The Next Generation of Social Marketing
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The document discusses the evolution of social marketing from brand-to-consumer (B2C) approaches to consumer-to-consumer (C2C) approaches. It outlines how C2C marketing utilizes customer advocates to generate word-of-mouth referrals, stories, and recommendations that are amplified through social networks. Case studies demonstrate how C2C marketing can boost sales, referrals, awareness, and ROI. The case study of TastingRoom.com specifically shows how their C2C program increased social referrals, coupon sharing, and earned stories on consumers' social timelines.
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The Next Generation of Social Marketing
- 1. The Next Generation of Social Marketing Nicholas Einstein, VP Strategic Services, Extole @othereinstein @extoleinc amplify awareness boost sales
- 2. 1. The Social Landscape social amplify 2. C2C Social Marketing brand reach referrals 3. Benefits of C2C Marketing 4. Case Study © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
- 3. Extole Overview Extole is the leader in Consumer to Consumer Social Marketing We enable brands and agencies to tap into the power of customer advocates to drive social word of mouth • 250+ leading brands & agencies • Founded in 2009 • Based in San Francisco with over 90 employees Page 3 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 4. Consumer Behavior is Changing Consumers are sharing Social networks reach 82% of more online every day the online population 80% of all purchase cycles “Now friends endorse brands and involve some form of WOM become publishers, driving word of recommendation mouth at scale” Consumers trust WOM Facebook amplifies consumer recommendations stories on the Open Graph Page 4 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 5. The Evolution of Social Marketing Brand-to-Consumer (B2C) Consumer-to-Consumer (C2C) Brand Focused, One Directional WOM Focused, Social Consumer Stories Fans & Likes Brand Pages • Advocate driven Social • Amplifies WOM reach Listening • Fosters trusted, relevant recommendations Page 5 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 6. How C2C Social Marketing Works Advocates Stories Social Amplification Trusted Recommendations Page 6 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 7. C2C Marketing Benefits Sales & Acquisition Reach & Awareness Insight & ROI • New prospects, leads • Amplification via the • Measure program & opt-ins Social Graph results & ROI • High value new sales • New referral traffic to • Gain insights into (AOV & LTV) brand.com advocates & influence • 3-5x conversion over • Earned media for • Track social reach & other channels improved advertising story amplification Page 7 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 8. Quantifiable Marketing Results with C2C Entertainment 11 2.3M Awareness / Media Months Stories Consumer 6 30% Referral Rate Electronics Months Referrals Online Health Conversion 30 433% & Beauty Rate Days Conversions Financial Customer 30 5000 Services Acquisition Days Customers 150 500K Automotive Revenue Revenue Days Average Order 45 233% Online Apparel Value Days AOV Page 8 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 9. Case Study – TastingRoom.com © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
- 10. TastingRoom.com Page 10 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 11. Social Referrals – Advocates spread WOM 11 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 12. Social Referrals – Share on Facebook 12 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 13. Referral Sharing / Stories 13 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 14. Social Coupon 14 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 15. Claim Coupon with Facebook 15 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 16. Unique Code Revealed 16 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 17. Coupon Story Created 17 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 18. Social Expressions 18 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 19. Expression Story Created 19 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 20. Earned Stories on the Consumer Timeline • Story Engagement: • 65% Timeline • 29% Newsfeed • 6% Ticker 20 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 21. Conclusion • In the age of social media, consumers have become a brand’s most influential stakeholder • Social marketing is transforming – in the next phase, earned media and WOM are critical • Facebook’s Open Graph enables brands to drive WOM at scale • Earned media will drive more effective paid media as media types continue to converge • Every brand needs a strategy to cultivate consumer- to-consumer dialogues to drive earned media Page 21 © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL. @extoleinc @othereinstein #MPSMIS
- 22. Contact Us 625 2nd Street St. #101 San Francisco, CA 94107 Thank You | 877 739 8653 | hello@extole.com | © 2012 Extole, Inc. All rights reserved. PROPRIETARY/CONFIDENTIAL.
Hinweis der Redaktion
- We enable brand and agencies to turn existing customers into social advocates that promote the brand to their social graphs, tapping into the power of social referrals.We help brands and agencies identify advocates and then empower and incentivize them to share stories and refer new customers.We were founded in 2009 and are based in San Francisco, CA with over 90 employees. To date, we power social referrals for over 250 brandsWe’re part of the Facebook Preferred Developer Community and a member of WOMMA – the word of mouth marketing association
- Consumer behavior is changing more rapidly than ever before. Consumers are sharing more online every day – whether it updates, posts, shares, photos or +1sMark Zuckerberg predicts that the amount of consumer sharing online will continue to double year over yearThe reach of social networks is staggering. The latest comScore report shows that social networking sites reach 82% of the world’s online population. That’s 1.2 B users worldwide1 in 5 minutes spent online is spent social networkingAt the same time, consumers trust recommendations from their friends and peers more than they trust brand advertising which has an impact on purchase cyclesAccording to Forrester, 80% of purchase cycles involve some form of WOM recommendationThe reach of WOM and consumer sharing is further amplified with the release of Facebook’s Open Graph which creates and broadcasts consumer stories across Facebook.Lead-in: WHAT DOES THIS MEAN….?
