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Seven Strategies to Surviving the Downturn A Compendium to 11.21.08 Fuel for Thought Series www.SigmaGroup.com
Geoff Ramsey’s Digital Marketing Now:  Seven Strategies to Surviving the Downturn is available as download at:  http://www...
It’s ugly out there… Image: http://www.flickr.com/photos/21313845@N04/
<ul><li>53%  of U.S. marketers expect  reduced  ad  budget  over the next 6 months  (ANA) </li></ul>Image: http://www.flic...
<ul><li>31%  say they’ve  already   cut  back  (Oct ‘08 MarketingProfss) </li></ul>Image: http://www.flickr.com/photos/284...
<ul><li>85% will  cut   their traditional  media   budget  in 2009   (MarketingProfs) </li></ul>Image: http://www.flickr.c...
Signs of growth in… Image: http://www.flickr.com/photos/21313845@N04/
projected to  grow  by  8.9%  in 2009 (eMarketer ) U.S.  online ad  spending Image: http://www.flickr.com/photos/28481088@...
Over  70%  of global marketing executives today  believe  online will determine  how  major campaigns are  planned  and  e...
Why  online  will weather the downturn  better   than other advertising  options ?
<ul><li>Greater measurability, accountability and less expensive than traditional channels </li></ul>More granular targeti...
The Internet is interactive, allowing higher degrees of engagement with consumers  Paying close attention to online conver...
What are those 7 strategies?
Source:  http://www.emarketer.com/7strategies.aspx Get with the Accountability Program Strategy 1 Image: http://www.flickr...
Source:  http://www.emarketer.com/7strategies.aspx Now is the time  to step up efforts to quantify and measure the value o...
Measure online branding efforts – Intergrating with search to get a more complete assessment Break down silos – search/dis...
Keep Doing Search Strategy Image  http://www.flickr.com/photos/lwr/2407848183/ Source:  http://www.emarketer.com/7strategi...
It’s a necessity for marketers in a depressed economy as consumers welcome search ads, rather than view them as interrupti...
Search provides a highly measurable ROI Image: http://www.flickr.com/photos/28481088@N00/ Source:  http://www.emarketer.co...
Search garners click-throught rates that exceed all other forms of online advertising Image:  http://www.flickr.com/photos...
Search offers the potential for immediate online sales as well as for offline sales at a later time Image:  http://www.fli...
3 Anti-Search Strategy Image: http://www.flickr.com/photos/bip/ Source:  http://www.emarketer.com/7strategies.aspx
Don’t ignore the power of branding online… brand advertising creates the intent, and search helps you resolve the purchase...
<ul><li>Atlas found a 22% lift in conversion rate when display ads were combined with search </li></ul>Image: http://www.f...
For retailers with an online and offline channel, 68% of the impact of display ads was found in the offline sales channel ...
My expectation is we’ll see a lot more shopping around, a lot more research [because of the recession], so there is an opp...
In the increasingly advertising-filled online environment, you know that you’re often exposed to more than one message fro...
The Web is the best platform for getting consumers from awareness to transaction the world has ever seen, yet few advertis...
<ul><li>Measure and integrate metrics </li></ul><ul><li>Use display/branding ads to drive online shopping </li></ul><ul><l...
Stay Close to Customers Strategy Image: http://www.flickr.com/photos/28481088@N00/ Source:  http://www.emarketer.com/7stra...
When times are tough, marketers should make every attempt to stay close to their core customers. With nearly 70% of all ad...
Two things to consider…  Source:  http://www.emarketer.com/7strategies.aspx
Email Still a great medium for   staying   in  touch .  Keep email campaigns   targeted   and   personalized   as a means ...
Social Media Where consumer   conversations  are taking place – on blogs, consumer review sites, social portal sites and r...
Use blogs, social media and tools to   Look,   Listen ,   Lounge   and  Learn Image: http://www.flickr.com/photos/28481088...
Notice what words and language consumers use and how they interact, influence and pass along information. Listen how consu...
Observe if there are real or perceived problems relating to your product or customer service.  Unleash the wisdom of the c...
