Do It Wrong Quickly GPSEG 2012 04-13
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Transcript of Do It Wrong Quickly GPSEG 2012 04-13
© 2012 Mike Moran Group LLC
Mike Moran
www.mikemoran.com
How the Web Changes the Old Marketing Rules
Mike Moran GPSEGApril, 2012
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC2
Isn’t digital marketing simple?
It’s dizzying
And it keeps changing
Faster and faster
How do you cope?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC3
The good old days in marketing
The best creative folks came up with agreat message for a mass market
We tested it against focus groups
We pushed it out there—over and over again
We hoped they’d buy, but weren’t sure they did
Can’t Beat the
Real Thing
Coke adds life
I'd like to buy the world a Coke
Coke is it!
It’s the real thing
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC4
The good new days in Web marketing
You can target even the smallest group
You can measure the results of everything you do
You must change your message in response to what your customers:
Say (comments, blogs, product ratings)
Do (search, purchases, page views)
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC5
The Web rewards pull over push
You don’t target markets with a message the same way on the Web
More often, markets have to find you, or your customer must give you permission:
Search
Opt-in e-mail
Subscribe to blogs
But even tiny markets can be reached
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC6
Remember, it’s still marketing
1. You need to target your market
2. Understand what they care about
3. And connect with your message
If you do:
You improve your image
And you drive sales
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC7
The difference is how you do it
Time was that marketing was risky
Your job was to remove as much of the risk as possible
But Web marketingrewards experimentsrather than deepplanning
Are you feeling stuck?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC8
Attract
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC9
Both organic and paid search offer opportunities
With paid, you bid what you’ll pay for each click
Organic is the search engine’s best match
Paid Search
Organic Search
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC10
Social media marketing is new wine in old bottles
Growing out of search marketing, and public relations before that
Social media marketing is any way you can get attention for your message using people connected to the Internet
People + message + Internet = social media marketing
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC11
Content-based social media marketing
Focuses on the content to be posted and passed around: blogs, videos, photos, news stories, podcasts
Or bookmarks tothe content
Feeds viralmarketing
Content sites
Bookmarking sites
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC12
Personality-based social media marketing
Consumer companies create character profiles, but may not be the best marketing for B2B companies
Consultants create professional profiles
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC13
Interest-based social media marketing
Communities form around topics of interest, such as message boards and specialty search engines
Marketers must get into these conversations
Maybe social bookmarking sites fit into this category, too
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC14
Remember that social media uses a community
Get to know the community
Give back to the community
Let the community spread your word
You can’t force itIt Takes a Village
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC15
The Three Rs of Marketing 2.0
Real No more of the old marketing hype.Tell the truth. Admit your mistakes.
Relevant You can’t interrupt people anymore.You must have what they want.
Responsive Marketing is no longera monologue.You must answeryour customers.
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC16
Marketers must give up message control
We don’t control the message
The message is changed, rebutted, and misconstrued by ouraudience
We must modify whatwe say in response
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC17
Listen
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC18
Web 2.0 now makes marketing a conversation
Readers comment on your blogs
They change your wikis
The create blogs of their own
They create “hate” sites if theydon’t like you
They produce mashups of your content and functions
Web 1.0 users were consumersWeb 2.0 users are participants
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC19
How do today’s companies listen to customers?
Google Alerts are free and easy
Set up a searchand follow thee-mails or anRSS feed
Perfect for smallbusinesses andunique searchkeywords
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
But other companies fail with search algorithms
“T-Mobile” will be found quite easily
“Sprint” not so much
“Verizon Wireless” is also not easy to isolate
20
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
Google Alerts treats all mentions the same
21
Doesn’t aggregate volumes or show
competitors
Doesn’t differentiate by venue
Doesn’t separate positive from neutral
and negative
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
Sentiment analysis shows opinions
Top Five Tech Pundits in Smart Phone Conversation
Blog URL Net Sentiment (toward Brand)
Rank Traffic
Engadget AVenue falls in the top 1% of highest
trafficked, most influential sites
GizmodoA
Venue falls in the top 1% of highest trafficked, most influential sites
ElectronistaB
Venue falls in the top 10% of high trafficked sites
UberGizmoB
Venue falls in the top 10% of high trafficked sites
SwitchedC
Venue falls in the bottom 90% of trafficked sites
22
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
Algorithmic sentiment analysis misses sarcasm
“Oh, the iPhone is a beautiful girl, no doubt.”
