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Posts Tagged ‘Mid America Truck Show’

Flipping the Funnel in the Trucking Industry

Monday, March 28th, 2011


We will be walking the floor this week at the Mid America Trucking Show, and I’m really interested to find out if trucking industry companies are allocating more of their marketing resources to social media.

Specifically, are they shifting marketing resources from one-way communications (i.e., advertising) to two-way communications (facilitated by social media) with their customers and potential customers?

 

According to McKinsey’s David Edelman in an insightful Harvard Business Review article, companies today are over-emphasizing  the “consider” and “buy” stages at the top of the purchase funnel, continuing to put the lion’s share of their marketing resources into building awareness through advertising.  What they are missing is how consumers today remain engaged with a brand after the purchase . . . talking about it (good or bad) via social media, participating in online forums, etc.  Thanks to Web 2.0 technologies, consumers are now sharing their opinions with people across the globe . . . instantaneously, reaching potentially thousands or millions of others.

 

Consumers today rely heavily on digital interactions to evaluate products.  Products drop in and out of their consideration set during this rigorous process.  And after the purchase, they remain engaged with the brand through social media.

 

Edelman says, “Marketing investments that help consumers navigate the evaluation process and then spread positive word of mouth about the brands they choose can be as important as building awareness and purchase.”

 

Why?  According to McKinsey, two-thirds of the economy is now based on recommendations . . . not the funniest TV ad . . . nor the most eye-catching billboard.  According to Nielson, only 14 percent of people trust ads, while 76 percent trust others’ recommendations.  People in the trucking industry have always placed a heavy emphasis on word-of-mouth.  After all, if you’re making a six figure investment in a tractor, you want to hear the opinions of your peers.

 

Still, though, many marketers focus on media spend (typically 80 – 90 percent of their budget) that hits consumers at the “consider” and “buy” stages all while consumers are increasingly influenced during the evaluation stage and what Edelman calls the “enjoy-advocate-bond” stages.

 

What to do?  First, carefully analyze all the touch points for your target consumers and which channels are most influencing their decisions.  Go beyond analyzing paid media; also think about “earned” media such as online communities, blogs and product review websites.

 

Then, shift some of your budget to funding the people and technology required to create and manage content for a plethora of online channels.  We’re talking two-way communications here; time consuming yes, but so worth it.

I’ll report back next week on what I find.  In the meantime, enjoy the show!  Don’t forget to follow  http://twitter.com/truckingshow and the #mats hashtag on Twitter.  Give us a follow as well. http://twitter.com/JTMarCom

 

 

 

 

 

Mid-America Trucking Show Got Social Last Week

Wednesday, March 31st, 2010

Of the different segments that make up the U.S. trucking industry, which ones are more rapidly embracing social media?  Some insights were revealed at last week’s Mid-America Trucking Show in Louisville.

First, an interesting record was achieved at MATS – the largest ever gathering of women owner-operators in one place at one time.  Twitter played an instrumental role in getting the word out before and during the show.  This leads us to insight #1 – there is a solid base of owner-operators and drivers using Twitter and Facebook, and this will only grow through word-of-mouth.  These two social media platforms provide a great way for truckers to stay in touch with their families and with each other.

As is common these days at conferences and trade shows, a Twitter hashtag was set up for MATS and provided a great way for Twitterers to share information, make connections, etc., at the show – not to mention Twitterers interested in MATS but unable to attend this year.

Insight #2 is that a growing number of manufacturers are increasing using social media as an extension of their marketing programs.  Companies such as Michelin, Cummins and Arvin-Meritor Tweeted about their products and events at MATS.  Look for manufacturers to continue using social media to get the word out but also to begin capitalizing on the true value of social media – creating conversations with customers and potential customers and energizing an army of brand advocates.  Check out Peterbilt’s Facebook Fan Page.

Finally, fleet professionals are increasingly using LinkedIn and Facebook but have been slow adopters of Twitter.  Adam Ledlow — http://twitter.com/AdamLedlow — of Truck News magazine had an interesting insight – with more and more drivers using social media, fleets should be employing it to snag qualified drivers.  What a great recruitment tool!