Digital Marketing in a Downturn - eBizITPA Presentation
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Digital Marketing in a Downturn - eBizITPA Presentation Digital Marketing in a Downturn - eBizITPA Presentation Presentation Transcript

  • Digital Marketing in a Downturn eBizITPA – March 26, 2009
  • The old playbook… ―…build a recession ―…response to the   marketing plan based recession varies by on the firm‘s strategic geography, sector and capabilities‖ firm size‖
  • Source: Justin Kirby & Paul Marsden (2006). Connected marketing. Oxford, UK: Butterworth-Heinemann. xix Crisis In Mass Marketing 18%: Proportion of TV advertising campaigns generating positive ROI  54 cents: Average return in sales for every $1 spent on advertising  256%: The increase in TV advertising costs (CPM) in the past decade  84%: Proportion of B2B marketing campaigns resulting in falling sales  100%: The increase needed in advertising spend to add 1-2% in sales  14%: Proportion of people who trust advertising information  90%: Proportion of people who can skip TV ads who do skip TV ads  80%: Market share of video recorders with ad skipping technology in 2008  95%: The failure rate for new product introductions  117: The number of prime time TV spots in 2002 needed to reach 80% of  adult population – up from just 3 in 1965 3000: Number of advertising messages people are exposed to per day  56%: Proportion of people who avoid buying products from companies who  they think advertise too much 65%: Proportion of people who believe that they are constantly  bombarded with too much advertising 69%: Proportion of people interested in technology or devices that enable  them to skip or block advertising View slide
  • Source: Marketing Leadership Council - www.mlc.executiveboard.com View slide
  • Reprioritize marketing vehicles Reevaluate the  effectiveness of current vehicles Shift 10-15% into new  media Conduct a marketing  audit, don‘t just do guesswork
  • Where Everything Is Headed Today Digital Non-Digital 1996 2009 2050? Source: Google
  • Over Half of Online Adults… 75% of online adults  18-24 have a profile on a social network site 57% of online adults  25-34 have a profile on a social network
  • All the Digital People
  • The Writing is on the Web Forrester: By 2008, online marketing activity will be more  ubiquitous that anything except in-person events (including sales calls!) DMA: In 2008, online marketing efforts will be the dominant  media for B2B initiatives CMO Council: B2B decision makers spend 5+ hours every  week researching product information online KnowledgeStorm: 89% of business & IT professionals state  that online content has a major impact on their vendor preference and selection In 1965, it took three TV ads to reach 80% of adults by  2002, it required 117
  • Popular Digital Marketing Tactics Source: Forrester, August 2008
  • 360 Digital Marketing World Online eNewsletters Email Real Simple eMail eCards Media Syndication (RSS) Content Partnerships News Community sites Syndication Special Manifestos Blog Search Engines Interest Conversations Blog Aggregators Blogs Chat Search Engine Rooms/Events Citizen Optimization Photo Blogs Action Keyword Listservs eAlerts Marketing Message Boards Search Meetups Text-messaging Press Rooms Online Web Sites Viral Games & IM w/RSS Content Contests Advertising Wikis Folksonomy Digital Radio Social VBlogs Bookmarking Podcasting Webcasting Digital Phones DVR Game Devices PDAs Microcasting (Tivo) Consoles Source: Ogilvy
  • The Digital Sales Funnel Source: InTouch
  • The Conversational Sales Funnel marketer generated consumer generated be aware talk form opinion consider buy use ?? ? ? ? directories search crm advertising, PR, publishing wom/ social networks educational marketing event and sponsorship marketing games mobile marketing Source: Digital Voodoo
  • Six Digital Strategies for Surviving the Downturn Make it ALL Accountable 1) Build Your Addressable Customer Base 2) Digital Intimacy (stay close to your customer) 3) Start and Keep doing Search (SEM+SEO+SMO) 4) Engender Trust 5) Don‘t ignore the power of Social Media 6)
  • 1. Digital Accountability “Marketing executives are seeking accountability and measurable results. Data-driven marketing is an increasingly important component of corporate marketing campaigns.” —Mike Iaccarino, chief executive, Epsilon, in a press release Even online marketers show room for improvement in accountability. In a Marchex-commissioned survey conducted by Sterling Market Intelligence in October 2008, only 25% of national advertisers said they were measuring ROI for their online marketing campaigns.
