Culture Flow A Social Influence Marketing Framework

Culture Flow A Social Influence Marketing Framework Expedient MEANS A social network is a massive convergence of culture Copyright © 2008 Steve A Furman Social networking is the flow of content into media platforms Blogs Blogs Social Social Networks Networks Prediction Prediction Markets Markets Consumers / Cultures Copyright © 2008 Steve A Furman Peer Peer Reviews Reviews Microblogs Microblogs Wikis Wikis Brands / Companies The classic linear marketing funnel has been in practice for over 50 years AWARENESS • Broad Media • Direct Marketing • Rigid silos now exist within organizations occupied by sales, marketing, service, advertising and IT • Communication channels are rarely integrated • Legacy technology challenges limit innovation CONSIDERATION • Landing Page CONVERSION • Site Interaction REVENUE New Customers • Push marketing strategies and tools are typically chosen • Shout marketing, not conversations dominate messaging • Brand assets / content are “protected” inside the walled garden ENGAGEMENT • Broad Media • Direct Mail, E-mail • Site Experience LOYALTY • Usage • Multiple Products • Recommend to a Friend LIFETIME VALUE Copyright © 2008 Steve A Furman Existing Customers Social networks have broken the traditional model, and marketers are now faced with a complex social ecosphere • Social networks have given consumers more power • Linear communication, carefully controlled by brands, has been pushed aside by consumers in favor of a sphere of information • Consumers no longer move in an orderly fashion from touchpoint to touchpoint • Users click to web sites, but go to blogs, communities and social networks looking for validation before they buy Copyright © 2008 Steve A Furman Blogs Blogs Social Social Networks Networks Prediction Prediction Markets Markets Peer Peer Reviews Reviews Microblogs Microblogs Wikis Wikis Social Sphere of Information If you don’t like change, you’re going to like irrelevance even less – Tom Peters Social media must become an integral part of the marketing lifecycle experience for prospects and customers Copyright © 2008 Steve A Furman AWARENESS • Broad Media • Direct Marketing New model thinking Low Social Influence Marketing (SIM) CONSIDERATION • Landing Page Consum er Trust • Create snack-sized content that travels easily • Develop social networks and applications that have meaning for its members • Clearly define and track SIM objectives and metrics Blogs Blogs Social Social Networks Networks Prediction Prediction Markets Markets • Craft business models that map to value found in social networks • Integrate SIM strategies into current marketing activities Peer Peer Reviews Reviews Microblogs Microblogs High Wikis Wikis CONVERSION • Site Experience • Be committed to improving products and services REVENUE Social Influence Marketing Tools Blogs Blogs Social Social Networks Networks Prediction Prediction Markets Markets Copyright © 2008 Steve A Furman Peer Peer Reviews Reviews Microblogs Microblogs Wikis Wikis Broad Media Broad Media Direct Mail Direct Mail New Customers Existing Customers LOYALTY • Usage • Multiple Products • Recommend to a Friend E-mail E-mail LIFETIME VALUE What you must believe to succeed with SIM • The value of your content is much greater when distributed outside the corporate environment vs being locked up inside • By selectively letting go of your assets, you will create more powerful marketing opportunities within social networks • SIM is not about controlling the conversation, it’s about participating in the conversation (control was lost a long time ago) • You can banish your fear of negative user generated content (they’re already talking behind your back, you just don’t know what they are saying) • Realize the best way to keep power, is to share it Copyright © 2008 Steve A Furman Benefits of practicing SIM • Entirely new marketing campaigns, and consumer touchpoints will be created • The brand will be re-imagined and re-energized • New online database can be created to capture preference information and user generated content to better target your products • The more consumers see you in the culture flow, the more they will trust you • Consumers will talk and share thoughts about your brand in the groundswell • Brand evangelists will emerge as trusted sources for consumers who are in the critical consideration phase Copyright © 2008 Steve A Furman Steve A Furman http://expedientmeans.wordpress.com Expedient MEANS