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10 Hottest Areas Of Digital Marketing

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    Notes on slide 1

    OK, thanks for the intro and for the opportunity to present today. Here’s the agenda. We’ll start out by gazing into our crystal ball for an industry outlook.

    Then we’ll go thru the top 10 hottest areas of digital marketing one by one and I’ll share practical tips you can use to cash in on them. Note I only have 20 minutes to run thru this entire deck so I’m gonna try and be quick and focus on 1 tip for each topic.

    And then we’ll close with Q&A so please get your hardballs ready.

    OK, let’s turn to our magic Google 8-ball to see what things look like out there.

    Hey, waddya know? Despite overall ad spend taking a beating, digital marketing is up and projected to continue to grow to over 20% of total ad spend 5 years from now. This is from data that Forrester put out last month.

    Still not quite closing the gap between % of time spent online vs. other media but we’ll take it.

    So where’s the money going? Forrester breaks down the top 5 digital channels into mobile, social, email, display, and search.

    Let’s look at this in a pie chat to get some better perspective. No surprise, search has the biggest slice followed by display -- with email, social, and mobile barely scratching the surface.

    But if you look at compound annual growth rate, social media is growing the fastest, followed by mobile, then display!

    Display’s a pretty broad category though so let’s look at how it broke down last year. This is data from the IAB and PWC. As you can see, the majority of display is still banners but rich media and video combine to make up 30% with the rest going to sponsorship.

    OK, let’s get to the top 10 hottest areas of digital right now. How do I know what’s hot? Well, since I started my company 4 months ago, I've met with hundreds of marketers and digital marketing companies trying to get a sense of who's doing what and who's doing it right as I build out the Connectual referral network . Hearing firsthand what the buyers are looking for and what the sellers are pushing has given me a pretty good sense of what’s cooking out there. Now, I’m not going to focus only on the formats we saw in those charts. I’m also gonna sprinkle in some other areas of digital marketing that are moving the needle right now. And away we gooo…

    #10 is Local. There are a number of companies creating platforms to help marketers reach niche, local communities.

    My tip for cashing in on local is that you don’t have to be a local marketer to localize your marketing. If you’re an e-commerce-only company or just have a few brick and mortar locations, you can still take advantage of hyperlocal targeting. Local news and entertainment sites are a great source of sticky traffic and companies like Centro make it easy to aggregate them.

    And geo-targeting your display and search buys can be a great strategy. Tailor your creative to call out cities and regions to connect with your audience. And in search, geo-targeted buys often get higher click-rates and quality scores as they stand out from a sea of undifferentiated text-links.

    #9 on the list is Mobile. I think the every year since 2004 was supposed to be the year of mobile but this is the first year I’ve seen it take a slice of the digital marketing pie we looked at earlier -- albeit only 1%. I always advise marketers to approach mobile with caution though. Here’s some data from eMarketer showing what people are looking for on their mobile device – local listings, info, and content (read: porn and ringtones).

    The key with mobile is to give the people what they want! Create compelling content and wrap your brand around it. OK, maybe this is a bad example.

    Here’s a better one. Whole Folds created a recipe app for the iPhone, basically taking some content that was already available, repurposing it for the mobile phone and slapping their brand on it. Not hard too do. Not terribly expensive. But this is one of the hottest apps right now after getting picked up by Apple as a staff top pick.

    Checking in at #8 is Multivariate Testing. Here’s our purchase funnel. No marketing presentation would be complete without it.

    This is actually one that Omniture presented at a recent conference. I like how it shows the role of multivariate testing right there in the middle. If you want to keep visitors moving thru the funnel on their way to becoming customers, you’ll want to deploy multivariate tests on your site.

    The key here is automation. You don’t need to be a PHd to execute a multivariate test. Omniture, for one, has a great tool called Test & Target that can help you easily test variables on your site and find the right combination.

    Now let’s not forget about how your customers find out about you in the first place before deciding to come to your site. #7 on the list is Creative.

    Click-thru rates getting lower by the day as consumers suffer from banner blindness. So now marketers are starting to measure other metrics such as interaction rate or expansion rate. That’s all fine and dandy but most marketers still want people to click thru and visit their property.

