steve raquel - smw
TRANSCRIPT
Social Media Week Chicago 2014
The Fingerswipe Generation And The Impact On Your Online Reputation
Steve Raquel – IOV Media
Today’s Agenda• IOV Media Background• Social Media #fails & #wins• The Truth About Your Online Brand• How Do You Protect & Grow Your Online
Reputation
Professional Resume• 20+ years in sports & brand marketing• 5 years in social media space• 1500+ LinkedIn Connections• 63 Klout Score• Manage more than 100 different Social Media
Pages
University of Illinois’92-’93 B.S./M.S. in AdvertisingHonorary Varsity I RecipientActive with Alumni AssociationGuest Lecturer
Step 1 - Defining your value and your audience
• What is your company value?• Why do people buy your product or service?• Who is your target audience/those that you
serve?• Why is your company better?
Oakland Raiders Nick Roach
Facebook Fans: 5000Twitter Fans: 30.6KYouTube Views: 54,900
Step 2 – Colors, typography and graphics• When choosing your colors, typography, and graphics,
look for those elements that convey your valueo Design elements play an important role for how you are perceived in the
market• Are you a friendly and approachable company? Are
you a strong, stable, secure company?o Whatever you want to be align your logo, colors, type and graphics around
that ideal.
Allied Van LinesFacebook Fans: 19,500Twitter Fans: 4200Leading Moving Company In Social
Media
The Fingerswipe Generation
Social Media #Fails
Social Media #fails
Social Media #fails
#bashtagging
Social Media #fails
Social Media #fails
Social Media #wins
Social Media #wins
Social Media #wins
Social Media #wins
The Truth
• Between one and three bad online reviews would be enough to deter the majority (67%) of shoppers from purchasing a product or service, according to a Lightspeed Research study.
THE SITUATION
• Over half of Millennials (consumers aged 18 to 34) trust the opinions of strangers online over those of friends and family. "Social Trends Report 2012", Bazaarvoice, June 2012
• Majority of consumers (74 percent) rely on social networks to guide purchase decisions. (Gartner, July 2010)
Social Media is impacting our reputation
It has costs careers
It’s impacting how we shop
It’s changing the selling process
More importantly,Brands can’t hide from it.
Brands AREN’T PREPARED
Brands are slow to social media
The Impact of Social Media
“When consumers hear about a product today, their first reaction is ‘Let me search online for it.’
And so they go on a journey of discovery: about a product, a service, an issue, an opportunity.
Today you are not behind your competition. You are not behind the technology. You are behind your consumer.”
— Rishad TobaccowalaChief Strategy & Innovation OfficerVivaKi
The physical and digital worlds are now coming together. So it’s not about place; it’s about ANY place.”
- Author Don Tapscott
Today’s Reality• Customers want to know about you
BEFORE they want to know about you.• Customers way of making a choice has
become more transparent and more involved than ever before.
• Consumers control your brand, not you.• Everyone is a brand.
Old Process
Customer CompanyWebsite
Direct Mail
YP
Ads
WOM
Tradition Shopping Model
WINNING THE ZERO MOMENT OF TRUTH by Jim Lecinski
Zero Moment of Truth
WINNING THE ZERO MOMENT OF TRUTH by Jim Lecinski
New ProcessCustomer
Company
Search Engine
Results
Website
Social Media Recommendatio
ns
Blogs
Review Sites
Google Results Twitter
YouTube
The Impact of Social Media
“Engagement with the customer today isn’t just pouring a message down on their head and hoping they get wet.
It really is understanding that you must be present in a conversation when they want to have it, not when you want to.
Pre-shopping before buying has become a huge, huge part of customer behavior. In the past, it was pretty much confined to big-ticket items like cars, or expensive electronics or homes. Now people engage in discovery before shopping on very small things.
It’s crossed all categories of shopping behavior. It’s just the way people buy today.”
— Bob ThackerGravitytank Strategic Advisor and former CMO of OfficeMax
WINNING THE ZERO MOMENT OF TRUTH by Jim Lecinski
The Impact of Social Media
Before ever entering a store, 62% of Millennial shoppers already know what they
want to buy through prior online research. Eighty-four percent of them say consumer-
written content on brand sites influences what they buy.
— Social Trends Report 2013
WINNING THE ZERO MOMENT OF TRUTH by Jim Lecinski
How can you control and grow your online
reputation?
Take Responsibility
Limit Autoresponses
Discover thyself
Have a social media plan to respond
Have a plan & be prepared
• 58.2% of brands receive customer complaints via social media ‘occasionally.
• 26.1% of brands’ reputations have been tarnished as a result of negative social media posts; 15.2% lost customers and 11.4%lost revenue.
• 23.4% of brands not only do not have a strategy in place to manage negative social commentary, but do not have plans to develop one.
Source : Soc ia l Med ia Market ing Un ivers i t y
Listen
Find a tool you can use• Google Alerts• Radian6• Sprout Social• Reputation.com• Hootsuite
Source : Soc ia l Med ia Market ing Un ivers i t y
Reviews Management - Reputation.com
Be Quick To Respond
Don’t Delay A Response
Source : Soc ia l Med ia Market ing Un ivers i t y
Be Real
JUST RESPONDING CAN BE GOOD• After seeing a brand response to a
review, 71% of consumers change their perception of the brand.
- Bazzarvoice, 2014
EncourageYour Fans
LET YOUR FANS HELP YOU GROW• The number of reviews and average
rating on a product correlate closely with conversion to purchase. In the Beauty product category, when the number of reviews increases from 1 to 15, we see a 56% increase in orders.
- Bazaarvoice, 2014
You can’t get rid of social media…
EMBRACE IT!At the end of the day, we have one rule: Make the customer happy. Take care of the problem. And I think when you’re that open and honest and transparent about trying to resolve an issue, you immediately turn a customer into an advocate.”
- Patrick Duncan, SVP eCommerce, Helzberg Diamonds
