Week2 chapters1 3
- 2. What is a Strategy?
- 3. A plan of action designed to achieve a particular goal.
- 4. What is Digital Marketing?
- 5. It aims to create demand using the power of the Internet.
- 6. It is measurable. It gives brands opportunity to build tailored, optimised brand experiences Image credit: Living Shadow from Wikimedia Commons http://commons.wikimedia.org/wiki/File:Tape_measure_colored.jpeg
- 7. So then, what is a Digital MarketingStrategy?
- 8. Builds on traditionalmarketingstrategy, using the benefits and challenges within the digital medium.
- 9. Integrated online and offline strategies are key. They speak to an overallbrandidentity which is vital to achieve an organisation‟s goals.
- 10. Strategy is about choices
- 11. The brand that attempts to be all things to all people riskslosing the clarity of its value proposition. Image credit: D Sharon Pruitt
- 12. Consider the factors that affect your business.
- 13. For example: •Market •Competitor landscape •Customers •Core competencies
- 14. The Internet has changed traditional marketing models...
- 15. Porter’s 5 Forces The 4 P’s
- 16. The 4P’s: product, price, placement and promotion; and Porter 5 Forces analysis have been re-examined and adapted.
- 17. The Internet allows for new ProductsandServices.
- 18. They can be customised en masse, e.g. NIKEiD (http://nikeid.nike.com).
- 19. Pricing information is accessible on comparison websites. (www.pricerunner.co.uk and www.nextag.com)
- 20. Businesses need to differentiate on value – customers may pay a higher price for better value.
- 21. Placementand distribution is no longer determined by location (online bookings, eTicketing, mail order etc.).
- 22. Various technologies (APIs, SOAP services, RSS and XML) allow information and services to be distributed throughout the world.
- 23. Promotion online can be tracked, measured and targeted more effectively.
- 24. The new P: People Allows for personalisation, peer-to- peer sharing, communities and consumer-centric organisations.
- 25. Seth Godin recommends these five elements: •Data •Stories •Products •Interaction •Connection
- 26. Data: The raw facts about your product or service. Online data is richer than ever before!
- 27. Stories: Markets are „conversations‟. Brands create stories.
- 28. Products: Physical manifestations of your story.
- 29. Interactions: Tactics to connect with consumers. Comprise touchpoints of the brand.
- 30. Connection: Like the 5th „P” – people „fall in love‟ with your brand.
- 31. Creating and implementing a strategy.
- 32. Must cover: •Who you are •What you are offering •Who you are offering it to •Why and how you are doing this
- 33. Consider context. Understand your business and market.
- 35. Objectives: Consider creativity and technology. These should speak to the system AND the story.
- 36. They should also be aligned with the greater strategic objectives of your brand.
- 37. Value exchange: •What value are you adding to the market? •What constitutes success? •How do you measure this?
- 38. Tactics...The how. The strength of the tools is dependent on the type of objectives set.
- 40. Metrics: How will you measure value exchange? These are the key performance indicators (KPIs). Set them up early on!
- 41. Ongoing optimisation: Monitor, measure, experiment, learn, be proactive! Google Insights; Flickr; Delicious; Spyfu; Quirk SearchStatus; SEO Book’s Rank Checker; Change Use tools to gather data: Detection; Google Alerts; BrandsEye; Google Patent Search; Google Adwords External Keywords Tool; Google Trends; YouTube Selection Tool, etc.
- 42. Market Research
- 43. What is market research?
- 44. Gathering, recording and analysing data and information about customers, competitors and the market.
- 45. Primary research data is information gathered for a particular product or hypothesis.
- 46. When information does not exist/is not accessible, and needs to be specifically collected.
- 47. For example: Surveys, focus groups, research panels and research communities.
- 48. Secondary research data is existing, published data and research.
- 49. Often more cost-effective than primary research and the Internet opens a wealth of resources.