The automated sentiment analysis failed to identify the
sarcasm and coded the entry as positive for iPhone, while failing to understand
the author was actually saying there was no value for the iPhone beneath its
flashy exterior
23
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
Algorithmic sentiment analysis misses nuance
You know that these are negative, but there is no word to tell the algorithm
These would be marked neutral by most algorithms
24
“I waited on line for my entire lunch hour
at my Wells Fargo branch today.”
“State Farm never told me I had no flood coverage.” “Amazon wouldn’t
refund my money.”
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC
Algorithmic sentiment misses context
The same words mean different things
An “unpredictable” movie is good, but “unpredictable” food quality, not so much
We like “small” cell phones but not “small” hotel rooms
“Faded” jeans are good, butnot “faded” photos
“Frozen” computers arebad, but “frozen”margaritas are good
25
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran
70% accuracy on relevance
70% accuracy on sentiment
70% times 70% = 49%
The problem: Algorithms alone fall short
26
“Oh, the iPhone is a beautiful girl, no doubt.”
The best algorithms seem to fail half the time
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran
If you need the data to be right, you need people to check the machines
The machines collect the data andmake the easy calls, and theysuggest the answers for the toughones, but humans make the finaldecision
Human analysts can correct the algorithms
27
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC28
Watch
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC29
Imagine a catalog marketer who said to the boss…
I shipped February’s catalog on time
And under budget
Customers like it
And it looks beautiful
Wanna see it?
But that’s all we say about our Web sites—where are the metrics?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC30
How can you drive demand for your products?
Visitors 1000
Conversion Rate 1%
Conversions 10
Base
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC31
How can you drive demand for your products?
Visitors 1000 1000
Conversion Rate 1% 2%
Conversions 10 20
Increase your conversion rate
Base
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC32
How can you drive demand for your products?
Visitors 1000 1000 2000
Conversion Rate 1% 2% 1%
Conversions 10 20 20
Increase your conversion rate Increase your
traffic
Base
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC33
How can you drive demand for your products?
Visitors 1000 1000 2000 2000
Conversion Rate 1% 2% 1% 2%
Conversions 10 20 20 40
Increase your conversion rate Increase your
traffic
Or both
Base
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC34
What are your conversions?
Online sales
Find a store
Find a dealer
Find a partner
Phone call
Affiliate link
Download a white paper
Fill out a contact form
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC35
How do you track offline conversions to the Web?
The easiest way is for you to contact the customer
If the customer switches channels, entice the customer to:
Print the product’s specifications to bring to the dealer
Print a coupon to present at the retailer
Call a special phone number
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC36
Which metrics matter?
Impressions: Did they see it? E-mail opened? Ad displayed? Document shown? Blog entry read?
Selections: Did they choose it? Click throughs? Mouse over?
Conversions: Did they buy it? Download? Call?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC37
Should the shopping cart be on the left or right?
A/B testing decides
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC38
Beyond A/B testing: multivariate testing
Yes, it’s free
Create differentversions of yourpages
Google tests them with live visitors and reports back on which variations did the best
Then you permanently change the page to the best version
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC39
Without testing, you’ll never know what works
Which page had 116% higher conversion?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC40
Respond to your customers
Change your products
Change your content
Change your prices
Change your policies
Change your experience
Then, change them again
Customers vote with their mice
Learn
Buy
Shop
Use
Get
Which changes increase your conversions?
Mike Moran
© 2010 Mike Moran© 2012 Mike Moran Group LLC41
Read all about it “The Bible of search marketing”
--Chris Sherman, Search Engine Land
Includes DVD with videos and presentations; text updated on each printing
www.mikemoran.com
The search
marketing best seller
For more information about the books, and for the free Biznology newsletter and blog:
Named a “best business book” by Miami Herald for 2007 “Great book.”
--Robert Scoble, Scoblizer blog
“Act now andread it.” --Bryan Eisenberg, Author of #1 best seller Waiting for Your Cat to Bark?