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Digital Marketing Presentation – e-Marketing Management (MKTG-7546, Module 4)
 

Digital Marketing Presentation – e-Marketing Management (MKTG-7546, Module 4)

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e-Marketing Process Management (Module 4) presentation for the MKTG-7546 Digital Marketing MBA class at the University of Memphis. To learn more about the course and higher-level insights into social ...

e-Marketing Process Management (Module 4) presentation for the MKTG-7546 Digital Marketing MBA class at the University of Memphis. To learn more about the course and higher-level insights into social technology strategies for business, visit ProfessorBrey.com.

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    Digital Marketing Presentation – e-Marketing Management (MKTG-7546, Module 4) Digital Marketing Presentation – e-Marketing Management (MKTG-7546, Module 4) Presentation Transcript

    • MKTG – 7546 Marketing in a Digital Environment | University of MemphisProfessorBrey.com Image: hotsocialbuzz.com
    • Leveraging Your Success • So, where does everyone go from here with their trends? MKTG – 7546 Marketing in a Digital Environment | University of Memphis2 ProfessorBrey.com
    • Defining and Measuring Influence • What is online influence • Soft and hard metrics • Brand relevance, reach and syndication • Channel vs. Influence MKTG – 7546 Marketing in a Digital Environment | University of Memphis3 ProfessorBrey.com
    • • BackType – Company to measure engagement• #ff – Follow Friday of identifying interesting users to follow• Lifecasting – Constant updating of a person’s life & can involve wearable technology Social Terminology Today MKTG – 7546 Marketing in a Digital Environment | University of Memphis 4 ProfessorBrey.com
    • Tools & Measurement • Hashtracking • Crowdbooster • TweetReach MKTG – 7546 Marketing in a Digital Environment | University of Memphis5 ProfessorBrey.com
    • • No Social Marketing• Bigger Than Facebook• Proper Measurement MKTG – 7546 Marketing in a Digital Environment | University of Memphis6 ProfessorBrey.com
    • /user/TheProfessorBrey /in/professorbrey /Professorbrey @professorbrey MKTG-7546 Marketing in a Digital Environment MODULE 4 - PROCESS MANAGEMENT: TRADITIONAL - DIGITAL - SOCIAL MKTG – 7546 Marketing in a Digital Environment | University of Memphis7 ProfessorBrey.com
    • Marketing Process Management Modification Measure & Interpret Implement & Execute Marketing Mix Tactics & Channels Objectives and Strategies Consumer Understanding Situation Changes Analysis MKTG – 7546 Marketing in a Digital Environment | University of Memphis8 ProfessorBrey.com
    • Marketing Mix (Traditional) MKTG – 7546 Marketing in a Digital Environment | University of Memphis9 ProfessorBrey.com
    • Marketing Mix Modeling• Economic data• Industry data• Advertising data – Promotional, competitive• Product/service data – Pricing, performance• Market outcomes – Sales revenues and profits MKTG – 7546 Marketing in a Digital Environment | University of Memphis10 ProfessorBrey.com
    • Marketing Mix Considerations• Contribution by marketing activity• ROI by marketing activity• Effectiveness of marketing activity• Optimal distribution of spends• Execution effectiveness learning MKTG – 7546 Marketing in a Digital Environment | University of Memphis11 ProfessorBrey.com
    • Channel Selection Criteria (Stern & Al-Ansary, 1992)• Financial strength of • Advertising programs channel • Training programs• Sales strengths • Sales compensation• Product line (channel programs variations) • Equipment and facilities• Reputation • Internal processes• Market coverage • Quality of program• Sales performance • Commitment of resources• Management strength to partnership• Willingness to share data • Cooperation in joint• Acept quota program MKTG – 7546 Marketing in a Digital Environment | University of Memphis12 ProfessorBrey.com
    • Criteria (Peter and Donnelly, 2004)• Availability• Willingness to accept product/service line• Geographical market served• Marketing functions performed• Potential for conflict• Potential for long-term relationships• Competitive products sold• Financial condition MKTG – 7546 Marketing in a Digital Environment | University of Memphis13 ProfessorBrey.com
    • Marketing Mix Decision Graph Channel Selection Matrix Channel Selection Tool MKTG – 7546 Marketing in a Digital Environment | University of Memphis14 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis15 ProfessorBrey.com
    • Internet Marketing Considerations – e-Business Value Chain• e-Business Structure• Customer Focus• Product Strategy• Supply Chain Management• Alliances and Outsourcing MKTG – 7546 Marketing in a Digital Environment | University of Memphis16 ProfessorBrey.com
    • E-Business Structure• Separate structure – Speed-to-market demands – Attracting and keeping e-skilled employees – Center of excellence, building on each other – Lacks e-business transformation• Integrated structure – Conflicts over channels and resources – Integrating all related activity – Channel support attributes MKTG – 7546 Marketing in a Digital Environment | University of Memphis17 ProfessorBrey.com
    • Customer Focus• Broader range of customers – Quick expansion – Regulations of international selling – New pockets of customers• Focus on a niche segment – Drilling down on e-segments• Direct end-user selling – Distribution channels limit this (i.e., car dealerships) – Channel conflict can quickly emerge MKTG – 7546 Marketing in a Digital Environment | University of Memphis18 ProfessorBrey.com
