emarketer webinar: secrets to online marketing success
DESCRIPTION
Please join us for this free webinar featuring eMarketer CEO Geoff Ramsey, co-author of the new book "Digital Impact: Two Secrets to Online Marketing Success," as he outlines creative approaches for engaging with consumers and shares proven techniques for measurement that work for every digital channel.TRANSCRIPT
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Presented by:
Geoffrey Ramsey
CEO & Co-Founder, eMarketer
@geofframsey
J U N E 3 0, 2 0 1 1
Secrets to Online Marketing Success
Sponsored by:
#eMwebinar
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Believe in the Magic of Engaging and Measuring
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Can you identify with these two problems?
• Lack of adequate metrics and measurement systems to drive marketing performance
• Frustration with how to effectively engage online consumers, who have short attention spans, face abundant choices and are increasingly resistant to advertising messages
Twitter: #eMwebinar @geofframsey
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$1 TrillionTotal US Marketing
(VSS, Myers, PwC, etc.)
$1 TrillionTotal US Marketing
(VSS, Myers, PwC, etc.)
$368 BillionAdvertising & Marketing
(Outsell)
$157 BillionTraditional & Digital
Advertising(eMarketer)
$31 BDigital
(eMarketer)
Internet as “Hub”Consumer time & engagementHuge purchase influenceMedia measurement “hook”= 20% of total media in 2011
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MAGNAGLOBAL….. 15.6%Deutsche Bank……. 15.3%Barclays................... 15.2%Morgan Stanley……. 14.8%Citi…………….......... 14.6%Winterberry Group…. 14.0%WARC…..….. ………. 13.7%Caris & Co.…………. 13.3%GroupM……………... 13.0%ZenithOptimedia……. 12.6%
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65%
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Can you identify with these two fundamental problems?
• Lack of adequate metrics and measurement systems to drive marketing performance
• Frustration with how to effectively engage online consumers, who have short attention spans, face abundant choices and are increasingly resistant to ad messages
Secret #1 is all about the need for Performance
Measurement…
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Marketer’s view of performance measurement
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“The challenge is: ‘Prove to me that marketing works’… that the investments are paying back in both short- and long-term deliverables.”--Bob Liodice, CEO, ANA
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The most commonly used metrics (CTR/time spent) cannot be used by themselves
The industry has not come up with a common definition of engagement that is aligned with business results and ROI.
Performance measurement online: know the right metrics framework
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Secret #2 gets at the problem of
engagement with digital consumers
Twitter: #eMwebinar @geofframsey
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4.4%
43%of consumers say they ignoreor disregard banner ads more
than any other type of ad.
Source: AdweekMedia/Harris Poll,October 2010
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Chaos Theory
BreakoutSessions
Today’s Panels:• Digital re-aggregration of media dust
• Digital is making the media universe fly apart at an accelerated rate
Rishad
Peter
John
Bob
The classic interruption/disruption model of advertising is waning…
Buy Now!
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“We need to create experiences, not just sponsor
content.”--Frank Cooper, CMO, Pepsi
“Marketers are focusing on creating Magnetic
Content – so entertaining, relevant, informative or
useful that it demands the consumer’s
time and attention.”
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The Magnetic Content approach turns targeting on its head.
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Five Criteria for Magnetic Content
1. Is the content Unique?
2. Is it Useful?
3. Is it Well Executed?
4. Is it Fun?
5. Does it make good use of the channel in which it appears?
“What can I do for you, the consumer, that is unique and valuable—i.e., truly worth your time and attention?”
“What can I do for you, the consumer, that is unique and valuable—i.e., truly worth your time and attention?”
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Is it Unique?
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Is it Unique?
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Is it Useful?
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Is it Fun?Home sales of blenders
up 700% since the video series began!
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Is it Well Executed?
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Creative execution counts
Twitter: #eMwebinar @geofframsey
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Use “paid media” (e.g., display ads) to drive consumers to your Magnetic Content
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Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit RateTime on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
How do we optimize traffic?How do we optimize traffic?
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Does the media drive high quality traffic?Does the media drive high quality traffic?
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
How do we improve our creative?How do we improve our creative?
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentsComments ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Do we have the right site content?Do we have the right site content?
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Is site navigation working as intended?Is site navigation working as intended?