Best practices for using Social Media…
Join  in the conversation. But make sure you pick the  right community  and that you are adding  real value Image: http://...
Keep  brand fans  happy.  Focus   on your brand  enthusiasts   and let them  “share the love”  with others Image: http://w...
Tap  into coveted  influentials Image: http://www.flickr.com/photos/28481088@N00/ Source:  http://www.emarketer.com/7strat...
Engender Trust Strategy Image: http://www.flickr.com/photos/bip/ Source:  http://www.emarketer.com/7strategies.aspx
Trust is the currency of brands, and it has never been harder to create or hold on to .  Geoff Ramsey, eMarketer ” “ Image...
Image: http://www.flickr.com/photos/bip/ Source:  http://www.emarketer.com/7strategies.aspx
How do you engender trust with consumers?  Image:  http://www.flickr.com/photos/chichacha/ Source:  http://www.emarketer.c...
Realize consumers  trust each other  more than they trust you. Image: http://www.flickr.com/photos/bip/ Source:  http://ww...
Don’t go dark on them –  continue  to  market  and  advertise . Image:  http://www.flickr.com/photos/78124746@N00/ Source:...
Make your  product  and  customer  service  as  good   as can be.  Image:  http://www.flickr.com/photos/thomashawk/ Source...
Emphasize  listening  over loud speaking. Image:  http://www.flickr.com/photos/santos/ Source:  http://www.emarketer.com/7...
Transparency = Trust Adapt  messages  to be more  real  – less marketing talk  Image: http://www.flickr.com/photos/2848108...
Engage Prospects and Customers via Video Strategy Image:  http://www.flickr.com/photos/loewenhertz/103955516/ Source:  htt...
Average consumer recall of an un-skippable ad online is 50%, versus 18% for a similar ad on broadcast television.  Magid A...
In 2008, 80% of Internet users viewed online video (equates to 154 million)  Image: http://www.flickr.com/photos/bip/ Sour...
Image: http://www.flickr.com/photos/bip/ Source:  http://www.emarketer.com/7strategies.aspx Projected to increase to 167.5...
Image:  http://www.flickr.com/photos/crosslens/ Source:  http://www.emarketer.com/7strategies.aspx
Image: http://www.flickr.com/photos/28481088@N00/ Source:  http://www.emarketer.com/7strategies.aspx
Two  basic  strategies  for  engaging  with  online video … Image: http://www.flickr.com/photos/bip/ Source:  http://www.e...
Place video footage of your products on your Web site to provide a more visual experience (i.e., demo) Image:  http://www....
Place video “ads” on video content sites, such as YouTube, Hulu, or better yet, smaller niche sites addressing your target...
Strategy 7 :  Test  Test  Test Image:  http://www.flickr.com/photos/philmclean/81540329/ Source:  http://www.emarketer.com...
It’s  tough  out there, but  now  is really a  terrific time  to  experiment.   Image:  http://www.flickr.com/photos/ebola...
Not on wacky, unproven tactics…  but on  practical ,  data-supported  success  strategies  that marketers are already depl...
There is simply  no excuse  today  not to  be  experimenting constantly, relentlessly with  digital media  and  applicatio...
Marketers  can read all the research in the world, but if they don’t  try  a tactic themselves… they will never know if it...
The opportunities are limited only by creativity and imagination. –  Geoff Ramsey Image:  http://www.flickr.com/photos/luc...
Want more info? Contact: [email_address] Or Visit: http://www.sigmagroup.com
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Fuel for Thought: Seven Strategies to Surviving the Downturn

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The power and versatility of today’s online capabilities provide numerous new ways for marketers to tackle the economic downturn, diminishing budgets and changes in consumer habits that are happening everywhere. Many companies/brands have already cut back on their marketing/advertising efforts, while others are taking this moment to reassess, reinvent and revitalize their brands/companies.
I’m a firm believer that challenges open doors to opportunities, and opportunities bring innovation with possibilities to further advance and emerge as a leader -- as many brands did during the Great Depression.

