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How to Win in a Digital Economy
The document outlines strategies for succeeding in the digital economy by building and optimizing online assets, utilizing multi-channel marketing, and adapting to rapid changes brought by black swan events. Key components include creating effective websites, embracing mobile and social media, and implementing robust digital marketing strategies such as search, paid advertising, and email marketing. It emphasizes the necessity of continuous adaptation and persistence to thrive in a crowded digital landscape.
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How to Win in a Digital Economy
- 1. “How to Winin a Digital Economy” How to Build and Optimize your Online Assets and Promote them to a Global Audience with Multi-Channel Marketing
- 2. Digital World CreatesImpact and Disruption • Mobile • Web • Social Networks • Online stores
- 3. The Black SwanEvents
- 4. 3 Attributes ofa Black Swan Event 1. It is unexpected 2. It has major impact 3. In hindsight it was predictable
- 5. Examples of BlackSwan Events 1. Penicillin – Positive Effect 2. September 11 Attacks – Negative Effect
- 6. 3 Black SwanEvents that Define the Digital Economy 1. The personal computer 2. The Internet 3. The social web
- 7. Challenge 1: Ina Fast World, Humans are Slow to Change To reach 50 million users – Radio took 38 years – TV took 13 years – Internet took 4 years – iPod took 3 years – Facebook added over 200 million users in less than 12 months!
- 8. Challenge 2: Westill think Local not Global
- 9. Challenge 3: ItCreates Disruption
- 10. Companies that don’tadapt to the disruption are becoming extinct as companies that adapt grow and thrive!
- 11. How does yourBusiness stand out in a Crowded Digital Ocean of 500 million plus websites?
- 12. How do getfound when there are over 200 billion digital display banner ads every 90 days?
- 13. How does yourbusiness and brand cut through in an era of “Big Data”? “Every two days we create as much information as we did from the dawn of civilization up until 2003” Eric Schmidt, 2010 (CEO of Google)
- 15. The Key Elementsfor Winning in a Digital World • Step 1 – Designing, Building and Branding Your Digital Assets Website Blog Social Networks Mobile Platforms
- 16. Designing and Buildingyour Digital Assets • What are Digital Assets? Any online web properties that you have your name and brand on. – Website – Blog – Online Store – Social Networks – Mobile apps
- 17. Designing and Buildingyour Digital Assets • Website: Do you think your website in 2012 is like the one you built 4 or 5 years ago? – Static – never changed – Text Based – Needed to be programmed by the developer – One way communication – Optional
- 18. Designing and Buildingyour Digital Assets • What is essential for a business website? – Intuitive visual design – Built on a robust technology platform
- 19. Designing and Buildingyour Digital Assets • For a great business website! – It needs great “Liquid” and “Linked” content People can create more conversations about your brand online than you can ever hope to achieve
- 20. Designing and Buildingyour Digital Assets • For a great business website! – It requires compelling “Multimedia” Content
- 21. Designing and Buildingyour Digital Assets • For a great business website! – Tap into the power of the “Visual Social Web”
- 22. Designing and Buildingyour Digital Assets • For a great business website! – It needs to be “Integrated” with your business • CRM • Accounting • Databases • Email
- 23. Designing and Buildingyour Digital Assets • For a great business website! – It should be “Social”
- 24. Designing and Buildingyour Digital Assets • Designing and Building a successful ecommerce website
- 25. Designing and Buildingyour Digital Assets • What is essential in a successful ecommerce website – Make it easy for people to buy – Managed and editable without programming knowledge – Trusted – Offer a range of payment methods – Provide discounts and incentives – Personalize it – Embrace “Omni-Commerce” – Make it social – Optimise it for search
- 26. Designing and Buildingyour Digital Assets • The Rise of “Omni Channel Retailing” – The seamless approach to the consumer experience through all available shopping channels. Think of the whole world as a store! Buy anything, anytime, anywhere • Mobile devices • Computers • Bricks and Mortar The decentralized shopping experience!
