Web 2.0 Mike Moran

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  • 1. !quot;#$%!&'() Marketing 2.0: How the Web Changes the Old Marketing Rules Mike Moran February, 2008 ***+,quot;#$,&'()+-&, © 2008 Mike Moran
  • 2. !quot;#$%!&'() The good old days in marketing It’s the real thin ! The best creative folks came up with a g great message for a mass market Ca n’t it! Rea Beat ! We tested it against focus groups k e is lT hin the Co g ! We pushed it out there—over and over again ! We hoped they’d buy, but weren’t sure they did I'd like to buy the world a Coke adds life Coke 2 © 2008 Mike Moran
  • 3. !quot;#$%!&'() The 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) 3 © 2008 Mike Moran
  • 4. !quot;#$%!&'() The times they are a-changin’ ! TV, radio, and print are all lagging the Web, especially with younger consumers ! Moreover, the media shift is also a change from passive reception to interaction UK Web usage overtakes TV viewing Japan Has 59% 164 Web minutes per day vs. of All Mobile 148 TV minutes Web Users Source: Google survey March 2006 Source: Univeristy of Japan survey 2005 4 © 2008 Mike Moran
  • 5. !quot;#$%!&'() The 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 reached 5 © 2008 Mike Moran
  • 6. !quot;#$%!&'() Isn’t Web Marketing simple? ! It’s dizzying ! And it keeps changing ! Faster and faster ! How do you cope? 6 © 2008 Mike Moran
  • 7. !quot;#$%!&'() Remember, 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 sales 7 © 2008 Mike Moran
  • 8. !quot;#$%!&'() The difference is how you do it ! Time was that marketing was risky ! Your job was to remove as much of the risk as possible ! But Web marketing rewards experiments rather than deep planning ! Are you feeling stuck? 8 © 2008 Mike Moran
  • 9. !quot;#$%!&'() Attract 9 © 2008 Mike Moran
  • 10. !quot;#$%!&'() Both organic and paid search offer opportunities ! With paid, you bid what you’ll pay for each click ! Organic is the search engine’s best match Paid Search Organic Search 10 © 2008 Mike Moran
  • 11. !quot;#$%!&'() Social 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 marketing 11 © 2008 Mike Moran
  • 12. !quot;#$%!&'() Content-based social media marketing Content sites ! Focuses on the content to be posted and passed around: blogs, videos, photos, news stories, podcasts ! Or bookmarks to the content Bookmarking sites ! Feeds viral marketing 12 © 2008 Mike Moran
  • 13. !quot;#$%!&'() Personality-based social media marketing ! Consumer companies create character profiles, but may not be the best marketing for IT companies ! IT consultants create professional profiles 13 © 2008 Mike Moran
  • 14. !quot;#$%!&'() Interest-based social media marketing ! Communities form around topics of interest, such as message boards and specialty search engines ! IT marketers must get into these conversations ! Maybe social bookmarking sites fit into this category, too 14 © 2008 Mike Moran
  • 15. !quot;#$%!&'() Fantasy-based social media marketing ! Virtual worlds, inhabited by avatars, allow fantasy lives that marketers wish to be part of—Apple, IBM, and other companies already play ! Kids have their worlds, too, but IT marketers can safely ignore them 15 © 2008 Mike Moran
  • 16. !quot;#$%!&'() Social media marketing can be planned ! Choose interesting topics for your stories—just like good old public relations ! Use good titles and descriptions—just like <title> search marketing ! Make it easy to bookmark, unless you think that’s cheesy 16 © 2008 Mike Moran
  • 17. !quot;#$%!&'() Except when it can’t be planned Sometimes you just need to react to your good fortune 17 © 2008 Mike Moran
  • 18. !quot;#$%!&'() Remember that social media uses a community ! Get to know the community ! Give back to the community ! Let the community spread your word ! You can’t force it It Takes a Village 18 © 2008 Mike Moran
  • 19. !quot;#$%!&'() Listen 19 © 2008 Mike Moran
  • 20. !quot;#$%!&'() Web 2.0 now makes marketing a conversation ! Readers comment on your blogs ! They change your wikis ! The create blogs of their own ! They create “hate” sites if they don’t like you ! They produce mashups of your content and functions Web 1.0 users were consumers Web 2.0 users are participants 20 © 2008 Mike Moran
  • 21. !quot;#$%!&'() Putting customers in control ! Manufacturers are beginning to allow customers to rate their products and provide written reviews—right on the manufacturer’s site ! Customers are going to look for reviews before buying anyway ! Why not keep those customers on your site? 21 © 2008 Mike Moran
  • 22. !quot;#$%!&'() Marketers must give up message control ! We don’t control the message ! The message is changed, rebutted, and misconstrued by our audience ! We must modify what we say in response ! And, the message crosses country borders 22 © 2008 Mike Moran
