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University of Washington Guest Lecture - Entrepreneurial Marketing


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Guest lecture by Jordan Mitchell at Deb Hagen's UW class on Entrepreneurial Marketing.

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University of Washington Guest Lecture - Entrepreneurial Marketing

  1. 1. Online Marketing – Version 2.0 Marketing your business across the new landscape of the Web.
  2. 2. Today I’ll Talk About <ul><li>Online advertising trends and challenges </li></ul><ul><li>Using the Web to gain exposure </li></ul><ul><ul><li>Online advertising 101 (media you buy) </li></ul></ul><ul><ul><li>Evaluating three example campaigns </li></ul></ul><ul><ul><li>Tools to use </li></ul></ul><ul><ul><li>Social media marketing (media you earn) </li></ul></ul><ul><ul><li>Examples of social media marketing </li></ul></ul><ul><li>Tracking and measuring </li></ul>
  3. 3. Online Marketing Version 2.0 <ul><ul><li>Then </li></ul></ul><ul><ul><li>Banners </li></ul></ul><ul><ul><li>1-2 ad networks </li></ul></ul><ul><ul><li>Category/site targeting </li></ul></ul><ul><ul><li>“ bought” media </li></ul></ul><ul><ul><li>Now </li></ul></ul><ul><ul><li>Text, display, video, viral </li></ul></ul><ul><ul><li>>400 ad networks </li></ul></ul><ul><ul><li>Incredible targeting </li></ul></ul><ul><ul><li>“ earned” media </li></ul></ul>
  4. 4. US Online Ad Market Size Actual Estimated
  5. 5. Display vs. Search Advertising <ul><li>Display Advertising </li></ul><ul><li>Untargeted </li></ul><ul><li>25x volume of search yet half the market share </li></ul><ul><li>83% sold <$1 CPM </li></ul><ul><li>Search Advertising </li></ul><ul><li>Targeted </li></ul><ul><li>$81.65 revenue per 1000 searches </li></ul>Growth lies in targeting people and behaviors. Search Display
  6. 6. Overall Trends <ul><li>Focus on performance and ROI </li></ul><ul><li>Continued market growth </li></ul><ul><ul><li>2006 online ad spend per household was $217: </li></ul></ul><ul><ul><ul><li>$980 for newspapers, </li></ul></ul></ul><ul><ul><ul><li>$980 for telemarketing, and </li></ul></ul></ul><ul><ul><ul><li>$576 for direct mail </li></ul></ul></ul><ul><ul><li>Self-service </li></ul></ul><ul><li>Better targeting </li></ul><ul><li>“Earned” media </li></ul>
  7. 7. The People-Driven Web <ul><li>Business-driven  people-driven </li></ul><ul><li>Authentic and open communications </li></ul><ul><li>No one has control! </li></ul>
  8. 8. Earned Media <ul><li>Word of mouth </li></ul><ul><li>Social media marketing </li></ul><ul><li>PR </li></ul><ul><li>Media interaction </li></ul><ul><li>Email forwarding </li></ul>Media attention earned the hard way, not bought.
