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Roadmap for Success in 2010: !Interactive Strategy for Energy Marketers

August 2010

Steve Latham!@stevelatham

[email protected]

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Takeaways from MITO 2009 1.  Online is a Must 2.  Start with a Foundation

-  Research, business case, strategy, metrics 3.  Build on top of it

-  Site usability -  Branding -  Communications -  Interaction (engagement) -  Integration

4.  Business Case for Social Media 5.  Pitfalls of Social Media (and how to avoid them) 6.  Best (and Worst) Practices

View Online at http://bit.ly/MITO2009

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New Challenges for 2010

① Shift in focus: responding vs. brand-building ② Budgets are (still) tight ③  Information Overload (how to sift and prioritize?) ④ Work overload (too busy to plan?) ⑤ Measuring ROI

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What We’ll Cover Today

① Creating Demand for Your Brand

② How to think about paid, earned and owned media

③ Measuring results and calculating ROI ④ Best (and Worst) Practices

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Creating Demand for Your Brand

You can’t win by harvesting demand… You must create it.

To win customers, they must know:   Who you are   How you are uniquely positioned   Why they should choose you

Success requires passage through the conversion funnel

Awareness Interest

(Consideration / Preference) Decision

$$$

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Creating Demand for Your Brand

Demand is best created by utilizing…

Paid Media Owned Media

Earned Media

Rules of thumb:   Display and 3rd party email are best for creating awareness   Search works best for capitalizing on awareness   Social media does both, but reach may be a challenge

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The Solution (?)

There is no silver bullet

Success requires an integrated approach

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How Most View Online Media Mix*

Leads

Prospects

Sales

Social Networks, Blogs, Photos, Videos

Search Paid + Natural

E-Mail House & 3rd Party email

Display Rich, Flash,

Video, .Gif Ads

$$$

Mobile SMS, Sites, Apps, Ads

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How We Should View Online Media

Awareness

Interest (Consideration /

Preference)

Decision

$$$

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Display CPM/CPC/CPA

E-Mail CPM/CPA Social

???

Search CPC

Roles of Online Media

Stage Search Display Email Social Awareness Broad terms Targeted ads 3rd party

sends Follow

Interest Narrow terms Targeted ads Direct sends Like, Mention

Decision Branded terms

Retargeted ads

Targeted offers

Recs, Reviews

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Measuring Results

  Direct KPIs   Attributable results

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Direct KPIs

Basic Metrics   Impressions   Clicks   Visits   Page views

Engagement metrics   Pages viewed per visit   Time on site   Goal Pages   Registrations   Transactions

Social Media Metrics   Follows / Fans   Likes / Comments   Mentions   Viewing content   Sharing / Posting

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 Decision cycles are not linear   Users often make multiple before taking action   Most “conversions” take place after multiple touches, e.g.:

•  5-7 impressions precede a visit •  2-3 visits precede an action

 Credit usually attributed to last click   Design limitation of analytics platforms   Rewards Search   Punishes Display, Email and Social

 The Goal:   Understand which touch points precede each action   Assign value to those touch points (“Attribution Analysis”)

Attributing Credit: The New Imperative

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Sample Engagement Path

Display Vendor #1

Impression

Day: 0 30 15

Display Vendor #2

Impression

E-Mail 3rd party

Impression

Display Vendor #3

Impression

Paid Search

Category term

Visit

Organic Search

Brand / Geo

Visit

Direct Nav

Visit / Action

What we can measure via ad server and site analytics:

The “direct” lead was preceded by numerous ads - Without this insight, you may kill a smart media buy

The next BIG thing: incorporating Social engagement - Coming soon!

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Attributing Credit: Paid Media

Step 1 - Recast Actions* by Source (*actions = visit, conversion etc.)   Quantify the number of touches that preceded each action   Assign value to each touch point (e.g. 7 impressions = 1 click)   Recast the number of touches and assign credit proportionally   See a more accurate picture of Display’s impact on results

Lift: 300+%

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Attributing Credit: Paid Media (cont.)

Step 2 – Based on Recast Actions, calculate revised Cost Per Action for each Source

Drop: 70%+

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4. Translate Results Into Value

To measure ROI, you first have to calculate the value

Determine how Actions Intent (offline purchase)

Forecast how Intent $$$   Some % of those who show Intent will buy   Do the math and apply across each set of actions   Use common sense to normalize results

Action Value Site Visits Indicates awareness Goal Page Views Indicates consideration Long Visits Indicates consideration Conversions Indicates preference

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AWARENESS(Visits)

CONSIDERATION(Long Visits, Goal

page views)

PREFERENCE(Register)

Calculating ROI

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Worst & Best Practices in Energy Marketing

Worst Practices Best Practices One-off efforts Strategic Plan Hunting Fishing Shouting Listening and Interacting Limited Reach Building Networks Engaging like a marketer Becoming part of community Silo approach Integrated program Last-click analysis Attribution analysis Unrealistic Expectations Under-promise, Over-deliver Empire building Outsource to experts

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Thank You!

View this presentation online at http://bit.ly/MITO2010

Let’s stay in touch!   Facebook.com/slatham   Twitter @spurinteractive   LinkedIn.com/in/stevelatham

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About the Presenter

Steve Latham is the founder and CEO of Spur Interactive, a strategic interactive marketing agency. In this role, Steve has planned and managed successful campaigns for leading brands, including ConocoPhillips, FedEx Kinko's, Continental Airlines and The Scooter Store, to name a few.

Steve is an accomplished industry lecturer and an active member of the business and non-profit community. Steve’s articles on interactive strategies have been published by MediaPost, iMedia Connection and Marketing News. He has been quoted in PR Week, Fortune and CNN.com.

Steve received an MBA from Harvard Business School and a BBA from the University of Oklahoma.