TOP 10 WAYS TO REMARKETIFY PRODUCTS &SERVICES FOR GREATER SUCCESS OCT. 18, 2011Dawn Yankeelov, President, Aspectx & President-Elect, PRSA Technology Section www.aspectx.com @dawnyaspectx
DEFINITIONre-mahr-ki-ti-fy (verb) meaning to make an existingproduct or service more marketable
TECHNOLOGY TRANSFORMATIONS: THE COMEBACKThe effects of the economic downturn that began in autumn 2008 were felt throughout thetechnology sector.Five Key Continuing Trends Affecting Technology Product Strategy:*further consolidation,*the growth of cloud computing,*the further “consumerization” of technology,*the acceleration of open innovation,*the growing power of emerging markets. --defined by Ramez Shehadi, a partner at Booz & Company.
ECONOMIC FACTORS UNDERSCORES PR IMPORTANCE58% of global online consumers said they are still in a recession – the most in thepast year. More than half believe they will still be in a recession in a year’s time.31% of U.S. consumers said they have no spare cash for discretionary spending, alongwith 25% of Middle East/Africa consumers and 22% of Europeans. --Nielsen Global Consumer Confidence Survey Q2 2011
COMPANIES THAT LEAD THE REMARKETIFY REVOLUTION Activision Adobe AOL Best Buy CafePress Dell Microsoft Salesforce.com Washington Post
1. SELL A WHOLE SOLUTION• Dell had a strategy of selling affordable PCs direct• Today, Dell’s solution strategy is about combining their hardware heritage along with acquired enterprise technology
1. SELL A WHOLE SOLUTION• PC margins are shrinking• Enterprise hardware and software, packaged under “solutions” provide higher margins and upsell• Software solutions providers and partners generate another part of the lifecycle for added profitability
1. SELL A WHOLE SOLUTION• As a PR professional: –Make sure everyone knows corporate strategy; how their products/solutions fit in –Cultivate subject matter experts for thought leadership programs –Ex.: When HP announces that they are getting out of the PC business, react quickly with the Dell story from investor relations to mainstream media
2. BROADEN YOUR REACH• America Online began as the world’s largest “walled garden” online community• Today, AOL has opened all of it’s content to the world and content can be hyper-local
3. PERSONALIZE THE ONLINE EXPERIENCEHuffington says brands need to developa grass roots online strategy Tue, 21 Jun 2011 | By MaryLou Costa,PowerMediaMarketing.comCannes: Brands should enhance their online strategies tointeract with local communities on a deeper level, AriannaHuffington and AOL chief executive officer Tim Armstrongtold delegates at the Cannes Lions Festival.
PATCH: 827 TOWNS/$50 MILL.*Every reporter: 8to 10 stories a day Hyper Local? Sound familiar? It should. That was the clarion call of middle-1990s in the online world. (Also read about early days at CitySearch and Microsoft Sidewalk. However this time they’re true (really). --Rick Robinson, StreetFight
GROW WITH GO-TO CONTENT: MARKET SHARE “Local has to be the largest white space on the internet because people haven’t taken it seriously enough,” said AOL’s CEO Tim Armstrong. The Video link: http://www.dailymotion.com/video/xfob1z_how-aol-s- patch-tripled-its-traffic-on-election-night_tech•Cross Market: Mapquest and Patch
PLANNING BASED ON NUMBERSAccording to the AOL Way, the company planned to do the following by the end of March2011:•increase the number of content pieces produced per month from 31,500 to 40,000;•increase content using ‘scaled production’ from 2,161 per month to 15,000;•increase pages containing video from 4 percent of the total to 70 percent of the total.This is based on the assumption that video will boost eCPMs (i.e. effective CPMs – thecost per thousand views it can charge advertisers) to $35 or more;•decrease the average cost per piece of content from $99 to $84;•increase the media page views per article from 1,512 to 7,000 per article…---from The Business Insider
GROWTH PROGRESSING•(June 2011) Groupon was in the 29 million unique range, LivingSocial was 14 million,and Patch.com was 5.5 million. (Compete.com)•Compete reported that traffic for Cuyahoga Falls Patch is climbing, hitting 8,000unique visitors in April 2011 up from about 700 uniques in December 2010.
WHAT ABOUT HUFFINGTON?Short-Term PR Strategies:1. Arianna Huffington claimed the site surpassed the New York Times in traffic figures in June, publicly invited brands to use the site as a blogging platform to engage with users.2. Will be launched in 12 more countries this year.3. Armstrong said AOL is partnering with “heavy influencers” such as UKgolfer Graeme McDowell.
2 & 3. BROADEN YOUR REACH AND PERSONALIZE THE EXPERIENCE• As a PR professional: –Have experts from corporate to local community outreach within the PR department –Make sure everyone knows corporate strategy –Think grassroots –Leverage personalities from Arianna Huffington to sports professionals to expand the online community and media coverage for AOL.
