027 - Word of Mouth 2.0 = “Digital Word of Mouth”
1* Use these four R’s of buyer’s trust to 10x your #ABM program
Referrals | Retention | Reputation | Relationships
Referrals
“The good news is that 83% of the customers are open to providing a referral... if you know WHEN and HOW to ask for it.”
Key Actions - connect with accounts your customers are connected to and use this as an opportunity to request an introduction. (Bonus) - Make your connection and request as easy as possible for your existing customer.
Retention
ABM is not simply acquiring new customers, it’s also upselling to existing accounts.
Key Actions - Share case studies from other clients to the buying committee. The buying committee isn’t just your main ICP. Think of finance, junior members of the team, the really senior people of the organisation. Create content for and distribute to the entire buying committee
Use this formula to drive awareness and demand with target buyers:
Reputation
EXPERTISE × CREDIBILITY × VISIBILITY × CONSISTENCY
Relationships
Strategically networking on the platforms your customers hang out (most likely LinkedIn). And turn engagements into meaningful conversions. Respond to conversations with genuine intent to provide value and engagement.
2* Word of Mouth 2.0 = “Digital Word of Mouth”
Peers and colleague recommendations are one of the biggest influencers in helping inform a buying decision, reassuring a buyer when they are ready to buy, or discovering a new brand.
Brands want a WOM of strategy, but how are you considering digital word of mouth?
George Macks put in, “you have to think of the group chat first.”
He adds that instead of trying to make it spread within group chats, you need to first understand what is spreading in these communities already.
I would add that the need to religiously understand your buyer to create content that is worthy of sharing. This insight can be gathered in many ways but simply asking them helps. Next time you speak to your customer, ask them what the last 3 pieces of content they shared were, and why.
Why is Digital WOM important? Speed & Conversion.
Physical WOM consists of that, seeing people in events, within the office, and out and about. These occurrences are not as frequent as in the digital world. You can reach someone in seconds on a group chat, where events are likely to be every few months.
When you share your message in person, it’s usually to one person. When you share it in chats’ it’s often to a much bigger audience.
3* Steal this 3-step framework to transition from lead gen to demand gen
Mindset | Metrics | Execution
This is an actionable framework that enables you to shift go-to-market strategy.
Key Actions
Mindset - this is huge, before you start. You and your team really need to understand the value of the leads you're driving right now from your “lead gen” campaigns, and cross reference to how your buyers are buying today.
How many of your buyers are converting from your lead gen campaigns?
How much time does your sales team spend chasing these accounts?
How much budget and time goes into creating these campaigns?
What’s the business ROI from the investment above, plus ad spend?
Once you carry out this self-assessment, you’ll truly understand the value of your lead gen campaigns.
Metrics - your marketing needs to influence revenue and your measurement framework needs to consist of a series of metrics that indicate business impact / revenue.
Execution - ensure you and your team have a healthy obsession with your buyer and construct a demand strategy around how they buy.
For example.
Distribute content in the channels they consume
Make it easy to consume that content
Create content based on insight, not what you think
Be present in channels and places they hang out
Conversations / Articles You Should Read
3 types of content to use while prospecting
Tools, Platform, Events or Podcasts
Each week I share a tool I find interesting, an event I’m attending or a podcast I have listed too.
MetaData. I have been following this brand for a little while. Not only is it a fantastic product, but it’s also a business that creates great content.
Metadata allows you to aggregate all your paid media channels into one channel, but it has been designed specifically for B2B brands.
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