  • Success Metrics Reach   How many hear your message? Acquisition   Who’s attention did you get? Conversion   What information did you gather?  Who can you contact as a “lead”? Retention   Who follows you after the acquisition?
  • Build Your Value Funnel Define your critical actions  Map against your sales  process/sales funnel Track to conversion  Wash, rinse, repeat 
  • 2. Build Your Addressable Customer Base Everything = Data, ―CRM mentality‖  Capture mechanisms at every turn (capture  attention & capture data) Get comfortable with the data – it‘s all about the  data! Setup data-driven trigger points to nurture your  prospects along For Example: In 2001, ADC communications, a competitor to Lucent, Cisco and Nortel saw it’s sales degrading to the point of a 27% dip. The immediately retrenched, changed course, implemented a recession marketing & sales strategy and gained market share on each of their major competitors that they retain to this day.
  • Jeep‘s ―Jeep 2.0‖ Strategy Portals (using contextual/Google and behavioral/AOL targeting) 1. An IM avatar development program 2. Online video - A new campaign site which was redesigned to host 3. rich-media offerings like video vignettes Virtual quot;test drives― 4. Ads on free music download sites with viral marketing (pass this 5. song on to your friends capability) Microsites 6. Traditional TV with product placement 7. Events and bowl games - An online fantasy football sponsorship 8. w/print component Print ads 9.
  • Jeep – The way beyond trail A choose your own adventure  interactive film User integrates him/herself directly  into the video and story reflects their personal registration selections Program provides clues in exchange  for ―tell a friend‖ Product directly integrated and  demonstrated through plot line of film
  • 3. Digital Intimacy Build your tribe  E-Mail: Still a Great Medium for Staying in Touch  Meet them in their medium  Build brands & communities  of fans, don’t just advertise This is the paradox of ambient awareness. Each little update — each individual bit of social information — is insignificant on its own, even supremely mundane. But taken together, over time, the little snippets coalesce into a surprisingly sophisticated portrait of your friends’ and family members’ lives, like thousands of dots making a pointillist painting. - Clive Thompson, NYT Magazine
  • Build Community in Niche Networks Beyond Students Over 350,000 pets Approx. 700 new each day My Space Politics Moms Investments Real Estate
  • 4. Start and Keep doing Search (SEM+SEO+SMO) Search provides a strong, highly  measurable ROI for marketing dollars spent. Search garners click-through rates that  exceed all other forms of online advertising. Search offers marketers the potential for  immediate sales online, as well as for online and offline sales at a later time. Search can even enhance brands.  Over 80% of consumers and  businesspeople engage in on a regular basis
  • Search is Integrated…so Integrate It! (almost) Everything  digital/web based can contribute to search Integrate search  components into ALL of your marketing (PURLS, ―Google This‖
  • Engender Trust Trust is the currency of brands, and it has never been harder to  create or hold on to. Reviews, recommendations, friends, experts, thought  leadership…all trusted! Do everything you can to make your product and customer  service as good as they can possibly be. Emphasize listening over loud-speaking.  Adapt your marketing messages to be more real.  Consider building a community where consumers can weigh in.  Take the bold move of embracing customer ratings and  reviews.