4. ELIMINATE CUSTOMER PAIN• “Remarketified” from an audio dealer to an appliance super store• To keep customers from postponing purchases, they launched “Buy Back” program at Super Bowl 2011
4. ELIMINATE CUSTOMER PAIN• As a PR professional: – Get internal spokespeople “on message” with exactly what the promo is about. Review a list of frequently asked questions before an ad runs. – Have executives stay “on message” with all of the audiences they will be in front of. – Keep the message simple. Test it to make sure people are getting it before launch.
5. HEAD FOR THE CLOUDS• Established on April 4, 1975• Rose to dominate home PC market with MS-DOS operating systems in the mid-1980s• Expanded into desktop based applications, games, etc.
5. HEAD FOR THE CLOUDS• Microsoft entered into the Cloud computing market with the Azure Services platform.• Microsoft Office links to social networking sites• With Office 365, they are transitioning office software to online- subscription based model of storing data and launching applications from Microsoft’s servers
5. HEAD FOR THE CLOUDS• As a PR professional: – Know all your audiences who follow your company – Know your division’s PR messaging, but also know the company’s “big picture” – Follow blogs, tweets, online articles, cable news, etc. as it relates to your area and be ready to react when you need to – Get the partner community all of the information needed to support your messaging.
6. GO COMPLETELY DIGITALFall 2009. Ann Lewnes, CMO of Adobe. Entire advertising budget to digital venues with thelaunch of Adobe Creative Suite 4 going completelydigital.http://e-marketingsource.com/2011/07/15/e-marketing-strategy-adobe-abandons-physical-product-launch-events/
THE POWER OF ONLINE VIEWS 200,000 launch views + 200,000 later How to get Started=3 Million
ON GOING DIGITAL ONLYMost Popular and Most Effective Online Tactics:• Rich Media/ Merchandising • Social Media• Mobile • Mobile commerce visualization• Personalization • Digital Ads>>> and Analytics! --Adobe’s Own Research 2011
HIGHEST RANKING TACTIC IN DIGITAL• Mobile advertising, promotions and bar-coded coupons to drivein-store or web purchases (42 percent) --Adobe Research 2011Mobile apps elbowed out personalization by zip code/geo-targetedsites and personalization engine/behavioral targeting.
ADOBE ACQUISITION: SIGN OF THE FUTURE Acquired e-signature specialist EchoSign and will integrate that technology into the Acrobat suite, officials said. ----July 2011
6. GO COMPLETELY DIGITAL• As a PR Professional: – Remember that the global audience is always nearby – Mobile strategies work; the untethered worker is here – Viral messaging tops one-to-many any day – Make it shareable; make it memorable – Repeat in Archives, like a songs “Greatest Hits”
7. LEVERAGE KNOWN CUSTOMER DATA Don’t Let ‘Em Slip Away—Find the Incomplete TransactionsRetail brands andeCommerce share deep userdata with TellApart
LIFT IN SALES FROM WHAT ISOn average, TellApart says, it has been able to offer an averageof three to five percent lift to its client’s overall revenue. Hit potential TransactionalFor every 100 customers with Retargetingcustomers that visit personalized ads asa company’s they navigate theirwebsite, only a few favorite websiteswill buy something.
INVENT ANOTHER PRODUCT? “If you have 300 million products, the merchandising becomes the most important and most difficult,” says Marc Cowlin, CafePress’s director of brand marketing.
7. LEVERAGE KNOWN CUSTOMER DATA• As a PR Professional: – Be understanding on where conversion and convergence enter the picture in channel development – Leave no one behind who has clicked – Reach Out and “Retouch” often – Study What the Metrics Say and Move Accordingly – Make Product or Service Selection User Friendly Online—No Esoteric Language--Simplistic
8. BE AN EVANGELIST• Salesforce.com was one of the first software as a service (SaaS) products• CEO Marc Benioff became an evangelist for SaaS first and Salesforce.com second
8. BE THE EVANGELIST• After 12 years, Salesforce is already worth more than $18 billion and is still growing• First company to exceed $2 billion in revenue in the Cloud space• Continue to innovate with new products like Chatter• Acquire firms like Radian6 who have already developed a product that compliments your product line
8. BE THE EVANGELIST• As a PR professional: – Leverage the buzz of new technology to get your company message out – Educate the market first on technology using your company as the example of how that technology works – Have plenty of statistics and factoids on hand to feed press looking for a story angle – Use your charismatic CEO as wisely and strategically as possible. Use other spokespeople to supplement.
9. PROVIDE CHOICE AND ALLOW FOR SHIFTS• Make the Consumer Your Guide through Personalization• Acquisition of Trove to give the first interactive newspaper• Trove is a personalized news engine that lets users customize the way they view the Webs most intriguing stories
CUSTOMIZATION WINS THE DAY• http://www.trove.com/public/introvideo• Trove learns from you: what you click on, what you share, what topics you care about, what sources you value. This makes Trove different for each person — it surfaces whats important to you, now.• Troves editors look out for the most interesting stories across our 10,000-plus sources to keep you up to speed on what the worlds talking about.• Trove hosts conversations about any interest you have, no matter how general or specific. Use the site to connect with people who share your interests.
