Womma tap influence final3.22.2015
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This document summarizes a presentation on word-of-mouth marketing. It finds that word-of-mouth is responsible for $6 billion in annual consumer spending and drives 13% of sales. Word-of-mouth also amplifies paid media by 15% and has a more immediate impact than traditional media. The presentation discusses how to build an effective word-of-mouth strategy focusing on audiences, engagement, and measurement of outcomes rather than just activities. It also provides examples of successful word-of-mouth campaigns that increased sales, reach, and engagement through the use of influencers.
Womma tap influence final3.22.2015
- 1. www.womma.org Is Word Of Mouth Marketing Really Worth it?
- 2. PRESENTORS Holly Hamann Co-founder and CMO TapInfluence @HollyHamann Suzanne Fanning President WOMMA @WOMMA
- 3. WHAT WE’LL COVER KEY FINDINGS FROM WOMM ROI STUDY BUILDING A WOMM STRATEGY BEST PRACTICES FOR WORKING WITH INFLUENCERS WOMM SUCCESS STORIES
- 4. Our vision at WOMMA is to grow appreciation for the practice of word of mouth marketing and its value while remaining the leading industry resource. We achieve this by focusing on 3 key areas: • Ethics • Advocacy • Education WOMMA provides opportunities to connect, network and showcase your industry leadership as you grow your career and business. WHO IS WOMMA?
- 5. www.womma.org Word of Mouth is responsible for $6,000,000,000 in annual consumer spending Return on Word of Mouth Study, 2014
- 6. www.womma.org WOM Drives 13% of Sales
- 7. www.womma.org WOM Amplifies Paid Media by 15%
- 8. www.womma.org WOM Has More Immediate Impact Than Traditional Media
- 9. Consumer Trust Beats All Other Forms of Marketing
- 11. 11 PEERS BEAT OUT ALL OTHER FORMS OF ADVERTISING BUILDING A WOMM STRATEGY
- 12. YOUR STRATEGY STARTS WITH PEOPLE Who is your audience? Where is your audience? How do you engage them? How do you turn them into fans? What makes a good program? How do you measure it?
- 13. ✓Delighting them ✓Thinking you should care about them ✓Consumer control ✓High attention to WOMM ✧Disrupting them ✧Thinking they should care about you ✧Corporate control ✧High Ad Spend OVER NOW APPROACH
- 14. A GOOD WOMM PROGRAM CONTAINS FIVE KEY COMPONENTS Respectful Transparent and trustworthy behavior matters between brand and consumers. Credible Honest and authentic messages from brands-to-consumers and from person-to-person. Social Involves brands listening to, responding to, and encouraging conversations online and offline.Repeatable The capability to do it over and over again in order to become a talk-able brand. Measurable Ability to define, monitor, and evaluate success.
- 15. POSITIVE EXPERIENCES ARE THE FOUNDATION 83%of WOM involves personal experience, which is more credible and leads to more sales
- 16. 16 C2C MARKETING HARNESSING THE POWER OF OPINION Through Consumer-to- Consumer (C2C) sharing and awareness, marketers can actually harness the power of opinion. Forrester Research
- 17. DOES IT HAVE TO BE DEEP AND MEANINGFUL CONTENT?
- 18. DOES IT HAVE TO BE DEEP AND MEANINGFUL CONTENT?
- 19. LISTENING IS GOOD PARTICIPATING IS BETTER
- 20. HOW TO HANDLE NEGATIVE CONTENT
- 21. HOW TO HANDLE NEGATIVE CONTENT
- 22. HOW TO HANDLE NEGATIVE CONTENT
- 24. ✓Digital tracking ✓Surveys ✓Matched market studies ✓Shopper studies ✓ Engagement (activities) ✓ Advocacy (reach/content) ✓ Brand lift ✓ Sales lift & ROI WHAT HOW MEASURE WHAT MATTERS
- 25. ACTIVITY METRICS ALONE DON’T MEASURE BUSINESS RESULTS Activity Metrics Outcomes • ↑ Likes • Number of “Talking About This” • Demographics • Reach Facebook • Number of Followers • Number of Retweets • Reach • Number of Registrants/members • Dwell time • Views • Sentiment TwitterCampaign • Tracks awareness • Indicates number of people creating content related to your brand • Gives insight into general category of viewers • Measures potential audience • Tracks individuals receiving message • Indicates when content is shared • Measures potential audience • Tracks number of participants • Shows general level and area of interest • Tracks total number of visitors • Approximates participant attitudes
- 26. CONVERTING ACTIVITY METRICS INTO PERFORMANCE VALUE Activity Metrics Outcomes • ↑ downloads of product information • Number of product pages/reviews shared • Number of inquiries about product on review sites • Number of views product demos/video • Number of views product reviews • Number of participation levels in contests/promotions Advocacy KPI: Generate Product or Brand Consideration KPI: Decrease Cost of Product Support • ↑ Number of creators/critics in support community – Customers // FTEs • Number of questions asked in community • Number of questions answered by customers • Number of questions answered by FTEs in community • ↓ cost per question answered // ↓ time to answer // ↓ open questions • ↑ positive ratings of content/answers KPI: Drive Product Innovation • Number of idea comments/refinements • High rating of ideas • Number of votes/ideas • Number of creators/critics • Number of actionable ideas SupportFeedback • ↑ brand/product consideration • ↑ NPS • ↑ customer satisfaction • ↑ positive word-of-mouth • ↑ revenue • ↓ cost of support • Faster time to market • ↓ cost of innovation • ↑ product success
- 27. TOP 10 FOR MARKETERS 1. Start with people not platform 2. Provide an experience 3. Be creative 4. Find ways to love THEM 5. Ask the right questions and listen 6. Be visual 7. Give them great content 8. Have a sense of humor 9. Make it easy to share 10. Measure what matters
- 28. Total Reach: 33.5K Total ReachL:4.6M Total Reach: 165.9K Total Reach: 661.5KTotal Reach: 119.8K Total Reach: 1.3M How Can Influencers Help?