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
Click-Thru RateClick-Thru Rate
Cost Per LeadCost Per Lead
Cost per ClickCost per Click
View-ThrusView-Thrus ReachReach
Interaction Rate
Interaction Rate LeadsLeads
FrequencyFrequency
ImpressionsImpressions
Share of VoiceShare of Voice
DownloadsDownloads Conversion Rate
Conversion Rate CommentComment ForwardForward Return VisitsReturn Visits
Bounce RateBounce Rate Time on SiteTime on Site Page ViewsPage Views Video ViewsVideo Views Registration Rate
Registration Rate
Evaluating online adsEvaluating online ads
Time on PageTime on Page Page CTRPage CTR Circular PathsCircular Paths Exit RateExit Rate
Too many metrics… big challenge is deciding the right metric
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Start with right measurement framework
Perceptual & Behavioral Outcomes
FinancialOutcomes
MarketingInvestment
LINKAGE
LINKAGE
LINKAGE
31
Financial/business metrics used to quantify business performance
Low level measures related to the performance of individual channels
Higher level metrics that capture engagement, as well as brand health and changes in customer preference and perceptions
Twitter: #eMwebinar @geofframsey
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1. Qualified Reach, Visits
2. CTR
3. Brand perception Lift
4. Engagement Score
5. End Action Rate (e.g., acquisition, redemption, trial, purchase, etc.)
6. Efficiency Metrics (Cost/X)
7. ROI
The 7 most important metrics to master
I. Exposure Metrics
II. Strategic Metrics
III. Financial Metrics
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Engagement Score aligned to the objectives of the content
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Recommend, referrals
Profiles, Upload pictures
Send to friend, Social media
Signup, Email, Coupon, WTB
Rate, Vote, Add comments
Play videos, Demos
Content, Pictures
HIGHER VALUE
LOWER VALUE
EngagementValue Continuum
Advocate
ILLUSTRATIVE ENGAGEMENT
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Engagement Index Methodology
1 Point1 Point
1 Point1 Point1 Point1 Point 1 Point1 Point 1 Point1 Point
2 Points2 Points1 Point1 Point
2 Points2 Points
3 Points3 Points
3 Points3 Points
2 Points2 Points
3 Points3 Points 1 Point1 Point2 Points2 Points
2 Points2 Points 1 Point1 Point1 Point1 Point
2 Points2 Points
Applying Engagement Score to a Microsite
Twitter: #eMwebinar @geofframsey
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Engagement Score
Advocate Recommendation, referral
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Applying Magnetic Content and Performance Measurement to the Six Digital Channels
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Sample Sample Digital Digital
Channel:Channel:SocialSocialMediaMedia
Sample Sample Digital Digital
Channel:Channel:SocialSocialMediaMedia
Social Media: Connections that Count
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Affluent (Dwell Strategy + Research, March, 2010) 78%Affluent (Dwell Strategy + Research, March, 2010) 78%
Millennials 18 - 34 82%
Teens 12 - 17 78%
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Social media spending will continue to explode in 2011
10% of total US online ad spend
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Social media spending will continue to skyrocket in 2011
10%of total US online ad spend
33% of display impressions*
17% of display ad dollars**
*comScore, 2011**eMarketer, 2011
It’s less about buying social media, and more about how you can earn
and own it!
It’s less about buying social media, and more about how you can earn
and own it!
It’s all a matter of
TRUSTIt’s all a matter of
TRUST
Consumers trust each other more than they do marketers
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Four best practices for Magnetizing customers through social media:
• Leverage the secret ingredient: Trust
• Listening leads to learning
• Add Value to the conversation (à la Magnetic Content!)
• Focus on your Core Enthusiasts
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How can you leverage trust through social media?
• Let your fans come to your rescue
• Allow for customer ratings & reviews
Transparency Trust=
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A. Learn how consumers talk about your brand, product or service category• Notice what words and language they use• Learn about their interests and intentions
B. Discover real or perceived problems with your product or customer service
Listening Leads to Learning
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“By listening carefully, we harness social media as an early alert system...so we can react quicker to issues.” --Richard Brinhammer, Dell
“Warning!
Warning!”
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Add value to the conversation…
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Censored
UniqueUsefulWell executedFunGreat use of channel
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Focus on Your Brand Enthusiasts:
Prospects
Customers
CORE
Find them via Social
Media
Nurture them
carefully
Empower them to share
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Consumers Who “Like” or Follow a Brand:
•Are more likely to buy 1, 3, 4…………………. 51%
•Tend to spend more money 2……………….. $71
•Are more likely to recommend 1, 3, 4……..…. 60%
•Are more likely to be loyal to the brand 3 …. 34%
Sources: 1) Chadwick Martin Bailey, Mar, 2010; 2) Syncapse, 2010;3) ROI Research, June, 2011; 4) DDB Worldwide and OpionWay
Research, Oct, 2010
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% of marketers who say their ability to measure ROI for media channel is “good”
Social media 19%Social media 19%
Paid search 54%Paid search 54%
N = 567 global marketers,2010
E-mail marketing (acq) 53%E-mail marketing (acq) 53%
Online display 37%Online display 37%
TV 21%TV 21%
Newsp/Mags 20%Newsp/Mags 20%
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If hard ROI metrics are difficult to track directly, consider a range of softer metrics that can be linked back to desired outcomes.
