Marketing in the Oilfield - 2010 roadmap


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"Marketing in the Oilfield" was presented at Gulf Publishing's 2010 energy marketing event. If you'd like a soft-copy please contact me via Twitter, LinkedIn for Facebook. Thank you!

Steve Latham

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  • ’Marketing in the Oilfield’ was presented at Gulf Publishing’s 2010 energy marketing event. This presentation builds upon the Online Energy Marketing presentation I gave at the same event in 2009. To view please visit

    If you’d like a soft-copy please contact me via Twitter, LinkedIn for Facebook. Thank you!

    Steve Latham
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Marketing in the Oilfield - 2010 roadmap

  1. 1. Roadmap for Success in 2010: ! Interactive Strategy for Energy Marketers August 2010 Steve Latham! @stevelatham 1
  2. 2. Takeaways from MITO 2009 1.  Online is a Must 2.  Start with a Foundation -  Research, business case, strategy, metrics 3.  Build on top of it -  Site usability -  Branding -  Communications -  Interaction (engagement) -  Integration 4.  Business Case for Social Media 5.  Pitfalls of Social Media (and how to avoid them) 6.  Best (and Worst) Practices View Online at 2
  3. 3. New Challenges for 2010   Shift in focus: responding vs. brand-building   Budgets are (still) tight   Information Overload (how to sift and prioritize?)   Work overload (too busy to plan?)   Measuring ROI 3
  4. 4. What We’ll Cover Today   Creating Demand for Your Brand   How to think about paid, earned and owned media   Measuring results and calculating ROI   Best (and Worst) Practices 4
  5. 5. Creating Demand for Your Brand You can’t win by harvesting demand… You must create it. To win customers, they must know:   Who you are   How you are uniquely positioned   Why they should choose you Success requires passage through the conversion funnel Awareness Interest 
 (Consideration / Preference) Decision $$$ 5
  6. 6. Creating Demand for Your Brand Demand is best created by utilizing… Owned Earned Media Paid Media Media Rules of thumb:   Display and 3 party email are best for creating awareness rd   Search works best for capitalizing on awareness   Social media does both, but reach may be a challenge 6
  7. 7. The Solution (?) There is no silver bullet Success requires an integrated approach 7 Attribution and ROI Measurement 7
  8. 8. How Most View Online Media Mix* Search Display E-Mail Social Mobile Paid + Rich, Flash, House & 3rd Networks, Blogs, SMS, Sites, Natural Video, .Gif Ads Party email Photos, Videos Apps, Ads Leads Prospects Sales $$$ 8
  9. 9. How We Should View Online Media Awareness Interest 
 (Consideration / Preference) Decision $$$ 9
  10. 10. Roles of Online Media Search Display E-Mail Social CPC CPM/CPC/CPA CPM/CPA ??? Stage Search Display Email Social Awareness Broad terms Targeted ads 3rd party Follow sends Interest Narrow terms Targeted ads Direct sends Like, Mention Decision Branded Retargeted Targeted Recs, terms ads offers Reviews 10
  11. 11. Measuring Results   Direct KPIs   Attributable results 11
  12. 12. Direct KPIs Basic Metrics Engagement metrics   Impressions   Pages viewed per visit   Clicks   Time on site   Visits   Goal Pages   Page views   Registrations   Transactions Social Media Metrics   Follows / Fans   Likes / Comments   Mentions   Viewing content   Sharing / Posting 12
  13. 13. Attributing Credit: The New Imperative   Decision cycles are not linear   Users often make multiple before taking action   Most “conversions” take place after multiple touches, e.g.: •  5-7 impressions precede a visit •  2-3 visits precede an action   Credit usually attributed to last click   Design limitation of analytics platforms   Rewards Search   Punishes Display, Email and Social   The Goal:   Understand which touch points precede each action   Assign value to those touch points (“Attribution Analysis”) 13
  14. 14. Sample Engagement Path What we can measure via ad server and site analytics: Impression Impression Impression Impression Visit Visit Visit / Action Display Display E-Mail Display Paid Organic Direct Nav Vendor #1 Vendor #2 3rd party Vendor #3 Search Search Category term Brand / Geo Day: 0 15 30 The “direct” lead was preceded by numerous ads - Without this insight, you may kill a smart media buy The next BIG thing: incorporating Social engagement - Coming soon! 14
  15. 15. Attributing Credit: Paid Media Step 1 - Recast Actions* by Source (*actions = visit, conversion etc.)   Quantify the number of touches that preceded each action   Assign value to each touch point (e.g. 7 impressions = 1 click)   Recast the number of touches and assign credit proportionally   See a more accurate picture of Display’s impact on results Lift: 300+% Attribution and ROI Measurement 15
  16. 16. Attributing Credit: Paid Media (cont.) Step 2 – Based on Recast Actions, calculate revised Cost Per Action for each Source Drop: 70%+ 16 Attribution and ROI Measurement 16
  17. 17. 4. Translate Results Into Value To measure ROI, you first have to calculate the value Determine how Actions  Intent (offline purchase) Action Value Site Visits Indicates awareness Goal Page Views Indicates consideration Long Visits Indicates consideration Conversions Indicates preference Forecast how Intent  $$$   Some % of those who show Intent will buy   Do the math and apply across each set of actions   Use common sense to normalize results 17 17
  18. 18. Calculating ROI AWARENESS
 (Long Visits, Goal page views) PREFERENCE
 (Register) 18 18
  19. 19. Worst & Best Practices in Energy Marketing Worst Practices Best Practices One-off efforts Strategic Plan Hunting Fishing Shouting Listening and Interacting Limited Reach Building Networks Engaging like a marketer Becoming part of community Silo approach Integrated program Last-click analysis Attribution analysis Unrealistic Expectations Under-promise, Over-deliver Empire building Outsource to experts 19
  20. 20. Thank You! View this presentation online at Let’s stay in touch!    Twitter @spurinteractive  20 20
  21. 21. About the Presenter Steve Latham is the founder and CEO of Spur Interactive, a strategic interactive marketing agency. In this role, Steve has planned and managed successful campaigns for leading brands, including ConocoPhillips, FedEx Kinko's, Continental Airlines and The Scooter Store, to name a few. Steve is an accomplished industry lecturer and an active member of the business and non-profit community. Steve’s articles on interactive strategies have been published by MediaPost, iMedia Connection and Marketing News. He has been quoted in PR Week, Fortune and Steve received an MBA from Harvard Business School and a BBA from the University of Oklahoma. 21