    • Product Strategy• Expanding – Building upon current business (products – services) – Value added services (level monitoring)• Bundling – Increased switching costs – More than just convenience, competitors• Customization – Mass customization MKTG – 7546 Marketing in a Digital Environment | University of Memphis19 ProfessorBrey.com
    • Supply Chain Management• Online procurement – Vertical markets (all in one industry) – Horizontal markets (range of industries – Online exchanges and enterprise resource systems• Intranets and B2B exchanges – Transformation of social media• Marketing focus is the distribution channels MKTG – 7546 Marketing in a Digital Environment | University of Memphis20 ProfessorBrey.com
    • Alliances & Outsourcing• Technology access – Partnerships to provide more technology• Customer reach – Aggregators and other customer websites• Market-entry alliances – Digital alliances to expand entry potential• Product bundling – Integrated package of services MKTG – 7546 Marketing in a Digital Environment | University of Memphis21 ProfessorBrey.com
    • Inbound Marketing Process MKTG – 7546 Marketing in a Digital Environment | University of Memphis22 ProfessorBrey.com
    • A Step Back • Marketing management to include the whole spectrum – what would you look at from a consumer attractiveness perspective? MKTG – 7546 Marketing in a Digital Environment | University of Memphis23 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis24 ProfessorBrey.com
    • • Facebook user = $118 • Facebook paid $1.4b to developers • 97% believe social media marketing benefits their company • The latest statistics (and I wouldn’t lie to you) Mind Blowing Statistics MKTG – 7546 Marketing in a Digital Environment | University of Memphis25 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis26 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis27 ProfessorBrey.com
    • Sunflower Model MKTG – 7546 Marketing in a Digital Environment | University of Memphis28 ProfessorBrey.com
    • Sunflower Model• Social organizational leader• Organic structure – Around the leader – Ambassadors, CEO blog to fuel conversation, bloggers, front line Facebookers• Audience – Select and deeply understood consumer group MKTG – 7546 Marketing in a Digital Environment | University of Memphis29 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis30 ProfessorBrey.com
    • Social Media Consultants – Brand Monitoring• What tool(s) do you use to monitor brand mentions?• Do you monitor sentiment and if so, how?• How will you report on brand mentions? Can you provide a sample report?• How often will we receive a report or will we have access to the reports?• How do you assess which brand mentions require an immediate response and which do not?• How soon will we be notified of brand mentions that need a response and how will we be notified?• What is your approach to responding to mentions, positive or negative?• If you respond, who do you leave a comment as and how do you determine what to say?• If you don’t respond, will you provide us with a template for how to effectively respond to brand mentions?• Do you just monitor existing mentions or will you help us to build new ones? MKTG – 7546 Marketing in a Digital Environment | University of Memphis31 ProfessorBrey.com
    • Social Media Consultants – Reputation Management• What services do you provide as part of an online reputation management campaign?• What is your typical process for handling online reputation management issues?• Can you completely get rid of the negative result(s)?• What responsibilities will your team handle and what will you need us to manage in-house?• Do you write content/press releases/guest posts for us or will we have to hire someone else to do that?• What information/access will you need from us before you get started?• How much information do you need regarding the cause of the ORM issue?• How will you determine if reputation management is successful?• How much time could it take to displace negative search results?• Can you make a 3-month projection of how the search results will look for target phrases? MKTG – 7546 Marketing in a Digital Environment | University of Memphis32 ProfessorBrey.com
    • Social Media Consultants – Measurement• What social media marketing channels do you have the most expertise in?• Will you work with us to create a social plan/strategy or do you just create the initial presence?• What tools do you use to measure social media metrics? Do you have your own tools or do you use existing ones?• Can you pull archived data with those tools to establish a baseline or are we starting from present day?• How should we define success/conversions?• Can we use our analytics with your tools when reporting on conversions or will we have to switch to something else?• How do you the measure the effectiveness of each social media channel?• How should we define ROI? Do you measure the cost per lead/ cost per acquisition?• What methods will you use to grow the accounts and measure success?• Do you have 3-month projection of what we can expect from this investment?• How long will it take to see results? MKTG – 7546 Marketing in a Digital Environment | University of Memphis33 ProfessorBrey.com
