Google is Facing Competition for Advertising• In 2011, local online advertising is forecast to grow nearly 18 percent to $16.1 billion• Facebook Surpasses Google In “Time Spent” On Site Domestically• Facebook Accounts for 25% of All U.S. Pageviews• Groupon rejects Googles $6 Billion offer• Yelp has grown to over 29 million unique users per month
In 2011, local online advertising isforecast to grow nearly 18 percentto $16.1 billion#PAII via @MikeDMerrill
1. New Google Place Search Local results from Google Mostly local results from Web • Local Results Now Fill the page • 7 Pack Gone • Relevant Review Sites Included • Scrolling Map on the Right • Bumps results oﬀ page 1 • Right Column Adwords pushed down
2. New Emphasis on Organic Ranking• All results for individual businesses now determined by organic search rank • Makes it much more criHcal for businesses to increase eﬀorts to rank higher organically
3. Third Party Directories & Publishers Impacted Only the Top Directories will Remain on Page 1
6. Google Tags – Make Your Listing Stand Out • Yellow markers allow promoHon of speciﬁc aspect of business • Promote a speciﬁc oﬀer • Makes lisHng standout • Adds more info to lisHng • Do not aﬀect rank of lisHng • Valid only on PIN veriﬁed Google Places lisHngs • Flat $25 / month
8. HotPot • Personalized recommendaHon engine • Allows Google to acquire more reviews on places • UI aimed at average users
9. Marissa Mayer Now Heads Location • Leading Exec lead Search for 11 Years • Move Signals Importance of Local and Mobile Search
10. Google Attempts to Purchase Groupon • Google recognizes threat of Groupon to local business ads • Building sales force in Tempe, AZ recognizing self-‐ service model for SMBs not working • Could leverage Place Pages for deals
You Need a Dynamic Web Presence to be Found You Have: a static website & one way to be found You Need: a fresh Web Presence & many ways to be foundYour Sites Local Directories Social Media Content Sites More Quality Content Published in More Places = More Customers
Quality Content Powers Your Web Presence 5 1 Business listens Business creates and engages quality content Housebreaking Thanks for your Your Dog comments. What’s worked for you? PUBLISH Great advice!4 2 Consumers Content published I’m going comment, like, to try this! & indexed across review & share the web Me too! Housebreaking Your Dog 3 Consumers discover while searching, surfing & socializing
More Content in More Places GetsYou More Customers!#PAII via @MikeDMerrill
Web Presence Benefits More Content. More Places. More Customers. Business Business Listens & Creates Engages Content Consumers Content Comment & Published & Share Indexed Social Search Discovery Consumers Discovery Discover Reputation Increase your online word- Improve your reputation by owning Increase your of-mouth through quality the shelf space on search engines discoverability on search content that is shared and review sites when consumers engines with fresh content across the social web. search for your name. on more sites.
What Is Quality Content? Content created by you Sites & Blogs Directory listings Real-time updates Photos Videos $ Thanks Offers Products Comments Thanks Replies Content created by others SHARE WoM Links Reviews Referrals Shares & Likes Comments
Where to start with contentMake a goal to:• Post on your blog once a week• Tweet once a day• Post something on Facebook page once a day• Have a complete Google Places Page with images and a video• Monitor your business name with Google Alerts Don’t Give Up
What Do I Write AboutPlan Your Posts in Advance• Local Events such as festivals• Harvest times of local fruits and vegetables and related recipes• Hobbies• Customer Guest posts with their images• New Packages offered• Any Inn Renovations or Upgrades – images/video• Positive reviews by guests• Favorite local restaurants, breweries, activities
The Equation (Gain from Investment – Cost of Investment) ROI= Cost of Investment Profit Investment • Cause or Correlation
What is your Financial Goal?Increase Revenue• Increase in new customers• Increase in average revenue per sale• Increase in revenue from existing customersReduce Costs• Lower Cost of Customer Acquisition• Lower Cost of Customer Service
Evolution of Measurement Non Financial Non Financial Non Financial Offsite Website Conversions § Clickthroughs § Unique Visitors § Contact form § Facebook Fans § Page Views § Inbound Calls § Facebook § Time on Site § Downloads Comments § PageRank § Event § Twitter Followers Registrations § Retweets § Opt-in to email § YouTube Views § Subscribe to § YouTube Blog Comments § Register for § Sentiment Online § Mentions Community Ø Social § Employment Ø Press Apps § In-Store Visits § Support Calls § Returns
Map Activity Timeline Adapted from Olivier Blanchard at hp://thebrandbuilder.wordpress.com Overlay non-financial and financial to activity # of transactions, in store visits, coupon redemptions, Revenue
Define Your Success Metrics Adapted from Olivier Blanchard at hp://thebrandbuilder.wordpress.com
Case Study - Large 4 YR University in OK Increase in Web Visits Increase in Twitter followers Increase in Revenue
Look for correlation by overlayingsocial media metrics with financialmetrics over the same time period#PAII via @MikeDMerrill