    The key to improving click-rates with display is to use automated tools for assembling ads on the fly. Yahoo’s Smart Ads platform and providers like Tumri allow you to adjust messages, images, calls-to-action, even background colors and continuously optimize to find the right combination for each impression. Too many people focus on creating big, flashy ad units to elicit some kind of emotional response. At the end of the day, sometimes a little thing like font color can be the difference between a click and a miss.

    Coming in at #6 are ad networks and ad exchanges. There are some 400-odd ad networks right now. The big trend is towards vertical ad networks with publishers building networks around very niche audiences such as blue-eyed, left-handed Sagittariuses – or would that be Sagittarii???

    As for the broader networks, many of them have duplicated audiences so the key is to use an exchange to liquidate unwanted inventory. Exchanges let you resell impressions that don’t meet your criteria so you’re not stuck serving an untargeted ad. Companies like Right Media and X plus 1 have great platforms to let you do just that.

    The #5 hottest area of digital is behavorial targeting. I love this image. Seems to capture the pain many of us feel when we’ve been targeted a little too closely. My colleague David Berkowitz of 360i has written about his experiences with what he calls Jewhavioral targeting where ads on Facebook call out his religion.

    The opportunity today with behavioral targeting is to leverage e-commerce data when creating profiles. Companies like BlueKai monitor activity on e-commerce sites and allow you to target in-market buyers. And Cardlytics, which is a client of mine, is a startup that allows targeting based on transactions within consumers’ online bank statements. The key with all behavioral targeting is to reach people within the same session or some other relevant context. Just because someone visited a travel site a week ago doesn’t mean they’re thinking about that trip today. That’s where recency comes in to play. Make sure you’re working off a tight cookie window.

    OK, #4 is Analytics. This discipline’s getting a lot more attention right now as marketers try and squeeze every last drop of ROI. Whether it’s simple web analytics for your online properties or advanced econometric modeling to measure the impact of every line item on your media buy, it seems like the marching orders coming down from the C-suite these days, “Analyze This!”

    Now, here’s a slide I stole from Resolution Media. According to Google Analytics, the average conversion rate across all e-commerce sites is 1.74%. The biggest mistake most marketers make is obsessing over the folks that convert and setting all sorts of rules for their campaigns to try and attract more people like those 2%. What people don’t realize is that the opportunity really lies in making changes to your messaging, your site, even your product line to better appeal to the 98% of people that visit your site without taking the action you wanted. Great metrics to focus on are bounce rate, repeat visitors and time on site. Analytics can be daunting to many folks, especially right-brained marketers. There are a number of great tools out there that can uncomplicate the process. The best place to start is Google Analytics. It’s free and you don’t need a PHd to interpret the charts. From there you can work your way up to Omniture. Just make sure you have a team in place to manage implementation and maintain the tracking. It’s not a set-it and forget-it situation.

    Clocking in at #3 is video. As bandwidth gets faster and more and more content’s made available online, video viewership is way up. The challenge is that no-one’s figured out the right ad format for online video. This illustration from VideoEgg really tells the story. With TV, people are used to having their time split with advertisers time. Not so on the web. The first wave of advertising with online video mirrored the TV experience with ads playing before, during, and after the content.

    But this ain’t Red Lobster. When it comes to video, people hate the rolls. Pre-rolls, mid-rolls, post-rolls, oh my. You’re better off trying to integrate your brand into the video. Create original content around your products. Funny or Die does a great job of this. And agencies like SMG and Vivaki have created an experimental group called the Pool to create new video ad units. Personally, I believe the future of video advertising is hot-spotting like this example from Microsoft’s Ad Labs where you can interact with brands and products you see in videos and find out more information about them. For now though, the roll is where the volume is. So if you’re going to buy some, for god’s sakes don’t just repurpose your TV spot. And don’t pay CPM, pay cost per engagement.

    #2 is Search. Everyone’s talking about market share right now with the launch of Bing and rumors of a Microsoft/Yahoo deal.

    While people are busy speculating over what they’ll call the new search engine – my personal fave is Bingya – this is the chart that I’d be focused on if I were a marketer. This is from Google Insights for Search tracking query volume on 3 brand names in the QSR category. I’d be looking for spikes in search following my broadcast TV buys to see the impact they had. And I’d be using search data for competitive intelligence. Google Insights also breaks down interest by region which can help you focus your local marketing efforts. Now, for the #1 hottest area of digital marketing… drumroll please…

    Yep, it’s social media. This should come as no surprise what with the massive growth of Twitter and Facebook as shown in this chart from Compete.com.

