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Welcome to the Internet Success System Master Mind Conference March 2006 WOMBAT Marketing Presented by Mark Hendricks especially for the Internet Success System Live Master Mind Conference March 2006 © 2006 Mark Hendricks WOMBAT Marketing W – Word O – Of M – Mouth B – Buzz A – And T – Tell A few good books… Influence: The Psychology of Persuasion – by Robert Cialdini The Secrets of Word of Mouth Marketing – by George Silverman Buzzmarketing – by Mark Hughes Influence: The Psychology of Persuasion – The Six Triggers 1 - Authority / Expert If people perceive you as an expert, they will respect your opinion, and believe what you say is true and worthwhile Influence: The Psychology of Persuasion – The Six Triggers 2 - Liking People do business with people they like - if you want a friend, be a friend Know You, Like You, Trust You Influence: The Psychology of Persuasion – The Six Triggers 3 - Commitment and Consistent Behavior Begin with small commitments, things that are easy to agree to Develop the trust relationship over time Influence: The Psychology of Persuasion – The Six Triggers 4 - Reciprocation Do a favor for them first The tendency is to return a favor to someone who has helped us Influence: The Psychology of Persuasion – The Six Triggers 5 - Social Proof Others think you’re good, so you are quickly accepted as good by others (personal testimonials) Influence: The Psychology of Persuasion – The Six Triggers 6 - Scarcity People tend to want what is scarce Create special offers with a time limit, and/or quantity limit Word of Mouth Marketing “Getting people to talk often, favorably, to the right people in right way about your product is far and away the most important thing that you can do as a marketer.” - George Silverman Word of Mouth Marketing “What other people say about you, your product or service, and your company has much more influence on your prospects than anything you could ever say about yourself.” - Mark Hendricks WOMBAT Marketing All of your marketing efforts should have the goal of creating positive WOMBAT from one person to another And this WOMBAT effort should be systematized just like all other areas of your business Marketing 101 Three ways to grow your business: 1 – Increase number of customers 2 – Increase dollar amount of each purchase 3 – Increase purchase frequency WOMBAT Marketing Add #4… Speed up the prospect’s decision making process to buy from you the first time and each time thereafter WOMBAT Marketing The Decision To Buy Speed has more influence on your sales and market share than positioning, image, value, customer satisfaction, guarantee, or even quality It creates… Marketing Momentum WOMBAT Marketing Buying Bottlenecks The series of decisions that your prospect has to go through before purchasing from you You must make it easy for people to buy from you by removing the Buying Bottlenecks WOMBAT Marketing Buying Bottleneck Busters Provide compelling benefits, claims, and promises Present clear, credible and balanced information Point out unique differences Make it easy to try – free trials? WOMBAT Marketing Buying Bottleneck Busters Make it easy to evaluate Risk-free guarantees Relevant and believable testimonials (experts and users) Terrific service and followup (delivery, training, and support) WOMBAT Marketing Lead people along the easy path to buying by providing them all the reasons why they should buy your products and services “I am the world’s worst salesman, therefore I must make it easy for people to buy.” - F.W. Woolworth WOMBAT Marketing This ease of decision making is what fuels great Word Of Mouth marketing It helps create an auto-response buying decision made based on a friend or expert recommendation WOMBAT Marketing Characteristics of WOM Independent and Credible (the person and the media) Personal experience with product is related from one person to another WOMBAT Marketing Characteristics of WOM The process becomes part of the product The recommendation is personalized and specific benefits are pointed out WOMBAT Marketing Characteristics of WOM It’s self-generating and grows exponentially – one person tells many, and so on Originates from a single source, or only a few sources WOMBAT Marketing Characteristics of WOM Can also be negative, but the negatives can turn into positives Inexpensive to get going and sustain WOMBAT Marketing How To Start WOM For You Exactly why should someone buy your product or service Who would be the most influential early adopters of your product? (cutting edge leaders, early adopters, middle of the road, late adopters, hey wait for me) WOMBAT Marketing How To Start WOM For You What are the Buying Bottlenecks that will need “busting”? Give people something to talk about – give them the words or story to tell (taken from the words of your marketplace – You Ask Them) WOMBAT Marketing How To Start WOM For You Create systems that make the process of people telling other people easy and “media independent” as possible Systematize the whole process so it can be managed and repeated WOMBAT Marketing Sources of WOM Expert to expert friends Expert to followers Followers to friends Friends to friends WOMBAT Marketing Memes?