SMBs Tactics to Compete in a Fragmented, Socially Engaged, Digital Media Environment

Lorren ElkinsGranite Broadcasting Corporation

May 20, 2015@lorren_elkins

HOW HAS THE LANDSCAPE CHANGED?

2

The Number of New Media Options Has Accelerated over the Past 20 Years

3

Digital

Electronic

Print

Tomorrow

And if you dive deeply into Social options:

Source: DrParcells.org, fredcavazza.com

4

Traditional Media Choices Have Grown

5

Sources: TV Data: Television & Cable Factbook, Cable Data: California Cable & Telecomm Association, Radio Data: FCC; MStreet; Inside Radio, 2015, Magazine Data: Statista, SRDS, Newspaper Data Extrapolated from Editor & Publisher, Statista

Over 6 Million Web Sites Accept Ads

6

HOW ARE CONSUMERS USING MEDIA TODAY?

7

People are Spending More Time with Digital

8

The Young Spend the Most Time with Digital

9

Local & Natl Ad Spend is Following User Behavior

10

HOW DO THEY DECIDE WHAT TO BUY?

11

Limited Options Before Digital

12

OutdoorRadio Direct Mail Newspaper Magazine

CouponsProduct Reviews

Purchase RewardsLoyalty Clubs

Product Comparisons

The Purchase Decision Process has Become Much More Complex over the Past Few Years

13

Today’s Process is Much more Complex

14

Source: SmartClick, David Rogers, Yale University Press, 2011, 2014 Nielsen, BHM &

Co, GE Capital, Forrester, McKinseyQuarterly.com

Bloggers

Website

Search Ads

Banner Ads

Social Fan Growth

Retargeted Ads

Social Advertising

Shopping Sites

Social Deal Sites

PR/News Sites

Email

Review Sites

Word of Mouth

Coupon Sites

Online Commerce

Community ForumsRatings/Review sites

Social Posts

Blogs

Promotions

VIP Programs DB Marketing

Mobile Coupons

Social Posts

Then Now

Enter Mobile…

15

Now

Moments Just Prior to Purchase are Critical when a Smartphone is Present

16

Source: Harvard business Review, 6/11/13, The Mobile Shopping Life Cycle and Pivotal Labs, Nielsen/xAd/Telemetrics, Pivotal Labs, IBM, Local Search Association

Buying Decision Influencers

17

WHAT SHOULD YOU BE DOING?

18

Mobile Optimized Site?

19

Yes Mobile Site No Desktop Site on Mobile

Socially Engaged?

20

Entenmann’s Is United Airlines Wasn’t

#unitedbreaksguitars

Valuable Site Content?

21

Midland Insurance Yes River Pools Yes

Search Marketing

22

The Buffalo Academy Gets Found They Want Response

Claimed Listings?

23

Responsive to Comments?

24

Zillow Is Sea Star Restaurant Is

Valuable Promotion?

25

HairDazzle uses Twitter Fresh Brothers Pizza on Facebook

Learn from the Experience of Others

26

Source: Advertising Research Foundation, Digital Social Media Purchase Process

The Most Frequently Used Sources(Shaded to Correspond with Funnel Stages)

SMBs Will Spend More on Digital

27

Source: Thrive Analytics-Local Pulse Survey, 2015

Advertise When it Makes Sense

28

While Advertising Works, its Value Generally Declines as Purchase Nears

Study your Market

• Who are your customers and competitors?• How do customers find you?• Why do they buy from you?• What content do you need?• What digital tactics should you use?• What do you want people to do when they find you online?• Are there special offers you can make to drive visits?

29

Execute Wisely

• Who will manage your online efforts?• How much will you spend?• What specific goals do you want to achieve?• What advertising is warranted?

– Search, display, social, mobile, video

• What web presence will you have?– Website, mobile site, social site, listings?

• What aspects of your online identity will you manage?– Reputation, search, social, customer loyalty, promotions?

• What criteria will you use to measure success?

30

If You Think This is Hard, You’re Not Alone

31

Source: Thrive Analytics-Local Pulse Survey 2014

SMB Challenges with Digital Media

Some Weaknesses are Easily Rectified

32

Source: 2013 Vsplash Audit of 3.9 million SMB websites

Weaknesses in SMB Digital Efforts

Summary

• With vast choice and rapid change, digital marketing can be complex

• Social networks, blogs, ratings and reviews sites, search sites, mapping systems, geo-located smartphones, and internet-only retailers provide consumers with vast stores of information that has, in turn, enabled them to better make their decisions.

• Most small and medium sized businesses are not equipped to effectively play in this new digital environment.

• There are services that can do this with you and/or for you.

33

THANK-YOU

@lorren_elkins

34