    The key to social media is to crawl before you walk and listen before you talk. That’s my daughter Eliara. She’s walking and talking now but she didn’t start off that way. Too many marketers jump right in to social media feeling like they need to be there because it’s where all the chatter is. So they’ll hurry up and build a Facebook page and Twitter account and then wonder why they have 27 fans and 33 followers. It’s important to get a feel for the platform before you dive in. Figure out what value you can add to the community. The old approach of “build it and they will come” is dead. You’ve got to figure out how your brand fits into the social landscape and build around that.

    So there you have it folks, the 10 hottest areas of digital marketing and the keys to cashing in on them. Here are some additional resources for you. Check out my post on the Connectual blog for more color commentary on this topic. Take a gander on my digital marketing blog. And be sure to get your pass to adtech Chicago where I’ll be moderating a keynote panel on Day 1.

    Here’s some more info on that session. As you can see, a great lineup with Jeff Davidoff, who was the CMO of Orbitz up until a couple weeks ago, Sean Finnegan, Chief Digital Officer for Starcom Mediavest, John Cantarella, GM of Time.com and Jim Lecinski who runs US Sales for Google.

    OK, it’s time for Q&A so I hope you’ve submitted some hardballs. That’s Mark Buehrle of the Chicago White Sox by the way. He’s pretty good. Pitched a perfect game a couple weeks ago.