- 29. 1. Trust 2. Very targeted audience 3. Authentic consumer experience 4. Bigger reach than brands 5. Better, faster, cheaper 6. Shareable WHY DO INFLUENCERS INFLUENCE?
- 30. WHAT TO LOOK FOR IN AN INFLUENCERCONTENT RELEVANCE POST FREQUENCY AUDIENCE DATA CONTENT QUALITY AUDIENCE ENGAGEMENT PROFESSIONALISM BUILD A RELATIONSHIP BE RESPONSIVE BE CLEAR ABOUT EXPECTATIONS COMPENSATE THEM 1 2 3 4 5 6 7 8 9 10
- 31. INFLUENCER MARKETING DO’S & DON’TS • Choose the platforms and content that matter to your consumer • Select the right influencers by looking at content, relevance, engagement • Repurpose content to owned assets • Create a value exchange
- 32. INFLUENCER MARKETING DO’S & DON’TS • Don’t disrupt by trying to sell them something • Don’t try to control every aspect of the content and messaging • Don’t just measure influence on reach alone • Don’t stop at short-term gain – think long term and “always on”
- 33. • Let them tell authentic stories • Think of them as partners • Showcase content on various of Facebook, Pinterest, Twitter, YouTube • Give proper influencer attribution • Provide clarity on what actions you want the audience to take • Be “always on” • Increase value (and exposure) of content by using in ebooks, blog posts, webinars, email marketing, advertising, case studies • Compensation KEYSTHE INFLUENCERS TO WORKING WITH
- 34. Over 10,000 consumers hosted a get to know Chef Boyardee house party during the back-to- school season. CHEF BOYARDEE SERVING UP QUICK & TASTY MEALS
- 35. This campaign, by The Good Agency, used Instagram to help raise millions of dollars and bring clean water to 134,000 people in Malawi. Supporters could follow the progress of the Big Dig appeal in real time, including being there when the borehole was dug and clean water arrived. The Big Dig blog was central to the appeal. The results: ✓ Digital channels raised money directly, but also raised awareness and contributed indirectly to the whole campaign. ✓ 26,654 unique users visited the Big Dig blog. ✓ The Big Dig reached over 1,500,000 Twitter accounts. WATERAID THE BIG DIG
- 36. A Scissor Manufacturer— The Fiskateers program exceeded every goal with evangelists in 70 countries. This program tripled sales and increased online chatter by 600%. A commercial electricity provider— 62% of their customer base were Advocates (customers who recommended their service). An anti-virus computer software company-- Advocates created 6,180 positive reviews and share d them to Facebook, Twitter, third party review sites, and via email. A file transfer platform— 72,200 Advocates generated 41,300 recommendations through creating and sharing reviews, writing testimonials, and sharing branded content on Facebook, Twitter, and SNOOZE TOWN BUT MY BRAND/SERVICE IS BORING…
- 37. SCALE REACH • 50 bloggers created posts, photos and videos • Content shared on blogs, social media • Aggregated to Black Box hubpage • Views of site increased 31% • Time on site increased 56% • Social mentions increased 44% • Positive mentions increased 221% • Campaign still producing results – “always on”
- 38. • Traditional tested recipes cost $500 distributed via ads and coupons • Needed high quality content, distribution at scale, less cost, and more effective at engaging consumers • 180 influencers on blogs and social media • 760K blog post views • 178K pins • 16K clicks to coupons • 7,700 shares • 1,700 tweets • ROI of 3,100% SCALE CONTENT
- 39. • Engaged influencers on blogs and social platforms • Promote new ID flavors • 7M in reach • 639K views • 21K engagements SCALE ENGAGEMENT
- 40. • Engaged influencers on blogs and social platforms • Promote new product • $1.04M in estimated media value (EMV) • 29.4M in reach • 1.4M views • 52.9K engagements SCALE ENGAGEMENT
- 41. A FEW ADDITIONAL RESOURCES FOR YOU TO CONSIDER • Solving the ROI Riddle • Influencer Handbook • Listening is Good, Participating is Better • All Things WOMM Blog • Ethics Toolkit • Social Media Disclosure Guide • Social Media Policy Template
- 42. QUESTIONS?