Social Media Forum “Launching New Offerings in a Social World”

IntroductionsAnne MerkertJeff ThompsonReena Kapoor

AgendaMarketingTarget MarketMessaging & Demand GenerationCompetitionQ&A

Marketing: Same Old, Same Old…ProductPricePlacePromotionRadically empowered consumers – way ahead of marketers!Only 14% of CMOs globally have been in their jobs for over 3 years!

So What’s different?“Rather than Product, Place, Price, and Promotion, we ought to be thinking in terms of Experience, Everyplace, Exchange, and Evangelism”Brian Fetherstonhaugh, Chairman & CEO of OgilvyOne Worldwide at AdTech 2007

Advice to MarketersExperienceDo your customer journeyEverywhereCreate an idea that doesn’t start with (just) traditional mediaExchangeCalculate the value of your customerEvangelismBring passion to your brand – “The Big Ideal”

Still have to think about…Target MarketWho, Where, HowDifferentiationMeaningful, Value, CompetitiveMarket Development, Distribution, Channel Stage of CompanyDemand GenerationReach, Frequency, Monetization, ROI

Formulating a Social StrategyForrester’s POST Methodology from “Groundswell”P is PeopleO is objectivesS is StrategyT is TechnologyAnd another “S” needs to be considered….

Target markets

Target Market Strategy: Overlaps!

Target Market CriteriaLarge, Growing numbers of users? Willing, able to exchange Value? Monetize-able? Large & Growing Real Need/Want? Anticipated? Articulated? Desirable User (Social Media) Characteristics? Unmet NeedEasily, cost-effectively, Reachable?Via other Users, Influencers, “Amateurs”?“Share of Attention”ReachableDifferentiate? All “E’s”? Who is Competition? Substitutions good enough?DifferentiationResources, Assets to reach, convert, support?Social Media impact, use & response?Company Strength

Large, Growing numbers of users?

Willing, able to exchange Value? Monetize-able?

Real Need/Want? Anticipated? Articulated?

Desirable User (Social Media) Characteristics?

Easily, cost-effectively, Reachable?

Via other Users, Influencers, “Amateurs”?

“Share of Attention”

Differentiate? All “E’s”?

Who is Competition? Substitutions good enough?

Resources, Assets to reach, convert, support?

Social Media impact, use & response?

Messaging & demand generation

Messaging: still have to think about . . . Target AudienceFrame of ReferencePoint of Difference

Value PropositionClearly relevant & appealingHighly differentiated from competitionCredibleElastic enough to support product expansionSimple

Impact of Social Media on MessagingMessaging is more conversational, less formalKeeping it simple is even more importantYou can research & test with immediate feedbackMarketing is not the only owner of messaging

Social Media Messaging Example

Demand Generation DesignWho is the target audience?How do they want to be communicated with?What offers are they expecting?After they respond to the first activity and offer, what happens next?What happens if they don’t respond?How will our activities and offers help qualify prospects?

Target Market Persona

Tactics

Integrated CampaignAwarenessPreferencePurchase“Free” ContentPRThought leadershipBlogsSocial networkingSyndicate contentEnable UGC Awareness, Leads, Brand SEOSEMBanner adsOnline events, video contestWoM or “Buzz”Leverage CRM for nurturingProduct DemoSign up for free versionCompany Blog and Landing PagesConversion to premium

PR

Thought leadership

Blogs

Social networking

Syndicate content

Enable UGC

SEO

SEM

Banner ads

Competition

Social Media and Competitive StrategyKey Steps in developing competitive strategy?Social Media impact?Social Media create differentiation?

Key Steps in Competitive StrategyIdentify the CompetitionCompetitive S W O TValue Proposition ComparisonExpose, Define The “Space” You Will OwnCompetitive Positioning

Identify the Competition – Big and SmallYour Solution:Online Multimedia PlatformOnline Video Providersand Hosting ServicesPresentationSolutionsWeb and Audio Conferencing Solutions

Map Your Competitive ApproachCompleteCompetitive SWOTDecide what to “own”Position for DifferentiationWhy did you pick this sub-segment to own?Why are you better?Is you message “echoing” the conversations?Categories and CompaniesStrengths Weaknesses Opportunities ThreatsCompetitor weaknessesEasy targets (active social media environments) Search for “confusion”

Why did you pick this sub-segment to own?

Why are you better?

Is you message “echoing” the conversations?

Categories and Companies

Strengths

Weaknesses

Opportunities

Threats

Competitor weaknesses

Easy targets (active social media environments)

Search for “confusion”

Social Media Impact on Competitive StrategyFaster FeedbackAccelerated MarketingUser Experience as Differentiation

Faster FeedbackMany more places to search for opinionsFacebook, Twitter, Forums, Blogs (comments)Google: “company name” + “sucks”On demand market research Post questions, immediate feedbackTest ideas, positioning directly with buyersDirect view into buyer / competitor interactionsAbility to directly inquire about likes and dislikes

Accelerated Marketing Ability to quickly change positioningFaster reaction to competitive movesGet a head start on new segments where “discussion” is light or nonexistent

User Experience as DifferentiationFrequency of interaction with customers increasesCustomer experience is expanded!You can differentiate your company by ensuring positive interactions wherever possibleLead the discussions (don’t just participate)Force competitors to follow: “what are you doing about ABC…”

Q&ATHANK YOU!reena@ConiferInc.comjeff@AventiGroup.comanne@AventiGroup.comNext Event: Leveraging “Crowdsourcing”: NexGen Innovation & Marketing!NorCal BMA Product Marketing & Management RoundtableNovember 19th Thursday, Palo Alto, 8:30-10amhttp://norcalbma.org