Ramaciotti digital media marketing 2012 Lesson 3
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Transcript of Ramaciotti digital media marketing 2012 Lesson 3
Lesson 3Define the goals
2012 Max Ramaciotti Creative Commons — Attribuzione - Condividi allo stesso modo 3.0
HomeworkYOUR
BENCHMARK
Goal
SMART Goals
SpecificMeasurableAchievableRealisticTime Sensitive
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Strategic planning, 3 steps
Situation
Target
Path 3 step process to Strategic Planning
map a possible route to the goals/objectives
evaluate the current situation and how it came
about.
define goals and/or objectives (sometimes
called ideal state)
http://en.wikipedia.org/wiki/Strategic_planning#Methodologies
See
Think
Draw Strategic PlanSee Think Draw
map a route to achieving the
goals/objectives
what is today's situation?
define goals/objectives
Strategic plan See-Think-DrawFocus on evolving the present
Draw
See Think
Plan
Strategic plan Draw-See-Think
what resources are required to execute the activities?
what is the ideal image or the desired end state?
what is today's situation? What is the gap from ideal and why?
what specific actions must be taken to close the gap between today's situation
and the ideal state?
Strategic plan Draw-See-ThinkFocus on designing the future
Strategic Plan - Process
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."
."."
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Vision
Define the vision and set a mission statement with hierarchy of goals and
objectives
SWOT
Analysis conducted according to the desired goals
Formulate
Formulate actions and processes to be taken to attain these goals
Implement
Implementation of the agreed upon processes
Control
Monitor and get feedback from implemented processes to fully control the
operation
Discover
Design
Implement
Measure
But ….What about the ENVIRONMENT
the circumstances, objects, or conditions by which one is surrounded
From: http://www.merriam-webster.com/dictionary/environment
Why study the environment?
MeasurableAchievableRealistic
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Royal Pingdom Royal Pingdom- Almost 8 new Internet users added w
4 Infographics About Online Trends, Internet Usage and Social Me
Internet Usage Predictions [infographic] | Daily Infographic
The History Of Internet Usage And Speeds (Infographic) | TechCru
Environment: Online Social
Zeitgeist is a German expression meaning "the spirit of the age".
Google Zeitgeist 2011
Come faccio a utilizzare Google Statistiche di ricerca? - Guida di Statistiche di ricerca
Google Zeitgeist 2011
trendwatching.com's 12 Consumer Trends for 2012
Environment: Ecommerce Conversion Rates Statistics
http://www.marketing-online.co.uk/wiki/Ecommerce_Conversion_Rates_Statistics
Overall site session (visit) conversion rate
Visitor conversion
Shopping basket conversion rate
Session search conversion rate
as reported in the Coremetrics example
ratecalculated by dividing the number of conversion events by the number of unique visitors within a defined time period.
percentage who add item to basket who convert, e.g.
(percentage of visits which include a search (notice that conversion rate and average order value (AOV) tends to be higher for these visitors
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When benchmarking conversion rate, site owners should go beyond headline conversion rates to compare these four key types of conversion rate:
Situation: Ecommerce Conversion 2
IBM 2011 Coremetrics Holiday Benchmark Reports
Luxury Institute research revealed that, of the customers who shop for high-end merchandise online, 78 percent of them did so in order to find the best price while nearly as many, 77 percent, did so to compare brands (BrandWeek, January 2010).http://www.bazaarvoice.com/resources/stats#Conversion
Customer Stories campaign drove 13,000 new prospects for La-Z-Boy. (La-Z-Boy, 2009)
http://www.bazaarvoice.com/resources/case-studies/improve-all-marketing/374-stories-lzb
Situation: Social commerce
Wealthy people tap social networking sites, comment on blogs Sophisticated Investor - MarketWatch
SANTA MONICA, Calif. (MarketWatch) -- Facebook, MySpace, and YouTube aren't just destinations for tweens -- wealthy people frequent these sites, too.
24% of wealthy Internet users -- almost one in four -- are joining teens and twenty-somethings on social networking or "social media" sites such as Facebook and MySpace. Of this group, 69% maintain a profile on at least one site.
More than half of the wealthy Internet users surveyed, or 52%, read blog postings -- and they're commenting on them, too, according to HNW's Wealth and New Media study. In fact, 20% of respondents say they've commented on a blog and almost one-in-five of these do so daily or weekly
More than one-third of Web surfers aged 44 to 54 said they visit a social networking site, and 19% of those 55 and older said they do. The highest percentage is among those aged 18 to 44, of whom 50% said they visit such sites.
Yet 72% of wealthy Web surfers aged 45 to 54 said they read blogs, compared with 69% of those aged 18 to 44 who said they do.
According to the 2007 Pew Internet & American Life Project Survey, 95% of those with an annual income of $100,000 or more use the Internet. In fact, not only are high-net-worth consumers online, their mastery of new media goes well beyond email.
For example, about half of wealthy people aged 45 to 64 use instant messaging, and 21% of those 65 and above IM. The biggest segment, 70%, of IM use is by those 18 to 44, but the numbers show that people across the board are more tech savvy than previously imagined.
By comparison, 50% of teenagers ages 13 to 18 use instant messaging services, according to an Associated Press-AOL poll.