- 50. Quantitative research is numerical data to demonstrate statistically significant outcomes.
- 51. Qualitative research: •Exploratory •Identifies potential hypotheses •Seeks to find out potential consumer perceptions and feelings
- 53. The Internet was originally a tool for academics to share information.
- 54. Now used by consumers to: •Research products and companies •Gather information •Compare pricing
- 55. So now it is a useful tool for primary and secondary research. AND It can be used to gather both qualitative and quantitative data.
- 56. It can be used to easily and accurately conduct surveys.
- 57. Consumers‟ online habits can be recorded through web searches, online surveys, online reputation management tools, etc.
- 58. Online tools and research methods = broader, faster and more detailed forms of information gathering.
- 59. The Internet vs. traditional market research
- 60. Internet market research: •Is cost-effective •Targets a large number of people
- 61. But it can lead to sample error if not carefully planned and managed. Image Credit: Tim Davies
- 62. Data is only meaningful if it is representative.
- 63. So consider: •The nature of the study •The validity and legitimacy •Goals and expectations
- 64. Use web analytics tools and online reputation management (ORM) in online market research. They play a big role in providing data.
- 66. •Establish goals •Determine your sample •Choose data collection method •Collect data •Analyse results •Produce reports
- 67. Primary and secondary research
- 68. Secondary research should: •Precede primary research •Uses data that already exist for analysis •Be considered in solving the problem
- 69. Use: •Web analytics data, customer communications data, social networks etc. •Search tools - www.google.com and advanced tools - http://www.google.co.za/advanced_search?hl=en •Research publications online
- 70. Primary research can be qualitative or quantitative: •Explore a market •Develop the hypotheses or research questions (qualitative at this stage)
- 71. e.g. online research communities: •Can be used to identify unmet customer needs •And brainstorm possible solutions
- 72. Then use quantitative research to investigate further!
- 73. There are numerous data collection methods: Focus groups; interviews; research communities etc.
- 74. Technology and Online surveys: •Data captured immediately •Analysis is quick •And they‟re cost effective!
- 75. Technology means they can also be more user-friendly.
- 76. Types of Questions. Open ended: What features would you like to see on the website for the eMarketing textbook?
- 77. Closed-ended: Do you use the eMarketing textbook website? Choose one that applies. Yes No
- 78. Ranked or ordinal questions: Rate the features of the eMarketing textbook website, where 1 is the most useful and 4 is the least useful. Blog Case studies Free downloads Additional resources
- 79. Matrix and rating types:
- 80. They can be balanced or unbalanced – determining whether someone can express a neutral opinion or not.
- 81. Offer incentives to get a response.
- 82. Assure respondents of the time commitment, and privacy implications.
- 83. 7 steps to conducting surveys. 1. Establish goals 2. Determine sample 3. Choose methodology 4. Create questionnaire 5. Pre-test 6. Gather data 7. Analyse
- 84. Use free tools: e.g. 4Q Surveys - http://www.4qsurvey.com/
- 85. What about sample error?
- 86. Design is crucial - test and run pilots.
- 87. Ensure respondents don‟t become desensitised.
- 88. Limit respondents to being interviewed once every six months to stop incentives affecting data.
- 89. Also consider who you are targeting. What is the best way to reach them?
- 90. Case Study
- 92. Online reputation management service, BrandsEye, needed to revamp its interface to suit its evolving user‟s needs.
- 93. In 2010, they sought to find out exactly what the market wanted from the product.
- 94. To gather data they used: •Focus groups •Personal, one-on-one interviews •Online conversation monitoring •Active online engagement
- 95. They gathered: •Qualitative data from the users directly •Quantitative data from online mentions (using the BrandsEye tool itself)
- 96. So they could: •Direct the business development •Prioritise software changes •Direct resource allocation
- 97. BrandsEye approached key clients to gauge reaction and get input, and plotted results on a persona matrix.
- 98. They created a hypothesis, and continually tested it.
