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Seven Strategies to Surviving the Downturn
A Compendium to 11.21.08
Fuel for Thought Serieswww.SigmaGroup.com
Geoff Ramsey’s Digital Marketing Now: Seven Strategies to Geoff Ramsey’s Digital Marketing Now: Seven Strategies to Surviving the Downturn is available as download at: Surviving the Downturn is available as download at:
http://www.emarketer.com/7strategies.aspxhttp://www.emarketer.com/7strategies.aspx
It’s ugly out there…It’s ugly out there…
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53%53% of U.S. marketers expect of U.S. marketers expect reducedreduced ad ad budgetbudget over the next 6 over the next 6
months months (ANA)(ANA)
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31%31% say they’ve say they’ve alreadyalready cutcut back back (Oct ‘08 (Oct ‘08 MarketingProfss)MarketingProfss)
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85% will 85% will cutcut their traditional their traditional mediamedia budgetbudget in 2009 in 2009 (MarketingProfs)(MarketingProfs)
Signs of growth Signs of growth in…in…
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projected to grow by 8.9% in 2009(eMarkete
r)
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U.S. online ad spending
Over 70% of global marketing executives
today believe online will determine how major campaigns are
planned and executed (ANA Survey)
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Why Why onlineonline will weather the will weather the downturn downturn betterbetter than other than other
advertising advertising optionsoptions??
Greater measurability, accountability and less expensive than traditional channels
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More granular targeting and access to consumers at all stages of the buying cycle
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The Internet is interactive, allowing higher The Internet is interactive, allowing higher degrees of engagement with consumers degrees of engagement with consumers
Paying close attention to online conversations Paying close attention to online conversations gives marketers insights into consumer behavior, gives marketers insights into consumer behavior,
desires, feelings, problem issues, etc.desires, feelings, problem issues, etc.
What are those 7 strategies?What are those 7 strategies?
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Get with the Accountability Program
Strategy11
Now is the time to step up efforts to quantify and measure the value of marketing programsGeoff Ramsey, eMarketer
“
”
Source: http://www.emarketer.com/7strategies.aspxImage: http://www.flickr.com/photos/ebolasmallpox/
Measure online branding efforts – Intergrating with search to get a more complete assessment
Break down silos – search/display ads, online/offline media and
channels
Build a sales impact model to better assess how online messages convert shoppers into buyers, both online and in stores
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Keep Doing Search
Strategy
It’s a necessity for marketers in a depressed
economy as consumers welcome search ads,
rather than view them as interruption or disruption.
Geoff Ramsey, eMarketer
“
”
Source: http://www.emarketer.com/7strategies.aspx
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Search provides a highly measurable ROI
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Search garners click-throught
rates that exceed all other forms of
online advertising
Search offers the potential for immediate online sales as well as for offline sales at a
later timeImage: http://www.flickr.com/photos/28481088@N00/2096361609/ Source: http://www.emarketer.com/7strategies.aspx
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33Anti-SearchStrategy
Don’t ignore the power of branding online… brand advertising creates the
intent, and search helps you resolve the purchase.
Geoff Ramsey, eMarketer
“
”Image: http://www.flickr.com/photos/bip/ Source: http://www.emarketer.com/7strategies.aspx
Atlas found a 22% lift in conversion rate when display Atlas found a 22% lift in conversion rate when display ads were combined with searchads were combined with search
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For retailers with an online and offline channel, 68% of the impact of display ads was found in the offline sales
channelImage: http://www.flickr.com/photos/paperpariah/sets/72157604555040504/ Source: http://www.emarketer.com/7strategies.aspx
My expectation is we’ll see a lot more shopping around, a lot more research
[because of the recession], so there is an opportunity there to reach people where
they are doing their research online…Brand advertising and display advertising create the intent, and search helps you
resolve the purchase. Hal Varian, chief economist, Google,
TravelThink Conference, October 8, 2008
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“
”
In the increasingly advertising-filled online environment, you know that
you’re often exposed to more than one message from a marketer before you buy. You see a display ad one day, a
video ad the next day, and maybe the day after that you search for the
product and purchase. If the search ad is the only one getting the credit for the conversion, the marketer isn’t
getting the full story. Esco Strong, analyst, Atlas Institute,“Where Can You Find Your
Customer?,” Microsoft, 2007Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
“
”
The Web is the best platform for getting consumers from awareness to transactionthe world has ever seen, yet few advertisers leverage the Web as a transaction platform.David Koretz, MediaPost’s Online Publishing Insider, October 16, 2008
“
”Image: http://www.flickr.com/photos/28481088@N00/ Source: http://www.emarketer.com/7strategies.aspx
Measure and integrate metricsMeasure and integrate metrics
Use display/branding ads to drive online shoppingUse display/branding ads to drive online shopping
Focus on value messagesFocus on value messages
Consider good old-fashioned site sponsorships – they Consider good old-fashioned site sponsorships – they can be effective and efficient if placed on the right can be effective and efficient if placed on the right content sites and precisely targeted to reach your content sites and precisely targeted to reach your
prospects.prospects.