As eMarketer CEO/co-founder Geoff Ramsey puts it, “Consumers are still consuming.” They are still out there, looking for deals and recommendations to make product choices. They are relying on all available resources to find what is right for them. For marketers, the good news is there are more options than ever to make a connection with customers. Our goal at Fuel for Thought is to share these strategies and fuel ideas that will deliver growth and innovation for businesses.

Published in: Business, Technology

Transcript of "Fuel for Thought: Seven Strategies to Surviving the Downturn"

  1. 1. Seven Strategies to Surviving the Downturn A Compendium to 11.21.08 Fuel for Thought Series www.SigmaGroup.com
  2. 2. Geoff Ramsey’s Digital Marketing Now: Seven Strategies to Surviving the Downturn is available as download at: http://www.emarketer.com/7strategies.aspx
  3. 3. It’s ugly out there… Image: http://www.flickr.com/photos/21313845@N04/
  4. 4. <ul><li>53% of U.S. marketers expect reduced ad budget over the next 6 months (ANA) </li></ul>Image: http://www.flickr.com/photos/paperpariah/sets/72157604555040504/ Source: http://www.emarketer.com/7strategies.aspx
  5. 5. <ul><li>31% say they’ve already cut back (Oct ‘08 MarketingProfss) </li></ul>Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  6. 6. <ul><li>85% will cut their traditional media budget in 2009 (MarketingProfs) </li></ul>Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  7. 7. Signs of growth in… Image: http://www.flickr.com/photos/21313845@N04/
  8. 8. projected to grow by 8.9% in 2009 (eMarketer ) U.S. online ad spending Image: http://www.flickr.com/photos/28481088@N00/
  9. 9. Over 70% of global marketing executives today believe online will determine how major campaigns are planned and executed (ANA Survey ) Image: http://www.flickr.com/photos/visualpanic/ Source: http://www.emarketer.com/7strategies.aspx
  10. 10. Why online will weather the downturn better than other advertising options ?
  11. 11. <ul><li>Greater measurability, accountability and less expensive than traditional channels </li></ul>More granular targeting and access to consumers at all stages of the buying cycle Image: http://www.flickr.com/photos/28481088@N00/
  12. 12. The Internet is interactive, allowing higher degrees of engagement with consumers Paying close attention to online conversations gives marketers insights into consumer behavior, desires, feelings, problem issues, etc. Image:: http://www.flickr.com/photos/joeshlabotnik/305410323/sizes/l/ Source: http://www.emarketer.com/7strategies.aspx
  13. 13. What are those 7 strategies?
  14. 14. Source: http://www.emarketer.com/7strategies.aspx Get with the Accountability Program Strategy 1 Image: http://www.flickr.com/photos/ebolasmallpox/
  15. 15. Source: http://www.emarketer.com/7strategies.aspx Now is the time to step up efforts to quantify and measure the value of marketing programs Geoff Ramsey, eMarketer “ ” Image: http://www.flickr.com/photos/ebolasmallpox/
  16. 16. Measure online branding efforts – Intergrating with search to get a more complete assessment Break down silos – search/display ads, online/offline media and channels Build a sales impact model to better assess how online messages convert shoppers into buyers, both online and in stores Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  17. 17. Keep Doing Search Strategy Image http://www.flickr.com/photos/lwr/2407848183/ Source: http://www.emarketer.com/7strategies.aspx
  18. 18. It’s a necessity for marketers in a depressed economy as consumers welcome search ads, rather than view them as interruption or disruption. Geoff Ramsey, eMarketer “ ” Source: http://www.emarketer.com/7strategies.aspx
  19. 19. Search provides a highly measurable ROI Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  20. 20. Search garners click-throught rates that exceed all other forms of online advertising Image: http://www.flickr.com/photos/28481088@N00/2094624041/in/photostream/ Source: http://www.emarketer.com/7strategies.aspx
  21. 21. Search offers the potential for immediate online sales as well as for offline sales at a later time Image: http://www.flickr.com/photos/28481088@N00/2096361609/ Source: http://www.emarketer.com/7strategies.aspx
