CVAMA Digital Marketing Summit - Strategic Planning

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Jason Falls's presentation from the Central Virginia American Marketing Association Digital Marketing Summit - 4/14/10

Jason Falls's presentation from the Central Virginia American Marketing Association Digital Marketing Summit - 4/14/10

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  • These folks are studs.
  • This is what we’ll do today. Planning Process Do some work examples
  • This is what we’ll do today. Planning Process Do some work examples
  • People grew tired of 5K+ marketing messages per day Same time – Internet barrier to entry dropped (Blogger.com, Classmates, etc.) People discovered like-minded people to share recommendations and referrals.
  • Online communities offered pockets of interest areas that served as common threads. People connected with like-minded people PEOPLE connected with PEOPLE
  • PEOPLE CAN’T TALK TO BUILDINGS, COMPANIES, LOGOS MUST TALK TO PEOPLE Consumers Come First All About Relationships Build Trust Through Honesty Give To Get Messages, Campaigns = FAIL Sell Last
  • I’ve Got News For You Conversations don’t ring the cash register Engagement doesn’t sell more stuff Gather in a circle and love everyone if you want, but that doesn’t ….
  • Move The Needle Your company, boss, organization is a business Businesses success is judged on one thing. How much stuff you sell! Social media marketing has to move the needle?
  • Eric Brown – Urbane Apartments Stopped traditional advertising in 2004. Switched to Paid Search. Started blogging in 2008. Turned blog over to residents and made it about the community around apartments, not the apartments. BUT TRACKED IT, MEASURED IT and proved it was working.
  • Recent conference call with a client of mine, his exact words were:
  • Business.com report: Social Media Marketing Best Practices: Question and Answer Forums Revenue – 42%; Web traffic – 61%; Prospect lead volume – 36%; lead quality 33% Engagement entries are interesting (prospects 57%; customers 50%) – Is this what the purists have been telling them, or do businesses really care about this?
  • Bazaarvoice – “CMOs Plan For Higher Social Media Measurability in 2010” By Sam Decker – CMO Bazaarvoice What’s the ROI of Social Media? “ DON’T KNOW!” Don’t know and “no” account for 45-60% of the answers in all except ratings and reviews.
  • Bazaarvoice – “CMOs Plan For Higher Social Media Measurability in 2010” By Sam Decker – CMO Bazaarvoice What’s the ROI of Social Media? “ DON’T KNOW!” Don’t know and “no” account for 45-60% of the answers in all except ratings and reviews.
  • They’re not moving the needle. Remember --- This is a business.
  • Determining where you are, where you want to go and how you’re going to get there. Establishing goals, objectives, strategies and tactics, ladder up to accomplish. Answer “What do we do?” “For whom do we do it?” & “How do we excel?”
  • “ A strategic planning process delivers a set of defined initiatives (projects) that achieve a desired set of business goals.” - Dennis McDonald,
  • Shooting in the dark. I want a blog! I want a Facebook page! (WHY!) Don’t know where you’re going, how do you know when you get there?
  • If you had marketing classes in college or business classes that talked about strategic planning, this shouldn’t be foreign to you. In my opinion this is simple thought process and planning. It’s just done through the filter of social media.
  • You can have two goals, but don’t put them together. Build each separately to ensure focus on each. These are some examples of social media goals.
  • Objectives are where we hold ourselves accountable. Put milestones in them that give you something to measure yourself against. Keep in mind that benchmarks are not pass/fail milestones. They’re arrows on a map. OUTPUTS To create weekly content for Facebook fan page and increase page activity by 20% within six months To create a Twitter account for e-commerce special announcements for interested followers and realize $5,000 in sales by June 30. To create an email newsletter for brand advocates and grow the list to 10,000 names by end of year. OUTTAKES To increase positive sentiment in brand mentions on influencer blogs by 25% within six months. To increase inbound links to blog from traditional media websites by 25 by June 1. To achieve 1000 mentions of event promotions on Twitter each month OUTCOMES To increase online sales of company reports by 15% within three months To decrease internal email messages by 30% by April 15 To decrease inbound call center calls by 10% in January
  • Strategies should be such that you must develop a list of things to do in order to accomplish them. (Tasks/Tactics)
  • Strategies should be such that you must develop a list of things to do in order to accomplish them. (Tasks/Tactics)
  • Outcome - Sales, downloads, requests, responses Know that not reaching the stated expectation is not failure but your result.
