trust drives transactions: a presentweetion for the time-starved

TRUST DRIVES TRANSACTIONS:

A presentweetion for the time-starved

Internet Marketing Conference Vancouver

September 17, 2009

ERIC WEAVER

2

2:30 PM Sep 17 from PowerPoint

Excess hype, overshare,pokes, "how well do you knowme" quizzes and stalkers. Whywould I use this for biz?#annoying

3

2:30 PM Sep 17 from PowerPoint

Client ?’s: is this a fad? Do socialmktg e orts actually work? Theconvo seems so shallow. Who's gottime to manage all this? Srsly??

4

Let’s look at the business of

promoting your business.less than a minute ago - Comment - Like

5

2:32 PM Sep 17 from PowerPoint

Outbound mktg is a $1TTmachine. Each niche = afull industry. We'rerewarded for storytelling/intrusion/repetition.Unchanged in 150 yrs.

6

2:33 PM Sep 17 from TwitterBerry

Our customers, however, have changed. Maybe a lot, LOLZ.

2:34 PM Sep 17 from PowerPoint

Where'd they go? Consumers fled to social

netwks where they could connect w/like minds on

interesting subjects, free from commercialism.

82:35 PM Sep 17 from PowerPoint

For marketers, social netwkslooked like a smorgasbord ofopportune audiences.

OOH YUMMEH!

9

September 17 at 2:36pm - Comment - Like - See Wall-to-Wall

What’d we get? Same ol’ same ol’.

“Look over here! A chance to WIN!” #yawn

10

2:38 PM Sep 17 fromPowerPoint

Traditional ads insocial netwks arelike #amwaysalesmen showingup at a cocktailparty. Not theright context,kids. #fail

11

2:39 PM Sep 17 fromPowerPoint

The waningOutbound Voice:RT @TNSMediaIntelligence US adspend plunges14.2%; only onlineposts growth.

12

Four major cultural changes are killing the

outbound voice and spurring dialogue.less than a minute ago - Comment - Like

13

2:42 PM Sep 17 from Edelman Trust Barometer

CHANGE #1: trust has fallen o a cli . (RT @edelman)

14

RT @edelman: “banks, automotives, media andinsurance hit hardest in US.” Wonder abt

schools, cops, doctors (societal pillars)2:43 PM Sep 17 from from Edelman Trust Barometer

15

CHANGE #2: time starvation,micro-niche interests,endlessly-customizablemedia options, expectingfree information2:44 PM Sep 17 from PowerPoint

16

#SEARCH: people, products,info, media I care abt;#EXPRESSION via blogs,opinion sites, ratings;#SHARING what we like, orhateAbout a minute ago - Comment - Like

Generally, consumers don’tneed advertising, marketingor PR (#TimeToRethink)

2:46 PM Sep 17 from PowerPoint

17

CHANGE #3:

the new cacophony.

2:47 PM Sep 17 from culture

18

2:48 PM Sep 17 from PowerPoint

CHANGE #4: people turn to PEERS whenrisk is high, more choices to review, lesstime for research. #remarkable

19

2:48 PM Sep 17 from 2009 Edelman Trust Barometer

Most credible ppl giving me company/product info?47% believe in PEERS. 13% trust marketers.#wakeupcall #outboundvoice

20

2:49 PM Sep 17 from 2008 Edelman Trust Barometer

Trust isn’t just influential, it’s widely shared. 56% age 35-64,63% 25-34 share trust/distrust on the web.

21

2:49 PM Sep 17 from 2009Edelman Trust Barometer

Trust drives preference:91% choose to buy fromcompanies they trust,77% refuse thedistrusted. Bottom line:TRUST DRIVESTRANSACTIONS.

22

2:50 PM Sep 17 from PowerPoint

Growing revenue not abt clever, elegant, loud. Not abttools! Nor Ashton/Oprah. Not abt Social Media change.IT’S ABT PPL TRUSTING YOU.

23

2:50 PM Sep 17 from Edelman Trust Barometer

How much more would u trust a company for takingaction to increase communication and transparency?Positively impact consumers? #proof

24

So build a trust strategy. Consider where you are

distrusted. Decide where you’d like to be. Then,

steps to get there. Then execute.less than a minute ago - Comment - Like

25

2:51 PM Sep 17 from PowerPoint

MINIMIZE TRUST KILLERS: Don’t interrupt search. Befound/referred. Don’t talk abt ur value, demonstrate it.

2:51 PM Sep 17 from PowerPoint

REPRESENT! Demonstrate u know ur stu , a vision forsector/mkt, that others took a chance & benefitted,that ur ethical, easy, trustworthy.