  22. 22. 3 Anti-Search Strategy Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  23. 23. Don’t ignore the power of branding online… brand advertising creates the intent, and search helps you resolve the purchase . Geoff Ramsey, eMarketer “ ” Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  24. 24. <ul><li>Atlas found a 22% lift in conversion rate when display ads were combined with search </li></ul>Image: http://www.flickr.com/photos/gaetanlee/ Source: http://www.emarketer.com/7strategies.aspx
  25. 25. For retailers with an online and offline channel, 68% of the impact of display ads was found in the offline sales channel Image: http://www.flickr.com/photos/paperpariah/sets/72157604555040504/ Source: http://www.emarketer.com/7strategies.aspx
  26. 26. My expectation is we’ll see a lot more shopping around, a lot more research [because of the recession], so there is an opportunity there to reach people where they are doing their research online…Brand advertising and display advertising create the intent, and search helps you resolve the purchase. Hal Varian, chief economist, Google, TravelThink Conference, October 8, 2008 “ ” Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  27. 27. In the increasingly advertising-filled online environment, you know that you’re often exposed to more than one message from a marketer before you buy. You see a display ad one day, a video ad the next day, and maybe the day after that you search for the product and purchase. If the search ad is the only one getting the credit for the conversion, the marketer isn’t getting the full story. Esco Strong, analyst, Atlas Institute,“Where Can You Find Your Customer?,” Microsoft, 2007 “ ” Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  28. 28. The Web is the best platform for getting consumers from awareness to transaction the world has ever seen, yet few advertisers leverage the Web as a transaction platform. David Koretz, MediaPost’s Online Publishing Insider, October 16, 2008 “ ” Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  29. 29. <ul><li>Measure and integrate metrics </li></ul><ul><li>Use display/branding ads to drive online shopping </li></ul><ul><li>Focus on value messages </li></ul><ul><li>Consider good old-fashioned site sponsorships – they can be effective and efficient if placed on the right content sites and precisely targeted to reach your prospects. </li></ul>to Image: http://www.flickr.com/photos/chichacha/ Source: http://www.emarketer.com/7strategies.aspx
  30. 30. Stay Close to Customers Strategy Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  31. 31. When times are tough, marketers should make every attempt to stay close to their core customers. With nearly 70% of all adults online, the Internet has reached the threshold of becoming a mass medium . Geoff Ramsey, eMarketer “ ” Source: http://www.emarketer.com/7strategies.aspx
  32. 32. Two things to consider… Source: http://www.emarketer.com/7strategies.aspx
  33. 33. Email Still a great medium for staying in touch . Keep email campaigns targeted and personalized as a means to staying close to customers. Image: http://www.flickr.com/photos/dcjohn/8474890/ Source: http://www.emarketer.com/7strategies.aspx
  34. 34. Social Media Where consumer conversations are taking place – on blogs, consumer review sites, social portal sites and real-time conversational applications Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx Image: http://www.flickr.com/photos/luc/ Source: http://www.emarketer.com/7strategies.aspx
  35. 35. Use blogs, social media and tools to Look, Listen , Lounge and Learn Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx Image: http://www.flickr.com/photos/eusoudaniel/2344561300/ Source: http://www.emarketer.com/7strategies.aspx
  36. 36. Notice what words and language consumers use and how they interact, influence and pass along information. Listen how consumers talk about your product/service category. Image: http://www.flickr.com/photos/sookie/ Source: http://www.emarketer.com/7strategies.aspx
  37. 37. Observe if there are real or perceived problems relating to your product or customer service. Unleash the wisdom of the consumer by incorporating it into your initiative. Image: http://www.flickr.com/photos/fenchurch/ Source: http://www.emarketer.com/7strategies.aspx
  38. 38. Best practices for using Social Media…
  39. 39. Join in the conversation. But make sure you pick the right community and that you are adding real value Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx Image: http://www.flickr.com/photos/briansolis/ Source: http://www.emarketer.com/7strategies.aspx
