The document discusses how trust drives transactions in marketing. It notes four major cultural changes that are reducing the effectiveness of traditional outbound marketing approaches: 1) declining trust in institutions, 2) time starvation and customized media, 3) increased noise and options, and 4) consumers turning to peers for recommendations. The presentation argues that building trust requires minimizing interruptions, demonstrating expertise, empowering customer advocacy, and addressing areas of distrust. It provides ideas for thought leadership content and engagement across blogs, social media and other online venues.
Contemporary Economic Issues Facing the Filipino Entrepreneur (1).pptx
TRUST DRIVES TRANSACTIONS: Social Media Marketing
1. TRUST DRIVES TRANSACTIONS:
A presentweetion for the time-starved
Internet Marketing Conference Vancouver
September 17, 2009
ERIC WEAVER
2. Excess hype, overshare,
pokes, "how well do you know
me" quizzes and stalkers. Why
would I use this for biz?
#annoying
2:30 PM Sep 17 from PowerPoint
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3. Client ?’s: is this a fad? Do social
mktg e orts actually work? The
convo seems so shallow. Who's got
time to manage all this? Srsly?
2:30 PM Sep 17 from PowerPoint
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4. Let’s look at the business of
promoting your business.
less than a minute ago - Comment - Like
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5. Outbound mktg is a $1TT
machine. Each niche = a
full industry. We're
rewarded for storytelling/
intrusion/repetition.
Unchanged in 150 yrs.
2:32 PM Sep 17 from PowerPoint
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7. Where'd they go? Consumers fled to social
netwks where they could connect w/like minds on
interesting subjects, free from commercialism.
2:34 PM Sep 17 from PowerPoint
8. For marketers, social netwks
looked like a smorgasbord of
opportune audiences.
OOH YUMMEH!
2:35 PM Sep 17 from PowerPoint
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9. What’d we get? Same ol’ same ol’.
“Look over here! A chance to WIN!” #yawn
September 17 at 2:36pm - Comment - Like - See Wall-to-Wall
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10. Traditional ads in
social netwks are
like #amway
salesmen showing
up at a cocktail
party. Not the
right context,
kids. #fail
2:38 PM Sep 17 from
PowerPoint
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11. The waning
Outbound Voice:
RT @TNSMedia
Intelligence US ad
spend plunges
14.2%; only online
posts growth.
2:39 PM Sep 17 from
PowerPoint
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12. Four major cultural changes are killing the
outbound voice and spurring dialogue.
less than a minute ago - Comment - Like
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13. CHANGE #1: trust has fallen o a cli . (RT @edelman)
2:42 PM Sep 17 from Edelman Trust Barometer
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14. RT @edelman: “banks, automotives, media and
insurance hit hardest in US.” Wonder abt
schools, cops, doctors (societal pillars)
2:43 PM Sep 17 from from Edelman Trust Barometer
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15. CHANGE #2: time starvation,
micro-niche interests,
endlessly-customizable
media options, expecting
free information
2:44 PM Sep 17 from PowerPoint
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16. #SEARCH: people, products,
info, media I care abt;
#EXPRESSION via blogs,
opinion sites, ratings;
#SHARING what we like, or
hate
About a minute ago - Comment - Like
Generally, consumers don’t
need advertising, marketing
or PR (#TimeToRethink)
2:46 PM Sep 17 from PowerPoint
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18. CHANGE #4: people turn to PEERS when
risk is high, more choices to review, less
time for research. #remarkable
2:48 PM Sep 17 from PowerPoint
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19. Most credible ppl giving me company/product info?
47% believe in PEERS. 13% trust marketers.
#wakeupcall #outboundvoice
2:48 PM Sep 17 from 2009 Edelman Trust Barometer
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20. Trust isn’t just influential, it’s widely shared. 56% age 35-64,
63% 25-34 share trust/distrust on the web.
2:49 PM Sep 17 from 2008 Edelman Trust Barometer
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21. Trust drives preference:
91% choose to buy from
companies they trust,
77% refuse the
distrusted. Bottom line:
TRUST DRIVES
TRANSACTIONS.
2:49 PM Sep 17 from 2009
Edelman Trust Barometer
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22. Growing revenue not abt clever, elegant, loud. Not abt
tools! Nor Ashton/Oprah. Not abt Social Media change.
IT’S ABT PPL TRUSTING YOU.
2:50 PM Sep 17 from PowerPoint
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23. How much more would u trust a company for taking
action to increase communication and transparency?
Positively impact consumers? #proof
2:50 PM Sep 17 from Edelman Trust Barometer
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24. So build a trust strategy. Consider where you are
distrusted. Decide where you’d like to be. Then,
steps to get there. Then execute.
less than a minute ago - Comment - Like
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25. MINIMIZE TRUST KILLERS: Don’t interrupt search. Be
found/referred. Don’t talk abt ur value, demonstrate it.
