Winning the zero moment of truth with word of mouth
Transcript of Winning the zero moment of truth with word of mouth
WIN THE BATTLE FOR CONSUMER ATTENTION WITH
REFERRALS
WHO IS THIS GUY?
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• Jason Dea -‐ COO Forewards
• 10+ years in Marke=ng and Adver=sing
• Worked with 100s of retailers
A FANCY TERM WE’LL BE DISCUSSING
The Zero Moment of Truth A term coined by Google referring to all the research consumers to online BEFORE making a purchase
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THE OLD MODEL OF MARKETING
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S=mulus 1st Moment of Truth 2nd Moment of Truth
In-‐Store At the Shelf
Experience
WE FOUND THE INTERNET
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THE NEW (ONLINE) MODEL OF MARKETING
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S=mulus 1st Moment of Truth 2nd Moment of Truth
In-‐Store At the Shelf
Experience
Zero Moment of Truth
Internet Research
THE BUYER JOURNEY IS FOREVER CHANGED
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S=mulus
In-‐Store At the Shelf
Search
Referrals
Videos
Recommenda=ons
WHERE PURCHASE DECISIONS ARE MADE
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THE MOST INFLUENTIAL ADVERTISING
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This!
Not These Neilsen
WORD OF MOUTH HAS CHANGED
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Refer a few friends over days Broadcast to the WORLD in seconds!
go here…
CONSUMERS ARE INFLUENTIAL
57% of US adults are on Facebook 338 - Average number of friends
Pew research
73% of consumers say Social Media influenced a store visit decision
Empathica
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I’m a big deal
CUSTOMERS HAVE A LOT TO SAY
83% of consumers are willing to refer
Texas Tech
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IT’S WORTH ASKING
65% of new business comes from referrals New York Times People are 4X more likely to buy when referred by a friend Nielsen
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SIMPLE CUSTOMER REFERRALS AND WORD OF MOUTH
TURN TRANSACTIONS INTO REFERRALS
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A customer buys something from your store
We trigger a marke=ng campaign asking them to share
They share an incen=ve with friends and also receive a reward themselves
How you ask: • Targeted template campaigns and messages
THE SECRET TO MORE REFERRALS (1)
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THE SECRET TO MORE REFERRALS (2)
When you ask • Triggered emails at key moments of the customer
journey
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THE SECRET TO MORE REFERRALS (3)
Test, test, test • Quickly test and compare hypotheses
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REAL WORLD RESULTS
“Global beauty brand” – $10,000+ referral sales in first 2 months – 30%+ of customers will refer
“Boutique women’s retailer” – $3000+ referral sales in first 2 weeks – 35%+ of customers will refer
“Custom art prints” – $2500+ referral sales in first 3 weeks – 8% lift in sales
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BUILD A PROFILE OF YOUR BEST ADVOCATES
A recipe to find more advocates • Gender • Location • # of Friends • Purchase behavior • Purchase influence
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Find more of me!
LEARN MORE
• http://forewardsapp.com/
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