- 27. Designing and Buildingyour Digital Assets • Mobile
- 28. Designing and Buildingyour Digital Assets • Mobile – The Numbers • 5.9 Billion people use mobile phones • 1.2 Billion internet connected smart phones • Smart phone sales were up 63% in 2011 to 489 million new phones • 300,000 apps downloaded 10.9 billion times • 40 million tablets sold in 2011 • 106 million tablets forecast to be sold in 2012
- 29. Designing and Buildingyour Digital Assets • Mobile – How do people use their mobile devices? • 81% for browsing • 77% for search • 71% Search on their phones because of ad exposure • Almost 25% of people have bought using their mobile • More than half of the US smart phone users performed retail research while in the store • Smart phones now outselling PC’s • 50% of all US phone users now have smart phones These are all indicators that we have reached a “Mobile Tipping Point!”
- 30. The Key Elementsfor Winning in a Digital World • Mobile – Mobile Showrooming
- 31. Designing and Buildingyour Digital Assets • Mobile – How to win with Mobile • Accept the fact that the world is going “Mobile” • Build a Mobile optimised website • Build apps that make it easy to buy from a mobile device
- 32. The Key Elementsfor Winning in a Digital World • Step 3 – Social
- 33. You Have Designedand Built Your Online Assets • You have: – Created a great website – Built an online store – Developed it for mobile platforms – Established your social networks. They look great! Sit back and wait for customers and prospects to find you and the money to roll in? You are not done…Your work has only begun! You need to be “found” and attract traffic so you can sell
- 34. Marketing Your DigitalAssets to Win • Create a Digital Marketing Strategy 1. Create a clear vision 2. Know who your audience is 3. Know what your goals are 4. Create content to engage with your target audience 5. Create tactics to achieve those goals 6. Measure, manage and modify
- 35. Key Elements forWinning in a Digital Economy Multi-Channel Marketing Social Networks Mobile Paid Digital Marketing Digital Assets Hub Search Engine Optimised Email Marketing
- 36. Marketing Your DigitalAssets to Win • Channel 1 – Search
- 37. Marketing Your DigitalAssets to Win • Channel 1 - Search – Up to 90% of purchasing decisions start with an online search. – Organic online clicks account for 75% of all click throughs to websites – 25% of all clicks are paid eg Google Adwords.
- 38. Marketing Your DigitalAssets to Win • Channel 1 – Search – How important is it to be at the top of Google’s search results? • Ranking first on Google gets over 40% of all clicks • Ranking second receives just over 11% - coming second has distinct disadvantages – only ¼ of all clicks compared to first ranking • 90% of all clicks occur from first page of search results.
- 39. Marketing Your DigitalAssets to Win • Channel 1 – Search – 2 Keys for Optimizing your Websites for Search Engines 1. Onsite Search Engine Optimisation 2. Offsite Search Engine Optimisation
- 40. Marketing Your DigitalAssets to Win • Channel 2 - Paid Online Marketing – Why Paid Online Marketing? • It acts as a catalyst to be found online and accelerates the “velocity”, discovery and sharing of your brand
- 41. Marketing Your DigitalAssets to Win • Channel 2 - Paid Online Marketing – Internet Advertising vs Print
- 42. Marketing Your DigitalAssets to Win • Channel 2 - Paid Online Marketing – The Rise of Social Network Advertising
- 43. Marketing Your DigitalAssets to Win • Channel 2 - Paid Online Marketing – Examples of Paid Online Marketing • Google AdWords • Facebook Ads • LinkedIn • Banner Ads on websites where your customers hang out
- 44. Marketing Your DigitalAssets to Win • Channel 3 - Email Marketing
- 45. Marketing Your DigitalAssets to Win • Channel 3 - Email Marketing – Most used channel for personal communications - 45% – Checked daily by more users (91%) – The preferred channel for permission marketing - 77% – The channel that influences the most purchases - 66% – Preferred for financial (52%) and travel (43%) alerts – Preferred even by teens over all other direct channels for permission-based, marketing communications - 66%
- 46. Marketing Your DigitalAssets to Win • Channel 3 - Email Marketing – 2 Tips 1. Make it easy 2. Provide incentives for prospects to opt-in to your email list eg a free ebook
- 47. Marketing Your DigitalAssets to Win • Channel 4 - Social Media Marketing
- 48. Marketing Your DigitalAssets to Win • Channel 4 - Social Media Marketing – Turkey and Social Media • Facebook is the most visited site with 28.8 % of all time spent online • Nearly 90% of the Turkish population consumed online video watching 144 videos and spending 14.8 hours per month • 16.6 % of adults in Turkey use Twitter
- 49. Marketing Your DigitalAssets to Win • Publish and Promote to multiple social networks
- 50. Marketing Your DigitalAssets to Win • Publish a Variety of Multi-Media Content
- 51. Why Social Media? •Social Media Amplifies your Content
- 52. Why Social Media? •Accelerates the Spread of your Brand
- 53. Why Social Media? •Makes you Stand out from the Crowd
- 54. Why Social Media? •Networking on Steroids
- 55. Why Social Media? •It can Position You and Your Business as an Expert
- 56. Why Social Media? •Your Business Can Self-Publish
- 57. Why Social Media? •Enlists the Power of Global Word of Mouth
- 58. Why Social Media? •Facilitates Trust – Edelman Trust Barometer
- 59. Marketing your DigitalAssets to Win • What social networks should you market on? – Where your target market hangs out!