  • Trusted Sources
  • Become a Thought Leader Be Generous With Your Knowledge   Share beyond the marketing speak Be Consistent   Calendar your activities – daily, weekly, monthly routine Always Deliver Value   Listen, think, revise, teach, repeat Take A Stand   Take your strong positions to market Focus On The Long-term Benefits   Track your results in months & years
  • Engage in Social Media ―Social Media is people having conversations online.‖
  • The conversations are powered by… Blogs  Widgets  Micro Blogs  Online Chat  RSS  Social Networks  Social Bookmarks  Message Boards  Podcasts  Video Sharing Sites  Photo Sharing Sites  Virtual Worlds  Wikis  (…just to name a few)
  • A Few Examples
  • Social Media for Small Business Caminito Argentinean  Steakhouse is a single- location restaurant in Northampton, Mass Using a website, local ads,  blogging, video, Twitter, MySpace and other digital tools to drive business
  • Just Your Average Social Media Steakhouse… In addition to the blog, Caminito leverages social media by the following means: Prime cuts blog and YouTube TV channel, including videos on Viddler  Consistent PR  A monthly e-newsletter is sent to an opt-in email list to announce special events, special menus  and more. Caminito is very active on Yelp! and includes a link on its website to encourage users to leave  reviews there. Web analytics are monitored at least weekly and sometimes daily to see where traffic is  coming from, judging return on investment for certain campaigns and promotions and make site enhancement decisions. The restaurant has a MySpace page to reach the college age crowd with several area  universities and colleges nearby. They post bulletins, blog posts and events there. Caminito also uses Upcoming, Facebook, Twitter, Plurk and FriendFeed, networks through the  Answers section of LinkedIn and has a Flickr account for restaurant-related images.
  • Caminito‘s World…
  • The Social Homebuilder
  • Martell‘s Holistic Strategy Holistic strategy, not just  social media Advertising, customer  relations, vendor relations, public relations, website execution, social media Strategic process of defining  their audience, establishing their objectives, developing strategies to accomplish those objectives with the audience and then decided the tools
  • Indium Social Media Strategy 25% reduction in marketing spend  Major account wins  Entire organization involved  in the ‗community‘
  • B2B Discovers Online Videos It is my goal to meaningfully engage my audience and draw them in. Video offers anenhanced ability to do so (especially when compared to static posters/graphics). Rick Short, Indium Multiple Customer Touch Points Multiple Uses
  • Integrated Social Media Strategy Goodwill Repositioning Blog YouTube MySpace ebay Store
  • A Few Good Stats http://dcgoodwillfashions.blogspot.com/ Over 11,500 unique visitors to the virtual fashion show 9/12 launch  Over 42,000 page views  16% of fashion show visitors have been converted into online  Goodwill shoppers Fashion Show Visitors from 31 countries and 48 states plus DC  48% of fashion show visitors are from the DC, MD, VA region (the  area we serve) Blog is averaging between 600 & 700 visitors a week  5.6% of blog visitors are being converted into online Goodwill  shoppers Blog visitors from 77 countries and all 50 states  Brick & mortar stores during the two weeks following the launch of the fashion show:  Customer count + 6.6%  Rack sales (clothing) + 16.5%  Total sales + 8.275%
  • So, Now What?
  • Digital & Social Media Strategy in 8 Parts Part 1: Learn to Listen  Part 2: Join the Conversation  Part 3: Start a Blog (or… Be the Media)  Part 4: Tap into Your Community  Part 5: Crowdsource Your Next Big Idea  Part 6: Harness the Power of Social Networks  Part 7: Share Photos and Videos Online  Part 8: Measure Your Success Online 
  • Learn to Listen Where are your customers online/offline? Blogs, Social media tools (e.g. LinkedIn Answers), Discussion Forums,  Twitter, etc…/Events Monitor these conversations: Find your brand using Google Alerts, Keotag.com, Boardreader.com and  Technorati.com Use a central tool to track the different conversations happening around  your company. Most online conversations are RSS enabled, barring a few Yahoo! groups that don’t support RSS. Use a RSS reader (e.g. Bloglines.com) to gather all these conversations into a central repository and create a folder that you check on a daily basis. For Example: Best-in-class organizations pursue social media listening as a daily discipline and have a response strategy to engage in the conversation if necessary.
