Future Of Internet Marketing Zürich 25sept2008 Public Short

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An edited shortened presentation given at the CMO Conference in Zürich, Switzerland in September 2008

An edited shortened presentation given at the CMO Conference in Zürich, Switzerland in September 2008

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  • 1. The future of online marketing Ideas, opinions and thoughts from a hands-on practitioner Michael Leander Nielsen (c) Michael Leander Nielsen, 2008 1
  • 2. Did you know? The future is here It’s just not widely distributed yet William Gibson (c) Michael Leander Nielsen, 2008 2
  • 3. Who am I? 10 Corporate 20+ CEO, ¨VP Marketing VP Sales Denmark Michael Leander 10 + Marketing consulting International roll-out (c) Michael Leander Nielsen, 2008 3
  • 4. So - what is online marketing? Online media Email Digital Search ecosystem Web sites Digital Microcasting devices Interactive & TV (c) Michael Leander Nielsen, 2008 4
  • 5. Marketing in a recession What others have been experiencing • Marketing budgets decreases • Focus on quick wins • More direct, less mass marketing Necessitates a strong focus • Small budgets, big results • Existing customers • Prospects “most likely to buy” • and …. 5
  • 6. ROMI Return on Marketing Investment also known as MROI – Marketing ROI
  • 7. Marketing Metrics for the future • Marketing is an investment - also in times of recession … accountability is important • Customer lifetime value is (still) essential to any marketer • Differentiated Cost per Interest : • Cost per permission – basic • Cost per permission – profiled • Cost per order / cost of acquisition (c) Michael Leander Nielsen, 2008 7
  • 8. 1908 (c) Michael Leander Nielsen, 2008 8
  • 9. 1994 to 2008 = 14 years North America Asia 73,6%% 15,3% Africa 5,3% Switzerland 69% Europe Austria Germany 56,7% 48,1% 64,6% (c) Michael Leander Nielsen, 2008 9
  • 10. Broadband on the rise 30,97% (c) Michael Leander Nielsen, 2008 10
  • 11. Some are finding that direct mail is becoming increasingly effective Multi-channel - Integrate - Differentiate - Permission - Cost efficiency (c) Michael Leander Nielsen, 2008 11
  • 12. All about the customer experience. Now you need to build a strategy and EXECUTE Experience > Conversation > Relationship > Affinity (c) Michael Leander Nielsen, 2008 12
  • 13. (c) Michael Leander Nielsen, 2008 13
  • 14. Changing media landscape Illustration source: Cscout (c) Michael Leander Nielsen, 2008 14
  • 15. Now & Influence revolution The Future Social media definition “Online applications, platforms and media which aim to facilitate interaction, collaboration and the sharing of content” (c) Michael Leander Nielsen, 2008 15
  • 16. The ways to share influence have exploded (c) Michael Leander Nielsen, 2008 16
  • 17. Key social platforms • Now & In Future • B2Bs find your place • B2Cs develop engaging content • NGO’s - likewise (c) Michael Leander Nielsen, 2008 17
  • 18. Wave 3 – highlights social media • Social media is a global phenomenon happening in all markets regardless of wider economic, social and cultural development. If you are online you are using social media • Asian markets are leading in terms of participation, creating more content than any other region • All social media platforms have grown significantly over the three Waves • Video Clips are the quickest growing platform, up from 31% penetration in Wave 1 (2006) to 83% in Wave 3 (May 2008) • 57% have joined a Social Network, making it the number one platform for creating and sharing content • Blogs collectively rival any traditional media 73% have read a blog • The blogosphere increasingly participatory, now 184m bloggers globally • Social media impacts your brand’s reputation • 34% post opinions about products and brands on their blog • 36% think more positively about companies that have blogs (c) Michael Leander Nielsen, 2008 18
  • 19. Understanding your audience behavior • What have they been doing historically? • What will they be doing in the future? • What are their preferences? • What is the social Technographics® profile of your target group? http://www.forrester.com/Groundswell/profile_tool.html (c) Michael Leander Nielsen, 2008 19