to
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Stay Close to CustomersStay Close to Customers
Strategy
When times are tough, marketers should make
every attempt to stay close to their core
customers. With nearly 70% of all adults online,
the Internet has reached the threshold of
becoming a mass medium .
Geoff Ramsey, eMarketer
“
”Source: http://www.emarketer.com/7strategies.aspx
Source: http://www.emarketer.com/7strategies.aspx
Two things to consider…
EmailStill a great medium for
staying in touch. Keep email campaigns targeted and
personalized as a means to staying close to
customers.
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Social MediaWhere consumer
conversations are taking place – on blogs, consumer review sites, social portal sites and
real-time conversational applications
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Use blogs, social media and tools to
Look, Listen, Lounge and
Learn
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Notice what words and language consumers use and how they interact, influence and pass along information.
Listen how consumers talk about your product/service category.
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Observe if there are real or perceived problems relating to your product or customer service.
Unleash the wisdom of the consumer by incorporating it into your initiative.
Best practices for using Social Media…
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Join in the conversation. But
make sure you pick the right
community and that you are adding real
value
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Keep brand fans happy. Focus on
your brand enthusiasts
and let them “share the
love” with others
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Tap into coveted
influentials
Engender TrustEngender Trust
StrategyStrategy
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Trust is the currency of brands, and it has
never been harder to create or hold on to.
Geoff Ramsey, eMarketer”
“
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How do you engender trust
with consumers?
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Realize consumers
trust each other more
than they trust you.
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Don’t go dark on them – continue to market
and advertise.
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Make your product
and customer service as good as can be.
Emphasize listening
over loud speaking.
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Transparency = Trust
Adapt messages
to be more real – less
marketing talk
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Engage Prospects and Engage Prospects and Customers via VideoCustomers via Video
StrategyStrategy
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Source: http://www.emarketer.com/7strategies.aspx
Average consumer recall of an un-skippable ad online is 50%, versus 18% for a similar ad on broadcast television. Magid Associates, 2008 ”
“
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In 2008, 80% of Internet users viewed online video (equates to 154 million)
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Projected to Projected to increase to 167.5 increase to 167.5 million Americans million Americans in 2009, in 2009, representing 87% representing 87% of Internet users.of Internet users.
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Two basic strategies for engaging with
online video…
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Place video footage of your products on your Web site to provide a more visual experience (i.e., demo)
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Place video “ads” on video content sites, such as YouTube, Hulu, or better yet, smaller niche sites addressing your target customer.
StrategyStrategy77Image: http://www.flickr.com/photos/philmclean/81540329/ Source: http://www.emarketer.com/7strategies.aspx
: Test : Test Test Test TestTest
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It’s tough out there, but now is really a terrific time to experiment.
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Not on wacky, unproven tactics… but on practical, data-supported success
strategies that marketers are already deploying today.
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Source: http://www.emarketer.com/7strategies.aspx
There is simply no excuse today not to be experimenting
constantly, relentlessly with digital media and applications.
Marketers can read all the research in the world, but if they don’t try a tactic themselves… they will never know if it can work for their brand.
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The opportunities are limited The opportunities are limited only by creativity and only by creativity and imagination.imagination.
– – Geoff RamseyGeoff Ramsey
Want more info?Contact:[email protected] Visit:http://www.sigmagroup.com