- 99. Users were able to critique BrandsEye features while it was still in Beta.
- 100. This allowed BrandsEye to get over 200 pieces of functional feedback on the system. They solved upward of 77% of these items in the first week.
- 101. When BrandsEye Version 2 launched in early February 2011, it received more than 700 tweets in three days and more than 20 press articles in the same time.
- 102. Crowdsourcing
- 103. What is it? Image credit: Alexander Kesselaar
- 104. “Crowdsourcing is the act of taking a task traditionally performed by an employee or contractor and outsourcing it to an undefined, generally large group of people in the form of an open call” (Wikipedia).
- 105. Its not a new idea… The 19th century Oxford English Dictionary was crowdsourced.
- 106. In 1714 the Longitude prize was awarded for the simplest solution for determining a ships longitude.
- 107. Then came the Internet
- 108. Now the crowd: •Is larger •Is more connected •Offers more levels of skill for contributions
- 109. The Internet: •Provides a global distribution channel •Allows for fasterpublishing •Means ideas are now regulated by value
- 110. Organisations can gaininsight into their customers‟ needs and desires and buildproducts and services that meetthem.
- 111. Commercially clients can: •Pay once-off for numerous solutions •Pay only for solutions they use •Not limit themselves to „traditional‟ solutions Image Credit: Creative commons, AMagill
- 112. Non-commercially the crowd can create a poolofinfo and ensure it is accurate.
- 114. Early adapters of crowdsourcing: Threadless (www.threadless.com) iStockphoto (www.istockphoto.com) InnoCentive (www.innocentive.com)
- 115. The “rise of the amateur”
- 116. An idea that took tenminutes to come up with may be as good or better than one that took ten hours to develop.
- 118. Invention – sourcing ideas for new or existing product development. e.g. My Starbucks Idea (www.mystarbucksidea.com)
- 119. Creation – new content created, owned and maintained by a community on an existing platform. e.g. Idea Bounty (www.ideabounty.com).
- 120. Organisation – Create new content by organising already existing content. e.g. Digg (www.digg.com)
- 121. Prediction – predict trends by asking the community to submit ideas and vote. e.g. Yahoo! Buzz (www.yahoo.com/buzz)
- 122. How does it work in business?
- 123. •To developproducts •For newbusiness and initiatives •To communicateideas •Prediction and forecasting
- 124. Twoapproaches to managing a campaign:
- 125. 1. Centrally located: A guidingforce is used to channel ideas and formalise the process.
- 126. 2. Community controlled: The community controls the process and the outcome.
- 127. The Community
- 128. •The most important asset in crowdsourcing •Aim to understand why they exist and what motivates people to participate
- 129. It is vital to understand and address community needs: •How should it be managed? •What rewards should be put in place?
- 131. •Consumer involvement •Fresh input •Opportunities and connections that did not exist before •Problems can be explored quickly at low cost
- 132. •Only pay for what is used •Tap into a range of talent outside internal resources •Gain valuable insight into the desires of their customers
- 134. •Lack of agency guidance or strategic direction •Little control over production value •For spec work the risk/reward ratio is high •Ethics and opinions could be questionable, leading to incorrect assumptions of reliability
- 135. •IP of work is often disregarded with no written contracts etc. •Added costs may be needed to bring a project to a conclusion •Lack of financial motivation or reward may lead to lower work quality •Difficulties may arise in maintaining a working relationship with the community
- 136. The new agency model
- 137. Marketing and branding are nolonger owned and managed by one agency.
- 138. Through crowdsourcing, amateurs can now communicate ideas to global brands. This generatesPR and direct interaction with a consumer Image credit: ming888 base.
- 139. But a marketing agency will still be needed for brand strategy development.
- 140. Remember...
- 141. •Proper planning is essential! •Remunerate communities adequately to avoid a negative PR backlash •Use crowdsourcing to tap into the collective knowledge of more than one billion people