  • 20. How often do you share your opinion about a product, brand or service via the internet? (c) Michael Leander Nielsen, 2008 20
  • 21. We are motivated to share by experience Not motivating Very motivating (c) Michael Leander Nielsen, 2008 21
  • 22. Key instruments – important to the majority of marketers and why? Sign-up here for updates and articles: http://www.fokusintegrated.com/meemoo2/ (c) Michael Leander Nielsen, 2008 22
  • 23. What are you trying to achieve? Prospect RETENTION WEB SITE UPSELLING CROSS SELLING SHARE OF WALLET – CUSTOMER SHARE # of prospects PROSPECT WITH PROSPECT NEED AND TRIAL Target SUSPECTS PROSPECTS WITH BUYER C B A BUDGET market NEED 4 3 5 2 6 1 7 8 INCUBATIONTIME © Michael Leander Nielsen, 2002-2008
  • 24. What do you want your targets to do? How much are you willing to pay? Branding/ Awareness Email signup Profiled Media Signup Trial signup Trial buy Purchase Video CPO Blogs = £$€ ? Affiliates Email • Measure conversions CPI = £$€ ? • Monitor successes
  • 25. Measuring the customer experience - LIVE • Measure the customer experience in all customer contact touch points • Measure live – ensure that reporting is actionable on both the aggregate and individual customer level • Implement KPI’s for fast identification of certain customer profiles Measuring the customer experience in all customer touch points React - Measure Report - live immediately (c) Michael Leander Nielsen, 2008 25
  • 26. Engaging your audience with great relevancy to product USP (c) Michael Leander Nielsen, 2008 26
  • 27. Commit to audience innovation and ideas in an open dialogue: Starbucks (c) Michael Leander Nielsen, 2008 27
  • 28. Citizen journalism and niche medias. Does your brand fit in? Online PR (c) Michael Leander Nielsen, 2008 28
  • 29. Collaboration and utilizing the internet to extend a physical product experience But why not ask me questions about my running behavior? My shoe size? Etc. (c) Michael Leander Nielsen, 2008 29
  • 30. Word of mouth - Viral marketing – very powerful Today and tomorrow (c) Michael Leander Nielsen, 2008 30
  • 31. (c) Michael Leander Nielsen, 2008 31
  • 32. Capturing data and using customer and prospect data for a relevant dialogue based on customer interest, behavior and dynamics Marketers can no longer ignore the importance. Data management is NOT an IT issue Neither is marketing automation and managing the customer lifecycle (c) Michael Leander Nielsen, 2008 32
  • 33. Trends - Permission • Obtaining permission will become exceedingly Vital • You need permission for email, SMS/MMS etc. • Profiling permissions a prerequisite for a relevant Dialogue • Cookie permission in the European Union MAYBE (c) Michael Leander Nielsen, 2008 33
  • 34. Website interaction – simple example Profile Visitor RFM Offer checks Lead score Identify solution out solution Purchase history visitor Hold my hand, Harry Behavioral Leave me alone, Larry Targeting Walk in the park Visitor Dialogue Visitor still applies initiate browsing live purchase Visitor Visitor Engage gets visitor complete lost purchase (c) Michael Leander Nielsen, 2008 34
  • 35. Communities – get involved with an existing one or create your own (c) Michael Leander Nielsen, 2008 35
  • 36. Video-blogs / video content sites (c) Michael Leander Nielsen, 2008 36
  • 37. Blogging Microblogging • Inexpensive and effective • Seeding and time to achieve critical mass is the biggest issue
  • 38. Summary • The ”basics” are enormously important in the future • Conversation economy • Acquiring and retaining permission is critical • Social media and communities represent real opportunities for most - but must be planned and executed properly • Viral marketing and WOM rightly executed represent monster opportunities • Mobile marketing is a promising media, but permission is a challenge • Big media to small media: Traditional online advertising is less advantageous for most – micro targeted advertising on social networking platforms not (c) Michael Leander Nielsen, 2008 38
  • 39. Get in touch: mln@fokusintegrated.com Check www.meemoo2.com and www.marketingboss.tv (c) Michael Leander Nielsen, 2008 39