Social, Mobile, Local - Summary PDF

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Week 5 - Marketing Plan & Social, Mobile, and Local Marketing Learning Objectives -

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7.1 Understand the difference between traditional online marketing and the new socialmobile-local marketing platforms and the relationships between social, mobile, and local marketing 7.2 Understand the social marketing process from fan acquisition to sales and the marketing capabilities of social marketing platforms such as Facebook 7.3 Identify the key elements of a mobile marketing campaign 7.4 Understand the capabilities of location-based local marketing

Social, Mobile, & Local Marketing -

New marketing concepts o Conversations o Engagement

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Impact of smartphones and tablets Social-mobile-local o Strong ties between consumer use of social networks, mobile devices, and local shopping

Social Marketing -

Traditional online marketing goals o Deliver business message to the most consumers

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Social marketing goals o Encourage consumers to become fans and engage and enter conversations o Strengthen brand by increasing share of online conversation

Online Advertising -

Online advertising o Display, search, mobile messaging, sponsorships, classifieds, lead generation, e-mail o Fastest growing form of advertising o Advantages:  Target audience is online  Ad targeting  Price discrimination  Personalization

Establishing the Customer Relationship -

Web site functions to: o Establish brand identity and customer expectations  Differentiating product o o o

Inform and educate customer Shape customer experience Anchor the brand online  Central point for all marketing messages

Traditional Online Marketing and Advertising Tools -

Search engine marketing and advertising Display ad marketing E-mail marketing Affiliate marketing Viral marketing Lead generation marketing Social, mobile, and local marketing and advertising

Search Engine Marketing and Advertising -

Search engine marketing (SEM) o Use of search engines for branding

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Search engine advertising o Use of search engines to support direct sales

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Search engine optimization (SEO) Social search o Utilizes social graph (friend’s recommendations, past Web visits, Facebook Likes) to provide fewer and more relevant results

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Search engine issues o Click fraud

Display Ad Marketing -

Banner ads Rich media ads Video ads Sponsorships Advertising networks Advertising exchanges and real-time bidding

How an Advertising Network Such as DoubleClick Works

E-mail Marketing -

Direct e-mail marketing o Messages sent directly to interested users o Benefits include  Inexpensive  Measuring and tracking responses  Personalization of messages and offers

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Three main challenges o Spam o Anti-spam software o Poorly targeted purchased e-mail lists

Other Types of Traditional Online Marketing -

Affiliate marketing o Commission fee paid to other Web sites for sending customers to their Web site

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Viral marketing o Marketing designed to inspire customers to pass message to others

ComScore - April 2016 -

Mobile now represents 65 percent of digital media time, while the desktop is becoming a "secondary touch point" for an increasing number of digital users.

Social Marketing and Advertising -

Fastest growing type of online marketing Targets the enormous audiences of social networks

Mobile Marketing and Advertising -

Mobile online marketing, growing rapidly Major formats: o Display, rich media, video o Games o E-mail o Text messaging (SMS) o In-store messaging o Quick Response (QR) codes o Couponing

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App marketing

Facebook: Putting Social Marketing to Work -

Have you ever made a purchase based on something you have read or seen on Facebook? What was the product and what made you interested?

Online Marketing Platforms

Engagement at Top Social Sites (2014)

Engagement at Top Social Sites (2015)

Social Marketing Players -

The most popular sites account for over 90% of all social network visits o Facebook, Instagram, Twitter, LinkedIn, Pinterest, Snapchat & Tumblr o Unique visitors vs. engagement  Engagement measures the amount and intensity of user involvement  Facebook dominates in both measures

Marketing on Other Social Networks -

Instagram o Brand profiles, ad campaigns (display and video), Buy buttons, Marquee ads

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LinkedIn o Company profiles, showcase pages, Career Page, Display ads (Feeds), self-service ads or Advertising Partner Solutions, sponsored inMail, LinkedIn Pulse

