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My presentation made to the AGM of the Jamaica Credit Union League in May 2011 as a 3-hour workshop.
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Interactive Marketing
Strategies for Financial Services
CompaniesDavid Mullings
Opportunities
•email marketing
•banner advertising
•SEM and SEO
•social media
•blogging
•crowdsourcing
•Online video/Podcasts
•Location-based services
•Mobile
•SMS/Text Message
•QR Codes
•Augmented reality
Why Interactive?
•“Audience on demand” - digital will allow marketers to buy an audience instead of space in media
•Create relationships for a new era
•Get invited to the consumer conversation - social
Web 1.0 Strategy“Pull” Strategy
users website ads
Web 2.0 Strategy“Push” Strategy
users content
users
users
Tim Armstrong, President, Advertising and Commerce, North America, Google
“Interrupting people is not as important as being with them”
4 P’s of marketing?
productplaceprice
promotion
5 P’s of marketing?
productplaceprice
promotionpeople
6 P’s of marketing
productplaceprice
promotionpeople
=profit
Overview
Email Marketing
Want to know?
•How many people received?
•How many people opened?
•What did they click on?
•Did they share it?
Now You Can
Subscriber History
Banner Advertising
Targeting Options?•Geo-targeting - Targeting ads based on geographic location
•Target ads based on language
•Target ads based on time of day
•Behavioural targeting gaining traction
Search Engine Marketing (SEM)
SEM
•Uses keywords chosen by you
•Highest bid not automatically highest placed ad
•Geo-targeting down to city level for many countries
•Language, Time of day, etc.
Search Engine Optimization (SEO)
Online video
Categories
•Informational
•Entertainment
•Promotional
•Advertisements in and around video (pre-roll, mid-roll, post-roll, overlays, etc.)
Podcasts
Blogging
Promotion and Conversation
Crowdsourcing
Super Cool Stuff
QR Codes
QR Codes
Augmented Reality
Social Media
Social Advertising - Does it work?
•Focus on creating a conversation with consumers - value exchange is key
•Couponing and custom products
What is Social?
•Facebook, Twitter, etc.
•Taking advantage of sharing
Facebook Page
Facebook Ads
Photos
Twitter Terms Crash Course
Tweet
Mention
Retweet
Hashtag
Location-based Services
FourSquare, etc.
Real Campaigns
Levi’s and Air Jordan
•2,323 sets only
•US$395 per set
•Press release
•Facebook countdown widget
•Sold out in 30 mins
Cezar•Mariah Carey Fan Club Remix competition
•Original song and video
•The RealVibez Approach
•Results?
Results?•45,000 views in 2 weeks
•Placed 20th out of 1,200 entries
•Secured direct link to Nick Cannon (He likes the remix)
•Video picked up by RE TV locally
•Song picked up by Zip, Fame, Hot 102
•Cezar contacted numerous times for interviews
•Lots of blog and forum exposure
Purpose
•Only one part of the marketing mix
•“Prove that you are listening...”
•“Awareness is over-rated. Focus on building positive opinion”
•“Influencing Opinion is key”
Balancing Innovation, Results
& Predictability
•Digital age has challenges - the tyranny of ‘more’
•Marketing is the only public function
Balancing Innovation, Results
& Predictability•Get customers to see and use you
differently
•Ready, Fire, Aim - experience is better than planning
•80/20 rule
Balancing Innovation, Results
& Predictability•Avoid the short-term trap
•Marketplace results matter most
•ROI total vs. Individual totals
•What is new vs. Last year
•Sometimes you just go for it
Michael Linton, SVP & CMO, eBay
“You may not need to be everywhere if it does not fit your business model”
Social Advertising - Does it work?
•Not ‘social media marketing’, ‘social influence marketing’ - Terry, Avenue A|Razorfish
•Creating a community around a brand
Sam Chadha’s Rules
Director of Marketing, Deodorants, Unilever
The distribution strategy is just as important as the creative strategy
Viral is an outcome, not something you build
Forget about ‘cool’, ‘relevance’ is what matters
Create engaging, relevant and quality content for users in your target
demographic
Social Advertising - Does it work?
•“If you are still measuring just CTR, get a new agency”
•Engagement matters and social applications and networks offer that in spades
Questions?
Most Relevant
email marketing
banner advertising
ppc (pay-per-click)
mobile
location-based services
social media
Most Relevant
•JNBS AGM 2009 and live-streaming
•US State Dept Global Diaspora Forum
Do’s and Don’ts
Have a social media policy
Do
Have a social media policy and not communicate it to
all staff
Don’t
Be professional and true to your brand image
Do
Misuse profile pictures
Don’t
Ask questions and interact - conversation is key
Do
Only focus on one-way posts instead of conversation
Don’t
Define and measure engagement
Do
Only measure followers and fans
Don’t
Use ROPE model
Do
R.O.P.E.
•Represent your organization well
•Own the channels and have accountability
•Participate in conversations
•Engage users and measure engagement
Assume that the youngest person in the company is the right one to manage
digital channels
Don’t
Start a blog
Do
Start a blog and then not update it
Don’t
Identify which channels make sense for your budget, target market and team size
Do
Try to do too much too fast
Don’t
Identify power users and evangelists
Do
Ignore the complainers
Don’t
Have a modern website
Do
Have a modern website but not monitor traffic to make
decisions
Don’t
Retweet industry sources
Do
Only retweet industry sources and post no unique
content
Don’t
Questions?
Post-click Marketing
Focusing on what happens after you get a user to click
a link or ad
5 features of good landing
experiences•Clear call to action
•Limited choices
•Minimal distractions
•Motivation & incentives
•Progressive conversion (more than 1 page)
Building Blocks
•User-centred - user experience first
•Relevant
•Conversion focused
•Segmented - optimize experience
•Tested and Optimized - A/B, Multivariate
•Analyzed
Questions?
Final Thought"Whether it's over the air or on the Internet, it's about content, and online it's our strategy to reach people wherever they are and bring our content to them."
Leslie Moonves, President and CEO, CBS Corp.
Recommended Reading
Please leave feedback on facebook.com/davidpmullings
David [email protected]
linkedin.com/davidmullings407-513-2801
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