- What this means is that there is a massive new marketing opportunity for companies. Traditional B2C or B2B marketing approaches push out brand content to the market – whether via traditional channels – print, TV, radio, billboard, digital channels – search, display, or even social networks. When brands began to build out their presence on social networks (specifically Facebook), they started with Social Media Listening tools that allow brands to listen to all the social activity around your brand. Then the focus shifted to brand pages where brands to have a bigger presence on Facebook and other social networks. They then invested in driving fans and likes. But all of these were really traditional brand-to-consumer approaches and companies have struggleD to see the value of these social marketing investments.Where we see social marketing evolving into is for marketers to harness the reach of their social advocates and foster consumer-to-consumer, social stories about their brand, products and services. This generates trusted WOM referrals and amplifies reach.
- Word of mouth has always been a high-value marketing channel for brands; however, there wasn’t an easy way to automate and measure this traditionally offline process. With the increasing amount of consumer online sharing and conversations brands have a new opportunity:Brands identify advocates, empower and incentivize them to share “stories” (referrals, offers and expressions) about their brand. Advocates share these storiesStories are broadcast across channels – Facebook, Twitter, Google+, LinkedIn, Email and more. This results in social amplification of the story out to the advocates’ friendsFriends receive trusted recommendations and either purchase, redeem, or register – which restarts the cycle as these new customers in turn become advocates themselves.The C2C Marketing process results in measurable social results – new high-value leads and sales, increased traffic and awareness – including improved search based on the social content generated, social insight and ROIAnd the entire process amplifies over time
- C2C Social Marketing drives measurable results – not just likes and followers.Increased Acquisition and Sales with Trusted ReferralsIncreased volume of new leadsHigher value sales with higher AOV (2-3x) and higher customer LTVHigher conversion rates (3-5x over other channels) – according to WOMMA2) Increased Traffic and Awareness Increased shares in the social graphNew referral traffic to brand.com websiteImproved advertising with the powerful user-generated social content that creates earned media3) Better Social Insight and Measurable ROIUnderstanding the performance and ROI of your programBetter understanding of customers, advocates, sharing and channelsAnd visibility into the level of reach and amplification the earned stories have across social channels
- C2C social marketing yields measurable social marketing ROI with improved results across the entire marketing funnel including: awareness, referral rate, conversion rate, customer acquisition and average order value (AOV).•Entertainment brand drove creation of 2.3M stories through advocate sharing in less than a year.•Consumer Electronics brand (Roku) increased customer referral rate by 30% in 6 months•Health & Beauty Brand: (Folica)– Social Referral Program, drove a 16% conversion rate for the program compared to an average 2.9% eCommerce conversion rate over a 30 day period•Financial Services brand – Social Referral Program, drove more than 5000 new customers in March 2012 through the program, currently, they are adding more than 200 new customers a day through the referral program and their social referral program through Extole currently their #1 acquisition channel, driving more sales than any other channel.•Auto Parts Brand –Social Referral Program drove over $1M in Revenue already this year through our program with $500k in the first 150 days•Men’s Clothing Brand –Social Referral Program tapped into their advocates to promote their brand and drove a $350 AOV compared to their standard of $150
- TastingRoom.com is an innovative new website that allows consumers to buy wine by the bottle, glass or a taste with a passionate customer base of wine enthusiasts. Wanting to tap into that customer base and get them to spread the word about the new site and the unique wine tasting options, TastingRoom was looking for a strategic social marketing partner. They embedded C2C programs throughout their customer experience – a referral program, social coupon and social expressions
- Let’s start with the referral program – advocates are offered $25 for every referral plus 50% off a premium wine sampler for sharing with friends. Advocates are rewarded when friends purchase.Back to my point about making sharing easy, advocates can share with friends via email, Facebook, Twitter and PURL (their own URL that can be cut and paste into any communication channel – chat, text, etc)Brands can pre-populate sharing messages to make sharing easier and advocates can choose the default or write their own messages
- This is an example of a Facebook share and highlights open graph integration
- The referral program generates shares or stories that are viewed by friends. These stories are consumer-generated content that will continue to drive views, as well as SEO
- This is an example of an Open Graph enabled Social Coupon. What you see here is a promotional placement on the brand’s home page.
- This is an example of an Open Graph enabled Social Coupon. What you see here is a promotional placement on the brand’s home page.
- Once the customer clicks on the “Claim with Facebook” button, the customer is then prompted with a permission screen which requests an app install. Once installed, the unique coupon code is revealed.
- Then those actiomns are syndicated through the open graph
- And lastly, this is an example of another type of sharing – a social expression – where consumers can share their feelings about products and services for a brand – in this case, want it, tried it, recommend