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Snapchat o Snapchat Stories, Live Stories, Discover, Snap Ads, Sponsored Geofilters, Sponsored Lenses

FB Results Q2 2017 -

This quarter (Q2, 2107) we reached an important milestone for our community 2 billion people now use Facebook every month, and more than 1.3 billion people use it daily We also saw good results on the business, with total revenue growing by 45% year over year to $9.3 billion, and advertising revenue up 47% to $9.2 billion. (Mark Zuckerberg Facebook, Inc., 26 July 2017)

The Social Marketing Process -

Five steps in social marketing, also applicable to local and mobile marketing

Measuring Facebook Marketing Results -

Basic metrics: o Fan acquisition (impressions) o Engagement (conversation rate) o Amplification (reach) o Community o Brand strength/sales

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Facebook analytics tools o Facebook Page Insights o Social media management systems (HootSuite) o Analytics providers (Google Analytics, Webtrends)

Facebook Marketing -

Basic Facebook features o News Feed o Timeline (Profile) o Graph Search

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Social density of audience is magnified o Facebook is largest repository of deeply personal information o Facebook geared to maximizing connections between users

Facebook Marketing Tools -

Like, Share Button Brand Pages News Feed Page Post Ads Right-Hand Column Sidebar Ads Mobile Ads Facebook Exchange (FBX)

Typical Facebook Marketing Campaign -

Establish Facebook brand page Use comment and feedback tools to develop fan comments Develop a community of users Encourage brand involvement through video, rich media, contests Use display ads for other Facebook pages and social search

Case Studies -

AKBank - The Turkish bank used Facebook mobile app ads to promote its loan products, resulting an average of over 500 customer conversions per day during the campaign

15% of personal loans granted by the bank during the campaign originated with Facebook ads o 45% of approved loan applications made via the Akbank Direct mobile app originated with Facebook ads o 70% lower cost per loan compared to other performance marketing channels o Several methods used: 1- Installed a Facebook pixel on its website a. Using the pixel, Akbank could obtain a anonymised list of which Facebook users had visited their personal loan pages, and use that information to serve those customers relevant ad creative on Facebook. 2- Akbank also used Facebook’s mobile measurement partner Adjust to segment its customers based on their mobile app usage, activity and behaviours 3- The bank also used Facebook’s core audience targeting to pinpoint people who were more likely to have high credit scores, and Custom Audiences to exclude those who have already been assessed. o

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Pepsi Max launched a viral video with magician Dynamo on Facebook, which reached +50% of the UK’s daily active internet population and returned better results than other social video platforms

Typical Facebook Marketing Campaign -

Establish Facebook brand page Use comment and feedback tools to develop fan comments Develop a community of users Encourage brand involvement through video, rich media, contests Use display ads for other Facebook pages and social search Display Like button liberally

Twitter Marketing -

Real-time interaction with consumers 315 million active users worldwide o Over 90% access Twitter from mobile device

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Will Twitter become the next Google? Basic features o Tweets, retweets, followers, message (DM), hashtag, mention, reply, links o Moments tab, timeline

Twitter Marketing Tools -

Promoted Tweets Promoted Trends Promoted Accounts Enhanced Profile Page Amplify

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Promoted Video Television Ad Retargeting Lead Generation Cards Mobile Ads

The Downside of Social Marketing -

Loss of control o Where ads appear in terms of other content o What people say  Posts  Comments  Inaccurate or embarrassing material

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In contrast, TV ads maintain near complete control

Mobile Marketing -

Devices used multiple times per day Mobile marketing formats o Banner ads, rich media ads, & video ads o Games o E-mail & text messaging o In-store messaging o Quick Response (QR) codes o Couponing

The Growth of Retail and Travel M-Commerce

How People Actually Use Mobile Devices -

Average of 3 hours daily on mobile devices o 42% entertainment o 16% social networks o 70% occur in home

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Activities are similar to desktop activities Rapidly growing smartphone m-commerce sales Mobile devices currently used more for communicating and entertainment