- 60. Marketing your DigitalAssets to Win 8 Keys to being successful with social media 1. Treat your social networks as an extension of your websites 2. Build your networks 3. Optimise social networks for search 4. Engage with your audience 5. Publish multimedia content regularly 6. Create content for your audience that educates, informs, entertains and inspires 7. Share and subscribe buttons everywhere 8. Drive traffic to your website and “call to action” landing pages
- 61. Marketing your DigitalAssets to Win • Top tips for your Social Media Marketing 1. Create Liquid and Linked Multimedia content to be seen and shared “everywhere” 2. Grow your networks 3. Engage with your customers 4. Drive traffic to your website
- 62. Takeaways 1. Build and maintain your online assets 2. Market your online assets relentlessly, everywhere 3. Don’t ignore the growth of mobile 4. Optimise for search engines 5. Don’t underestimate the value of email 6. Create Multimedia “Liquid” content 7. Publish and promote your content on social networks
- 63. Be Persistent! “Nothing in the world can take the place of persistence. Talent will not,…Genius will not, Education will not; the world is full of educated derelicts…… Persistence and determination alone are omnipotent” Calvin Coolidge - US President
- 64.
Editor's Notes
- #2 I suppose I would describe my self as a product of the digital age. One of my first jobs was working for the first Australian personal computer company in 1985 that sold the first IBM personal computer. In the late 1980’s I remember getting my first mobileTen years later I remember firing up my PC and connecting to the internet with a very slow modem and hooked into the web using one of the first search engines “Alta Vista”It was about another decade later that I registered on Facebook for the first time and connected to people I had gone through college with looking considerably older and some with a lot less hair. These are now starting to come together with enormous impact in the digital economyI also noticed the addictive nature of the social networks and I realised that here was a powerful marketing medium and I then commenced my journey onto Twitter and blogging and I never ceased to be amazed by the pace of change and the leverage that these new technologies bring to business and marketing.
- #3 So we are living in a world that continues to evolve at an astonishing paceSmart Phones TabletsOnline storesAnd new emerging social Networks such as Google +, Pinterest and Instagram.These disrupt and how we live and workThere is a a term that is used to describe these disruptive events and inventions. They are called Black Swan Events
- #4 Black swan events were introduced by Nassim Nicholas Taleb in his 2004 book Fooled By RandomnessTaleb regards almost all major scientific discoveries, historical events, and artistic accomplishments as "black swans"—undirected and unpredicted. He gives the rise of the Internet, the personal computer, World War I, and the September 11 attacks as examples of Black Swan Events.[2]
- #5 What we call here a Black Swan (and capitalize it) is an event with the following three attributes. First, it is an outlier, as it lies outside the realm of regular expectations, because nothing in the past can convincingly point to its possibility. Second, it carries an extreme impact. Third, in spite of its outlier status, human nature makes us concoct explanations for its occurrence after the fact, making it explainable and predictable.I stop and summarize the triplet: rarity, extreme impact, and retrospective (though not prospective) predictability. A small number of Black Swans explains almost everything in our world, from the success of ideas and religions, to the dynamics of historical events, to elements of our own personal lives.Linkshttp://m.smh.com.au/national/this-is-mia-ruby-what-is-her-future-20120405-1wfd1.html?page=2http://en.wikipedia.org/wiki/Black_swan_theory
- #7 The intersection of these events are defining and shaping the digital economy.And they are presenting some “challenges” for the traditional way of doing business.