2:51 PM Sep 17 from PowerPoint
REPRESENT! Demonstrate u know ur stu , a vision for
sector/mkt, that others took a chance & benefitted,
that ur ethical, easy, trustworthy.
2:51 PM Sep 17 from PowerPoint
EMPOWER OTHERS TO SPREAD THEIR TRUST IN YOU.
Give customers a voice. Amplify their words. Make
value sharing e ortless.
2:52 PM Sep 17 from PowerPoint
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26. Look for and target ur
organization’s trust soft-
spots. Rebuild trust there.
Demonstrate. Be real. Take
fodder from conspiracy
theorists.
2:53 PM Sep 17 from PowerPoint
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27. THOUGHT STARTERS, BLOGGING: CEO media/invstr
relations; industry trends/insights; legislation impacts
2:52 PM Sep 17 from PowerPoint
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28. THOUGHT STARTERS, TWITTER (here, now): crisis PR,
timely insights, content alerts, community bldg, event
notices
2:53 PM Sep 17 from PowerPoint
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29. THOUGHT STARTERS, VIDEO: great for intensive
learning, how-to vids, personality pieces, company
storytelling, humor
2:53 PM Sep 17 from PowerPoint
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30. THOUGHT STARTERS, AUDIO: great for distracted
learning, storytelling, conversational thought ldrship,
testimonials, sensory experiences
2:53 PM Sep 17 from PowerPoint
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31. THOUGHT STARTERS, WIKIS: great for event planning,
product developing, crowdsourcing ideas, shared
learnings, distributed wk-in-progress
2:54 PM Sep 17 from PowerPoint
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32. THOUGHT STARTERS, WIDGETS/APPS: get your content
into more places, allow engagement w/o leaving
venue, aggregating valuable content
2:54 PM Sep 17 from PowerPoint
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33. THOUGHT STARTERS, SOCIAL VENUES: brand
awareness, community/CSR discussions, loyalty
programs, consumer feedbk/trials/testing
2:54 PM Sep 17 from PowerPoint
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34. THOUGHT STARTERS, SOCIAL VENUES: brand
awareness, community/CSR discussions, loyalty
programs, consumer feedbk/trials/testing
2:54 PM Sep 17 from PowerPoint
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35. BLOGGER ENGAGEMENT: set up engagement
guardrails. When a post is positive, do you
compliment, agree or ignore?
2:55 PM Sep 17 from PowerPoint
Negative posts: is it a rant, a joke or satire? Are there
factual errors to correct? Do you fix a bad customer
experience?
2:55 PM Sep 17 from PowerPoint
No matter what: be transparent, including links, be
positive/strong, spellcheck, think abt public
perception, and triage accordingly.
2:55 PM Sep 17 from PowerPoint
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36. CONVERSATION MONITORING: fantastic insights into
consumer mindset, sentiment, motivation, interest
areas, company/product performance
2:56 PM Sep 17 from PowerPoint
Lion’s share of convo monitoring can be automated:
blogpulse, Google Blog Search, Technorati,
TweetReach, Twendz/TweetFeel
2:56 PM Sep 17 from PowerPoint
Specialized reporting tools can dive into specifics on
sentiment, motivation, topic trending (Radian6,
Sentimine, MotiveQuest)
2:56 PM Sep 17 from PowerPoint
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37. BOOMERS = propriety. Trained in formalities, don’t
o end, guarded means safe, not so great with “random.”
Suit & tie = trust.
2:57 PM Sep 17 from PowerPoint
GENS X&Y = a nity. Formalities ignored, sharing
means finding, tech is easy, random is life. Consider
your lens. Suit & tie = distrust.
2:57PM Sep 17 from PowerPoint
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38. Trust generated, money happened: blog, FB, YouTube to
connect. Results: 2MM impressions, 2300 new accts,
$4MM in new deposits. @YoungFreeAB
2:57 PM Sep 17 from PowerPoint
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39. FINAL THOUGHTS: SocMed is SO NOT a fad. Google
gave us search. SocMed gave us sharing, connecting.
Won’t get taken away.
2:58 PM Sep 17 from PowerPoint
Social Media reflects that we are time-starved
creatures trying to get our day back, rather than being
shallow. Sharing = finding lk minds.
2:58 PM Sep 17 from PowerPoint
“One more thing for marketers to do”? More like
engaging your market where they prefer to be. How’d
that last trade show budget work out?
2:58 PM Sep 17 from PowerPoint
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40. RECAP: Rethink your entire marketing approach from a
prospective of trust and with a wider lens.
2:59 PM Sep 17 from PowerPoint
Build trust by being found, demonstrating your
knowledge, your vision and your trustworthiness.
2:59 PM Sep 17 from PowerPoint
Finally, use social marketing to leverage the EXISTING
TRUST already established between peers, rather than
buying new trust.
2:59 PM Sep 17 from PowerPoint
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