2:52 PM Sep 17 from PowerPoint

EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU.Give customers a voice. Amplify their words. Makevalue sharing e ortless.

26

2:53 PM Sep 17 from PowerPoint

Look for and target urorganization’s trust soft-spots. Rebuild trust there.Demonstrate. Be real. Takefodder from conspiracytheorists.

27

2:52 PM Sep 17 from PowerPoint

THOUGHT STARTERS, BLOGGING: CEO media/invstrrelations; industry trends/insights; legislation impacts

28

2:53 PM Sep 17 from PowerPoint

THOUGHT STARTERS, TWITTER (here, now): crisis PR,timely insights, content alerts, community bldg, eventnotices

29

2:53 PM Sep 17 from PowerPoint

THOUGHT STARTERS, VIDEO: great for intensivelearning, how-to vids, personality pieces, companystorytelling, humor

30

2:53 PM Sep 17 from PowerPoint

THOUGHT STARTERS, AUDIO: great for distractedlearning, storytelling, conversational thought ldrship,testimonials, sensory experiences

31

2:54 PM Sep 17 from PowerPoint

THOUGHT STARTERS, WIKIS: great for event planning,product developing, crowdsourcing ideas, sharedlearnings, distributed wk-in-progress

32

2:54 PM Sep 17 from PowerPoint

THOUGHT STARTERS, WIDGETS/APPS: get your contentinto more places, allow engagement w/o leavingvenue, aggregating valuable content

33

2:54 PM Sep 17 from PowerPoint

THOUGHT STARTERS, SOCIAL VENUES: brandawareness, community/CSR discussions, loyaltyprograms, consumer feedbk/trials/testing

34

2:54 PM Sep 17 from PowerPoint

THOUGHT STARTERS, SOCIAL VENUES: brandawareness, community/CSR discussions, loyaltyprograms, consumer feedbk/trials/testing

35

2:55 PM Sep 17 from PowerPoint

BLOGGER ENGAGEMENT: set up engagementguardrails. When a post is positive, do youcompliment, agree or ignore?

2:55 PM Sep 17 from PowerPoint

Negative posts: is it a rant, a joke or satire? Are therefactual errors to correct? Do you fix a bad customerexperience?

2:55 PM Sep 17 from PowerPoint

No matter what: be transparent, including links, bepositive/strong, spellcheck, think abt publicperception, and triage accordingly.

36

2:56 PM Sep 17 from PowerPoint

CONVERSATION MONITORING: fantastic insights intoconsumer mindset, sentiment, motivation, interestareas, company/product performance

2:56 PM Sep 17 from PowerPoint

Lion’s share of convo monitoring can be automated:blogpulse, Google Blog Search, Technorati,TweetReach, Twendz/TweetFeel

2:56 PM Sep 17 from PowerPoint

Specialized reporting tools can dive into specifics onsentiment, motivation, topic trending (Radian6,Sentimine, MotiveQuest)

37

2:57 PM Sep 17 from PowerPoint

BOOMERS = propriety. Trained in formalities, don’to end, guarded means safe, not so great with “random.”Suit & tie = trust.

2:57PM Sep 17 from PowerPoint

GENS X&Y = a nity. Formalities ignored, sharingmeans finding, tech is easy, random is life. Consideryour lens. Suit & tie = distrust.

38

2:57 PM Sep 17 from PowerPoint

Trust generated, money happened: blog, FB, YouTube toconnect. Results: 2MM impressions, 2300 new accts,$4MM in new deposits. @YoungFreeAB

39

2:58 PM Sep 17 from PowerPoint

FINAL THOUGHTS: SocMed is SO NOT a fad. Googlegave us search. SocMed gave us sharing, connecting.Won’t get taken away.

2:58 PM Sep 17 from PowerPoint

Social Media reflects that we are time-starvedcreatures trying to get our day back, rather than beingshallow. Sharing = finding lk minds.

2:58 PM Sep 17 from PowerPoint

“One more thing for marketers to do”? More likeengaging your market where they prefer to be. How’dthat last trade show budget work out?

40

2:59 PM Sep 17 from PowerPoint

RECAP: Rethink your entire marketing approach from aprospective of trust and with a wider lens.

2:59 PM Sep 17 from PowerPoint

Build trust by being found, demonstrating yourknowledge, your vision and your trustworthiness.

2:59 PM Sep 17 from PowerPoint

Finally, use social marketing to leverage the EXISTINGTRUST already established between peers, rather thanbuying new trust.

THANK YOU

slides: slideshare.net/weavepresentweetion: @PeopleBuyTrustme: @weavecompany: tribalddb.ca