  • 23. !quot;#$%!&'() The 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. 23 © 2008 Mike Moran
  • 24. !quot;#$%!&'() What if you’re not real? Customers ignore you. ! Hype-laden prose is a holdover from print—it doesn’t persuade Web customers ! Some companies have been caught creating flogs: ! Wal-Mart ! Sony 24 © 2008 Mike Moran
  • 25. !quot;#$%!&'() What if you’re not relevant? Google ignores you. Search marketing yields the lowest cost per lead (and the most qualified leads) So that’s where the money is going (and this chart shows only paid search fees) 25 © 2008 Mike Moran
  • 26. !quot;#$%!&'() And if you’re unresponsive? Customers flame you. ! Accept comments and trackbacks on your blogs ! Allow your products to be rated and reviewed ! Staff your efforts with enough people to respond 26 © 2008 Mike Moran
  • 27. !quot;#$%!&'() Watch 27 © 2008 Mike Moran
  • 28. !quot;#$%!&'() Imagine a catalog marketer who said to the boss… ! I shipped February’s catalog on time ! And under budget ! Customers like it ! And it looks beautiful ! Wanna see it? But that’s all we say about our Web sites—where are the metrics? 28 © 2008 Mike Moran
  • 29. !quot;#$%!&'() How can you drive demand for your products? Visitors 1000 Conversion Rate 1% Conversions 10 Base 29 © 2008 Mike Moran
  • 30. !quot;#$%!&'() How can you drive demand for your products? Increase your conversion rate Visitors 1000 1000 Conversion Rate 1% 2% Conversions 10 20 Base 30 © 2008 Mike Moran
  • 31. !quot;#$%!&'() How 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 Base 31 © 2008 Mike Moran
  • 32. !quot;#$%!&'() How can you drive demand for your products? Increase your conversion rate Increase your traffic Or both Visitors 1000 1000 2000 2000 Conversion Rate 1% 2% 1% 2% Conversions 10 20 20 40 Base 32 © 2008 Mike Moran
  • 33. !quot;#$%!&'() What 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 link 33 © 2008 Mike Moran
  • 34. !quot;#$%!&'() What is your Web Conversion cycle? For your site? Land Online PC Consulting? Land Sales? e Learn at Learn b or lla Use Co Le Shop Engage Get Select Buy Some sites lead to offline activity 34 © 2008 Mike Moran
  • 35. !quot;#$%!&'() Use your cycle to measure conversion value ! Finding the right product Land page puts the visitor in the “Learn” stage. Learn ! How many customers that Use view a product page put items in their carts? Shop ! And how many check out? Get ! Multiply by your average Buy revenue and you have the impact on revenue. Increasing the success rate at any stage increases the overall conversion rate 35 © 2008 Mike Moran
  • 36. !quot;#$%!&'() How do you track offline conversions to the Web? ! The easiest way is for you to contact the customer ! If the customer switches channels, entice the customer to: ! Print the product’s specifications to bring to the dealer ! Print a coupon to present at the retailer ! Call a special phone number 36 © 2008 Mike Moran
  • 37. !quot;#$%!&'() Which 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? 37 © 2008 Mike Moran
  • 38. !quot;#$%!&'() Should the shopping cart be on the left or right? A/B testing decides 38 © 2008 Mike Moran
  • 39. !quot;#$%!&'() Respond to your customers ! Change your products Learn Use ! Change your content Shop ! Change your prices Get ! Change your policies Buy ! Change your experience Which changes increase ! Then, change them again your conversions? Customers vote with their mice 39 © 2008 Mike Moran
  • 40. !quot;#$%!&'() Respond to the world ! When the public complains, change ! Math textbook publishers ignored criticism by mathematicians and parents and had their books removed from state curricula ! Pharmaceutical firms ignored safety concerns and had their drugs later withdrawn by the FDA ! The public is now part of marketing— environment, immigration, stockholders— remember that you are doing everything in public now ! It’s no longer just a problem for the public relations and media contacts 40 © 2008 Mike Moran
  • 41. !quot;#$%!&'() Do it wrong quickly and then fix it ! Instead of killing ourselves to plan exactly the right thing that we can execute in every country for the next two years… ! …Do it wrong quickly, and then fix it ! Let the market tell you what works and what doesn’t ! And then quickly do it better Listen, learn, and adjust 41 © 2008 Mike Moran
  • 42. !quot;#$%!&'() Read all about it ! “Buy this book, read it, and then read it again.” !quot;#$ --Chris Sherman, Search Engine Watch %#&'(quot;$ ! Updated at each printing )&'*#+,-.$ /#%+$%#00#' Available now ! “Great book.” --Robert Scoble, Scoblizer blog For more information about the ! “Act now and read books, and for the free Biznology it.” newsletter and blog: --Bryan Eisenberg, Author of #1 best seller Waiting for Your Cat to Bark? www.mikemoran.com 42 © 2008 Mike Moran