AttractionVisitor acquisition cost – 0.74 % change in NPVVisitor growth – 3.09 % change in NPV
ConversionCustomer conversion rate – 0.84 % change in NPVRevenue per customer – 2.32 % change in NPV
RetentionCost of repeat customer – 0.69 % change in NPVRevenue per repeat customer – 5.78 % change in NPVRepeat customer churn rate – 6.65 % change in NPVRepeat customer conversion rate – 9.49 % change in NPV
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Agrawal et al. (2001) have performed a further analysis where they modeled the theoretical change in net present value contributed by an e-commerce site in response to a 10% change in these performance drivers:
This modeling highlights the importance of on-site marketing communications and the quality of
service delivery in converting browsers to buyers and buyers into repeat buyers.
http://www.marketing-insights.co.uk/wnim0502.htm
Customer value
Target: Consum - Author
Consum-Authors Future Concept Lab, February 2010
Posh Tweens (8-12 years): Expo Teens (12-20 Years): Linker People (20-35 years): Unique Sons (20-35 years): Sense Girl (25-40 years): Mind Builders (25-50 years):
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www.c4e.es/docs/FCLconsumauthors.pps
http://www.futureconceptlab.com/FCLconsumauthors
http://www.mckinsey.com/practices/marketing/ourknowledge/pdf/Solutions_AllVisitorsAreNotCreatedEqual_consumer.pdf
Target: Online Consumers
ONLINE GOALS
Target market strategies the evaluation and selection of appropriate segments and the development of appropriate offers.
Positioning and differentiation strategies.
Define online customer value proposition (OVP).
Resourcing - Internet marketing priorities
Internet will primarily complement the company’s other channels or primarily replace other channels
CRM focus and financial control the balance on investment on customer acquisition and retention
Attraction
Conversion
Retention
Market and product development strategies
Market penetrationsell more existing products into existing markets
Market development sell into new market
Product developmentdigital products or services
can be developed that can be delivered by the Internet.
Diversificationnew products are developed which are sold into new markets
Organisational restructuring required.
how should internal structures be changed to deliver e-marketing
how should the structure of links with other organisations be changed to achieve e-marketing objectives
Channel structure modifications.
Disintermediation (sell-direct)
Create new online intermediary (countermediation)
Partner with new online or existing intermediaries
Do-nothing!
Company goal
Company Target
http://www.marketing-insights.co.uk/wnim0502.htm
Objective Sell
Objective Serve
Objective Speak
Objective Save
Objective Sizzle
Define objectives for selling to the customer online
Define objectives for serving the customer online
Define objectives for speaking to the customer online
Define objectives for saving online
Define objectives for enhancing the brand online
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5 key goals of Online Marketing
http://www.davechaffey.com/E-marketing/c1-introduction-to-e-marketing
Improve Number of Leads -
Improve the Quality of Online Leads -
Improve the Overall Online Experience -
Improve the Engagement Rate -
Move Prospects Through the Buying Process/Funnel -
Increase the Number of Qualified Visitors to your sites -
Reduce Cost of Leads -
Increase Online Inquiries -
Promote Offline Sales -
Deliver Customer Service and Value to Your Target Market(s) -
bottom line is lead generation and improving ROI.
better leads can mean quicker and potentially more sales.
keep your users' needs first and foremost to help build lifetime value and relationship. Improving the online experience will help improve repeat visits and help generate top of mind awareness.
engaging the user with proper use of conversion triggers and calls to action can help increase the number of leads that are generated.
A key goal for B2B marketers should be to help solve the needs of their prospects by providing them with all of the information they need to make a purchase decision as they work through the buying funnel.
increasing the number of qualified visitors to your site means a greater chance for obtaining more qualified leads.
an effective online strategy can help reduce the cost of each lead that is generated.
one of the more important conversions that B2B marketers should focus on is to increase online inquiries that have the potential to become qualified leads. Depending on the phase of the buying funnel the user is at, you can use your online marketing strategy to intercept the prospect and increase the number of email requests or phone calls for additional information inqueries that the user may have.
use online to drive offline business. The majority of actual B2B transactions will take place offline.
rounding out the top 10 online marketing goals for B2B marketers is delivering value to your site visitors. No explanation is needed as providing customer interception points and delivering effective customer service online can provide positive results offline.
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Top 10 Online Marketing Goals for B2B Marketers
http://www.marketing-jive.com/2007/06/online-marketing-goals-top-10-online.html
Internet Statshttp://royal.pingdom.com/2010/01/22/internet-2009-in-numbers/
Collectionshttp://www.rba.co.uk/sources/stats.htm
http://www.internetworldstats.com/stats.htm
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Other Resources
Luxury Online marketing Short
http://www.slideshare.net/IC_Agency/the-essentials-of-luxury-digital-marketing
luxuryfuturesgerdleonhardlondonmarch172009public-090317115310-phpapp02
http://www.slideshare.net/gleonhard/luxury-futures-the-future-of-the-luxury-market-gerd-leonhard-luxury-interactive-london-march-17-2009
Gerd Leonhard - Luxury Futurehttp://www.mediafuturist.com/
http://www.thewritemarket.com/marketing/index.php?marketing=business-plan&title=How%20to%20Write%20a%20Marketing%20Plan
Tutorial - Marketing Plan
Define which goals are the one of you companyFor each one write a little description scoping the goalFor each one define how you will measure the success
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Homework - Lesson 3