Is social media the new direct marketing - 3 march 2011 -- slideshare
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No one believes that Social Media Marketing is the new Direct Marketing, but it is making an impact everything that we do. Social Media Marketing's ability to capture huge amounts of data, is something that every marketer should be aware of, no matter if they choose to take advantage of it or not. This presentation was given to the Detroit Direct Marketing Association on 3 March 2011.
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Is social media the new direct marketing - 3 march 2011 -- slideshare
- 1. Ron Jacobs [email_address] Is Social Media Marketing the New Direct Marketing? Or, is Social Media just stealing our souls? A Presentation for direct mail? data? search? Email? web?
- 4. Direct Marketing How do you define it?
- 5. Direct marketing is a form of advertising that reaches its audience without using traditional formal channels of advertising, such as TV, newspapers or radio. Businesses communicate straight to the consumer with advertising techniques such as fliers, catalogue distribution, promotional letters, and street advertising. Direct Advertising is a sub-discipline and type of marketing . There are two main definitional characteristics which distinguish it from other types of marketing. The first is that it sends its message directly to consumers , without the use of intervening commercial communication media . The second characteristic is the core principle of successful Advertising driving a specific "call to action." This aspect of direct marketing involves an emphasis on trackable, measurable, positive responses from consumers (known simply as "response" in the industry) regardless of medium. If the advertisement asks the prospect to take a specific action, for instance call a free phone number or visit a Web site, then the effort is considered to be direct response advertising. Direct marketing is predominantly used by small to medium-size enterprises with limited advertising budgets that do not have a well-recognized brand message. A well-executed direct advertising campaign can offer a positive return on investment as the message is not hidden with overcomplicated branding. Instead, direct advertising is straight to the point; offers a product, service, or event; and explains how to get the offered product, service, or event.
- 7. Bob Stone didn’t try to define Direct Marketing, so much as describe what it does
- 10. New thinking, a new lexicon. Not campaigns… curation Not ads… dialogues. Not awareness & interest… behavior. Reputation Sentiment Experience Collaboration Engagement Relevance Authenticity Transparency Accountability Agility Behavior Like, Friend Curation Immersion Emotion Brand Consumer
- 11. Curation enables consumers to become collaborators
- 12. Media Vs Channels It’s about effectiveness, not efficiency
- 13. Channels work together, but play their own roles
- 14. Paid Media
- 15. Crispin Porter + Bogusky’s Social Home Page
- 16. Owned Media … A Brand Channel
- 17. Kogi BBQ… Twitter for traffic building and CRM
- 18. Kogi BBQ… Twitter for traffic building and CRM
- 19. Earned Media… Angie’s List
- 20. Earned Media… Angie’s List
- 24. Social Media It’s already being by brands to optimize marketing
- 30. Facebook is creating and capturing large amounts of data Facebook has 500 million active users 50% of active users log on every day Average user creates 90 pieces of content monthly 550,000 Facebook applications 70% of users engage with apps
- 31. Google’s data mining benefits their advertisers 79 million US Gmail Accounts Google has 145 million unique US visitors 1 billion searches daily Google data mines all search and Gmail as a resource for advertisers 96% of Googles profit is the result of ad revenue
- 33. YOUR AD HERE YOUR AD HERE Marketers can target ads based on social data today Target: -Existing fans/followers -Friends of current fans/followers -Existing & prospective customers -Friends of prospects -Fans/followers of competitors -Custom created segments -Leverage metadata to facilitate sharing
- 34. Bringing Social Media Marketing to life Alterian Buzz Bowl
- 35. Alterian’s Social Engagement Index 2011 Super Bowl TV Ads www.alterian-social-media.com/
- 36. Alterian’s Social Sentiment Engagement Index 2011 Super Bowl TV Ads www.alterian-social-media.com/
- 37. How much is a tweet, a fan or a follower worth? Cost Per Social Impression www.alterian-social-media.com/
- 40. Questions & Answers Questions?
Hinweis der Redaktion
- Users increasingly prefer different channels for different types of messages e.g. A phone app for checking airline schedules, web site for making reservations, SMS for flight delay notifications, email for upgrade and mileage status and Facebook feed for airline promotions. Each channels role in the marketing mix becomes clearer Channels have specific roles and message types Clarity allows marketers to better focus content creation on more meaningful messages; measure and evaluate success, and better communicate each channels benefits to management
- For years, marketers have tried to build awareness, create perceptions, brand identities, position products, create stories, spin ideas, etc. What marketers wanted were actions that would lead to conversions from within their audiences Unless they induce behavior, communications do not result in sales Deliver relevant, compelling and timely messages to drive behavior Buyers don’t know what they want until they see it in context People focus on the relative advantage of one thing over another Communications must engage, nurture and provoke prospect & customer behavior It’s an era of co-innovation & collaboration leading to customer engagement
- Users increasingly prefer different channels for different types of messages e.g. A phone app for checking airline schedules, web site for making reservations, SMS for flight delay notifications, email for upgrade and mileage status and Facebook feed for airline promotions. Each channels role in the marketing mix becomes clearer Channels have specific roles and message types Clarity allows marketers to better focus content creation on more meaningful messages; measure and evaluate success, and better communicate each channels benefits to management
- Create a solar system of owned media. Owned media is a channel you control. There is fully-owned media (like your website) and partially-owned media (like Facebook fan page or Twitter account). Owned media creates brand portability. Now you can extend your brand's presence beyond your web site so that it exists in many places across the web - specifically through social media sites and unique communities. In a recession in which marketing budgets are being cut by 20%, the ability to communicate directly with consumers who want to engage with your brand through long-term relationships can be invaluable. Recognize that earned media is a result of brand behavior. "Earned media" is an old PR term that essentially meant getting your brand into free media rather than having to pay for it through advertising. However the term has evolved into the transparent and permanent word-of-mouth that is being created through social media. You need to learn how to listen and respond to both the good (positive organic) and bad (spurned) as well as consider when to try and stimulate earned media through word-of-mouth marketing. Paid media is not dead, but it is evolving into a catalyst. Many people are predicting the end of paid media (aka advertising). However, that prediction may be premature as no other type of media can guarantee the immediacy and scale that paid media can. However, paid media is shifting away from the foundation and evolving into a catalyst that is needed at key periods to drive more engagement(e.g. Q4 holidays).
