highly recommended: harnessing wom and social media to build your brand and drive business

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Highly Recommended Harnessing WOM & Social Media to Build Your Brand and Drive Business PAUL M. RAND President/CEO of Zócalo Group @paulmrand Coming Soon! September, 2013

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Presented by Paul Rand, President/CEO, Zocalo Group at the 2013 Racom IMC Roundtable. More info on this event at cadmef.org.

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Page 1: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Highly RecommendedHarnessing WOM & Social Media to Build Your Brand and Drive Business

PAUL M. RANDPresident/CEO of Zócalo Group@paulmrand

Coming Soon!September, 2013

Page 2: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

1Develop a clear and purposeful

story of how you want people to

recommend you

2 Live your brand

3 Be human, transparent, and

live up to mistakes quickly

4 Stay engaging and interesting

5 Regularly evaluate and evolve –

but stay true to your core

Live a recommendable life

Page 3: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

SocialBusiness

HighlyRecommended

Business

Page 4: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Stew Leonard’s and the30 minute recommendation

Page 5: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

What Stew gets right…

� He makes the shopping experience

pleasant and fun

� His employees are in on the game

� His stores have personality and

celebrate local produce and the

seasons

� He’s committed to the community with

regular outreach services and a variety of holiday events.

Page 6: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Why Angie and her listare worth $650 million

Page 7: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

“Marketing is dead,” says Saatchi & Saatchi CEO. The chief executive of one of the world’s largest marketing groups has today declared that marketing and strategy are dead.

Marketers are moving from accumulationto advocacy and engagement

Page 8: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Fixing what advertisinghas broken

Page 9: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Attention

Interest

Desire

Action

A whole new model for a whole new world…

A. I. D. A.McKinsey & Co.’s

Consumer Decision Journey

Page 10: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Duxler Tire and theloyalty loop

Page 11: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Moving Beyond NPS…

� Did you recommend?

� Where, how and why did you

recommend?

� Where those recommendations from

someone of influence in the category?

� How did others recommend?

� How do these recommendations

compare to competitors and the

industry?

� Did those recommendations make an

impact? If so, where and how?

Page 12: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

The power of positive recommendations

Page 13: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Why people recommend…

First to Know & First to TellSelf-validation, letting others know that you are an “early elite product tester”

Favor BankingTrading currency, or sharing with others who share back with you

Credibility Rub-OffWhen a brand has a particularly good reputation, it can be recommended even before it is experienced

ProjectionRecommending something to project a desired image of oneself onto others

Genuine Brand LoveBrand fans, generally 100% sincere

Page 14: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Some recommendations are more valuable than others

Page 15: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

15Proprietary & Confidential © 2012 Zócalo Group, LLC

Think of influencers as an ecosystem

Brand Ecosystem

Industry Eminents

Brand FansDetermined

Detractors

Peer Influencers

Page 16: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Understand where andhow your brand is talked about and recommended

Page 17: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

17

Formalize a sharable story to reflect how youwant your brand talked about and recommended

Describes how brand addresses market need

Describes how brand addresses market need

Describes how brand leads its industry

Describes how brand leads its industry

Defines market demand/

customer need

Defines market demand/

customer need

Elaborates on market

expectations

Elaborates on market

expectations

Defines how brand is

positioned to succeed

Defines how brand is

positioned to succeed

Goal & Vision

Proof Points and Facts

Proof Points and Facts

Proof Points and Facts

Proof Points and Facts

Proof Points and Facts

Page 18: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Discover whose recommendations influence your brand’s purchase decisions

Page 19: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Create compelling content and experiences that engage

Page 20: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

90When engaging with people across your social networks:

Follow the 90 / 10 Rule

90%of your time should be spent: informing them,

entertaining them, educating them, sharing with them,

asking for their input, and listening.

10% of your time should be spent marketing to them.

Page 21: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Protect your brand by identifying and neutralizing threats

Page 22: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

The four factors empowering badonline behavior:

� No guilt

� The mob

� Relative anonymity

� No accountability

Page 23: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Customer service that gets you recommended

Page 24: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Seven strategies for success:

� Provide as many opportunities for feedback as possible

� Monitor all feedback avenues regularly

� Respond in a timely manner

� Respond with an open mind

� Make the appropriate apologies and explanations

� Solve the problem promptly

� Show the consumer that you’ve solved the problem promptly

Listen, and act on, what consumers are telling you

Page 25: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Become the most recommended place to work

Page 26: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Five ways social

media has changed

HR forever:

� Finding the Employee’s Voice

� True Transparency

� Recruiting

� Retention

� Organizational Branding

Page 27: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Creating products and offerings your customerstell you they will buy

Page 28: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

The benefits ofco-creation…

� Frequent customer engagement

� Fresh ideas

� Customer loyalty

� WOM momentum

Page 29: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Built by Recommendation

OmniClean

Page 30: Highly Recommended: Harnessing WOM and Social Media to Build Your Brand and Drive Business

Thank you!PAUL M. RANDPresident/CEO of Zócalo Group@paulmrand

Coming Soon!September, 2013