Conversational marketing – What can small business teach big business?

Ivan Croxford, General Manager, BT Tradespace

www.everywoman.co.uk }People are spending more and more online, but they last place they want to go is your web site

£20 billion was spent online last year - up 32% from the previous year - (Verdict Research 2009)

62% of shoppers consult online communities before making a purchase. Only 27% go direct to a retailer’s web site

1. communities offer me unbiased facts about products and services (32%);

2. I trust the views of communities more than merchants (27%);

3. communities help me find the best deal available (27%).(Quidco: June 2008)

Should we really be surprised? Take a lesson from small business

70% of UK SMEs rely on word of mouth as the primary form of lead generation

Only 3% use the Web as the primary means to contact their customers

(Source: BT Business research 2009).

So if the web’s gone social, has your online marketing and sales strategy?

17% of UK SMEs are using Twitter to send three million tweets a day ... c. 75% using Twitter to promote their businesses. 42% using it to stay in touch with customers and suppliers. 34% using Twitter to monitor their competitors. (source: O2)

Big business is catching up … Dell made $1M in sales

via Twitter pre Xmas

Online - What the Customer wants

A Voice!

To be understood

To be inspired

To be delighted

Respect

Talk (don’t advertise) to your customers

And make your business the subject of conversation

What’s www.bttradespace.com?

• 350,000+ businesses registered since May 07

• A place to find and get to know businesses

– Rich business profiles built on Web 2.0 tools

– Reviews

– Recommendations

• A place to network and talk to businesses and other customers

– Community discussions

– Ask questions

– Create and join events

• A place to buy and sell goods and services

– Marketplace and ecommerce

www.everywoman.co.uk }BT Tradespace – a tool for conversational marketing

Showcase and sell

Recommend

Be reviewed

Demonstrateexpertise

Make contact easy

Its pays to engage

• Activity = traffic- The most active Tradespacers get 10x the traffic of average users

• Rich and varied media engages customers

- Visitors spend longer on a Tradespace with video than one without (59% spend 5+ mins v 15% average)- The most viewed Tradespaces have at least 2 types of content

www.everywoman.co.uk }Thank you

Ivan.croxford@bt.com

http://www.bttradespace.com

http://twitter.com/bttradespace