- #8 We have a fast changing world but the challenge is that humans are slow to change and our thinking and habits are still trapped in traditional habitual thinking and customs. A lot of senior managers are still acting as if we are in a industrial and traditional mass media economy,The “Big Gap” between how we read and consume our information and the way we market and advertise. Radio took 38 years to reach 50 million usersTV took 13 yearsInternet took 4 yearsiPod took 3 yearsFacebook added over 200 million users in less than one
- #9 Patrick Story – Car suspension part shipped from London to Sydney saving 40%Your competition is not just in your suburb, city or country. They are in Germany, Japan or China
- #10 These digital economy black swan events are both an opportunity and a challengeSome businesses will thriveOthers will dieThe question is which will you be?
- #11 Some sectors are under more pressure and change than othersDigital PhotographyPublishingMusic IndustryNewspapers
- #12 This digital economy also raises some questions.
- #15 Consuming and organising all this information is one of the challenges of a modern knowledge world in which we liveDo we book mark itFile it on our laptopDo you punch the reference into your notes function of your iPhone or iPadDo you grab a pen and jot it down on your beloved Moleskine notepad?
- #16 It is no longer just about building a website and hoping to be found amongst all that noise and clutter, It is not as simple as that anymore!You need to start changing your thinking and paradigm about the importance of web presence and start thinking about the making it a priority to build and establish your online assets. AnalogyBusiness will spend 100,000 on a reception area that may only get 100 visitors a day while your website may have a 1,000 or more. Yet CEO’s will agonise over investing properly in their website. It is time to change your thinking about the importance of your digital assets when we are increasingly working and buying in a digital economy.
- #18 1. Have a Winning WebsiteThere are 2 Main Types of websites• Business website• E-Commerce websiteThey are your online digital front door that you own and control, more people visit your digital property than your reception or office • So invest appropriately• Treat it as important as your physical assets • Building an online digital asset is not a zero sum game – the sooner you start and optimise the further ahead of the competition you will be as you continue to create content that brings people back to your website and Google pushes further up the rankings • Websites should not be set and forget – it is an active environment that requires constant and persistent updating • It informs and educates while you sleep that a salesperson cannot do.
- #19 Key Elements Great design – It’s not just how it looks! Steve Jobs when interviewed by “Wired” magazine in 1997, said that intuitive and usable design goes much deeper than how it looks, it is how it works! - you really need to to “Grok” it. To intuitively understand and to empathise with your users and your target audience2. Calls to action to capture those important leads3. Integrated to your companies CRM or email database4. Designed and developed for search engines5. Socialised – built for sharing and subscribing to Facebook, Twitter, LinkedIn and Google+6. Create an interactive blog as part of your website – It needs to move from static to interactive allow comments and feedback. To provide a platform for engagement.7. Write and develop content that is addictive, liquid and linked8. Publish high impact images and multimedia that brings your viewers back and compels them to share with their friends and colleagues
- #21 Create Multi-Media to reach everyone
- #22 Create strong visual content to power the sharing of your website and social network content There are many emerging signsFacebook has just spent $1 billion acquiring Instagram.Pinterest according to Experian is now the 3rd biggest social network in the US
- #24 Now by social I mean that you should make it easy for people to engage with your contentShare itSubscribe to itComment about itMany sites do not make it easy for people to share. Sharing buttons take two clicks don’t make it hard.
