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Key Issue Presentation for the Big Jump Conference 31st March 2011 - The Future of Marketing and Social Enterprise by Herb Kim. Herb Kim is a leading player in the digital revolution in the UK. In this presentation he reveals the journey his extraordinary event Thinking Digital took to become a serious platform for leaders in future and emerging technology and the marketing tricks he learned along the way.
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Some Thoughts on the Future of Marketing
March 2011The Big Jump
1Wednesday, 6 April 2011
@herbkim @ThinkingDigital
2Wednesday, 6 April 2011
3Wednesday, 6 April 2011
@herbkim @ThinkingDigital
4Wednesday, 6 April 2011
ADL Report
• Recommended that the digital technology and media cluster be named a priority business cluster
• Advised that we focus on “the facilitation of networking on a regional basis”
• Recommended that a dedicated organisation be formed with staff “who command confidence and credibility and who are themselves extremely well networked.”
5Wednesday, 6 April 2011
• Support the Growth of the Digital & Creative Industries of North East England
• 2002
• Not for Profit
• Software development
• Networks & collaboration
6Wednesday, 6 April 2011
• FP6; TSB wins
• 3 spinouts
• From 30 to 130 paying company members
• Successful audits
• Life is Good!... until
7Wednesday, 6 April 2011
8Wednesday, 6 April 2011
• Audits
• Outputs/Results
• Costs
• Economic Impact
• Industry support
• But.. private income v low
9Wednesday, 6 April 2011
The Big Society: 2006
• Our “Core Costs” funding is cut with little warning from £1.6m per year to £600k in 06/07
• Then from £600k to £0k in 07/08
• Future funding dependent on increasing cash income by 400% in a single year
10Wednesday, 6 April 2011
11Wednesday, 6 April 2011
12Wednesday, 6 April 2011
13Wednesday, 6 April 2011
Geordie TED
14Wednesday, 6 April 2011
15Wednesday, 6 April 2011
• Go BIG or Go HOME
• Bet the company
16Wednesday, 6 April 2011
17Wednesday, 6 April 2011
18Wednesday, 6 April 2011
19Wednesday, 6 April 2011
• Invested in Branding
• Great Sponsors - Microsoft, Cisco, BT
• New Website; First Blog
• Print; Online; Email
• Leaflet Drops
• Direct Sales
• Dozen Marketing Partners
20Wednesday, 6 April 2011
With this Huge Investment
• Thinking Digital was a great success from Day One
21Wednesday, 6 April 2011
Despite the Investment
• We were really struggling
22Wednesday, 6 April 2011
Good to GreatThe TED Conference
23Wednesday, 6 April 2011
SurvivalSaving Face
24Wednesday, 6 April 2011
2008 Negatives
• Got There in the End but..
• Didn’t Sellout
• Massive Resource Black Hole
• Financial Loss Double the Forecast
• BUT we survived
25Wednesday, 6 April 2011
Roll the Dice for 2009
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28Wednesday, 6 April 2011
29Wednesday, 6 April 2011
2009 Marketing
• Print Ads cancelled
• Online Ads cancelled
• Telesales cancelled
• 50% of marketing budget unspent
• Sellout 2 months early
30Wednesday, 6 April 2011
2009
• Attendance 70%+
• Ticket Revenue 89%+
• Overall Revenue 40%+
• Convert a big loss into a near breakeven
31Wednesday, 6 April 2011
2010
• Expanded conference by further 100 seats
• Soldout 4 months early
• £0.00 in media spend
• Most popular topic on Twitter for 2 days
32Wednesday, 6 April 2011
So How Did This Happen?
33Wednesday, 6 April 2011
2008 Negatives
• Got There in the End but..
• Didn’t Sellout
• Massive Resource Black Hole
• Financial Loss 2x Bigger than Forecast
34Wednesday, 6 April 2011
2008 Positives
• Stellar Feedback
• 78% Respond to Online Survey
• 50% Definitely Would Return
• 30% Probably Would Return
• 0% Would Not Return
• Dedication to Content & UX Noticed!
35Wednesday, 6 April 2011
• Invested in Branding
• Great Sponsors - Microsoft, Cisco, BT
• New Website; First Blog
• Print; Online; Email
• Leaflet Drops
• Direct Sales
• Dozen Marketing Partners
36Wednesday, 6 April 2011
• Almost 0 in social media
37Wednesday, 6 April 2011
2008 Social Media Luck
• Blogs
• Shareable Online Video
38Wednesday, 6 April 2011
2008 Luck
39Wednesday, 6 April 2011
2008 Luck
www.#nyurl.com/3rgn9n
40Wednesday, 6 April 2011
2008 Luck
41Wednesday, 6 April 2011
Thank You Twitter!
• 2008 Google top referring website
• 2009 Google still no 1
• 2008 Twitter accounted for 3.1% of all referrals
• 2009 Twitter accounted for 21.2% of all referrals
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43Wednesday, 6 April 2011
Social Media & the Future of Marketing
44Wednesday, 6 April 2011
“Theory” of Marketing
• Market Segmentation: Who is your customer? What is your target market?
• Needs Analysis: What do they want/need/desire?
• What is your product/service offering?
• How will/can you communicate your value? Advertising, PR, sales, promotion, etc.
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47Wednesday, 6 April 2011
“Theory” of Marketing - subverted
• How will/can you communicate your value? Advertising, PR, sales, promotion, etc.
• What is your product/service offering?
• Market Segmentation: Who is your customer? What is your target market?
• Needs Analysis: What do they want/need/desire?
48Wednesday, 6 April 2011
The US Pharma Industry
• York University, 2008
• £60bn in sales promotion & advertising
• £32bn on actual drug R&D
49Wednesday, 6 April 2011
The power of word of mouth
50Wednesday, 6 April 2011
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53Wednesday, 6 April 2011
Word of Mouth
• Free
• Highly credible & influential
• Bottom up instead of top down
54Wednesday, 6 April 2011
Social Tools: putting the power of word of mouth on
steroids
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57Wednesday, 6 April 2011
“Theory” of Marketing
• Market Segmentation: Who is your customer? What is your target market?
• Needs Analysis: What do they want/need/desire?
• What is your product/service offering?
• How will/can you communicate your value? Advertising, PR, sales, promotion, etc.
58Wednesday, 6 April 2011
Less PromotionBetter MarketingBetter Products
More TruthHappier People
59Wednesday, 6 April 2011
Social Enterprise & Social Media
• More for Less
• Increasingly time-rich but cash-poor
• More important than ever to understand and connect with funders, investors, customers, partners, etc.
60Wednesday, 6 April 2011
Wanna Discuss More?
www.thinkingdigital.co.uk
@ThinkingDigital
LinkedIn: search “Herb Kim”
61Wednesday, 6 April 2011