9. PROVIDE CHOICE AND ALLOW FOR SHIFTS• Ease-of-Use• Follows What You Care About When You Want It• The Personalized News Aggregator on Mobile Devices• Trend: Other media firms looking to stay innovative and useful to readers: – Forbes, for example, acquired Clipmarks, which lets users bookmark online news stories.
9. PROVIDE CHOICE AND ALLOW FOR SHIFTS• As a PR Professional: – Look for ways to have users drive what speaks “current” – Leverage new technologies and showcase innovation – Build upon consumer interests – Allow for sharing, and changes in thinking in product development language
10. DON’T STOP-CHANGE THE MUSIC• Introduction on Playstation 2 in November 2005, Guitar Hero• Activision, the company behind the gamesreported that the franchise had sold 14 million units which equates to about US$1 billion in sales by 2008.• Music instrument retailer Guitar Center partnered with Activision to be the in-game virtual music store starting with Guitar Hero II.• On selling real guitars from the marketing:“The musical instrument retailing industry has seen record year over year competitive store increases since the game was first introduced…” -- http://nextup.wordpress.com/2009/01/06/guitar- hero-marketing/
REBUILDING THE HERO• Guitar Hero to be resurrected, retooled, and launch reunion tour• By Terrence OBrien posted Jul 23rd 2011 3:29AM• Stop mourning wannabe rock stars -- Guitar Hero is coming back. We heard the rumors of its demise were greatly exaggerated, but now word has come straight from Activision Blizzard CEO Bobby Kotick that the game is currently being reinvented for a modern, more demanding audience.• As he told Forbes, "were going to take the products out of the market, and were not going to tell anybody what were doing for awhile... were going to use new studios and reinvent Guitar Hero.• And so thats what were doing with it now." So there you go -- Guitar Heros retirement was only temporary. Like any good performer itll be back before youve even had a chance to miss it.
NO MORE HERO• Oversaturated at Retail but…? – No less than 75 music games between 2005 and 2010, with 20 iterations of Guitar Hero – RockBand—Harmonix’s digital distribution continues knocking out retail – over one million people per month still connecting online to download new music, pushing the profit center Read more: http://www.portfolio.com/views/blogs/resources/2011/10/10/author-scott-steinberg-offers-seven-lessons-from-the-death-of- guitar-hero/index1.html#ixzz1ase5ELk9
10. DON’T STOP-CHANGE THE MUSIC• For the PR Professional: – Micro-Audiences can be Macro Profitable – Always a Chance to Do a Makeover – Build the Excitement and Anticipate New Beginnings – Connect the Dots—What is Affecting Your Product that May Appear Ancillary – Look for the Digital Transition
EXTRA CREDIT 11. KEEP UP WITH THE TRENDS – Simple Tools For the PR Professional: • Google Analytics • Google Alerts • Google Insights for Search • HARO • ProfNet • Vocus • Radian6 • Constant Contact • PR Web • YouSendIt
KEEP UP WITH THE TRENDS• US Census Bureau, American Community Survey, http://www.census.gov/acs/www/• US Census Bureau, County Business Patterns, http://www.census.gov/econ/cbp/• Bureau of Economic Analysis’ Regional Economic Accounts, http://www.bea.gov/regional/• Bureau of Labor Statistics, http://www.bls.gov/• American City Business Journals, http://www.bizjournals.com/• Tweetdeck, http://www.tweetdeck.com/desktop/ (acquired by Twitter, personal real-time browser)• Hootsuite, http://hootsuite.com/ (social media dashboard)• US Postal Service, Every Door Direct Mail, http://www.uspseverydoor.com/• Invisible Hand, http://www.getinvisiblehand.com/ (web browser plug-in for shopping lowest price)• Bing Price Predictor, http://www.bing.com/travel/ (predicts airfare pricing)• Change.org, (start petitions that make a difference)
SO HERE THEY ARE AGAIN…TO REMARKETIFY• 1. Sell a Whole Solution• 2. Broaden Your Reach• 3. Personalize the Online Experience• 4. Eliminate Customer Pain• 5. Head for the Clouds• 6. Go Completely Digital• 7. Leverage Known Customer Data• 8. Be An Evangelist• 9. Provide Choice and Allow for Shifts• 10. Don’t Stop--Change the Music• Extra Credit 11. Keep Up With the Trends
REMARKETIFYING TIPS• Stay close to your customers – Focus groups – Online research – On-site visits• Study the competition – Where are they having success – What don’t they do• Get ideas everywhere – Press, analysts, people throughout your company
KEY INGREDIENTS FOR PR=Participate in Strategic Visioning=Be Innovative, “Out-of-the-Box”=Forget Not Mobile Eyeballs, When Speaking of Internet Tactics=Measurement or Evaluation Must Be Voiced=Reaching the Individual Customer=Competitive Intelligence is Critical: Understand Industry Trends=Avoid Narrowly Defining Your Role as a PR Professional