Facebook: is it worth it?
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Laying out the 'why' and 'how' of social media success, especiallly Facebook strategy and tactics. These slides are visual support for lengthy remarks, so get in touch if you have questions! Thanks!
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Facebook: is it worth it?
- 1. Facebook Is it worth it?
- 2. Here we go… 1. Attention and trust 2. Word of mouth 3. Facebook strategies and tactics 4. Your questions!
- 4. Trust
- 5. Credibility
- 6. Influence
- 8. Word of Mouth 1. WOM: sharing something interesting and valuable 2. WOMM: Business action that earns a recommendation In short, be remarkable.
- 9. WOMM: what’s it worth? • Drives average 13% sales • Amplifies paid media by 15% • Impacts immediately • Offline produces 2/3 impact; online 1/3 • Valued at 5+ paid impressions • MAKES YOU BETTER!
- 10. WOMM readiness 1. Listen 2. Be affected by what you hear 3. Respond to what has affected you 4. Engage, equip and empower
- 11. WOM triggers How can you help people be awesome? • Help me help others • Let me associate my name with yours • Give me something I can give away Fulfill my need to belong
- 12. WOMM activations Advocates and Ambassadors
- 13. “Influencers”
- 14. millennials
- 15. You know this stuff, right? • Multi-platform network with Groups and Pages • Apps including Messenger and Instagram • Advertising using behavioral targeting and an Audience Network
- 16. “Now, witness the fire power…” 1.66 billion mobile users, including about 80 percent of US adults who spend an average 6 hours/week on the platform
- 17. “Kids don’t use Facebook”
- 18. “Not relevant to our market” Facebook: 48 clicks at $1.31 per click LinkedIn: 17 clicks at $5.50 per click
- 19. Obstacles!
- 20. Do you have? 1. Products/services that deliver 2. Excellent customer service 3. Culture and capacity 4. Budget for advertising 5. A website that converts leads
- 22. Strategy matters You’re paying for attention! What are you going to do with it?
- 23. Strategy matters • You’re paying for attention! – Survey data – Organic reach (volume problem, sovle with ranking) – Reach via employees, customers and partners!
- 24. What’s working now Do customers need help making a purchase? Do customers want to share their purchase? Can you generate a return on paid reach?
- 25. About those ads… 1. Conversion happens outside Facebook 2. Your data makes a difference 3. It’s DIY-simple now
- 26. Measurement! 1. Online metrics =/= ad effectiveness 2. Indirect measures matter 3. Direct measures matter more
- 27. Megabus.com
- 28. Calvin Community
- 29. 1. People most want to connect with peers 2. Give people reasons and they’ll tell a story 3. Facebook can help get this done Summary
- 30. Facebook: Yes, it’s probably worth it (and Instagram, too)
Hinweis der Redaktion
- Trends: the decline and the opportunity… Guiding philosophy and context What’s working (a few examples) Keeping it short!
- How are you FEELING about what’s ahead? Optimistic about your business? Do you feel GOOD about the INTERNET? Connecting vs. dividing Journalism vs. fake news Sharing vs. detoxing CONSIDER: markets are conversations (Cluetrain Manifesto) your marketing should tell stories people want experiences -- DO, FEEL and SHARE
- SKEPTICISM! Edelman Trust Barometer -- decade of tracking says most do not trust institutions to do what is right. 2017 trends continue, including decline in business trust… VITAL to trust is: Treat employees well Deliver quality product/service Listen to customers SELF REFERENTIAL… Google and Facebook are PRIMARY sources Trusted channels descending from news, peers, employees, internet to ads. Note: employees, customers and media are important to trust 2016 data shows a 20 point trust gap between ‘informed public’ and ‘mass populations’ … “in the U.S., where 70 percent of the elite population express trust in business in contrast to 51 percent of the general population, a 19-point difference. This skepticism is clearly manifested in the perception of specific industries, in particular the financial services sector where there is a gap of more than 20 points”
- ‘a person like me’ EDELMAN 2016: “Peer voices today are more powerful than the opinion of traditional authority figures. Respondents say that they find “a person like yourself” as credible as… academic expert (64 percent) CEOs (49 percent) NGO representatives (48 percent) Board of Directors (44 percent) Government officials (35 percent).”
- What is the nature of influence? Not authority, per se (“where things get weird” – Paul Adams) Informing via search engines (71 percent), then TV (69 percent) and, close behind that, social media (67 percent). We actively recommend companies based on trust (59 percent), and rely on the opinions of peers when making decisions about brands (75 percent). 20 point gap between ‘informed’ and ‘masses’ ^^^Edelman A new pyramid of influence, where the broader population has more influence than those with authority, creating a real challenge for authority who need to find new ways of engaging and influencing opinions. Note: employees, customers and media are important to trust and in the strongest position to influence HAVE I TOLD YOU TO USE FACEBOOK YET?
- Contagious: tactics to drive what’s catching (Social Currency, Triggers, Emotion, Public, Practical Value and Stories) Influence: lays out principles (reciprocity, scarcity, liking, authority, social proof, and commitment/consistency) Face to Face Book: most conversations still take place offline, primarily face to face.
- Markets are conversations: power in listening to (and encouraging) the stories of the employees and customers! What’s worth sharing? It can be (and often is) the little things… EX: Chik fil A drivethrough ordering for parents; latest video game at the kids’ dentist; power outlets on a bus
- WOMMA ROI study (2014) Measured… Sales figure compares to 25% paid marketing Ads still get people talking (trending down 10 points in 10 years) Immediacy: 90% of impact in first two weeks Online number trending up -- 10 point in 10 years Impact varies by category (impression math up to 200) ALL NUMBERS SWING WAY UP FOR HIGHLY CONSIDERED PURCHASES What can you learn from your best customers?