  • Four Fatal Flaws of Strategic Planning (March 2009) Skipping - Good process takes advantage of constant analysis tools ... web metrics, consumer insights, traffic, conversions ... point the ship, but don’t forget to steer. Believing - One off-site retreat does not a strategy make. Plan lead up meetings, prep talks, share research and always incorporate new insights into thinking. Time is your friend. Failing - Writing a plan is the first step. Following through on that plan is a requirement, too. Plan is your checklist. Don’t get side-tracked by new tools, trends. Incorporate where appropriate but follow your plan. Dodging - With no activity in place to keep plans alive and milestones top of mind, plans become obsolete. Part of your plan should be an executional calendar with checkpoints along the way. THESE MEETINGS ARE MORE IMPORTANT than any others because they help you stay the course.
  • Your social media plan is not going to deviate from your business plan or marketing plan much. But it will be consumer-centric rather than product centric. You’re not capturing sales leads or moving units … you’re earning trust and growing your network of friends. MAKER’S MARK “FRIEND” STORY
  • Example – Craft Beer – 25-40 year old male. Health and fitness important, not about getting drunk. Likes time with the guys. Dating and connecting. Beer recipe/food matches; Guy-bonding apps/Fantasy sports/event support/tailgating; Location based app to connect with friends while out and about.
  • It’s not just knowing the brand It’s not just knowing the consumer It’s not just knowing the tools and platforms available It’s not just knowing how people interact on them. It’s all together
  • This is what you should already have. It’s not something I can give you.
  • Market research has always been very expensive. But there are alternatives.
  • How do you get this knowledge?
  • How do you get good at the tools?
  • Keep in mind that no one person can know them all. No staff of 10 can probably know them all. But if you build a general understanding of how applications work, how users interact with online tools, you’ll be a quick read on the rest.
  • It’s not just knowing the brand It’s not just knowing the consumer It’s not just knowing the tools and platforms available It’s not just knowing how people interact on them. It’s all together
  • So how do we move the needle?
  • Chris Baggott, Debbie Weil, Jay Baer and me for Compendium Blogware Winter 2009 survey of corporate blog analytics 264 total companies 204 B2C 78 B2B 8 Non-profit 4 government 4 other 49 companies less than 25 people 12 500+ 11 76-150 7 26-75 6 – 151-250 2 – 251-500 No distinction across size or vertical 168 report 81% or more traffic from 1 st time visitors (63.4%) 226 report 61% or more traffic from 1 st time visitors (85.6%)
  • Couple of insights – Check your website’s first time visitors. Your audience might not be who you think they are.
  • Wiggly Wigglers regularly presents calls to action that lead to their ecommerce portal. Town of less than 80 people – 105,000 worldwide customers. Much higher return rates than catalogs and direct mail pieces.
  • Indiana Spine Group – Calls to action all over … content helpful … one client can mean thousands of dollars to them. Convert 5-6 a year and you’ve paid for it in multiples.
  • Dell Outlet – NOW 6.5 MILLION IN SALES! WTF?
  • Naked Pizza interacts, but also sells. Has sustained a 20 percent sales level derived directly from Twitter.
  • Dollar General – Third quarter sales jumped 13 percent (Overall sales … many factors.)
  • Branding, Awareness, Impressions Traffic, Time on site, Comments, Interactions, ReTweets Friends, Followers Email subscribers, RSS subscribers Also know that social media can save you money. It can also add to customer retention … many purposes.
  • About Engagement Some think of it as giving (purists view and not wrong). But if you ask, “Did you get something from your audience that can make your business better?” and can answer yes, you can make a case even if you didn’t move the money needle
  • The philosophical approach preached by the purists is necessary to PROVE you are GENUINE and have the right INTENT.
