Evolution of a Social Media Dealer

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Presented by Adam Boalt evolution of a social media dealer

description

Presentation by Adam Boalt, President and Founder of GOSO, an Automotive Social Media Management System

Transcript of Evolution of a Social Media Dealer

Page 1: Evolution of a Social Media Dealer

Presented byAdam Boalt

evolution of asocial media dealer

Page 2: Evolution of a Social Media Dealer

Hi, my name is

Adam Boalt

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President & Founder of GOSO

Consulted for over 30 of the Fortune 500 companiesbuilding high-end web and social media solutions

Featured on Forbes, MSNBC, Wall Street Journal.Recently interviewed the Speed Channel aboutsocial media

Won many awards, recently won first prize inWashington, D.C.’s first technology innovation contest

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Just recently published the e-book,Social Media Best Practices forAutomotive Dealers

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A few things you shouldknow about Social Media.ev

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rA few things you should know about Social Media.

It’s not a fad,it’s a communication trend(like newspaper, radio and tv)

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rA few things you should know about Social Media.

It’s not some shiny objectthat you have to have butdon’t know why

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rA few things you should know about Social Media.

It’s still in its infancy stage,so it’s not too late to get intothe game

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rA few things you should know about Social Media.

The technology is secondary,focus on strategy and process

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rA few things you should know about Social Media.

You have to identify yourbusiness goals and thenwork backwards

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The conversation existswith or without you.

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Customers are continuing to connect toeach other and discuss your brand ordealership whether your involved or not

Your Brand

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It’s important to takeownership of thatconversation.

Your Brand

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Listen to your customers,before you engage inconversation

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It’s important to take ownership of that conversation.ev

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Participate in thecommunity and don’tdirect the message

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Building the rightSocial MediaStrategy.

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rBuilding the right Social Media Strategy.

There is no right or wrong, it’s aboutdelivering the right customer experienceat the right time

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Do you even knowwhere your customersare today?

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rDo you even know where your customers are today?

Where, what and which conversationsare happening?

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rDo you even know where your customers are today?

Why and how does a customer careabout your brand or dealership?

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So why is the engagementat this level becoming sucha struggle for so many?

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The amount of customers joining social networksis growing exponentially every day

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It’s veryhard to scale

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Real-time isn’t fast enough

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So what needs tohappen in order tocreate a successfulSocial Media Strategy?

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rSo what needs to happen in order to create asuccessful Social Media Strategy?

Don’t completely changeyour process

Continue to work with your CRM

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rSo what needs to happen in order to create asuccessful Social Media Strategy?

Understand that it’s amindset change

Anticipate what a customer wants and needs Build a meaningful relationship over time

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Define the businessvalue regardless of theentry point.

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Walk up

Phone up

Web up

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Identify metricsand goals.

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Social media doesn’t have tohave a direct ROI

Increase multipliers of othermarketing channels

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Create Key Performance Indicators

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Increase response rate

Lower your cost per lead

Improve your cross selling

Improve up selling

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rSome Key Performance Indicators (KPI)

Increase your value per transaction

Lower your marketing spend

Increase referrals/recommendations

Life Time Value or Customer Loyalty

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How do weget started?

What departments or programs doyou want to improve?

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Variable OperationsWhat are you currently doing to capitalize on referrals,testimonials or recommendations?

Are you asking them to share their experience with their friends?

Do you ask a customer for a video testimonial?

Do you take a picture of them getting into their new vehicle?

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Keep in mind that each of your customershas an average of 150-200 friends.

Why aren’t you selling them a vehicle?

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Fixed OperationsAre you currently sending out surveys? Are you sharing the positive experiences online?

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Are you currently promoting specials on yoursocial networks? Get your customer to come back

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Cross-sell between departments, encourage themto purchase a new car or see if they have a friendin the market

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What does thefuture hold forDealers or Brands?

Here’s some social media use cases...

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Use Case #1:Monitoring

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How are you monitoring your potential customeror even your existing customers?

Brand monitoring/reputationmanagement

Rapid social response:immediately resolve anynegative sentiment

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How are you monitoring your competition’scustomers?

Capitalize on your competitors angry customers

Trace their negative sentiment andacquire their customers

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Use Case #2:Geo-Location

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Location based customer acquisition is huge

Twitter, FourSquare, etc. are becomingever more popular

If a customer is nearby, encourage themto come in for a test drive

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Use Case #3:CRM Mapping

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Build social graphs aroundyour customer

Understand your customerssocial influence

Know which of their peershave purchased or serviced avehicle with you

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Build aRoad Map

next steps ››

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rBuild a Road Map

Be proactive, not reactive

Understand your market demand

Change your mindset to becustomer centric

Adapt your business rules withemerging technology

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Questions?