How People Use Their Mobile Devices to Shop

In-App Experiences and Ads -

Mobile use o Apps—60% of smartphone time  Almost 75% of app time spent on user’s top 3 apps o

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Users use about 27 apps/month

App marketing o Most effective are in-app ads o Placed in most popular apps o Targeted to immediate activities and interests

The Multi-Screen Environment -

Consumers becoming multi-platform o Desktops, smartphones, tablets, TV o 90% of multi-device users use multiple devices to complete action  View ad on TV, search on smartphone, purchase on tablet o

Marketing implications  Consistent branding  Responsive design  Increased complexity, costs

Mobile Marketing Features -

Mobile marketing 64% of all online marketing Dominant players are Google, Facebook Mobile device features o Personal communicator and organizer o Screen size and resolution o GPS location o Web browser o Apps o Ultraportable and personal o Multimedia capable o Touch/haptic technology

The Top Mobile Marketing Firms by Revenue (2016)

Mobile Marketing Tools: Ad Formats -

Mobile marketing formats o Search ads o Display ads o Video, rich media o Messaging: text/video messaging o Others: e-mail, classifieds, lead generation

Mobile Ad Spending by Format (2016)

Mobile Marketing Campaigns -

Mobile website Facebook and Twitter brand pages Mobile versions of display advertising campaigns Ad networks Interactive content aimed at mobile user Tools for measuring responses o Key dimensions follow desktop and social marketing metrics

Measuring the Effectiveness of a Mobile Marketing Campaign

Local and Location-Based Marketing -

Location-based marketing o Targets messages to users based on location o Marketing of location-based services

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Location-based services o Provide services to users based on location  Personal navigation  Point-of-interest  Reviews  Friend-finders, family trackers

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Consumers have high likelihood of responding to local ads

The Growth of Local and Location-Based Mobile Marketing -

Prior to 2005, nearly all local advertising was non-digital o Google Maps (2005)  Enabled targeting ads to users based on IP address and general geographic location

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Smartphones, Google’s mobile maps app (2007)  Enabled targeting ads based on GPS

Location-based mobile marketing o Expected to triple over next five years

Local, Mobile, and Location-Based Mobile Marketing

Location-Based Marketing Platforms -

Google o Android OS, Google Maps, Google Places, AdMob, AdWords

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Facebook Apple o iOS, iAd

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Twitter Others: YP, Pandora, Millenial

Location-Based Mobile Marketing Technologies -

Two types of location-based marketing techniques o Geo-aware techniques  Identify location of user’s device and target ads, recommending actions within reach Proximity marketing  Identify a perimeter around a location & target ads within that perimeter Identifying locations o GPS signals o Cell-tower locations o Wi-Fi locations o

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Why Is Local Mobile Attractive to Marketers? -

Mobile users more active, ready to purchase than desktop users Over 80% of U.S. smartphone users use mobile devices to search for local products, services o 50% visit a store within 1 day of local search o 18% make a purchase

Location-Based Marketing Campaigns -

Location-based considerations o Action-based, time-restrained offers and opportunities o Target demographic and location-aware mobile user demographics o Strategic analysis of marketspaces

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Measuring marketing results o Same measures as mobile and web marketing o Metrics for unique characteristics  Inquire  Reserve  Click-to-call  Friend (SMS to friend)  Purchase

FT – A Remodel for 21st Century publishing profitability -

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Introduced a HTML5 web app across all their platforms Yielded significant cost savings in comparison to building a native app for each platform and also liberated them from app stores and their commission fees Introduced two modes: 1- Live: A modern presentation of the news which updates with new stories throughout the day 2- Morning: A classic version presented in the style of a traditional newspaper A number of optimisations and recommendation features were also introduced Ads could now be interspersed with articles or triggered between pages, rather than taking up whole pages FT has committed to improving their service, introducing their most optimised site yet in 2016 o Fastest page load times yet  Readers more likely to engage if it loads faster o o

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Gift articles to friends More features have attracted more advertisers as well as subscribers