Lifetime Customer Value What is the value of a new customer? Total • Initial sale Revenue • Repeat business • Up-‐sell • Referrals Knowing this value helps you… • Determine how much to spend to get a new customer • Focus your marketing budget on the most cost-‐eﬀective tactics • Develop plans to increase repeat business Years • Create programs to reward customer loyalty • Oﬀer incentives to drive referrals
Lifetime Customer Value - Example Avg. sale per customer $100 Avg. repeat sales/year 6 x $100 = $600 Avg. years as customer 3 x $600 = $1,800 Special one-time purchases $100 Lifetime customer sales $1,900 Avg. value of referrals 2 x $1,900 = $3,800 Total lifetime customer sales $5,700 Gross profit margin 30% Lifetime customer value $1,710 Program cost $2,500 Customers to break even 2
In order to measure ROI of marketing investments, you need to know Lifetime Customer Value #PAII via @MikeDMerrill
Basic Online Metrics Adapted from Paul Gillen at hp://www.slideshare.net/pgillin/social-‐ markeHng-‐roi-‐yes-‐you-‐can Lifetime Customer (Revenue x Longevity) x Margin Value New Customers Conversion Rate Visits / Leads Value of a Visitor x Conversion Rate x LCV Visit / Lead
Applying ROI to Value of a Visitor Adapted from Paul Gillen at hp://www.slideshare.net/pgillin/social-‐ markeHng-‐roi-‐yes-‐you-‐can Monthly Visitors 10,000 Conversion Rate 5% LifeHme Customer Value $5,000 CalculaHon 10,000 * .05 * $5,000 Value of each visitor $25
Value of a Blog Adapted from Paul Gillen at hp://www.slideshare.net/pgillin/social-‐ markeHng-‐roi-‐yes-‐you-‐can Monthly Search Traﬃc 5,000 EsHmated Traﬃc w/Blog 6,000 Value of a visitor $25 Monthly value of a Blog (25x1000) $25,000 Monthly Blog Expense $6,000 ($25,000 – $6,000) ROI= 316% $6,000
1. Define 3-5 Keywords to Target • Start out by focusing on 3-‐5 Keywords to drive impact over Hme • Next idenHfy the target keyword for each blog post • Recognize opportuniHes for dominaHng a local keyword in your market
2. Ensure Target Keyword is In Headline Earlier in the Headline the Better!
4. Include Keyword 2-3 times in Remaining Text Target Keyword Density is less than 5.5% of all Words!
5. Add a Hyperlink in Every Post to an Existing Post Also include a Hyperlink in ﬁrst Paragraph!
6. Rename Image Details to Target Keyword File name is keyword as well!
7. Ideal Length is 300+ Words per Post • Makes it easier to idenHfy keywords • Need enough copy for Google to assess context
8. Use Alt-Text Keywords in Every Hyperlink Take the Time to Include Alt-Text with Keyword!
9. Include 1 Outbound Link With Keyword in Alt-Text Tips Courtesy of Scribe for SEO at hp://scribeseo.com • Include one hyperlink for every 120 words of body content spread out evenly down the page. • For example, 500 words of content should include 5 hyperlinks with approximately each paragraph containing one hyperlink. • Be sure not to “spam” or “keyword stuﬀ” your content with a paragraph of keywords linked to the same web page over and over again.
10. Use Keyword and Relevant Tags Tags should include target keywords and related terms in body!
Summary of Tips1. Deﬁne 3-‐5 Target Keywords 2. Ensure Target Keyword is In Headline 3. Include Keyword 2-‐3 Times in 1st Paragraph 4. Include Keyword Once In Each Remaining Paragraphs 5. Add a Hyperlink in Every Post to ExisHng Post 6. Rename Image Files to Target Keyword 7. Ideally 300+ Words per Post 8. Use Alt-‐Text Keywords in Every Hyperlink 9. Include a Minimum of 1 Outbound Link With Keywords in Alt-‐Text 10. Use Keyword and Relevant Tags
The Group Deals Model• Unbelievable deal emailed to millions• Shared socially to hit minimum (Tipped)• Receive 50% of cash collected• Paid over 90 days typically in 3 payments• Deal company chooses deals best for them Don’t miss Thursday’s Session with By the Side of the Road B&B in Harrisonburg, VA
Typical Deal Emailed to CustomizableHighly millions offer detailscompellingoffer Shared with friendsDrivessignificantnew salesActivatesat minimumquantity
How it Works with Groupon• Your offer is a voucher worth $500• The voucher is sold for $239• 100 vouchers at $239 sold in 72 hours − $239 x 100 vouchers = $23,900 − You earn $11,950 − $3,984 is paid to you within 15 days − $7,966 is paid to you (less fees) within 90 days in two payments Each customer may also spend • Package Upgrade • Room Upgrade • Food Upgrade • Products – Tshirts, mugs, etc
Upside and Downside of Group Deals • Immediate cash injecHon • Brands your name in front of potenHally Upside millions of customers • No upfront adverHsing costs • Brings in lots of customers fast – most new • Brings in unproﬁtable business • Aracts a large number of customers Downside (customer service issues) • Customers are transacHonal/cost sensiHve • Could hurt brand if normally don’t discount
3 Tips When Considering a Group Deal1. Plan ahead and be prepared • Limit quanHty • Oﬀ season 2. Get Repeat Business & Upsell • Secure email address at check-‐in • Make sure their stay is ﬂawless • Master the art of the upsell at booking and check-‐in 3. Understand the Financials • Make sure to cover variable costs • Know the LifeHme Value of a Customer
Ways to Increase Average Revenue Per Customer• Bundled Packages – Snow Skiing – Mancations – Romantic/Valentines – Girls Weekend• Food Baskets Waynesville, NC – Wine and Cheese – Snack Basket – Picnic bundles – Sweets• Fresh local flowers in room• Bundle Personal Training or Spa Services
Let s Connect and Follow Each Other @MikeDMerrill @ReachCast http://www.mikemerrill.com/linkedin http://www.facebook.com/ReachCast firstname.lastname@example.org http://www.mikemerrill.com