Show Me the Money!

Dr Paul Marsden@marsattacks www.viralculture.com

Editor | Social Commerce TodayAuthor | Social Commerce HandbookConsultant | Certified NPS Associate

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10 Proven Ways to Drive Sales with Social Media

Hello from a social media sceptic...

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Hello from a social media sceptic...

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screenshot_1468

Hello from a social media sceptic...

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Hello from a social media sceptic...

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Hello from a social media sceptic...

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Hello from a social media sceptic...

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Hello from a social media sceptic...

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A different direction...

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No Cats

No Harlem Shakes

No Brokers/RMs Harmed

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DeadPresidents

Hypodermic Needles

Shoe Boxes Zombies

Let’s start with a quick intelligence test...

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Ben Tim

Let’s start with a quick intelligence test...

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Ben Tim

Here’s Ben. Ben is looking

for his bricks. He opens the

boxes and to his surprise he

finds the bricks are in the

wash powder box!

Which box will Tim open to play with the bricks?

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Ben Tim

Now here’s Tim, Ben’s brother. Tim finds Ben’s boxes and want’s to play with bricks. Which box does he open first?

Which box will Tim open first to play with bricks?

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Ben TimWe know that Tim does not know

that the bricks are in the wash

powder box, so we correctly

guess he will look in the bricks

box first...

This requires “social intelligence” our ability to put ourselves in

somebody elses shoes and see the world from their perspective.

The real value of social media is that it can boost our social intelligence

Psychologists believe that without social intelligence, we would not be conscious; we’d be ‘zombies’

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The Ben/Tim test is a real

test of social intelligence

Under 5’s fail the test, as do those suffering from autism

Psychologists believe social intelligence underpins human consciousness; without it we’d be zombies

Enough of the psychology already; the thing to know is that social media boosts social intelligence

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“A wise man learns from the experience of others, a fool by his own”

Ψ Social Intelligence: Ability to understand and learn from each other and profit from social situations

Q: How can we use this insight to drive sales with social media? A: By helping people use their social intelligence

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The secret to driving sales with

social media is to use it to help

people shop smarter with their

social intelligence

Helping people use their social intelligence

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Ameriprise Financial helps

customers and prospects use

their social intelligence with a

LinkedIn powered service to help

them find a financial advisor

Helping people use their social intelligence

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Finnish insurer “If” helps people

use their social intelligence with

social media by allowing

prospects to contact existing

customers to find out about them

Helping people use their social intelligence

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Helping people use their social intelligence

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Amazon, with it’s new Social Q&A

service does the same; helping

people shop smart with social

intelligence by getting product

feedback from product owners

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10 Proven Ways to Drive Sales with Social Media*

* Online media that supports social interaction and user contributions

1. Put stars everywhere...

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Helping people

shop with social

intelligence with

ratings and

reviews can

boost sales by 10%

1. Put stars everywhere...

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Helping people

shop with social

intelligence with

ratings and

reviews can

boost sales by 10%

Remember social media is

‘earned media’; it’s not

what you say about

yourself, it’s what others

say about you

1. Put stars everywhere...

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2. Own a star system...

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Consider curating ratings

and reviews; sell your own

services and make affiliate

commissions on those of

your competitors

1. Put stars everywhere...

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3. Be a star system...

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Enterprise uses customer

ratings to bonus staff and

decide on promotions

4. Take an experiential bite out of Apple...

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...with services worth talking about

Apple ‘gets’ social media as

earned media; its social media

strategy is simple - deliver

‘insanely great’ experiences

worth talking about

4. Take a bite out of Apple... ‘PXM’

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Promoter Experience Management

$2446

$1927

Total Promoter ValueSales Value

Referral Value

$4373

4. Take a bite out of Apple... ‘PXM’

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Promoter Experience Management

4. Take a bite out of Apple... ‘PXM’

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Promoter Experience Management

€ € € € €€ € € € €

€ € € € €€ € € € €€

€€ €€

€ €€€

€

€ €€

AngelsAngel CandidatesDetainees

MissionariesAgnosticsInsurgents

Propensity to Recommend

Clien

t Valu

e

5. Make everything shareable

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‘Owned’ Media

‘Earned’ Social MediaHere’s a no-brainer; help people

choose you with their social

intelligence by using social media

plugins to promote sharing...

6. Host a hub

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Host a specialist social

media hub to promote social

intelligence through

knowledge sharing

7. Reward referrals

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$31,500 $486,090

Kumar, Petersen, and Leone. "How Valuable Is Word of Mouth? ." Harvard Business Review (2007)

Use social media to

help people shop

smarter with their

social intelligence by

rewarding referrals

8. Realign marketing... with reasons-to-recommend

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40% of your Fans Haven’t Recommended you...

By re-aligning your marketing

with the reasons people

recommend you - you’ll give

them the conversational

ammunition to help them

recommend you more

8. Realign marketing... with reasons-to-recommend

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40% of your Promoters Haven’t Recommended

Wendell Wilkie (R)Franklin D Roosevelt (D)

Giving existing fans

conversational currency to

influence their friends is how

media influence works

9. Tango with Tuangou

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Use social media to help

people shop smarter with

social intelligence by

enabling them to club

together and get bulk

discounts

9. Tango with Tuangou

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9. Tango with Tuangou

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9. Tango with Tuangou

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10. Don’t tell stories, Be the story

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Finally, and most critically, if

you want to drive sales with

social media, you need to

innovate with services worth

talking about...

10. Don’t tell stories, be the story

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EXPERIENCE > EXPECTATION

The amount of social media

content you earn is directly

driven by the difference

between people’s

expecations and experiences

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1. Help People Use their Social Intelligence

2. Help People Make Recommendations

3. Help Deliver Services Worth Recommending

SUMMARY: 3 CORE PRINCIPLES

In other words, the simple

secret to driving sales with

social media is to deploy

social media as a service

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3 Core Insights for Unlocking Sales with Social Media

1. Help People Use their Social Intelligence2. Help People Make Recommendations3. Help Deliver Services Worth Recommending

Social-as-a-Service

“Our social strategy is simple; it’s

happy clients talking”

Thank you!

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SUMMARY: 10 WAYS TO DRIVE SALES WITH SOCIAL

1. Put stars everywhere2. Own a star system3. Be a star system4. Take a bite out of Apple5. Make everything sharable

6. Host a hub7. Reward referrals8. Realign marketing9. Tango with Tuangou10. Don’t tell Stories, Be the Story

NoCats!

@marsattacks www.viralculture.com +44 777 95 77248