewards companies with free marketing, sales, and profits when they treat people well and produce good products.”

Seth Godin (2006)




“We have a new social force that rewards companies

with free marketing, sales, and profits

when they treat people well and produce good products.”

Seth Godin (2006)




“We have a new social force that rewards companies

with free marketing, sales, and profits

when they treat people well and produce good products.”

Seth Godin (2006)



How word-of-mouth works …

ConsumerLocal Business/ ProfessionalService

Trust




ConsumerLocal Business/ ProfessionalService

Trust

Consumer

Relatio

nship




ConsumerLocal Business/ Professional

Consumer

Recommendation





Consumer

Implied trust





Consumer

Implied trust



Tapping into “Word-of-mouth”: What can you do?




Find the people talking about you.





Pareto (80/20) Principle –






80% of your referral sales come from 20% of your referring customers, friends and neighbors.






80% of your referral sales come from 20% of your referring customers, friends and neighbors.

Find these people – they are 16 times more valuable than your non-referring customers.






80% of your referral sales come from 20% of your referring customers and friends.

Find these people – they are 16 times more valuable than your non-referring customers.



Pareto Principle - Value of GOOD REFERRER

0

2

4

6

8

10

12

14

16

18

1 2

Referrer

Val

ue








Find the people talking about you.Get their email addresses.




Find the people talking about you.Get their email addresses.Use creative ways to engage them.





Thank them.Recognize them.Ask for their advice.Include them.




Find the people talking about you.Get their email addresses.Use creative ways to engage them.Go to creative places to engage them.





Internet – newsletters, blogs, forums, local directories





Internet – newsletters, blogs, forums, local directoriesInternet – social networks

Example: Facebook



Facebook stats



Facebook stats

Independent researchCollege graduates of a private northeastern university:

Aged 25 – 30 – 80+% membershipAged 33 – 60 – 30+% growth per MONTH over 10

months.





Internet – newsletters, blogs, forums, local directoriesInternet – social networks

Example: FacebookConnect with friends, customersBuild a pageShare links and content with blog Advertise




Have creative reasons to engage them.Go to creative places to engage them.



Find the people talking about you.Get their email addresses.Use creative ways to engage them.Have creative reasons to engage them.Ask them for referrals.



Find the people talking about you.Get their email addresses.Creative ways to engage them.Creative reasons to engage them.Ask them for referrals.

Nicely.Politely.Creatively.Often.



Find the people talking about you.Get their email addresses.Creative ways to engage them.Creative reasons to engage them.Ask them for referrals.

Nicely.Politely.Creatively.Often.


Benefits of social media marketing:

1. Connect with your network of satisfied clients




2. Harness your Word-of-Mouth leads





3. Increase sales





3. Increase sales

4. Build a self-sustaining base of future business …





3. Increase sales

4. Build a self-sustaining base of future business …for a change.


Build a self-sustaining base of future business … for a change.



Build a self-sustaining base of future business … for a change.



Economy & Finance

Building Sales With Social Media 06 10 2008b