  40. 40. Keep brand fans happy. Focus on your brand enthusiasts and let them “share the love” with others Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx Image: http://www.flickr.com/photos/ringydingydo/ Source: http://www.emarketer.com/7strategies.aspx
  41. 41. Tap into coveted influentials Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx Image: http://www.flickr.com/photos/cesarcabrera/ Source: http://www.emarketer.com/7strategies.aspx
  42. 42. Engender Trust Strategy Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  43. 43. Trust is the currency of brands, and it has never been harder to create or hold on to . Geoff Ramsey, eMarketer ” “ Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  44. 44. Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  45. 45. How do you engender trust with consumers? Image: http://www.flickr.com/photos/chichacha/ Source: http://www.emarketer.com/7strategies.aspx
  46. 46. Realize consumers trust each other more than they trust you. Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  47. 47. Don’t go dark on them – continue to market and advertise . Image: http://www.flickr.com/photos/78124746@N00/ Source: http://www.emarketer.com/7strategies.aspx
  48. 48. Make your product and customer service as good as can be. Image: http://www.flickr.com/photos/thomashawk/ Source: http://www.emarketer.com/7strategies.aspx
  49. 49. Emphasize listening over loud speaking. Image: http://www.flickr.com/photos/santos/ Source: http://www.emarketer.com/7strategies.aspx
  50. 50. Transparency = Trust Adapt messages to be more real – less marketing talk Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  51. 51. Engage Prospects and Customers via Video Strategy Image: http://www.flickr.com/photos/loewenhertz/103955516/ Source: http://www.emarketer.com/7strategies.aspx
  52. 52. Average consumer recall of an un-skippable ad online is 50%, versus 18% for a similar ad on broadcast television. Magid Associates, 2008 ” “ Source: http://www.emarketer.com/7strategies.aspx
  53. 53. In 2008, 80% of Internet users viewed online video (equates to 154 million) Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  54. 54. Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx Projected to increase to 167.5 million Americans in 2009, representing 87% of Internet users.
  55. 55. Image: http://www.flickr.com/photos/crosslens/ Source: http://www.emarketer.com/7strategies.aspx
  56. 56. Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
  57. 57. Two basic strategies for engaging with online video … Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
  58. 58. Place video footage of your products on your Web site to provide a more visual experience (i.e., demo) Image: http://www.flickr.com/photos/zapthedingbat/3028956788/ Source: http://www.emarketer.com/7strategies.aspx
  59. 59. Place video “ads” on video content sites, such as YouTube, Hulu, or better yet, smaller niche sites addressing your target customer. Image: http://www.flickr.com/photos/djou/647642712/ Source: http://www.emarketer.com/7strategies.aspx
  60. 60. Strategy 7 : Test Test Test Image: http://www.flickr.com/photos/philmclean/81540329/ Source: http://www.emarketer.com/7strategies.aspx
  61. 61. It’s tough out there, but now is really a terrific time to experiment. Image: http://www.flickr.com/photos/ebolasmallpox/3044257779/ Source: http://www.emarketer.com/7strategies.aspx
  62. 62. Not on wacky, unproven tactics… but on practical , data-supported success strategies that marketers are already deploying today. Image: http://www.flickr.com/photos/28481088@N00/2412138018/ Source: http://www.emarketer.com/7strategies.aspx
  63. 63. There is simply no excuse today not to be experimenting constantly, relentlessly with digital media and applications . Image: http://www.flickr.com/photos/28481088@N00/2095395404/in/set-72157603519931849/ Source: http://www.emarketer.com/7strategies.aspx
  64. 64. Marketers can read all the research in the world, but if they don’t try a tactic themselves… they will never know if it can work for their brand. Image: http://www.flickr.com/photos/nickwheeleroz/2475011402/ Source: http://www.emarketer.com/7strategies.aspx
  65. 65. The opportunities are limited only by creativity and imagination. – Geoff Ramsey Image: http://www.flickr.com/photos/luchilu/ Source: http://www.emarketer.com/7strategies.aspx
  66. 66. Want more info? Contact: [email_address] Or Visit: http://www.sigmagroup.com
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