    Favorites, Groups & Events

    10 Hottest Areas Of Digital Marketing - Presentation Transcript

    1. Cashing in on the Top 10 Hottest Areas of Digital Marketing Image Source: http://www.infobarrel.com/media/image/970.jpg
    2. Today’s Speaker
      • Bringing together buyers and sellers of digital marketing solutions
      • Consulting and representation for marketers, agencies, media companies and technology providers
      • 5 years as VP, Marketing & Strategic Partnerships at Resolution Media, a top SEM under Omnicom
      • 5 years running Midwest sales at L90/MaxOnline, an early ad network that got bought by Excite, then Ask Jeeves, then IAC
      • Blogs extensively at DigitalSeaChange.com and GoodURLBadURL.com
      Aaron Goldman, Founder & Managing Partner of Connectual Image Source: http://connectual.com/about/
    3. Agenda
      • Industry Outlook
      Image Source: http://scrapetv.com/News/News%20Pages/Games/Images/crystal-ball.jpg
    4. Agenda
      • Industry Outlook
      • 10 Hottest Areas of Digital Marketing & How to Cash In
      Image Source: http://scrapetv.com/News/News%20Pages/Games/Images/crystal-ball.jpg
    5. Agenda
      • Industry Outlook
      • 10 Hottest Areas of Digital Marketing & How to Cash In
      • Q & A
      Image Sources: http://scrapetv.com/News/News%20Pages/Games/Images/crystal-ball.jpg http://www.dietpower.com/images/microphones_314.jpg
    6. Industry Outlook Image Source: http://i192.photobucket.com/albums/z221/agoldman3/Obama8Ball.jpg
    7. Digital Marketing is Growing! Image Source: http://blogs.forrester.com/marketing/2009/07/interactive-marketing-nears-55-billion-advertising-overall-declines.html
    8. Digital Marketing is Growing! Image Source: http://blogs.forrester.com/marketing/2009/07/interactive-marketing-nears-55-billion-advertising-overall-declines.html
    9. Where’s the Money Going? Image Source: http://blogs.forrester.com/marketing/2009/07/interactive-marketing-nears-55-billion-advertising-overall-declines.html
    10. Can We See That in a Pie Please? Source: http://blogs.forrester.com/marketing/2009/05/interactive-budgets-are-growing-at-the-expense-of-offline.html
    11. Can We See That Again? Image Source: http://blogs.forrester.com/marketing/2009/07/interactive-marketing-nears-55-billion-advertising-overall-declines.html
    12. Can You Break Down Display? Source: http://www.iab.net/media/file/IAB_PwC_2008_full_year.pdf
    13. 10 Hottest Areas of Digital Marketing & How to Cash in Image Source: http://www.iphonematters.com/images/uploads/all_about_benjamins_small.jpg
    14. Local Image Source: http://www.psfk.com/wp-content/uploads/2009/04/hyperlocal.jpg 10
    15. Local
      • You Don’t Have to be a Local Marketer
      • to Localize your Marketing!
      Image Source: http://www.google.com/search?hl=en&safe=off&rlz=1B3GGGL_enUS323US323&q=lamp+&aq=f&oq=&aqi=g10
    16. Local
      • You Don’t Have to be a Local Marketer
      • to Localize Your Marketing!
      Image Source: http://www.google.com/search?hl=en&safe=off&rlz=1B3GGGL_enUS323US323&q=lamp+&aq=f&oq=&aqi=g10
    17. Mobile Image Source: eMarketer Chicago Breakfast Aug. 2008 9
    18. Mobile
      • Give the People What They Want!
      Image Sources: http://kottkegae.appspot.com/images/iphone-parallels.jpg http://pornstarbabylon.files.wordpress.com/2009/02/10-porn-stars-who-twitter-2009.jpg http://www.lecreme.com/images/viagra-pill.gif Sponsor:
    19. Mobile
      • Give the People What They Want!
      Image Source: http://www.apple.com/iphone/apps-for-iphone/staff-picks/whole-foods-market-recipes.html
    20. Multivariate Testing Image Source: Omniture OMMA Hollywood 2009 8
    21. Multivariate Testing Image Source: Omniture OMMA Hollywood 2009 8
    22. Multivariate Testing
      • Let Automated Tools do the Math for You!
      Image Source: http://www.omniture.com/en/product_tours/offermatica/mvt?fc=true&v_id=457475
    23. Creative Image Source: http://www.doubleclick.com/insight/pdfs/dclk_2008benchmarks_0906.pdf 7
    24. Creative Image Source: http://www.doubleclick.com/insight/pdfs/dclk_2008benchmarks_0906.pdf 7
      • Dynamically Assemble Your Ads on the Fly!
      Creative Image Source: http://www.colettelesage.net/ecom/yahoo_smart_ads.jpg
    26. Networks/Exchanges Image Source: http://www.doubleclick.com/insight/pdfs/dclk_2008benchmarks_0906.pdf 6
    27. Networks/Exchanges
      • Don’t Waste a Single Impression!
      Image Source: http://ianthomas.typepad.com/.a/6a00d8341bf6d253ef010535ed1901970b-pi
    28. Behavioral Image Source: http://www.mobilestorm.com/digital-marketing-blog/wp-content/uploads/2008/12/behavioral-targeting.jpg 5
    29. Behavioral
      • Use E-Commerce Data and Focus on Recency!
      Image Source: http://www.cardlytics.com/demobank/
    30. Analytics Image Source: http://www.mvps.org/st-software/Movie_Collection/images/11665f.jpg 4
    31. Analytics
      • Don’t Obsess over the 2% that Convert.
      • Obsess over the 98% that Don’t!
      Image Source: Resolution Media 2009 10,000 Clicks 174 Sales 9,826 Missed Opportunities 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% Percent of Site Visitors
    32. Video Image Source: http://videoegg.com/files/pdf/making_net_work_better_for_brands.pdf 3
    33. Video
      • Slow the Roll and Pay for Engagement!
      Image Source: http://adlab.microsoft.com/Video-Hyperlink/
    34. Search Image Source: http://blog.seattlepi.com/microsoft/archives/173780.asp 2
    35. Search
      • Use Search Data to Inform Other Media!
      Image Source: http://www.google.com/insights/search/#q=mcdonalds%2Cburger%20king%2Cwendys&geo=US&date=today%2012-m&cmpt=q
    36. Social Image Source: http://siteanalytics.compete.com/facebook.com+myspace.com+twitter.com/ 1
    37. Social
      • Crawl Before You Walk & Listen Before You Talk!
      Image Source: http://i192.photobucket.com/albums/z221/agoldman3/Goldman107.jpg
    38. Additional Resources
      • TinyURL.com/Connectual
        • More Color Commentary on the 10 Hottest Areas of Digital Marketing
      • DigitalSeaChange.com
        • Digital Marketing Blog
      • TinyURL.com/adtechChicago
        • 9/1 Keynote Panel “The State of the Industry”
    39. Image Source: http://www.ad-tech.com/chicago/session_detail.asp?refad=1&session=1035
    40. Q & A Image Source: http://www.dietpower.com/images/microphones_314.jpg

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