Social Media and the Lost Art of Marketing Principles

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Every one seems to be rushing to create ‘social media’ campaigns! But what ever happened to the basic principles of marketing which used to guide messaging and media decisions?

Social Media and the Lost Art of Marketing Principles

  1. 1. Social Media and the Lost Art of Marketing Principles September 16th, 2009<br />www.352media.com<br />
  2. 2. Social Media and the Lost Art of Marketing Principles<br />Every one seems to be rushing to create ‘social media’ campaigns! But what ever happened to the basic principles of marketing which used to guide messaging and media decisions?<br />Peter VanRysdam is CMO of 352 Media , a full-service interactive marketing firm headquartered in Gainesville, FL. Peter has been with 352 Media since it was founded in 1999, and helped the company quickly grow into a significant player in the Web Design and Development market by landing several of the company’s larger accounts including American Express, Porsche, and Microsoft. Peter manages all aspects of the company’s marketing efforts including everything from SEO and Social to viral campaigns to 352’s own Web site. <br />www.352media.com<br />
  3. 3. Social Media and the Lost Art of Marketing Principles<br />Basic Principles of Marketing Revisited<br /><ul><li>5 P’s of Marketing
  4. 4. Purchase Funnel </li></ul>www.352media.com<br />
  5. 5. Social Media and the Lost Art of Marketing Principles<br />4 P’s of Traditional Marketing (The Marketing Mix)<br />Product - The physical product or service, including packaging, warranty, etc<br />Price - Accounts for profit margins, competitor pricing<br />People - Customer service, appearance, attitude<br />Promotion – Communication and selling through advertising, PR, etc.<br />Place(ment) – Distribution channels, market coverage, logistics<br />www.352media.com<br />
  6. 6. Social Media and the Lost Art of Marketing Principles<br />Overview of Traditional Consumer Products Purchase Funnel<br />www.352media.com<br />Courtesy of CMOWerks.com<br />
  7. 7. Social Media and the Lost Art of Marketing Principles<br />Top Half of Purchase Funnel: Engage the Prospect<br /><ul><li>Goal of Top Half of the Purchase Funnel is to engage your primary Target.
  8. 8. Target needs clear and precise definition: demographic, geographic.
  9. 9. Need to thoroughly understand what motivates the target to fully engage them.</li></ul>www.352media.com<br />Courtesy of CMOWerks.com<br />
  10. 10. Social Media and the Lost Art of Marketing Principles<br />Bottom Half of Purchase Funnel: Create a Customer for Life<br />Information motives the prospect through a series of actions:<br /><ul><li> First, Purchase Consideration - does the product or service meet my needs/value?
  11. 11. Second, completing the purchase transaction.
  12. 12. Third, creating a satisfied, loyal customer and influential to others in your market.</li></ul>www.352media.com<br />Courtesy of CMOWerks.com<br />
  13. 13. Social Media and the Lost Art of Marketing Principles<br />5 P’s Related to Social Marketing<br />Product - Is it engaging and buzzworthy?<br />Price - Value of the product community is now a factor<br />People - The customer is the new medium. Value of a new, happy customer is higher than ever!<br />Promotion – Product itself drives promotion from within the community<br />Place(ment) – Where does the product fit in your life?<br />www.352media.com<br />
  14. 14. Social Media and the Lost Art of Marketing Principles<br />The “New” 5 P’s of Social Marketing<br />Source: http://www.fastcompany.com/blog/lon-safko/ten-commandments-social-media/five-p-s-social-media-where-do-you-start<br />Profiles – Individual or groups<br />Propagate – Bios, avatars, linking platforms<br />Progress – Measure results (comments, views, followers, friends, retweets, etc.) and adapt<br />Produce – Fresh, engaging content<br />Participate – Stop talking, start listening<br />www.352media.com<br />
  15. 15. Social Media and the Lost Art of Marketing Principles<br />“Participate” done wrong:<br />Bad ratio, low overall considering the market.<br />Last post: June 17th (of this year at least)<br />Really? 30 Tweets since May 2007?<br />Engaging an influencer = good. David Archuleta = bad.<br />Textbook examples of one-sided conversations.<br />www.352media.com<br />
  16. 16. Social Media and the Lost Art of Marketing Principles<br />“Participate” done wrong:<br />Another missed customer service opportunity. <br />And another…<br />…and another.<br />www.352media.com<br />
  17. 17. Social Media and the Lost Art of Marketing Principles<br />“Participate” done right:<br />Admitting you’re a person, not a company!<br />That’s more like it!<br />Pushing the other channels. <br />Fresh content.<br />Actually responding to comments about the company!<br />www.352media.com<br />
  18. 18. Social Media and the Lost Art of Marketing Principles<br />“Participate” done right:<br />Comment from someone with 13k followers at 7:52pm.<br />Reply from SW at 8:57pm.<br />www.352media.com<br />
  19. 19. Social Media and the Lost Art of Marketing Principles<br />“Participate” done right:<br />Comment from someone with 50k followers at 11:55am.<br />www.352media.com<br />
  20. 20. Social Media and the Lost Art of Marketing Principles<br />“Participate” done right:<br />Omni Hotels respond in under a half an hour<br />His follow-up soon after.<br />www.352media.com<br />