- Deciding to BE REMARKABLE – focus on what matters – find the passion points 1. WHO ARE YOUR FANS? Chicago wine story – 60%+ sales from 1 in-store customer 2. HUG YOUR HATERS? Fix the problems (publicly!) Baer: advocacy impact of answering a customer compliant + “customer service as the new marketing” 3 Es… (vs. 4 Ps) – authentic, SUSTAINING PROGRAM, not a campaign Engage – connect with customers Equip – reasons/’permission’ to talk Empower – make it easy
- Who influences your brand? Are you friends with them? http://www.slideshare.net/padday/the-real-life-social-network-v2 what people most care about is fulfilling our need to belong – to be accepted and connected. — how can you make people look awesome? ego (association) action (check-in, event, etc.) personality (creative!) free stuff wins (sharing contest)
- STRATEGY FOR sustained STORYTELLING! MARKETING GAP: 64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. However, only 6% say they have mastered it. (AMA/WOMMA 2014) A lot this looks like things we already do… but DATA and insights to create Remarkable events, content, etc. Work is in the hands of… Advocates – native… visible? latent? Influencers – distributed? Ambassadors – official role! -- “a type of influencer” (next to advocate, professional, celebrity, etc.) BMW motorcycle example – German engineer (ambassador) in your garage with your friends, NOW SIX YEARS OF SALES RECORDS
- Note: "INFLUENCER marketing” ignores a few truths… Focused online, ignoring ‘dark social’ and offline connection — integration! Intrinsic motivations and multifaceted identity (teacher example) — how can you make people look smart/good/awesome? <Friends image?> Customers have more credibility
- 18-34… Cat as millennial spirit animal: SKEPICAL and SHARED; independent and social Purina: Almost half millennials surveyed age range (18 to 34) say they own cats, and many believe their cat is similar to themselves. WOM larger part of purchase decisions (five people versus three people for Boomers) prefer friends (59%), spouses (52%), parents (51%) and strangers (33%) to experts Authenticity is key - Ads don’t build trust (they say) PEER VOICE IS A MUST Quest for remarkable EXPERIENCES – MasterCard says buying is shifting from things to experience? http://adage.com/article/digitalnext/consumers-experiences-things/299994/ EXPERIENCE = DO, FEEL and SHARE
- CONNECTING everyone to everything everywhere!
- Impacts… Media – half of us get our news there Social and emotional health – there are quantifiable effects for users Politics – lots of examples outside the US, too Reach – 177 million adults engaged in Q3 Attention – women spend 6.5 hours/week or 25% of media time (Nielsen) “EVERYTHING, EVERYWHERE by EVERYBODY”
- Facebook LEADS with teens “Not relevant to our market” http://www.hanser.com/wp-content/uploads/2016/05/2016-Iowa-Social-Media-Report.pdf
- “Not relevant to our market” http://www.hanser.com/wp-content/uploads/2016/05/2016-Iowa-Social-Media-Report.pdf Reach beyond FB + rich demographic and behavioral data
- Research, including OUR OWN in IOWA says… http://www.hanser.com/wp-content/uploads/2016/05/2016-Iowa-Social-Media-Report.pdf Time/budget/expertise Audience Reach Return
- ‘social business’ – monitor, engage, publish, measure
- Importance of strategy in driving success… Survey data: http://www.hanser.com/wp-content/uploads/2016/05/2016-Iowa-Social-Media-Report.pdf Organic reach (volume problem)
- Research shows stronger results w/ strategy… Audit, Define and Execute Value to Customer Service and Marketing... Research/ - TESTING messages (ad units and targeting) Development/ - REFINING product/service + BUILDING/DEFENDING reputation
- Avoid PAYING by EARNING REACH via employees, customers and partners! Give these trusted voices your ‘WHY’ content – values, personality
- Employees helping Customers sharing Sales funnel tuned to convert on the conversation EFFECTIVE reach = network effects + paid support
- Facebook Pixel + Google Analytics = visibility Custom audiences are powerful Power Editor less used with Business Manager and Page improvements Ads (behavioral, networked) = based on friends’ interests + point of interest/sale – WE CAN BE VERY SPECIFIC
- Facebook says you’re doing it wrong — engagement metrics (fans, likes, shares) =/= ad effectiveness: http://www.journalofadvertisingresearch.com/content/56/2/126 Indirect/offline — NPS, competitive set, offline, etc Direct/Online (close to the behavior) — referral (organic vs. paid), branded search, conversions ([not provided] problem)
- Have you ridden? Category creation in 2006 – midwest firm for chicago launch City to city Fares from $1 New fleet (double decker with seatbelts) Then, wifi and power outlets Unbelievable? “THE MEGABUS EFFECT” – NEWSWEEK Beyond building out the footprint, how to maintain momentum with very modest budget? Activate customer stories, especially online
- Healthcare risks… Authentic voices Organic reach Amplification Stay tuned…
- LITERALLY, check out training and education for businesses Facebook provides.
- CTA: Hanser.com blog posts on building trust, social media, WOM… strategy and tactics! WILL POST recap of this session with links, too… MORE ON VALUE: TESTING messages and ad units and targeting. REFINING product/service. BUILDING/DEFENDING reputation.