  9. 9. Challenges and Opportunities <ul><li>Signal/noise ratio </li></ul><ul><li>Capturing and holding attention </li></ul><ul><li>“Banner blindness” </li></ul><ul><li>Nothing works continually </li></ul><ul><li>More free exposure venues </li></ul><ul><li>No limit to what can work; blank slate </li></ul><ul><li>Easy and cheap to test different approaches </li></ul>
  10. 10. Paid Media Online Advertising 101
  11. 11. Online Advertising Eco-System Advertisers want to reach people. Web sites are the proxy. 80% of ad inventory flows thru networks. Advertisers / Agencies Publishers Ad Networks Optimizers Online Consumers
  12. 12. Rate Structures <ul><li>Objectives </li></ul><ul><ul><li>Performance </li></ul></ul><ul><ul><li>Brand </li></ul></ul><ul><li>Rate structures </li></ul><ul><ul><li>CPM (cost per thousand impressions) </li></ul></ul><ul><ul><li>CPC (cost per click) </li></ul></ul><ul><ul><li>CPA (cost per action) </li></ul></ul><ul><ul><li>CPV (cost per view) </li></ul></ul><ul><ul><li>Sponsorships (cost per time period) </li></ul></ul>
  13. 13. Targeting Options <ul><li>Traditional </li></ul><ul><li>Geographic location </li></ul><ul><li>Demographic </li></ul><ul><li>Site </li></ul><ul><li>Category/channel </li></ul><ul><li>Search keywords </li></ul><ul><li>Day part </li></ul><ul><li>Newer </li></ul><ul><li>Interest/affinity </li></ul><ul><li>Context </li></ul><ul><li>Commercial intent </li></ul><ul><li>Persona </li></ul><ul><li>Social graph </li></ul><ul><li>Influencers </li></ul>
  14. 14. Where to Buy <ul><li>Specific Web site </li></ul><ul><li>Ad network </li></ul><ul><ul><li>Format (text ad, video, display, etc.) </li></ul></ul><ul><ul><li>Vertical (sports, travel, etc.) </li></ul></ul><ul><ul><li>Publisher type (blog, community, owned, etc.) </li></ul></ul><ul><ul><li>Targeting (behavioral, contextual, demo, etc.) </li></ul></ul><ul><ul><li>Rate type (CPA/affiliate, CPM, CPC, etc.) </li></ul></ul>
  15. 15. Elements of a Campaign <ul><li>The advertisement (creative) </li></ul><ul><li>The landing page </li></ul><ul><li>The call to action </li></ul><ul><li>Continual optimization </li></ul><ul><ul><li>All of the above </li></ul></ul>
  16. 16. Tracking and Measuring ROI <ul><li>Define your “return” in the form of an “action”? </li></ul><ul><ul><li>Registration </li></ul></ul><ul><ul><li>Purchase </li></ul></ul><ul><ul><li>Monetary value </li></ul></ul><ul><li>Measure cost per action against monetary value </li></ul><ul><li>Simple example: selling UW t-shirts </li></ul>
  17. 18. Optimizing Your Campaign <ul><li>Measure, compare, change … </li></ul><ul><li>Campaign funnel </li></ul><ul><ul><li>Creative (click through rate) </li></ul></ul><ul><ul><li>Landing page (click through rate) </li></ul></ul><ul><li>Web site funnel </li></ul><ul><ul><li>General usability (eliminating points of friction) </li></ul></ul><ul><ul><li>Catalog navigation </li></ul></ul><ul><ul><li>Ease of purchasing </li></ul></ul>
  18. 19. Tools to Use <ul><li>Google AdSense </li></ul><ul><ul><li>Messaging </li></ul></ul><ul><ul><li>Keywords </li></ul></ul><ul><ul><li>Landing page optimization </li></ul></ul><ul><li>Google Analytics </li></ul><ul><ul><li>Compare all your advertising sources </li></ul></ul><ul><ul><li>Count impressions, clicks, etc. </li></ul></ul><ul><ul><li>Creative optimization </li></ul></ul><ul><ul><li>Landing page optimization </li></ul></ul><ul><li>A/B and multivariate testing </li></ul>
  19. 20. “ Earned” Media
