social's real impact on buying behavior - digital marketing exchange - r2i
DESCRIPTION
Most marketers think of social media as a tool and while it is indeed a tool that helps to publish content and engage with target audiences there are certain aspects of social media that marketers need to understand as it relates to their customer's buying behaviors. Rather than focus on how many likes, fans or retweets social can generate, marketers should focus on the un-owned properties and communities of interest that their audience turns to for advice seeking and giving. Since more than 75% of consumers have completed all their research before making a buying decision, it is imperative that brands understand where their customer is getting their information so they can contribute in a relevant way to their customer's decision-making journey.TRANSCRIPT
Social’s Real Impact—Changing the Way People Make
Purchasing Decisions
September 23, 2013
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Evolution of Web’s Role in Decision-Making
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Sources that Internet Users Trust
Brand or product recommendations from friends and family
Professionally written online reviews (i.e., Consumer Reports)
Consumer-written online reviews (i.e., Amazon)
Natural search engine results
Information on websites of companies or brands
Sponsored search engine results
Emails from compnaies or brands
Posts by companies or brands on social network sites
Information on mobile apps from companies or brands
Ads on websites
Text messages from companies or brands
0% 10% 20% 30% 40% 50% 60% 70% 80%
Review Sources% of Respondents (Source: Forrester, "North American Technographics Online Benchmark Survey" March 2013)
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Reasons U.S. Internet Users Go Online Before Making a Purchase
Research product/service information
Search for consumer or user reviews
Search for product/service on ratings websites
Search for opinions from product/service experts
Read articles or blog posts about the product/service
Solicit opinions from their social network
0% 10% 20% 30% 40% 50% 60% 70% 80%
2011
2010
Source: eMarketer.com
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Content Remains King
Source: eMarketer.com
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Understanding Information Consumption
Peer-to-peer online networks have changed the way people discover
information, evaluate and purchase products and services.
The decision to buy occurs around people, places and content of
interest. This PPC is known as the “Conversation Layer” and is
happening in both owned and un-owned properties.
Consumers joining the “Conversation Layer” represent risk reduction
behavior; understanding this is fundamental when designing a social and
content strategy.
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Dealing with Dark Social
Source: pardot.com
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The Conversation Layer
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SOCIAL’S REAL IMPACT:
How does this change your business?
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Questions for the Audience
How does this effect my budget?
How does this effect my org chart?
How does this effect relationships with vendors?
What is technology’s role?
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Questions for the Audience
How does this effect
my budget?
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Budget Implications
• Becoming a Publisher—Creating Content
• Loyalty and Call Centers
• Product Development
• Reduction in Awareness Media
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Questions for the Audience
How does this effect
my org chart?
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New Marketing Leadership
CMO
V.P. Marketing Channels
V.P. MarketingTechnology
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Questions for the Audience
How does this effect
relationships with
vendors?
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Vendor Relationships
• We have too many of them.
• Specialists are ruling the day.
• They better be tech savvy.
• Where does the big idea come from? Does it matter?
• Which vendor should I use?
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Questions for the Audience
What is technology’s
role?
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Technology’s Role
• Supports marketing
• Supports sales
• Supports customer
• Publishes content
• Collects data
CMO will have the same number IT folks
reporting to her as the CTO
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So how are we doing it?R2i Case Study
2020
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R2i Case Study
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Social’s Real Impact
We aren’t going to advertise anymore; we are
going to manage communities.
--CMO, Coca-Cola
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Marketing in a World Where All Things are Known
Takeaway 1: Decision-Making is the CORE
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Marketing in a World Where All Things are Known
Takeaway 2: Decisions are made in the “Conversation Layer”
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Marketing in a World Where All Things are Known
Takeaway 3: Map the Conversation Layer = Strategy
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Marketing in a World Where All Things are Known
Takeaway 4: Advise all areas of channel activation
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The New Org Chart: Conversation Layer Team
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Informing the Strategy
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Informing the Strategy
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Informing the Strategy
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Informing the Strategy
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www.r2integrated.com
@r2integrated