Download - Evolution of a Social Media Dealer
Presented byAdam Boalt
evolution of asocial 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
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
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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rIt’s important to take ownership of that conversation.
Listen to your customers,before you engage inconversation
It’s important to take ownership of that conversation.ev
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Participate in thecommunity and don’tdirect the message
Building the rightSocial MediaStrategy.
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evol
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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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rSo why is the engagement at this level becoming sucha struggle for so many?
The amount of customers joining social networksis growing exponentially every day
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rSo why is the engagement at this level becoming sucha struggle for so many?
It’s veryhard to scale
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rSo why is the engagement at this level becoming sucha struggle for so many?
Real-time isn’t fast enough
So what needs tohappen in order tocreate a successfulSocial Media Strategy?
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evol
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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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rDefine the business value regardless of the entry point.
Walk up
Phone up
Web up
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Identify metricsand goals.
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rIdentify metrics and goals.
Social media doesn’t have tohave a direct ROI
Increase multipliers of othermarketing channels
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rIdentify metrics and goals.
Create Key Performance Indicators
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rSome Key Performance Indicators (KPI)
Increase response rate
Lower your cost per lead
Improve your cross selling
Improve up selling
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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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rUse Case #1: Monitoring
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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rUse Case #1: Monitoring
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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rUse Case #2: Geo-Location
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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rUse Case #3: CRM Mapping
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?