Marketing Jam 09 - Roadmap For Digital Success - Steve Latham


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Overview of what companies are doing to leverage digital media in 2009. Prepared for Marketing Jam '09.

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Marketing Jam 09 - Roadmap For Digital Success - Steve Latham

  1. 1. Roadmap for Success in Online Marketing Steve Latham Founder & CEO
  2. 2. Question #1 How important is the Web as a marketing channel for your business? Not Important Somewhat Important Very Important!
  3. 3. Question #2 How would you rate your current online marketing capabilities What capabilities? We got some game WE ROCK!
  4. 4. Question #3 What is your #1 online marketing goal? E-Commerce and/ Brand Building or Lead Generation Customer Sales Support Communications
  5. 5. My goals for today… Provide some useful data points Prescribe a Roadmap for Success Explain how to measure ROI And if that doesnʼt work… ...Iʼll try to impress you with graphics and animation
  6. 6. Consumer Behavior is Changing… Web accounts for >30% of media time (1) We’re #2! Online is becoming the medium of choice   #1 medium among under 30 (2)   15 million seniors online (growing fast) 50% of online time = “communitainment”   Community, Interaction, Entertainment   Enabled in part by Social Media (1) Credit Suisse, 2006 (2) Forrester 2006
  7. 7. Media Landscape is Changing… In one word… fragmentation   1966: 5 mediums dominated   2006: 30+ mediums TV no longer offers same reach   1977: 70% reach  3 commercials   2007: 70% reach  184 commercials   >50% of primetime TV is time-shifted (Most) print news circulation is declining Radio losing share to Satellite + iPods Direct Mail is losing effectiveness
  8. 8. What This Means to Us (Marketers) “Prime-Time” has been replaced by “My Time”   Consumers choose when and how they engage Web impacts all businesses   While only 3% of retail sales are done online…   Web influences 25% of offline sales(1)   70% of searchers purchase offline   p.s. they spend more in-store Customers have high expectations   They expect to find “it” quickly and 
 easily…regardless of device Customers have more options   Competitors are only clicks away
  9. 9. What To Do in Troubling Times? Weak economy  shrinking budgets Increases focus on ROI   Leads, Transactions, Revenue Follow lead of savvy brands   Shift budgets to digital   Focus on proven methods   Test, Test, Test
  10. 10. Start With a Foundation Optimize Site Usability and Effectiveness   Good User Experience + Effective Branding + CTAs = $$$ Establish metrics and system for measuring results   Focus on metrics that indicate intent to purchase Search Engine Marketing   Engage customers who are “in the market” Email marketing   Cultivate long term relationships Site Usability Metrics Search Email
  11. 11. Whatʼs Next? ??? UGC Mobile Social Media Display Video Site Usability Metrics Search Email
  12. 12. …if youʼre interested in Social Media What the #*&@%# ???
  13. 13. How to Play in Social Media Participate in online discussions   Start posting on other sites   Be transparent: Get on LinkedIn, Facebook and Twitter   Low-cost way to reach and engage audiences   Make sure you have resources to market it! Invite a dialogue on your site   Invite users to Rate, Review and Participate in discussion   Market like crazy!
  14. 14. What To Measure? Basic Metrics Engagement metrics   Impressions   Frequency of visit   Clicks / Visits   Pages viewed per visit   Page views   Time on site   Registrations   Transactions Web 2.0 Metrics   Posts / Participation   Viewing Videos or Photos   Uploading content   Sharing / Posting
  15. 15. Take a Holistic View Some results are directly traceable… but many are not!   Due to cookie deletion and multiple machines Case Studies: •  Retailer: display campaign drove 30% increase in traffic •  Bank: Saw 4 “untraceable” actions for every traceable 1 action Create a baseline 
   for comparison Agree upfront how to 
   attribute credit
  16. 16. Communicate in a Way that Works Communicate Results, not data Daily and Cumulative Leads Executives LOVE Dashboards! Cost per Lead by Campaign # Leads by Outlet Outlet Summary
  17. 17. How Do We Value Engagement? Determine how Actions  Intent Action Value Visits Indicates awareness Registrations Indicates consideration Store lookups Indicates preference Coupon Downloads Indicates action Tell A Friend Indicates loyalty Forecast how Intent  $$$   Some % of those who show Intent will buy Do the math and apply across each set of actions Use common sense to normalize results
  18. 18. A Quick Example Investment $10,000 Impressions ($5 cpm) 2,000,000 Visits (direct and indirect) 10,000 Registration (lead) rate 3% Lead Close rate 10% Revenue per customer $2,500 Expected Results: Another way to view •  300 leads it: •  30 customers • Value per visit: $7.50 •  $75k in revenue •  $7.50 ROAS* • Cost per visit: $1.00
  19. 19. In Closing… We all know the value is there… …we need to focus on what works …we need to quantify the results Success requires…   Methodical approach   Analytical rigor   Creativity   Common sense Today Iʼve showed you one approach   Many others exist – feel free to share! Letʼs stay in touch!   Check out my blog   Join me on Facebook and LinkedIn   Email me
  20. 20. 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, Southwest Airlines, The Scooter Store, and Halliburton. Steve is an accomplished industry lecturer and an active member of the business and non-profit community. Steveʼs articles on interactive strategies have been published by MediaPost and iMedia Connection and he has been quoted in PR Week, B to B Magazine, Fortune and Steve received an MBA from Harvard Business School and a BBA from the University of Oklahoma. You can find Steve on Facebook or email him at . 20
  21. 21. SPONSORED BY