Social Media Is Not Marketing’s Silver Bullet | TRULY SOCIAL with Tara

Social Media Is Not Marketing’s Silver Bullet | TRULY SOCIAL with Tara


In Jonah Berger’s 2013 book: Contagious,why
things catch on, he drops a huge bomb on the world of marketing. He asks, how much of word of mouth happens
online? Anyone know this? “Anyone? Anyone?”
Ferris Bueller’s Day Off 50%? 30%? “Anyone? Anyone?”
Ferris Bueller’s Day Off It turns out that only 7% of word of mouth
happens online. Let that sink in…7%. And furthermore, I’m not sure if all of that
even belongs to social media channels, either. I’d guess a bunch of it happens over email
and private chat. Girlboss: “911 was an inside job!” “Troll!” “Mods!”
“Banned him. Let’s continue our civilized discussion.” There are literally thousands of ways that your
customers will find you (or not find you) online and off. In conversations over coffee, seeing your
product on a shelf, in a Facebook ad, in a bus ad, in an article in a paper, while searching
on google…the customer’s journey is not at all linear. And it’s especially true nowadays. So…today, I’m going to talk to how social
media is NOT a silver bullet…so why the heck do people keep trying to judge it like
it is?! Then I’m going to talk about what it IS
and why it’s important still to invest in even if it doesn’t directly drive sales. You ready? “Hmmmm? What’s the worst that could happen?”
Day-Zzz by SamGreenMedia My name is Tara and this is
…Truly Social. Okay, we may not know how every customer found
us, but what we DO know is that when it comes to messages, word of mouth has always been
the most effective way of reaching people. According to study by WOMMA (Word of Mouth
Marketing Association), online and offline consumer conversations and recommendations
accounted for an average of 13% of consumer sales (or $6 trillion in annual consumer spending). “Am I supposed to be impressed?” “You should be.”
Sherlock And that may not seem like a lot if you don’t
have a comparison point, so here you go: word of mouth drives 5x more sales than paid advertising. “You had my curiosity, now you have my attention.”
Django Unchained Okay, so…that’s 2.6% for paid advertising,
and 13% for word of mouth – up to 20% btw in higher price categories – so then…what
about the other 84.4%? “That, detective, is the right question.”
iRobot Like I said before, there are thousands of
ways your future customers will find you (or not find you). Advertising isn’t a silver bullet. Social media and word of mouth aren’t silver
bullets. Email, door-to-door, public relations, influencer,
relationship, scarcity, viral, event, search, direct, ambush, promotional, mobile, tele,
affinity, guerrilla, evangelist, and all other types of marketing aren’t silver bullets
either. No matter what type of marketing you invest
in, you will never see an enormous ROI. The famous quote by John Wanamaker about 50%
of advertising being wasted is not only questionable in its origin, but also accuracy in the percentage
reported. Advertising, I’m afraid, has never been
50% effective. “There’s the television. It’s all right there – all right there.
Look, listen, kneel, pray. Commercials!” 12 Monkeys Listen, good marketing means that you will
be more findable, credible, and appealing as the standout choice when people find you
and there are all sorts of ways that social can help with you being more findable, credible
and appealing. “I am an attractive person! I am fun to be with!” Stewart Smiley. Here are just a few things that social is
really good at in your marketing mix: Number one – the ability to listen. The only thing that can bring you closer
to your customers and potential customers would be standing in front of them. If you aren’t investing heavily in listening
and learning from what you are hearing online on social platforms, you aren’t investing wisely – and I’m not
just talking about people talking about your brand either. I’m talking about knowing everything you
can about your customers. Things you wouldn’t know by making the sale
face to face. Their hopes, their dreams, their loves, their hates. “Tell me. I’m ready. I want to know!”
Indiana Jones Number two – amplifying serendipity. Social opens you up to constant and amazing
opportunities to participate in a broader conversation and by participating, you will
find numerous opportunities to lead the conversation and make a great impression. If you’re not there, there are no opportunities. “The world is full of opportunities.”
Irma la Douce Number three – relationship and trust building. You aren’t going to strike up a conversation
through the TV or radio. It’s one way. (D’uh) But that two-way conversation is built into
social media platforms. It’s really awesome. You have so many opportunities on social to
build trust. To have those conversations. “I gotta get some f*&king friends.”
I Love You, Man Number four – feedback. Companies pay hundreds of thousands of dollars
a year for customer surveys and focus groups, but your customers are offering it for free
online. You just have to listen.
(Back to that listening thing) But you get another kind of implied feedback,
too, from analytics. You can’t really tell who paid attention
to your television ad, but you CAN tell who watched your video all the way through, who
liked it and shared it. “I see everything.”
Terminator 2 Judgement Day And, finally, Number five – increasing SEO. Content marketing and social are great ways
to keep the traffic flowing to your site. It’s not as sexy as the other stuff, but
search is such a big part of nearly every customer journey these days. All of these unique advantages that social
brings and yet, many brands continue to dismiss social as another sales pitching, ad pushing
platform. Social isn’t a silver bullet, but what it
IS good at – listening, opportunity creation, relationship and trust building, feedback
and SEO? – it’s REALLY good at. It’s GREAT at. You should be investing in THAT. My name is Tara and this has been
…Truly Social.

4 comments

  1. Word of mouth (offline & online) accounts for only 13% of consumer spending, which drives 5 times more sales than paid advertising. What about the other 84%? Watch Truly Social's video to find out.

    Good marketing means that you will be more findable, credible and appealing. Social media can help with that. Love these videos. Thank you, Tara!

  2. I Hate Advertising, I despise Edward Bernays, I find discussions of marketing very painful… I almost punched a guy recently over "target personas" (he DID go on so!) but, so far, I'm enjoying your videos… how weird is that?

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