… What’s that about? The science that studies what kinds of ideas replicate through a society, by way of Word of Mouth “Virus of the Mind” by Richard Brodie WOMBAT Marketing Five Situations That Ignite WOM Crisis Mission Problem Danger Opportunity WOMBAT Marketing Just like the Six Psychological Triggers, the more of these five motivations you can use in your WOM story, the more people will be convinced to pass along your WOM message to others WOMBAT Marketing Six MORE Situations That Ignite WOM News Unique results, or activites Sex Secrets Helping others The unusual and weird WOMBAT Marketing Stimulating WOM Use Experts Advisor groups - Influential customers - Influential suppliers - Influential experts - Influential salespeople Expert roundtables Expert selling groups WOMBAT Marketing Stimulating WOM Seminars, Workshops, Speeches Speaker programs Group selling Dinner meetings Friend to friend selling groups Teleconference expert panels Trade show events WOMBAT Marketing Stimulating WOM “Hi Tech” Word of Mouth Recorded WOM recommendations Video tapes or video files Audio tapes or audio files Replay recording on website or podcasting, etc. CDs WOMBAT Marketing Stimulating WOM Referral Selling Programs Testimonials page Networking of experts, customers and prospects Affiliate marketing programs WOMBAT Marketing Stimulating WOM Instant Information Hotlines Tell a friend scripts Email autoresponders and Faxback services Web forums Call centers for more info WOMBAT Marketing Stimulating WOM Traditional Media Great customer service Public Relations Press Releases Events and Promotions WOMBAT Marketing Stimulating WOM Traditional Media Quote good WOM in your advertising and promotional materials Feature top salespeople to influence others to sell WOMBAT Marketing Stimulating WOM Traditional Media WOM incentive program for customers (ethically bribe them with bonuses to “tell a friend”) Giveaways to share with friends and customers (special reports, articles, etc.) WOMBAT Marketing Some Internet Examples Geocites eBay Instant Messaging Napster Share this with a friend Hotmail Winamp Tell a friend scripts) eGreeting Cards Joke sites Video sites WOMBAT Marketing What do they have in common? The basic idea captures the imagination Easy to try Immediacy – instant gratification Try at no risk Easy to refer people – one click and it’s done Built in referral mechanism WOMBAT Marketing What can you do? Watch for these strategies used by successful WOMBATers Build in WOMBAT ideas into your websites and blogs Use testimonials and endorsements from users and experts on your pages WOMBAT Marketing What can you do? Build your own optin email list of prospects and customers and tell them to forward your emails to them to their friends Be unusual, outrageous, out-spoken Get experts to endorse and promote your products (they like to be leaders) WOMBAT Marketing Buzzmarketing “Buzzmarketing captures the attention of consumers and the media to the point where talking about your brand or company becomes entertaining, fascinating, and newsworthy.” - Mark Hughes WOMBAT Marketing Six Secrets of Buzzmarketing 1 – Push the six buttons of Buzz the taboo (sex, lies, bathroom humor) the unusual the outrageous the hilarious the remarkable the secrets (both kept and revealed) WOMBAT Marketing Six Secrets of Buzzmarketing 2 – Capture Media - people don’t buy newspapers and magazines to read the ads - they read the news and articles - get your story in the news and articles - then your ads get read even better WOMBAT Marketing Six Secrets of Buzzmarketing 2 – Capture Media The five stories that get media attention: David and Goliath story Unusual or outrageous story Controversial story Celebrity story What’s already hot (piggy back story) WOMBAT Marketing Six Secrets of Buzzmarketing 3 – Advertise for Attention Advertise where you get the best results Don’t get lost in the clutter Sometimes less professional gets more atttention Use advertising to show your “buzz” WOMBAT Marketing Six Secrets of Buzzmarketing 4 – Climb Buzz Everest With little or no budget you must find something very unique to capture the imagination of the marketplace The Story of Rit Dye WOMBAT Marketing Six Secrets of Buzzmarketing 5 – Discover Creativity But in all things, be honest! WOMBAT Marketing Six Secrets of Buzzmarketing 5 – Discover Creativity 1 – Be courageous 2 – Define the problem, dump strategy 3 – Understand your customers 4 – Swing the bat often 5 – Initiate competition with suppliers 6 – Pay attention to names and words 7 – Create Content, not ads WOMBAT Marketing Six Secrets of Buzzmarketing 6 – Keep Product Quality High 1 – Bad buzz spreads faster than good buzz 2 – Great sustainable buzz will only happen with great quality products 3 – Make sure the people at the top stay in touch with product quality WOMBAT Marketing Six Secrets of Buzzmarketing 6 – Keep Product Quality High 4 – You Ask Them – ask your customers - how did you first hear about us? - would you go out of your way to recommend our product to a friend? 5 – Get your affiliates, salespeople, and employees talking too – give them something to talk about WOMBAT Marketing W – Word O – Of M – Mouth B – Buzz A – And T – Tell WOMBAT Marketing Presented by Mark Hendricks especially for the Internet Success System Live Master Mind Conference March 2006 © 2006 Mark Hendricks The End