- #28 The growth of the social networks over the last few years has been matched by the mobile internet with smart phones sales approaching nearly 500 million units in 2011. The synergy that these 2 fast tracking trends provide is changing how we work and play.So what are some statistics worth noting?• The smart phone sales were up over 63% in 2011 from 2010 (488.5 million)• 5.9 billion people now use mobile phones globally• Over 300,000 apps have been developed in the past 3 years and downloaded more than 10.9 Billion times• 77% use mobile phones for search• Social networking accounted for 50% of all page views on mobile phones in 2011• Facebook mobile users quadrupled in 2 years from 50 million to 200 million• There are 200 million mobile video playbacks from YouTube every day• There are 1.2 billion internet connected smart phones• In the US 50% of the population with a phone now has an internet connected smart phoneThe upside for mobile commerce and smart phone growth is enormous as all mobile phones will eventually become internet connected. On current numbers that means that 4.7 billion smart phones are yet to be sold and connected! Is your business ready for the mobile web?I don’t know about you but if you walk the street, ride a bus or a train have a look at what people are doing. They are checking their smart phone or tablet. People commuting to work or watching TV at home are browsing on the mobile devices. Checking their Facebook or even buying products from Ebay or an online store.Smart phones and Tablets - use elements from Trends presentation• Apps for your online store• Website that can be viewed on the major mobile platforms, Android and iPhoneSony has released an internet-linked wristwatch powered by Google-backed Android software.SmartWatch gets online by connecting wirelessly to a wearer's Android smartphone using Bluetooth technology, according to Sony.The high-tech timepiece reminiscent of one worn by classic comic strip detective Dick Tracy was priced at $US150, available online and at Sony stores.Advertisement: Story continues below"SmartWatch provides access to live content and entertainment on the go," said Sony Mobile Communications customer unit president Paul Hamnett, who billed it as the first in a series of gadgets to "expand the smartphone's reach."SmartWatch can switch from displaying time to acting as a touchscreen interface for smartphone information.Vibrations or alerts flashed on the 1.3-inch (3.3-centimeter) screen can signal incoming calls and wearers can glance at their wrists to peruse email or text messages as well as Facebook or Twitter updates by friends.Mini-applications tailored to add features to SmartWatch devices were available at the Google Play online shop, according toRead more: http://www.smh.com.au/digital-life/hometech/sony-unveils-dick-tracy-android-wristwatch-20120413-1wx8f.html#ixzz1rtLqg4GF
- #31 Showrooming “using offline research to facilitate online buying”.This is also known as "showrooming," essentially using physical stores as showrooms for product research before buying from a more price-competitive online marketplace like Amazon. And of course smartphones, shopping apps, and cameras (read: barcode scanners) empower this.Amazon has followed this trend more than anyone, going as far as offering discounts on items scanned in stores, using its app that's made for this very purpose.That's a full 27 percent that bought somewhere else, due to the mobile information they were able to summon while in a given store. http://searchenginewatch.com/article/2156620/Customers-Are-Mobile-Now-Retail-Must-Follow
- #33 You own your website and online store but you also need to consider that we also are on a social web. So securing your presence and designing and branding your business on the major social network outposts s is absolutely key.Hub and Spoke diagram• Facebook • Twitter• YouTube• Slideshare• LinkedIn
- #50 One of the core approaches to social media marketing is the Hub and Spoke approach to Marketing Publish content at your website, blog or online storeDistribute it out onto multiple social networks and media
- #51 Rich Multimedia is vital on the social webProduce Videos, HD Images, Podcasts, PDF’s, eBooksYou will be surprised at how many media formats you can publish the same content with
- #52 Social Media Marketing is potentially exponential Many to ManyIt also amplifies due to low friction sharingThis is seen with sharing buttons Facebook Shares, Likes and Twitter Retweets
- #53 By building online properties such as websites blogs and social media digital assets you canBe ubiquitousVariety of formats that allow people to easily share to their tribes
- #54 A well optimised marketing strategy can provide your brand with high visibilityBeing on multiple social networks Multiple Media
- #55 Networking was cocktail parties, events and lunchesNetworking can be accelerated with social networks by identifying common interests and grouping us in tribes globallyVirtual connections can quickly turn into face to face meetings and opportunities
- #56 Through online publishing of great content and then promoting and marketing you can accelerate your business and personal brands visibility through Becoming the obvious thought leader in your industry. Being mentioned by others builds CredibilityTrust
- #57 The Web gives us access to a global village1. Social Media Channels allow you to publish in a variety of media to many social networking channels.A mobile phone puts a printing press in your handSocial networks and easy to use blogging platforms are the revolution to publishing in nearly 600 years since the invention of the Gutenberg press
- #58 Word of Mouth is powerful for referrals and trust but it is slowed by an analog worldIt was restricted to your friends and colleagues which are constrained by the Dunbar number (150)World of mouth transfers information globally in real time, Twitter, Facebook and YouTube
- #59 Seen once online trust factor is 4%Being seen or heard 3-5 times online takes the trust level to 59%So being visible on Facebook, a blog and YouTube accelerates online trust building
- #64 You will need Persistence in building, maintaining and marketing your digital assets to Win a Digital economy.The challenges are there but the opportunities are global.Nothing in the world can take the place of persistence. Talent will not,…Genius will not, Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. – Calvin Coolidge US President