Providing a soothing/familiar experience to older readers while also introducing new, more convenient technologies Also attracting more younger readers with constant commitment to investing in new technologies o VR experiences o Partnered with google cardboard

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Invested in cookies and app cache technologies to provide value to users who constantly switch between desktop and mobile o Can now view some content offline

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Noticed that majority of content viewed during work hours was on desktop, but the rest on mobile o Created separate app for their weekend content

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Continues to go from strength to strength o Sold to Nikkei for 1.3bn o Focus on paywalls, subscriptions, and advertising  Quality over quantity approach to advertising

Lean Strategy What many entrepreneurs fail to grasp is that rather than suppressing entrepreneurial behaviour, effective strategy encourages it—by identifying the bounds within which innovation and experimentation should take place The reality is, integrating the bottom-up approach of lean start-ups with the top-down orientation of strategic management remains devilishly hard. Is there a way to get the best of both worlds Yes. The solution is something I call a lean strategy process, which guards against the extremes of both rigid planning and unrestrained experimentation THE ISSUE -

Leaders of start-ups often see strategy, the pursuit of a clearly defined path that is systematically identified in advance, as the enemy of entrepreneurship, which requires ventures to be opportunistic and quickly shift course as they learn what customers want

THE REALITY -

Entrepreneurs badly need strategies that articulate what their ventures will and will not do. Such boundaries are crucial for making the most of scarce resources, deciding which ideas to pursue, and evaluating experiments. But a rigid, fixed strategy is dangerous

THE SOLUTION -

The lean strategy process integrates the bottom-up approach of the lean start-up with the top-down orientation of strategic management. In an iterative fashion, the venture builds new capabilities and revises the original strategy in response to what it learns

The Entrepreneur’s Challenge -

The opportunity cost of doing A is that you cannot also do B Decisions are interdependent o If John in marketing does A, it has ramifications for Peter in product development, and vice versa

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Simple market tests aren’t always useful o The lean start-up camp celebrates agility and adaptation through rapid testing. That may be an effective way to innovate incrementally and fine-tune an offering’s fit with the market, but some ideas simply cannot be evaluated in a series of quick, cheap experiments

How Strategy Can Help In a world governed by the principles discussed here, a strategy that articulates the firm’s overall direction is indispensable. It helps entrepreneurs do four things 1- Choose a viable opportunity a. Rigorous strategic analysis can distinguish markets that promise enduring success from those that offer only the illusion of substantial, if immediate, returns. Many a new firm has failed because it pursued the latter. The archetypal example is a business with low barriers to entry b. Another misstep is entering a large and growing market without analysing whether the firm will be able to build a sustainable competitive advantage in it. Best Buy, Mattel’s line of Barbie dolls, eBay, and a slew of others entered China thinking that anyone could make money there—only to fail. It may be much wiser to pursue several smaller, less risky opportunities that together could create a successful longterm business c. An initial strategic screen can save a venture from going down the wrong path: one that might be readily validated by a market test of a minimum viable product but is unlikely to support a long-term business 2- Stay focused on the prize a. Ventures that lack strategic bounds try to do too much and spread themselves too thin. Because they fail to concentrate their available resources, they can’t win in any key market b. Sophia Amoruso, founder of Nasty Gal, initially succeeded in building a business that resold vintage clothing on eBay. Then she diversified into a variety of new activities: selling brand-name designer clothing; a magazine; an autobiography (#GirlBoss) and promotional book tour; retail stores; international websites; and branded products such as shoes, swimwear, lingerie, and home goods. Seduced by an overabundance of opportunities, she threw a lot of ideas against the wall to see what would stick. But with no clear focus, employees stumbled over one another, competing for resources—including Amoruso’s attention— and growth stalled c. She stepped down as CEO in January 2015 3-

Align the entire organization a. In tiny start-ups, it may be possible to coordinate activities through daily personal interaction. In larger ventures, project management or a bureaucracy can help somewhat with...