  • Join the Conversation Be transparent. Be open and  honest in all communication. Be ethical. Live by the WOMMA  Practical Ethics Toolkit Be relevant. Share information  and perspectives that are valuable to the online community Personalize and be personable.  Address negative discussion  head-on. Court evangelists & advocates.  Even if you‘re not ready to join the conversation, it pays to have a sound strategy for dealing with any social media conversation taking place about your brand.
  • Be the Media (or, Start a Blog) Feature a link to the  blog on your company home page. Employ a team of  bloggers. Provide guidelines to  bloggers. Share company news and thought leadership.  Post a combination of written word, photos and video.  Link generously to other digital influencers.  Allow moderated comments to foster a two-way conversation. 
  • Tap Into Your Community Community members can  be worth 30% more Tap the power of your  customer base Increase long-term  lifetime value Involve them in  something meaningful Know what customers  really want to buy
  • Crowdsource Your Next Big Idea Define an idea  management process. Design and develop the  online community. Promote the community  with your customers. Invite them to contribute.  Post questions to spur  their thinking. Celebrate great ideas. 
  • A Crowdsourced Business Seventh Generation, a leading green consumer products company, used a crowdsourcing approach to design an eco-friendly diaper bag as part of its Wee Generation campaign. Mommies, children and leading environmental experts collaborated to design a state- of-the-art, limited edition bag, which Seventh Generation now sells.
  • Harness the Power of Social Networks Connect with your customers  in their network. Facebook, LinkedIn, MySpace,  etc… Build applications for them in  their networks. Assign someone in your  organization as the ‗community manager‘. If you build it, they won‘t  come – put together a sound seeding strategy
  • Share Photos and Videos Online Create a brand channel on  YouTube. Upload your company‘s videos to  your YouTube channel Adds to your search results  • Promote your company‘s YouTube  channel or specific videos on your Web site, emails, newsletters. Engage your audience by  encouraging them to add comments, rate videos, share video. Update your content frequently to  keep it fresh. This is critical to keep people coming back.
  • Measure Your Success Online The value of social media presence can be calculated by simple methods: Reach  How many people are influenced by our social & digital media efforts? Acquisition  How much of their attention have we acquired through connections, website visits, and time spent engaging with us? Conversion  How many have we ‘converted’ toward the ultimate goal (subscription, sales, leads, registrations, evangelists, etc.)? Retention  Are we reducing customer churn, lowering our overall cost to serve, increasing the purchase value/volume/frequency, and growing the lifetime value of our customer base?
  • MEASURE Another take on the process of measuring social media value Source: Forrester Research
  • “Every brand needs to be relevant and part of a community. They need to open a dialogue with their consumers, but they also need to be prepared for what could be negative feedback and I don’t think all marketers are ready for that.” - Bob Ivins, EVP, comScore
  • How to control millions of inaccurate and divergent conversations ? YOU DON’T Consumers are beginning in a very real sense to own our brands and participate in their creation … We need to begin to learn to let go. A.G. Lafley, CEO and Chairman of P&G, October 2006 (cc) Lynette Webb, 2006
  • Five Keys to Social Media Success Be Generous With Your Knowledge   Share beyond the marketing speak Be Consistent   Calendar your activities – daily, weekly, monthly routine Always Deliver Value   Listen, think, revise, teach, repeat Take A Stand   Take your strong positions to market Focus On The Long-term Benefits   Track your results in months & years
  • Social Media Homework! Find blogs in your area of interest  Seek out podcasts for marketers (or whatever you  fancy) in iTunes or Podcast Alley Sign up for a free RSS reader (Bloglines, Google  Reader) and consume feeds Join LinkedIn  Anyone not visited YouTube yet? Look for your  favorite things there too
  • Social Media Extra Credit Become a regular commenter on blogs that interest  you Join Facebook & ask a question on LinkedIn  Start a blog of your own on a topic of your choice  Create a podcast  Switch over some of your newsletter subscriptions to  RSS feeds Get a Flickr account to share photos 
  • Digital Marketing in a Downturn Q&A Need help after the presentation? Email dana@marketingsavant.com