- 1. Business contribution These are effectiveness measures comparing the performance of the online channel with other channels. Examples: • Online revenue contribution ($, %) – direct and indirect (i.e. transacted online and referred online from offline); • Online profit contribution ($, %) – Profit contribution to the company in the period; • Online sales transaction contribution (n, %) – direct and indirect (% sales online may differ considerably from % revenue or profit contribution if there is a different average order value or profitability online); • Online service transaction contribution (n, %, $) – what percentage of different types of customer service occur online. Cost savings can be calculated for these also; • Online reach % – Share of online users attracted to the site in an industry category in a week or month assessed by services such as Hitwise or Netratings. Strictly, reach should be assessed through reaching customers via third party sites; • Online market share – % of online market revenue captured in comparison with offline. This is difficult to establish in some markets, dependent on industry collaboration; • Online customer migration – % of existing customers using online services. 2. Marketing outcomes: • Sales (n, $) (If relevant); • Leads (n) (registrations of other opportunities to sell); • Cost per Acquisition (CPA) – Promotional cost of obtaining a first time sale; • Other costs – Cost of good sold and average margin. Cost of service; • Average order value (Basket size); • Lifetime value ($) for different customer groups; • Average touch frequency – for example, for e-mail marketing. 3. Customer satisfaction: • Customer satisfaction and loyalty indices; • Number of comments from site and e-mail (% favorable and unfavorable); • Brand metrics (brand favorability); • Site performance and availability; • E-mail enquiry response time and accuracy. 4. Customer behavior: • Site engagement rates (Bounce rates overall and for different pages); • Site conversion rates (Visit to Sale, Visit to opportunity and Opportunity to Sale); • E-mail conversion rates (Newsletter and campaign related); • Visits involving a page view in different categories (Product pages, Service pages, Where to Buy, Contact Us). Visits / customers can be scored according to this; • Visits to purchase/Time to purchase – indication of number of visits involved with purchase; • Number of products purchased per customer; • Transaction behavior (Recency, Frequency, Monetary value analysis for different categories and customer types). RF analysis also relevant for site visits, e-mail response and different service types; • Activity or participation levels (Percentage of customer base / registrations who are actively using online service(s)). nActivated, nActive, nDormant, nLapsed, etc.; • Loyalty or churn metrics (% of customers repeat purchasing in given time, e.g. 1 year). 5. Channel promotion: • Referrer mix from different sources (direct, search, affiliates, etc); • Share of search (main terms within market); • Cost Per Click/Cost Per Contact (Visitors) average and CPM average for online/offline ads. 6. Social Media A variety of measures that quantify some very soft measurements. This is state of the art just now.
- Learn Who the key influencers are Demographics, psychographics, specifics Create a dialogue with influencers to engage them Learn What is being talked about Including themes, tags, specific words Use these words in your own conversations, copy, keywords, etc. Learn consumers Mood . Are they positive or negative. What is the trend? Sentiment is an important behavioral and economic indicator
- According to Facebook terms and conditions, to use apps you agree to let Facebook download personal information… Of the user and their friends!
- Google data mines both in and out Gmail.
- To overcome that challenge, web publishers — a label which includes most digital marketers — are increasingly encouraged to tag their content with metadata, describing it with machine-friendly RDFa or microformat vocabularies. For instance, Facebook's Open Graph Protocol leverages such metadata to facilitate sharing among friends and like-interested communities. Google Rich Snippets and Yahoo SearchMonkey leverage such structured data to improve search results for locations, people, reviews, events, and more.
- Social Engagement Index (SEI) - The SEI is a proxy for a brand social reach and is calculated by weighting the raw number of conversations by the reach of its participants. The raw score is then calibrated into an index. A score of 100 is the base brand score. Anything above this indicates a greater net reach of social conversations compared to the average brand. Social Sentiment Engagement Index (SSEI) - The SSEI is a composite that combines measures of both engagement and sentiment. We calculate engagement by measuring the raw number of social conversations factored upon the reach per conversation participant. We then apply a function that accounts for the sentiment of positive and negative comments. Finally we calibrate this into an index based upon 100 point brand score. Anything above this indicates a greater net amount of positive engagements, while a score less than indicates more negative. The further away from 100 a score falls the more intense the sentiment.
- Social Sentiment Engagement Index (SSEI) - The SSEI is a composite that combines measures of both engagement and sentiment. We calculate engagement by measuring the raw number of social conversations factored upon the reach per conversation participant. We then apply a function that accounts for the sentiment of positive and negative comments. Finally we calibrate this into an index based upon 100 point brand score. Anything above this indicates a greater net amount of positive engagements, while a score less than indicates more negative. The further away from 100 a score falls the more intense the sentiment.
- Cost Per Social Impression (CPSM) - How much would you be willing to pay for a Tweet? or a new fan or follower? Clearly social media is in its infancy as a cross-channel media measurement tool, but already it's clear the social space is an excellent medium for measurement as it reflects and resonates brands spend in other channels. In an effort to gauge how successful the brands were at converting their Super Bowl media spend to social engagement we've taken the potential reach of the conversation, using a popularity score as a multiplier, and divided it by the media spend. In looking at a brands CPSM, the closer to $0.00 the better.