“Hard” ROI
• Sales• Leads• Cost-per-sale• Profits
# of Likes
# of TwitterFollowers
BrandSentiment
Video Sharing
# ofBrand
Searches
“Soft” Metrics(i.e., Measures of Engagement)
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Applying our framework to social media
Perceptual & Behavioral Outcomes
FinancialOutcomes
MarketingInvestment
LINKAGE
LINKAGE
LINKAGE
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Identify the specific metrics that will be measured within each bucket
I. Exposure
Social Networks (Facebook/Myspace): •Number of fans/friends •Number of comments
Twitter: •Number of followers •Number of tweets•Number of re-tweets
Videos/Photos (YouTube, Flickr): •Number of views •Number of comments •Number of pass-alongs
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Brand Perception Lift (measured pre- and post, test vs. control):•Brand awareness•Brand attribute lift•Brand Favorability•Purchase intent
Engagement Score:•Based on actual behavior, it represents the degree of magnetism for your social content•Assign points (e.g., a status update or tweet will have a lower value than adding a new fan or follower)
II. Strategic
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Efficiency Metrics of Cost per X: Cost per fan/friend/follower/memberCost per comment/tweetCost per brand perception liftCost per increase in purchase intent
# of Qualified Leads
Sales/Purchases
ROI
III. Financial*
*Transcend individual social channels
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Using consumer panels, design a ‘test & control’ (A/B) approach to compare outcomes for each metric
• Identify and segment individuals in your target audience into two groups: those Exposed to social content and a Control group (not exposed)
• Compare outcomes (e.g., purchase history, intent to purchase, sign-ups for a demo) between the two groups by measuring the ‘lift’
• Calculate ROI for the initiative…
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Once you have the right set of metrics, can you get to ROI?
Access to a purchase is required
Visibility into Purchase through:
a) Self-reporting (surveys)b) Matching to transaction database
c) Capturing online purchases
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Calculating ROI for social media:
VALUE for Exposed Group
VALUE for Control(not exposed) Group
Fully LoadedCosts
X 100%
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ROI approach illustrated with an example
ConsumersConsumers
Incremental Sales LiftIncremental Sales Lift
Incremental RevenueIncremental Revenue
CostCost
ROIROI
ValueValue
$1,480,449 $1,480,449
6 to 16 to 1
77,753 77,753
$10,457,414 $10,457,414
500,000500,000
ProfitProfit $8,019,414 $8,019,414
Primary goalPrimary goal Acquire new prescriptionsAcquire new prescriptions
Incremental sales from testsales data obtained from panel
Incremental sales from testsales data obtained from panel ApproachApproach
Used panels for, incremental prescriptions
Prescriptions X price
Price X margin
Loaded costs
Profit/costs
Unique visitors Viewing content
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Key Takeaways:
• Magnetic Content is a complement to your traditional “paid media” efforts – it’s about attraction, not distraction
• Performance Measurement is about selecting the right metrics from across the three categories of the metrics pyramid (Exposure, Strategic, Financial)
• Follow the steps, guidelines and frameworks in the book to drive Digital Impact
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LivePersonCreating Customer Connection
June 30, 2011
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LivePerson – Enables Meaningful, Real Time Customer Connections
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Secret #2 gets at the problem of engagement with digital
consumers
Deliver Timely, Relevant Content to Your Customers
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Deliver Timely, Relevant Content to Your Customers
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Create Your Own Virtual Social Media Monitoring Room…With Real Time Response
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Using predefined business rules, you can respond with a Tweet of your own, inviting the customer to chat with a representative to resolve their issue in real-time:
A customer shares feedback on Twitter:
Create Your Own Virtual Social Media Monitoring Room…With Real Time Response
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LivePerson can help you engage with your digital customers!
Connect with us…
www.liveperson.com
www.facebook.com/LivePersonInc
@liveperson
User: LivePersonCommunity
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Secrets to Online Marketing Success
Questions & AnswersRegistrants will receive an email tomorrow that includes a link to view the deck and webinar recording.
For more discussion, please join us after the webinar on LinkedIn. Search for the eMarketer Group and click on Discussions.
To learn about eMarketer Total Access please visit www.emarketer.com/productsor contact us: (800) 405-0844 or [email protected]
Digital Impact: The Two Secrets to Online Marketing Success – Now Available
Twitter Hashtag: #eMwebinar
Sponsored by:Presented by:Geoffrey RamseyCEO & Co-Founder, eMarketer, Inc.