  • But don’t just be a hippie … this is a business. Plan. Measure. Prove!
  • Strategic planning 101 Goals – Objectives – Strategies – Tactics Increase online sales – Drive $5,000 of online sales from Facebook calls to action by Dec. 31, 2010 Develop buy one-get one for a friend app to give Facebook fan base purchase and share opportunity Hire developer, solicit feedback from Fan base on purchase application, promote application, etc.

Transcript

  • 1. Digital Marketing Summit Strategic Planning | Inbound Marketing Integrating With Traditional | E-Mail Marketing Measuring Success | Listening & Monitoring The Social Web
    • Central Virginia American Marketing Association
    • April 14, 2010
    • Staunton, Va.
  • 2.
    • Jason Falls
    • Kipp Bodnar
    • Doug Meacham
    • Greg Cangialosi
    • Dean Holmes
    • Katie Morse
    The Experience
  • 3.
    • Social Media Philosophy & Strategic Planning
    • Inbound Marketing: Draw Customers In
    • Integrating Social & Traditional Marketing
    • E-Mail Marketing: Your Digital Glue
    • Measuring Social Media Success
    • Listenting & Monitoring on the Social Web
    Today’s Agenda
  • 4.
    • Know how to:
      • Determine what channels to use
      • Integrate social with traditional
      • Draw customers to you with social strategies
      • Use e-mail marketing to connect your social efforts
      • Measure success and progress
    Takeaways
  • 5. Social Media
  • 6. What Happened?
  • 7. Image: Jozef Sedmak on Shutterstock.com Social Media Philosophy
  • 8.
    • Conversations Don’t Ring The Cash Register
    • Engagement Alone Doesn’t Sell More Stuff
    • Hold Hands, Sing “Kumbaya” All You Want, It Doesn’t …
    Photo: Courtesy SXCH.hu
  • 9. Image: Luminus on Shutterstock.com
  • 10.
    • Eric Brown Urbane Apartments
    • “ Did we rent more apartments?”
    “ Because if we didn’t, the practice of social media marketing is just a hobby .”
  • 11.
    • A recent conference call with a client talking about social media strategy
    The end game for me is, did we sell more stuff?
  • 12.  
  • 13.
    • Bazaarvoice CMOs Group Survey
    • What’s The ROI of Social Media?
  • 14.
    • Survey across industries
    • 72% Didn’t attach revenue in 2009 but will in 2010
    • 81% plan to link annual revenues to social media
    • 85% predict a 5-15% impact on their bottom line this year
    • 64% will increase social media budgets
    • Fastest growing metrics tracked: REVENUE, CONVERSION, AVERAGE ORDER VALUE
  • 15. Image: Luminus on Shutterstock.com
  • 16. Defining Strategic Planning Image: Dieaugenweide on Shutterstock.com
  • 17.
    • “ A strategic planning process delivers a set of defined initiatives (projects) that achieve a desired set of business goals.”
    • - Dennis McDonald, Technology Expert
    Defining Strategic Planning
  • 18. Without Planning Image: Helder Almeida on Shutterstock.com
  • 19. What Is A Plan?
    • Clearly Defined Goals
    • Measurable Objectives For Each Goal
    • Strategies To Meet Objectives
    • Tactics/Tasks To Accomplish Strategies
  • 20. Goals
    • Must Be Singular
    • Can Be More Than One
      • To increase website traffic
      • To increase online sales
      • To decrease negative online sentiment
      • To capture consumer insight
      • To improve search results
  • 21. Objectives MUST
    • Be Measurable & Specific
    • Must Point To One Of Three Things:
      • Outputs (Content, Products)
      • Out Takes (Information, Entertainment)
      • Outcomes (Changes In Metrics)
    • Indicate A Target Audience
    • List An Expected Level of Attainment
    • Identify A Deadline Or Timeframe
    • - Beth Harte, Marketing Profs
  • 22. Strategy Supports Objectives
    • OBJECTIVE
    • To create weekly content for Facebook fan page and increase page activity by 20% within six months
    • STRATEGIES
    • Design expert interview series for video content
    • Implement fan-generated photo challenge
    • Develop question of the week program
  • 23. Strategy Supports Objectives
    • OBJECTIVE
    • To decrease internal email messages by 30% by April 15
    • STRATEGIES
    • Employ Yammer account for internal company messsages
    • Establish company SharePoint page for in/out board
    • Implement Google Docs for file sharing
  • 24. Tactics Tasks Tools
    • Sign up for Co-Tweet
    • Establish accounts for company, assign marketing team access to account
    • Set up Radian6 with keyword searches and staff contacts for workflow
    • Train staff on use of Co-Tweet
    • Develop negative response work flow
  • 25. What NOT To Do
    • Four Fatal Flaws of Strategic Planning
    • Skipping Rigorous Analysis
    • Believing Strategy Can Be Built In A Day
    • Failing To Link Planning With Execution
    • Dodging Strategy Review Meetings
    • - Ed Barrows - Harvard Business Publishing
  • 26. Where Does It Fit?
