Page 1

A
Conversa+on
Marke+ng
Agency

March 26, 2009

© Copyright Idiom Strategies, LLC. 2009

Hi, Iʼm Christine and Iʼm the Chief Conversationalist at Idiom Strategies. This is Yan and Tony. Together we work with companies to develop actionable conversation marketing plans to help them participate in their market conversation.


Conversa+on
Marke+ng
is
the
strategic
 convergence
of: • • • • • • • • •

Influencer/Press
Rela/ons Social
Media Word
of
Mouth
Marke/ng Reputa/on
Management Content
Marke/ng Community
Outreach Lead
Genera/on Online
Marke/ng Event
Marke/ng © Copyright Idiom Strategies, LLC. 2009

Right now you’re probably asking yourself, What is Conversation Marketing? Put simply it’s the strategic convergence of many traditional marketing disciplines all optimized for participating in the market conversation. Think of it as taking the best traditions, customs and teachings from everywhere on earth—the ones that make the most sense to you—and creating your own unique culture. With Conversation marketing, you’re taking the aspects of all these disciplines that are meaningful to your company and your market conversation and building a plan to converse with your audiences.


Iden/fy
 influencers. Understand
who
 par/cipates
&
 who
listens. Address
 ques/ons,
 concerns
&
 praise
 immediately. Communicate
 openly
with
the
 right
Tools
in
the
 right
Loca/ons.


© Copyright Idiom Strategies, LLC. 2009

But what does it mean to “Participate” in the market conversation? Well, True participation is a mixture of activities aimed at accomplishing 5 objectives. And the optimal mix is unique to every company. * The first objective Listening to current customers, prospects, experts and other influencers and internalizing what you hear. Really listening to what people need and want. * The second is Speaking to the overall market conversation with quality, helpful content that people want to respond to and pass on. * The third is Caring about what the market is saying about you, your products and the industry, but also caring about helping people fulfill their needs and wants and not just about selling your products. * The next objective is Sharing your experiences—both positive and negative. Highlight your wins, but also your customers’ successes. Own up to errors and work toward resolutions. * The final objective is Building relationships. Identify Influencers, understand who Participates and who Listens to the market conversation. Be open to communication with everyone.


Conversa+on
 Marke+ng
 Vs.
 Other
 Marke+ng
 Disciplines © Copyright Idiom Strategies, LLC. 2009

Conversation marketing strategies are more effective than simple traditional strategies because it focuses on a 2-way dialogue with all audiences. Older approaches were very one-directional because they weren’t working toward the 5 objectives of Listening, Speaking, Caring, Sharing and Building Relationships.


The
80/20
Rule Influencers
&
Par+cipants Influence

Listeners
 (aka
customers
&
prospects)

© Copyright Idiom Strategies, LLC. 2009

Influence plays a big role in conversation marketing. Understanding market influence is vital to determining the right conversation marketing mix. The 80/20 rule applies here. 80% of the market conversation ecosystem is influenced by the 20% of Influencers and conversation participants.


Peers
&
Colleagues In‐person
events
 Online
communi/es,
forums,
social
media Online
events %
IT
Buyers
Influenced
By... Interac/ve

online
media 12% 33% 16%

17%

23% © Copyright Idiom Strategies, LLC. 2009

As an example of how influence works in a market space, This recent report by Forrester illustrates who and what influences IT buyers All of which are part of the market conversation.


Influencers

Creators
43%

Par/cipants


Listeners

Cri+cs
58%

•Review and Rate Products •Comment: Blogs/Forums •Contribute to Wikis

Collectors
48%

•RSS Feeds •Vote/Surveys •Tags/Bookmark sharing

Joiners
55%

•Visit Social Sites •Maintain Online Profile

Spectators
91%

*Forrester
Research,
February
2009:
 The
Social
Technographics®
Of
 Business
Buyers

•Publish content: Blog/ Website, Video/Audio, Presentations •Articles/Research Reports

Inac+ves
5%

•Reads: Blogs/Articles/ Reports/Chats/Microblogs/ Reviews •Watches/Listens: Podcasts/ Webinars/Videos •Does nothing