    • Social Media Consultants - Community• Will you help us build satellite communities within social media or focus strictly on our Web site?• How will you help us determine our community influencers? If not, can we keep the list that you’ve created?• Will you reach out to the influencers on our behalf or will we? If it’s on you, how transparent will you be about our relationship with us? How do you keep it authentic?• Will you give us a strategy for how to connect with influencers in a way that doesn’t appear spammy? Small talk makes us nervous, but we want people to know we’re real.• What methods will you use to grow our audience? Will they get us in trouble or turn people off?• How do you measure community ROI? We hear follower numbers are so 2008, but what else is there?• What about the new FTC guidelines for sponsored advertising? How do we know when or what to disclose?• How can integrate our online community with our offline community and into our traditional marketing efforts?• Will you give us any guidelines for how to talk to people and how to be a good social media citizen so we don’t look foolish?• Will you teach us how to sustain what you’ve started? We will be taught how to use the tools, identify people, and essentially do what you did? MKTG – 7546 Marketing in a Digital Environment | University of Memphis34 ProfessorBrey.com
    • Social Media Consultants – The Right Fit• Do their core values match my own?• Are my customers on social media? Do I even need these services?• If I’m the one who will be tweeting, Facebooking, blogging, am I social enough for this?• Am I being offer a social media presence or an outlined strategy?• Do they seem excited to work with me? Am I excited to work with them?• Do they understand our point of difference?• How customized does their strategy feel?• Do they take time to answer our questions and explain rationale or do they seem fearful of going into specifics of what they’re doing?• What does this company’s reputation appear to be in the community? Are they practicing what they preach and tracking/responding to their own mentions?• Do I trust the people behind this company? Do they seem to care about my brand?• How will the strategy they outline complement your larger objectives? MKTG – 7546 Marketing in a Digital Environment | University of Memphis35 ProfessorBrey.com
    • Social Media Policy Examples & Resources MKTG – 7546 Marketing in a Digital Environment | University of Memphis36 ProfessorBrey.com
    • Social Media Policy• The employee social media bill of rights• Internal usage guidelines• External usage guidelines• Employment disclosure guidelines• Anti-defamation guidelines MKTG – 7546 Marketing in a Digital Environment | University of Memphis37 ProfessorBrey.com
    • Social Media Policy• Social media confidentiality and nondisclosure guidelines• The employee digital citizen contract• Training resources• Social media policies for agency partners, contracts and external representatives MKTG – 7546 Marketing in a Digital Environment | University of Memphis38 ProfessorBrey.com
    • MKTG – 7546 Marketing in a Digital Environment | University of Memphis39 ProfessorBrey.com
    • Data to Work• Goals and Strategy – Don’t lose site of top-line objectives – Align the right goals with the right stakeholders – Create an inclusive forum for priorities – Reprioritize often – Reward performance and hold people accountable MKTG – 7546 Marketing in a Digital Environment | University of Memphis40 ProfessorBrey.com
    • Data to Work• Expertise – Create a central hub to support users – Include diverse skill sets • Technical, analytical, interpersonal – Consider outside help – Plan for outgoing support – Include an educational component MKTG – 7546 Marketing in a Digital Environment | University of Memphis41 ProfessorBrey.com
    • Data to Work• Tools – Keep it simple – Don’t pay for what you don’t need – Use the right tool for the right job – Validate your installations – Centralize administration MKTG – 7546 Marketing in a Digital Environment | University of Memphis42 ProfessorBrey.com
    • Data to Work• Unified Data – Monetize metrics – Use prebuilt integrations – Don’t fall into the accuracy trap – Do it manually before you automate – Start small MKTG – 7546 Marketing in a Digital Environment | University of Memphis43 ProfessorBrey.com
    • Data to Work• Process Integration – Launch early and often – Deliver the right metrics to the right people – Test and retest – Create a common language – Teach people to fish MKTG – 7546 Marketing in a Digital Environment | University of Memphis44 ProfessorBrey.com
    • • Do or Die• Don’t get caught in the hype• Get over yourself• Start with a hypothesis• Market goals evaluation criteria• Test and measure for multiple outcomes• Source your tests MKTG – 7546 Marketing in a Digital Environment | University of Memphis45 ProfessorBrey.com
    • Data Sources• Fireclick• Coremetrics (IBM Enterprise Marketing)• Compete MKTG – 7546 Marketing in a Digital Environment | University of Memphis46 ProfessorBrey.com
    • • % of buzz containing multimedia • Influence on customers reached • Demographics of target audience • Geography of participating consumers • Sentiment by volume of posts • Time spent on content, sourced from social media sitesBack to Basic Measurement MKTG – 7546 Marketing in a Digital Environment | University of Memphis47 ProfessorBrey.com
    • • Planning & Budget• Dashboard report• Simply Measured Managing the Intense MKTG – 7546 Marketing in a Digital Environment | University of Memphis48 ProfessorBrey.com
    • • A new, measured culture • Benchmarking data • Reporting the right reports, the right information, at the right time Managing the Information Process MKTG – 7546 Marketing in a Digital Environment | University of Memphis49 ProfessorBrey.com
    • NEXT WEEK• Kaushik, Chapter 9• The Social Profile Next week the information will be a ‘little less heavy’ as we only have one day of content before the mid-term happens! MKTG – 7546 Marketing in a Digital Environment | University of Memphis50 ProfessorBrey.com
    • @professorbrey /Professorbrey /in/professorbrey /user/TheProfessorBreyMKTG – 7546 Marketing in a Digital Environment | University of MemphisProfessorBrey.com