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Digital Marketing
An introduction toDigital Marketing, some key terms and concepts around strategy and a guide to developing a digital marketingplan.
What’s inside Introduction
A strategy indicates the most advantageous direction for an organisation to take over a defined period of time. It also outlines which tactics and means should be used to execute this direction. Originating as a military term, strategy is about using your strengths, as well as the context in which you are operating, to your advantage.
In marketing, strategy starts with understanding what the business wants to achieve, or what problem it wants to solve. It then considers the context in which the business and its competitors operates, and outlines key ways in which the business and brand can gain advantage and add value.
What will you learn:
1. How to define digital strategy?
2. The key building block concepts thatare essential to any strategy
3. The questions that need to be askedwhen assembling a digital marketingstrategy
•The characteristic of commerce in agricultural age was low scale and low speed
•Total cost = Variable cost (Zero fixed cost)
•There was ample land available thus fixed cost was basically zero
•Any one who had land, had an advantage
•Object of commerce was to maximize land usage and labour usage
•This age is characterized by high scale and high speed
•Total cost = fixed cost (There is no variable cost)
•One needs scale and one needs speed in this age
•Why do we say there are no variable cost ? Look the following example.
If a company wants to make say a computer software, the cost of making the first copy of the software is say $500million. But once the software is made, the cost of replicating the software is Zero. Thus there are only fixed costs and no variable cost. The cost of doing something once is enormous, the cost of replicating it is very low, which is why companies can afford give software for free…since the object of digital age is to maximize cash flow and not profit
•The object of commerce here is to maximize cash flows
•The characteristic of this era was high scale but low speed
• Total cost =Fixed cost + Variable Cost
• Having scale was an advantage
•The object of commerce was to maximize profit
Understand The Marketing Age
Agricultural Age
Traditional media is time-bound and location-bound
Digital media is time-agnostic and location-agnostic
Digital media is :Anytime / Anywhere / Anyhow media
Industrial Age
Digital Age
The Characteristics of Digital Marketing
•The fundamental shift which we never realised till social media was that marketers always focused on the buyer rather than the user.
•In the social media environment, the user is more important than or equally important to the buyer. Especially in industries like restaurants, airline and banking.
•The time gap between knowing what consumers want versus what they do and say has collapsed. All marketing laws were organised around location or time.
•Today, people are becoming time and location agnostic. They now work at home and shop at work.
A consumer who has both TV and the internet may watch TV for 2 hours a day and use the internet for 1 hour a day.
The difference: TV is being watched but the internet is used. Hence the consumer’s level(s) and quality of engagement
will be completely different.
THE APPROACH : TCEO ModelUnderstand the difference in Branding (Traditional vs Digital)
THINK
is the starting point in our approach. It is
tasked with developing strategic plans for the digital
world. Like traditional communications
planning, it includes topics such as
consumer insights, research, concept
development, budget allocation and channel
planning.
CREATE
brings concepts to life by executing
campaigns and shaping platforms.
It covers all aspects of creating web assets, from web design and
development to conceptual
copywriting, the creation of social
media assets, mobile development,
engineering business systems and social media integration.
ENGAGE
is responsible for driving traffic and
building relationships.Media buying and planning, search
engine optimisation, email marketing, social media and
campaign management are some of the key activities here.
OPTIMISE
is about continuous improvement. It
delivers insight and lessons through
analytics, data mining, conversion
optimisation and testing. Optimise is
relevant at each stage of the process.
THINKwe research, plan and strategise for brands and campaigns.
CREATEwe build beautiful, highly functional assets and content for those brands and campaigns
ENGAGEwe use the power of the connected web to drive traffic to those assets and leverage the availabe channels to build strong customer relationships
OPTIMISEwe relentlessly use data and analysis to improve all our marketing efforts
Traditional Marketing
INTERACTIVE
PASSIVE
NETWORK EFFECT
(many-to-many)
MASS COMMUNICATION
(one-to-many)
Digital Marketing
OPTIMISE
THINK
CREATEENGAGE
AirAsia Flight Attendant Dancing to Toxic Britney Spears
(Have You Seen?)
Crafting a digital marketing strategy
The Focus
Your Marketing Channel & AgenciesYou
See
Think
Do
Care You & Them
Content / Engagement
Startegy
Marketing
Startegy
Measurement
Startegy
Objective need to be SMART
SPECIFICthe objective must be clear and detailed, rather tahn vague and general.
MEASURABLEthe objective must be measurable so that you can gauge wheather you are attaining the desired outcome.
ATTAINABLEthe objective must be something that is possible for your brand to achieve, based on available resources.
REALISTICthe objective must also be sensible and based on data and trends; don’t exaggerate or overesti-mate what can be achieved.
TIME-BOUNDfinally, the objective must be linked to a specific timeframe.
Here is an example
SMART OBJECTIVE•Increase sales through the eCommerce platform by 10% within the next six months.
TACTICS• Search advertising• Facebook brandpage
KPIs PER TACTICS•Search advertising - number of search referrals, cost per click on the ads•Facebook brand page - number of comments and shares on campaign-specific posts
TARGETS PER TACTIS•Search advertising - 1000 search referrals after the first time month, with a 10% month-on-month increase after that•Facebook brand page - 50 comments and 10 shares on campaign-specific posts per week
Context
1 2 3 4
Objectives Tactics & Evaluation
Value Exchange