© Copyright Idiom Strategies, LLC. 2009

By
now
you
might
be
wondering
how
to
tie
all
this
together
to
end
up
with
an
actionable
 marketing
plan.
 But
first
it’s
important
to
understand
the
market
conversation
ecosystem It
can
be
broken
down
into
three
groups.
First
there
are
Influencers.
the
Individuals
and
 entities
who
influence
customers
and
prospects.
 Next
there
are
Participants.
the
Individuals
who
respond
and
contribute
to
the
topics
typically
 raised
by
Influencers. Finally,
there
are
Listeners
who
happen
to
be
the
largest
group
and
generally
include
your
 customers
and
prospects.
They
are
the
Individuals
who
look
to
Influencers
and
Participants
for
 purchase
advice. Forrester
Research
breaks
it
down
even
further.
Influencers
are
equivalent
to
creators— essentially
the
people
who
raise
topics
by
voicing
or
publishing
their
knowledge
and
opinions.
 Participants
are
equivalent
to
what
Forrester
calls
critics,
collectors
and
joiners—what
these
 three
groups
have
in
common
is
that
they
all
participate
in
the
market
conversation
in
some
 way
by
responding
to
what
the
Influencers/creators
are
saying.
Then
Listeners
are
equivalent
 to
Spectators.
You
can
see
that
this
is
the
biggest
group.
And
yes,
you’ve
probably
surmised
 that
sometimes
people
and
organizations
fall
into
more
than
one
of
these
groups.
That’s
why
 it’s
important
to
be
constantly
listening
and
monitoring
what’s
happening
in
the
market
 conversation.



Š Copyright Idiom Strategies, LLC. 2009

The last part you’ll want to understand is that the conversation is happening both on and offline in different Locations, both physical and virtual. The locations where the conversation takes place is highly dependent on your industry, the influencers and many other factors, but they can include: * Social Media Networks, Blogs and other Social Media Outlets * Forums and Chat rooms * Conferences, Tradeshows and other sponsored events * On and Offline Publications and Industry Research * User Groups and Industry Trade Organizations * Webinars, Podcasts and Webcasts And then there are Tools. People use different tools to participate in the conversation. These are the means by which they voice or publish their thoughts And also the ways in which they take in information. * Social media technology such as blogs, wikis, networking sites and many others * News aggregators, RSS Feeds, alerts and other tracking systems * Podcast, webcast and webinar technologies * Live speeches and presentations * Calendaring technologies and Web communities * Email, and yes, even snail mail


• Iden/fy
Influencers • Understand
Par/cipants
 and
Listeners • Discover
what
the
Market
 really
needs/wants
and
how
 they
perceive
solu/ons • Research
Conversa/on
 Loca/ons
&
Tools

• Current
Marke/ng
 Ac/vi/es • Conversa/on
Messaging • Rela/onship
Development
 Best
Prac/ces • Conversa/on
Par/cipa/on
 Best
Prac/ces • Measurement/Monitoring


Conversa+on
 Marke+ng
 Plan

© Copyright Idiom Strategies, LLC. 2009

Now we get down to figuring it out. To determine the optimal mix of conversation marketing activities you need to really look at the market conversation. Do a full Market Conversation Analysis to understand the ecosystem, the Locations, the Tools and topic trends. Then, with the five conversation marketing objectives in mind, review your current marketing activities to see how well they’re doing. How can you alter your marketing messages to be more conversational? Are you extracting market conversation content? Review your research findings with the 5 objectives in mind and you’ll begin to see what you need to do to Listen and what to do with that information, where and when to speak and what to say, how to show you care, what to share and when to share it, and who to build relationships with. Unfortunately, success can’t be pulled off a shelf. The trick is to gather enough knowledge, and continually listen and watch for changes, so that you can choose the right mix of activities.


© Copyright Idiom Strategies, LLC. 2009

The benefits you can expect from activities that achieve the five conversation marketing objectives include: * Increased brand visibility: If you’re participating with quality content more people will be noticing you. * Decreased market research costs: You won’t need to spend as much on focus groups or market research because you’re paying attention to what the market needs. * Reduced impact from negative user-generated content: Not everyone in the world will love you and you will have some customers who are unhappy, but conversing with them both in public and private to resolve their issues will keep them from telling everyone else that you’re a bad company. * Increase in direct inquires and more qualified leads: Potential customers will have a better understanding of who you are and what you offer before they contact you. * Increased sales: When you actively interact with the entire conversation ecosystem you’ll expand your brand awareness and improve brand perception. * Increased sales win ratios: Your sales team will be able to counter sales objections with relevant content from the market conversation. * Increased customer retention: Actively communicating with your customers and the communities they’re involved with makes it less likely that they’ll leave. * Increased equity of your created content: You’ll leverage activities in the market conversation to expand the reach of your created content. * Full equity in influencer relationships: Unlike a PR agency, we don’t own the relationships with the Influencers, you do.


Chris+ne
Fife
–
Chief
Conversa+onalist Idiom
Strategies
LLC PO
Box
640172 San
Francisco,
CA
94146 415.494.8212 chris/ne@idiomstrategies.com www.idiomstrategies.com Twiger:
@chrissfife

© Copyright Idiom Strategies, LLC. 2009

I hope you find this presentation helpful. If youʼd like to know more about Idiom Strategiesʼ approach to conversation marketing, look over the Services and Approach tabs on our website or watch our Idiom Strategies Approach to Conversation Marketing video presentation. Feel free to email or call with any questions. Cheers

What is Conversation Marketing  

An Idiom Strategies presentation on conversation marketing.

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