    • Overall Marketing Strategy Is Your Guide
    • Filter That Through Social Media Philosophy
    • Find Social Insight For Consumer
    • Build Strategies Around Fulfilling That Need Or Purpose
    Image: Luis Francisco Cordero on Shutterstock.com
  • 27. Putting Theory Into Practice
    • Best Strategic Plans Are Based On Research
    • Instead Of Looking For Consumer Insight, Look For Social Insight
    • What does consumer share?
    • What social need can we meet?
    • What gives him/her social standing?
    • Correctly Identified, Can Drive Whole Strategy
  • 28. Social Media Strategic Planning
  • 29. Brand Intelligence Image: dendong on Shutterstock.com
  • 30. Consumer Insights
    • Pew Internet & American Life Project
    • Forrester Research ($$)
    • eMarketer.com ($$)
    • Compete, Quantcast ($)
    • Traditional Companies (Nielsen, etc.)
    • Social Media Tools & Companies
    • Ask your customers
    Image: Rudyanto Wijayai on Shutterstock.com
  • 31. Community Behavior
    • Participate On Social Networks
    • Study Case Studies & Examples
    • Trial & Error
    • Ask
    Image: Courtesy of sxch.hu
  • 32. Tools & Platforms
    • Use The Popular Tools
    • Read Industry Blogs
    • Play
  • 33. Tools & Platforms
  • 34. Social Media Strategic Planning
  • 35. Image: Luminus on Shutterstock.com
  • 36.
    • Compendium Blogware Corporate Blogging Study – Dec. 2009
  • 37.
    • People still respond to advertising
    • “ People” aren’t social media purists
    • Your customers and fans know you need to make money
    • “ Remember - it’s not about selling, but helping people buy.” – Chris Heuer
  • 38.
    • Wiggly Wigglers
  • 39.
    • Indiana Spine Group
    • Corporate Blog
    • Direct Calls To Action As Part Of Site
  • 40.
    • Dell Outlet
  • 41.
    • Naked Pizza
  • 42.
    • Dollar General
    • Blatant Advertising
    • 31,000+ Fans
    • Three recent posts:
    • 93 Likes 48 Comments
  • 43. Image: Michael Heiber on Shutterstock.com
  • 44. Image: Courtesy SXCH.hu Did you give something to your audience that enhances their life or online experience? Did you get something from your audience that can make your business better?
  • 45.
    • Be Consumer-Centric
    • Participate
    • Provide Value
    • Build Relationships & Trust
  • 46.
    • Plan for success
    • Present clear calls to action
    • Offer opportunities at relevant times/locations
    • Know that value can also be your product or service
  • 47.
    • Establish Singular Goals
    • Set Measureable Objectives To Achieve Goals
    • Develop Targeted Strategies To Accomplish Objectives
    • Enumerate Tactics/Tasks To Deliver Strategies
  • 48. Thank You! Jason Falls Principal Social Media Explorer Email: [email_address] Twitter: @JasonFalls Phone: 502.509.4763 Web: socialmediaexplorer.com Newsletter: socialmediaexplorer.com/newsletter Coming Soon ExploringSocialMedia.com