  21. 21. Social Media and the Lost Art of Marketing Principles<br />Top of Funnel using Online Marketing and Social Media<br /><ul><li> Awareness Building through Easy Site Navigation, Search Optimization.
  22. 22. Enable Target Prospect to come back to your site easily.
  23. 23. Promote your value proposition in appropriate social media.
  24. 24. Use Social Media to build credibility and provide reference points for your offer.
  25. 25. Enable your prospect to ‘see themselves’ with your product or service.
  26. 26. Clearly communicate your value proposition: what do you get for the money?</li></ul>www.352media.com<br />Courtesy of CMOWerks.com<br />
  27. 27. Social Media and the Lost Art of Marketing Principles<br />Avoiding Marketing Myopia (shortsightedness):<br /><ul><li>“The vision of most businesses is too constricted by the narrow understanding of what business they are in.” – Theodore Levitt, Harvard Business Review 1960</li></ul>www.352media.com<br />
  28. 28. Social Media and the Lost Art of Marketing Principles<br />Marketing Myopia Examples:<br /><ul><li>Railroads fall from dominance by not positioning themselves as transportation companies
  29. 29. Oil companies rebranding as energy companies
  30. 30. Today’s Music industry, Newspapers?</li></ul>www.352media.com<br />
  31. 31. Social Media and the Lost Art of Marketing Principles<br />Social Media Myopia:<br /><ul><li>“Social Media Myopia” applies to promotion and placement
  32. 32. What new channels are available to distribute my brand (not just my product)?
  33. 33. Don’t treat the new channels like the old – tailor your message
  34. 34. Don’t simply copy social media success stories – help the medium evolve</li></ul>www.352media.com<br />
  35. 35. Social Media and the Lost Art of Marketing Principles<br />Social Media Myopia & Evolving Communication Mediums:<br />Source: http://www.baekdal.com/articles/management/market-of-information/<br />www.352media.com<br />
  36. 36. Social Media and the Lost Art of Marketing Principles<br />Dell Avoids Myopia:<br /><ul><li>Dell starts as “PC’s Limited,” a computer OEM w/ print ads
  37. 37. Evolved to “Dell Inc,” a techcompany offering TV’s, etc
  38. 38. Expands to retail sector
  39. 39. Offers time sensitive specials, ideal for twitter users
  40. 40. Recently eclipsed $3m in sales directly attributed to Twitter promotions
  41. 41. Over 600,000 followers, ranking in the top 100 overall</li></ul>www.352media.com<br />
  42. 42. Social Media and the Lost Art of Marketing Principles<br />Bottom of Funnel using Online Marketing and Social Media<br /><ul><li> Build Consideration by offering ‘live’ engagement 1 to1.
  43. 43. Begin to personalize the value proposition based on information about the prospect.
  44. 44. Make the Purchase Process Flawless! And Returns Hassle Free.
  45. 45. Guard Identity and Information – Guaranteed.
  46. 46. Satisfaction Survey 24 hours; Loyalty Offer 30- 60 days.</li></ul>www.352media.com<br />Courtesy of CMOWerks.com<br />
  47. 47. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing:<br />Relationship marketingemphasizes customer retention and satisfaction, rather than a dominant focus on point-of-sale transactions.<br />Source: http://en.wikipedia.org/wiki/Relationship_marketing<br />www.352media.com<br />
  48. 48. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing:<br /><ul><li>Social Media platforms have expanded relationship marketing’s reach vs. cost
  49. 49. Proven methods (face to face) shouldn’t be abandoned (until they’re no longer proven)
  50. 50. Mistakes are more damning than ever</li></ul>www.352media.com<br />
  51. 51. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing Done Wrong:<br /><ul><li>Mistakes are tolerable, silence is not</li></ul>www.352media.com<br />
  52. 52. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing Done Wrong:<br /><ul><li>Mistakes are tolerable, silence is not</li></ul>www.352media.com<br />
  53. 53. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing Mistakes:<br /><ul><li>Habitat’s Response:
  54. 54. Removed offending posts
  55. 55. Reposted specials and offers
  56. 56. Waited over 48 hours to respond to the backlash
  57. 57. Suggested Remedies:
  58. 58. Apologize publically immediately
  59. 59. Apologize to individuals
  60. 60. Offer discount</li></ul>www.352media.com<br />
  61. 61. Social Media and the Lost Art of Marketing Principles<br />Relationship Marketing Done Right:<br /><ul><li>Adobe’s “Real or Fake” Photoshop Campaign- (Increased Facebook fans by 6,000)
  62. 62. Users guessed whether photos were edited or not (5 photos posted per week)
  63. 63. Edited photos then included how-to tutorials
  64. 64. Engaging and educating rather than stale “push” marketing campaign
  65. 65. 6% of players clicked through to “buy now,” while another 6% clicked “share”</li></ul>www.352media.com<br />
  66. 66. Social Media and the Lost Art of Marketing Principles<br />Purchase Funnel Principles with Online and Social Media<br />www.352media.com<br />Courtesy of CMOWerks.com<br />
  67. 67. Social Media and the Lost Art of Marketing Principles<br />In Summary<br />Tried and True Principles for Social Media<br />Target Awareness = Participate<br />Engage/Consider = Avoiding Myopia<br />Customer Loyalty = Relationship<br />www.352media.com<br />
  68. 68. Social Media and the Lost Art of Marketing Principles<br />Thank you for your time!<br />Questions?<br />www.352media.com<br />

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