Web 2.0 Mike Moran

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Marketing 2.0: How the Web Changes the
Old Marketing Rules

Mike Moran
February, 2008

***+,quot;#$,&'()+-&, © 2008 Mike Moran

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The good old days in marketing
It’s the
real thin
! The best creative folks came up with a g
great message for a mass market Ca
n’t
it! Rea Beat
! We tested it against focus groups k e is lT
hin the
Co g
! We pushed it out there—over and over again

! We hoped they’d buy, but weren’t sure they did

I'd like to
buy the
world a
Coke adds life Coke
2 © 2008 Mike Moran

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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)


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The times they are a-changin’

! TV, radio, and print are all lagging
the Web, especially with younger
consumers

! Moreover, the media shift is also a change
from passive reception to interaction

UK Web usage overtakes
TV viewing
Japan Has 59%
164 Web minutes per day vs. of All Mobile
148 TV minutes Web Users
Source: Google survey March 2006
Source: Univeristy of
Japan survey 2005

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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


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Isn’t Web Marketing simple?

! It’s dizzying

! And it keeps changing

! Faster and faster

! How do you cope?


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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


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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 marketing
rewards experiments
rather than deep
planning

! Are you feeling stuck?


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Attract


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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


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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


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Content-based social media marketing
Content sites
! Focuses on the content to
be posted and passed
around: blogs, videos,
photos, news stories,
podcasts

! Or bookmarks to the content
Bookmarking sites
! Feeds viral marketing


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Personality-based social media marketing

! Consumer companies
create character
profiles, but may not be
the best marketing for
IT companies

! IT consultants create
professional profiles


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Interest-based social media marketing

! Communities form around
topics of interest, such as
message boards and
specialty search engines

! IT marketers must get into these
conversations

! Maybe social bookmarking sites
fit into this category, too

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Fantasy-based social media marketing

! Virtual worlds, inhabited
by avatars, allow fantasy
lives that marketers wish
to be part of—Apple, IBM,
and other companies
already play

! Kids have their worlds,
too, but IT marketers can
safely ignore them


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Social media marketing can be planned

! Choose interesting
topics for your
stories—just like good
old public relations

! Use good titles and
descriptions—just like <title>
search marketing

! Make it easy to
bookmark, unless you
think that’s cheesy


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Except when it can’t be planned

Sometimes you just need to react to your good fortune

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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 it

It Takes a Village


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Listen


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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 they
don’t like you

! They produce mashups of your
content and functions

Web 1.0 users were consumers
Web 2.0 users are participants

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Putting customers in control

! Manufacturers are
beginning to allow
customers to rate their
products and provide
written reviews—right on
the manufacturer’s site
! Customers are going to
look for reviews before
buying anyway
! Why not keep those
customers on your site?

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Marketers must give up message control

! We don’t control the message

! The message is changed, rebutted, and
misconstrued by our
audience

! We must modify what
we say in response

! And, the message
crosses country borders


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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 longer
a monologue.
You must answer
your customers.


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What if you’re not real? Customers ignore you.

! Hype-laden prose is a holdover from print—it doesn’t
persuade Web customers

! Some companies have been caught creating flogs:

! Wal-Mart

! Sony


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What if you’re not relevant? Google ignores you.

Search marketing yields
the lowest cost per lead
(and the most qualified
leads)

So that’s where the
money is going
(and this chart
shows only paid
search fees)


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And if you’re unresponsive? Customers flame you.

! Accept comments and trackbacks on your blogs

! Allow your products to be rated and reviewed

! Staff your efforts with enough people to respond


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Watch


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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?

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How can you drive demand for your products?

Visitors 1000

Conversion Rate 1%

Conversions 10
Base

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Increase your
conversion rate

Visitors 1000 1000

Conversion Rate 1% 2%

Conversions 10 20
Base

!quot;#$%!&'()

Increase your
conversion rate Increase your
traffic

Visitors 1000 1000 2000

Conversion Rate 1% 2% 1%

Conversions 10 20 20
Base

!quot;#$%!&'()

Increase your
conversion rate Increase your
traffic

Or both

Visitors 1000 1000 2000 2000

Conversion Rate 1% 2% 1% 2%

Conversions 10 20 20 40
Base

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What are your conversions?

! Online sales ! Download a
white paper
! Find a store
! Fill out a
! Find a dealer contact form

! Find a partner

! Phone call

! Affiliate link


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What is your Web Conversion cycle? For your site?

Land
Online PC Consulting?
Land
Sales?
e Learn
at
Learn b or
lla
Use Co
Le
Shop
Engage
Get Select

Buy

Some sites lead to offline activity


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Use your cycle to measure conversion value
! Finding the right product
Land
page puts the visitor in the
“Learn” stage.

Learn
! How many customers that
Use
view a product page put
items in their carts?
Shop ! And how many check out?
Get
! Multiply by your average
Buy revenue and you have the
impact on revenue.
Increasing the success rate at any stage
increases the overall conversion rate

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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


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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?


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Should the shopping cart be on the left or right?

A/B testing decides


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Respond to your customers

! Change your products Learn
Use
! Change your content
Shop
! Change your prices
Get
! Change your policies Buy

! Change your experience
Which changes increase
! Then, change them again your conversions?

Customers vote with their mice

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Respond to the world

! When the public complains, change
! Math textbook publishers ignored criticism by
mathematicians and parents and had their books
removed from state curricula
! Pharmaceutical firms ignored safety concerns
and had their drugs later withdrawn by the FDA
! The public is now part of marketing—
environment, immigration, stockholders—
remember that you are doing everything in
public now
! It’s no longer just a problem for the public
relations and media contacts

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Do it wrong quickly and then fix it

! Instead of killing ourselves to plan
exactly the right thing that we can
execute in every country for the next
two years…

! …Do it wrong quickly, and then fix it

! Let the market tell you
what works and what doesn’t

! And then quickly do it better

Listen, learn, and adjust

!quot;#$%!&'()

Read all about it
! “Buy this book, read it, and then
read it again.”
!quot;#$ --Chris Sherman, Search Engine Watch

%#&'(quot;$ ! Updated at each printing
)&'*#+,-.$
/#%+$%#00#'

Available now
! “Great book.”
--Robert Scoble, Scoblizer blog

For more information about the ! “Act now and read
books, and for the free Biznology it.”
newsletter and blog: --Bryan Eisenberg, Author of #1 best
seller Waiting for Your Cat to Bark?
www.mikemoran.com

Web 2.0 Mike Moran

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