  20. 21. Earned Media is “Linkbait” <ul><li>Funny, useful or controversial content </li></ul><ul><li>People online are bored! </li></ul><ul><li>Examples </li></ul><ul><ul><li>Videos </li></ul></ul><ul><ul><li>Widgets </li></ul></ul><ul><ul><li>Games </li></ul></ul><ul><ul><li>Blog posts </li></ul></ul><ul><ul><li>Pictures </li></ul></ul><ul><ul><li>Facebook status updates </li></ul></ul><ul><ul><li>Twitter posts </li></ul></ul><ul><ul><li>Emails </li></ul></ul><ul><ul><li>Craigslist postings </li></ul></ul><ul><ul><li>Contests </li></ul></ul>
  21. 22. Earned Media <ul><li>Benefits </li></ul><ul><ul><li>Can be enormously effective </li></ul></ul><ul><ul><li>Can be extremely easy/cheap </li></ul></ul><ul><ul><li>Helps with SEO </li></ul></ul><ul><ul><li>Helps attract/keep people’s attention </li></ul></ul><ul><ul><li>People remember it </li></ul></ul><ul><li>Challenges </li></ul><ul><ul><li>No recipe for success </li></ul></ul><ul><ul><li>Can go horribly wrong </li></ul></ul><ul><ul><li>Posers get nothing </li></ul></ul>
  22. 23. Example: KogiBBQ <ul><li> </li></ul><ul><li>24,000 followers </li></ul>
  23. 24. Example: Seattle 2.0 <ul><li> </li></ul><ul><li>>25K Web site visitors/month </li></ul><ul><li>PR, word-of-mouth, and social media </li></ul><ul><ul><li>Facebook group </li></ul></ul><ul><ul><li>Seattle Startup Index, top blogger index, etc. </li></ul></ul><ul><ul><li>Blog posts, twitter posts, etc. </li></ul></ul><ul><li>First event drew over 300 people @ $50/ticket </li></ul>
  24. 25. Example: Monk-e-mail
  25. 26. The Monk-e-mail Pitch <ul><li>2 spots on the Superbowl </li></ul><ul><ul><li>$5MM cost </li></ul></ul><ul><ul><li>10M people exposed for 30-60 seconds (but not engaged) </li></ul></ul><ul><li>One viral campaign </li></ul><ul><ul><li>$250K cost </li></ul></ul><ul><ul><li>30M people interacting for 8 minutes </li></ul></ul>
  26. 27. Earned Media Advice <ul><li>Contribute </li></ul><ul><ul><li>Write interesting content frequently </li></ul></ul><ul><ul><li>Comment on other blogs </li></ul></ul><ul><ul><li>Be generous with links </li></ul></ul><ul><ul><li>Be authentic! </li></ul></ul><ul><li>Build your audience </li></ul><ul><li>Linkbait </li></ul><ul><ul><li>Content that people just naturally link to and share </li></ul></ul><ul><ul><li>Funny, useful or controversial </li></ul></ul><ul><li>Spend time on it. Put value into it. </li></ul>
  27. 28. New Forms of Measurement
  28. 29. “Buzz” and Sentiment Measurement <ul><li>Monitor chatter about your product/brand </li></ul><ul><ul><li>What people are saying </li></ul></ul><ul><ul><li>Where people are talking about you </li></ul></ul><ul><ul><li>Overall sentiment trends </li></ul></ul>
  29. 30. Friends, Followers, Votes, Retweets
  30. 31. The Power of Passed Links <ul><li>20% of site visits from links shared (earned) </li></ul><ul><li>14-24 year old demo </li></ul><ul><ul><li>88% of links followed were sent to them by friends </li></ul></ul><ul><li>2-4x increase in conversion rates </li></ul>
  31. 32. Conclusion <ul><li>Use search engine marketing to: </li></ul><ul><ul><li>Test your messaging </li></ul></ul><ul><ul><li>Optimize your creative, landing page conversion, funnel, etc. </li></ul></ul><ul><li>Use social media to reinforce your messaging </li></ul><ul><ul><li>SEO “link juice” </li></ul></ul><ul><ul><li>Just be authentic and contribute value </li></ul></ul><ul><ul><li>Develop a following and keep at it </li></ul></ul><ul><li>Continue with other forms of paid online marketing, optimizing for ROI </li></ul>
  32. 33. Jordan Mitchell <ul><li>Email: [email_address] </li></ul><ul><li>Blog: </li></ul>