Do It Wrong Quickly GPSEG 2012 04-13

Mike MoranThe good old days in marketing  The best creative folks came up with a great message for a mass market  We tested it against focus groups  We pushed it out there—over and over again  We hoped they’d buy, but weren’t sure they did Id like to buy the world a Coke adds life Coke3 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranThe good new days in Web marketing  You can target even the smallest group  You can measure the results of everything you do  You must change your message in response to what your customers:  Say (comments, blogs, product ratings)  Do (search, purchases, page views)4 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranThe Web rewards pull over push  You don’t target markets with a message the same way on the Web  More often, markets have to find you, or your customer must give you permission:  Search  Opt-in e-mail  Subscribe to blogs  But even tiny markets can be reached5 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranRemember, it’s still marketing 1. You need to target your market 2. Understand what they care about 3. And connect with your message If you do:  You improve your image  And you drive sales6 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranThe difference is how you do it  Time was that marketing was risky  Your job was to remove as much of the risk as possible  But Web marketing rewards experiments rather than deep planning  Are you feeling stuck?7 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranBoth organic and paid search offer opportunities  With paid, you bid what you’ll pay for each click  Organic is the search engine’s best match Paid Search Organic Search9 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranSocial media marketing is new wine in old bottles  Growing out of search marketing, and public relations before that  Social media marketing is any way you can get attention for your message using people connected to the Internet People + message + Internet = social media marketing10 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranContent-based social media marketing Content sites  Focuses on the content to be posted and passed around: blogs, videos, photos, news stories, Bookmarking sites podcasts  Or bookmarks to the content  Feeds viral marketing11 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranPersonality-based social media marketing  Consumer companies create character profiles, but may not be the best marketing for B2B companies  Consultants create professional profiles12 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranInterest-based social media marketing  Communities form around topics of interest, such as message boards and specialty search engines  Marketers must get into these conversations  Maybe social bookmarking sites fit into this category, too13 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranRemember that social media uses a community  Get to know the community  Give back to the community  Let the community spread your word  You can’t force it It Takes a Village14 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranThe Three Rs of Marketing 2.0  Real No more of the old marketing hype. Tell the truth. Admit your mistakes.  Relevant You can’t interrupt people anymore. You must have what they want.  Responsive Marketing is no longer a monologue. You must answer your customers.15 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranMarketers must give up message control  We don’t control the message  The message is changed, rebutted, and misconstrued by our audience  We must modify what we say in response16 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranWeb 2.0 now makes marketing a conversation  Readers comment on your blogs  They change your wikis  The create blogs of their own  They create “hate” sites if they don’t like you  They produce mashups of your content and functions Web 1.0 users were consumers Web 2.0 users are participants18 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranHow do today’s companies listen to customers?  Google Alerts are free and easy  Set up a search and follow the e-mails or an RSS feed  Perfect for small businesses and unique search keywords19 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranBut other companies fail with search algorithms  “T-Mobile” will be found quite easily  “Sprint” not so much  “Verizon Wireless” is also not easy to isolate20 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranGoogle Alerts treats all mentions the same Doesn’t separate Doesn’t aggregatepositive from neutral volumes or show and negative competitors Doesn’t differentiate by venue21 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranSentiment analysis shows opinions Top Five Tech Pundits in Smart Phone Conversation Blog URL Net Sentiment Rank Traffic (toward Brand) Venue falls in the top 1% of highest Engadget A trafficked, most influential sites Venue falls in the top 1% of highest Gizmodo A trafficked, most influential sites Venue falls in the top 10% of high Electronista B trafficked sites Venue falls in the top 10% of high UberGizmo B trafficked sites Venue falls in the bottom 90% of Switched C trafficked sites22 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike Moran Algorithmic sentiment analysis misses sarcasm “Oh, the iPhone is a beautiful girl, no doubt.” The automated sentiment analysis failed to identify the sarcasm and coded the entry as positive for iPhone, while failing to understand the author was actually saying there was no value for the iPhone beneath its flashy exterior23 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranAlgorithmic sentiment analysis misses nuance “I waited on line for  You know that my entire lunch hour these are negative, at my Wells Fargo but there is no word branch today.” to tell the algorithm  These would be marked neutral by “State Farm never most algorithms told me I had no flood coverage.” “Amazon wouldn’t refund my money.”24 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranAlgorithmic sentiment misses context  The same words mean different things  An “unpredictable” movie is good, but “unpredictable” food quality, not so much  We like “small” cell phones but not “small” hotel rooms  “Faded” jeans are good, but not “faded” photos  “Frozen” computers are bad, but “frozen” margaritas are good25 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranThe problem: Algorithms alone fall short  70% accuracy on relevance  70% accuracy on sentiment “Oh, the iPhone is a beautiful  70% times 70% = 49% girl, no doubt.” The best algorithms seem to fail half the time26 © 2012 Mike Moran © 2010 Mike

Mike MoranHuman analysts can correct the algorithms  If you need the data to be right, you need people to check the machines  The machines collect the data and make the easy calls, and they suggest the answers for the tough ones, but humans make the final decision27 © 2012 Mike Moran © 2010 Mike

Mike MoranImagine a catalog marketer who said to the boss…  I shipped February’s catalog on time  And under budget  Customers like it  And it looks beautiful  Wanna see it? But that’s all we say about our Web sites—where are the metrics?29 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranHow can you drive demand for your products? Increase your conversion rate Increase your traffic Visitors 1000 1000 2000 Conversion Rate 1% 2% 1% Conversions 10 20 20 Base32 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranHow can you drive demand for your products? Increase your conversion rate Increase your traffic Or both Visitors 1000 1000 2000 2000 Conversion Rate 1% 2% 1% 2% Conversions 10 20 20 40 Base33 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranWhat are your conversions? Online sales  Download a white paper Find a store  Fill out a Find a dealer contact form Find a partner Phone call Affiliate link34 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranHow do you track offline conversions to the Web?  The easiest way is for you to contact the customer  If the customer switches channels, entice the customer to:  Print the product’s specifications to bring to the dealer  Print a coupon to present at the retailer  Call a special phone number35 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranWhich metrics matter?  Impressions: Did they see it? E-mail opened? Ad displayed? Document shown? Blog entry read?  Selections: Did they choose it? Click throughs? Mouse over?  Conversions: Did they buy it? Download? Call?36 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranBeyond A/B testing: multivariate testing  Yes, it’s free  Create different versions of your pages  Google tests them with live visitors and reports back on which variations did the best  Then you permanently change the page to the best version38 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranRespond to your customers  Change your products Learn Use  Change your content Shop  Change your prices Get Buy  Change your policies  Change your experience Which changes increase your conversions?  Then, change them again Customers vote with their mice40 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Mike MoranRead all about it  “The Bible of search marketing” --Chris Sherman, Search Engine Land The  Includes DVD with videos and search presentations; text updated on marketing each printing best seller Named a “best business book” by Miami Herald for 2007  “Great book.” --Robert Scoble, Scoblizer blogFor more information about the  “Act now andbooks, and for the free Biznology read it.”newsletter and blog: --Bryan Eisenberg, Author of #1 best seller Waiting for Your Cat to Bark?www.mikemoran.com41 © 2010 Mike Moran © 2012 Mike Moran Group LLC

Do It Wrong Quickly GPSEG 2012 04-13

by Mike Moran on Apr 16, 2012

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Do It Wrong Quickly GPSEG 2012 04-13 Presentation Transcript