University of Washington Guest Lecture - Entrepreneurial Marketing

Online Marketing – Version 2.0 Marketing your business across the new landscape of the Web.

Today I’ll Talk About
Online advertising trends and challenges
Using the Web to gain exposure
Online advertising 101 (media you buy)
Evaluating three example campaigns
Tools to use
Social media marketing (media you earn)
Examples of social media marketing
Tracking and measuring

Online Marketing Version 2.0
Then
Banners
1-2 ad networks
Category/site targeting
“ bought” media
Now
Text, display, video, viral
>400 ad networks
Incredible targeting
“ earned” media

US Online Ad Market Size Actual Estimated

Display vs. Search Advertising
Display Advertising
Untargeted
25x volume of search yet half the market share
83% sold <$1 CPM
Search Advertising
Targeted
$81.65 revenue per 1000 searches
Growth lies in targeting people and behaviors. Search Display

Overall Trends
Focus on performance and ROI
Continued market growth
2006 online ad spend per household was $217:
$980 for newspapers,
$980 for telemarketing, and
$576 for direct mail
Self-service
Better targeting
“Earned” media

The People-Driven Web
Business-driven  people-driven
Authentic and open communications
No one has control!

Earned Media
Word of mouth
Social media marketing
PR
Media interaction
Email forwarding
Media attention earned the hard way, not bought.

Challenges and Opportunities
Signal/noise ratio
Capturing and holding attention
“Banner blindness”
Nothing works continually
More free exposure venues
No limit to what can work; blank slate
Easy and cheap to test different approaches

Paid Media Online Advertising 101

Online Advertising Eco-System Advertisers want to reach people. Web sites are the proxy. 80% of ad inventory flows thru networks. Advertisers / Agencies Publishers Ad Networks Optimizers Online Consumers

Rate Structures
Objectives
Performance
Brand
Rate structures
CPM (cost per thousand impressions)
CPC (cost per click)
CPA (cost per action)
CPV (cost per view)
Sponsorships (cost per time period)

Targeting Options
Traditional
Geographic location
Demographic
Site
Category/channel
Search keywords
Day part
Newer
Interest/affinity
Context
Commercial intent
Persona
Social graph
Influencers

Where to Buy
Specific Web site
Ad network
Format (text ad, video, display, etc.)
Vertical (sports, travel, etc.)
Publisher type (blog, community, owned, etc.)
Targeting (behavioral, contextual, demo, etc.)
Rate type (CPA/affiliate, CPM, CPC, etc.)

Elements of a Campaign
The advertisement (creative)
The landing page
The call to action
Continual optimization
All of the above

Tracking and Measuring ROI
Define your “return” in the form of an “action”?
Registration
Purchase
Monetary value
Measure cost per action against monetary value
Simple example: selling UW t-shirts

Optimizing Your Campaign
Measure, compare, change …
Campaign funnel
Creative (click through rate)
Landing page (click through rate)
Web site funnel
General usability (eliminating points of friction)
Catalog navigation
Ease of purchasing

Tools to Use
Google AdSense
Messaging
Keywords
Landing page optimization
Google Analytics
Compare all your advertising sources
Count impressions, clicks, etc.
Creative optimization
Landing page optimization
A/B and multivariate testing

“ Earned” Media

Earned Media is “Linkbait”
Funny, useful or controversial content
People online are bored!
Examples
Videos
Widgets
Games
Blog posts
Pictures
Facebook status updates
Twitter posts
Emails
Craigslist postings
Contests

Earned Media
Benefits
Can be enormously effective
Can be extremely easy/cheap
Helps with SEO
Helps attract/keep people’s attention
People remember it
Challenges
No recipe for success
Can go horribly wrong
Posers get nothing

Example: KogiBBQ
http://twitter.com/kogibbq
24,000 followers

Example: Seattle 2.0
http://www.seattle20.com
>25K Web site visitors/month
PR, word-of-mouth, and social media
Facebook group
Seattle Startup Index, top blogger index, etc.
Blog posts, twitter posts, etc.
First event drew over 300 people @ $50/ticket

Example: Monk-e-mail

The Monk-e-mail Pitch
2 spots on the Superbowl
$5MM cost
10M people exposed for 30-60 seconds (but not engaged)
One viral campaign
$250K cost
30M people interacting for 8 minutes

Earned Media Advice
Contribute
Write interesting content frequently
Comment on other blogs
Be generous with links
Be authentic!
Build your audience
Linkbait
Content that people just naturally link to and share
Funny, useful or controversial
Spend time on it. Put value into it.

New Forms of Measurement

“Buzz” and Sentiment Measurement
Monitor chatter about your product/brand
What people are saying
Where people are talking about you
Overall sentiment trends

Friends, Followers, Votes, Retweets

The Power of Passed Links
20% of site visits from links shared (earned)
14-24 year old demo
88% of links followed were sent to them by friends
2-4x increase in conversion rates
http://meteorsolutions.com/?fbid=TY2Xsky3p5I

Conclusion
Use search engine marketing to:
Test your messaging
Optimize your creative, landing page conversion, funnel, etc.
Use social media to reinforce your messaging
SEO “link juice”
Just be authentic and contribute value
Develop a following and keep at it
Continue with other forms of paid online marketing, optimizing for ROI

Jordan Mitchell
Email: [email_address]
Blog: http://kickstand.typepad.com

University of Washington Guest Lecture - Entrepreneurial Marketing

by Jordan Mitchell on May 20, 2009

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