Marketing 101 for Berkeley TAMID - October 2013

MARKETING 101More than just facebook

TAMID Berkeley — 10.24.13 — @rosenthalFriday, October 25, 13

Friday, October 25, 13



OCTOBER 24, 2013

My background

What is marketing?

Why is marketing important?

What are the tools of marketing?

How do you know if you’re doing it right?

What works in digital marketing?

I’ll share slides after









{elite}Friday, October 25, 13

{elite}Friday, October 25, 13





Customers Who are our customers?

Competition Who competes with us in meeting those needs?

Collaborator Who should we enlist to help us and how do we motivate them?

Context What cultural, technological, and legal factors limit what is possible?

Company skills What special competence do we possess to meet those needs?

THE 5 C’S


Customers

Competition

Collaborator

Context

Company skills

THE 5 C’S


SEGMENTATION + TARGET MARKET

What segments of need exist?

Defined by characteristics, behaviors, needs

Goal: clearly differentiate between segments, but homogenous within segment


VALUE PROPOSITION

Who are the customers?

What are the needs that the product fills?

Why is the product the best option to satisfy those needs?

Our __________ is __________ among all __________ because _________ (product/brand) (single most (competitors)! ( important claim)








WHAT IS A PRODUCT?

Product(features(

Create(benefits(

Sa2sfy(consumer(needs(

Enabled(by((technology(

Problems(or(joys(

Product(Management/(Marke1ng(

Market(research(

Product(Development(/(Engineering(

Culture(&(nature(

Product(features(

Create(benefits(

Sa2sfy(consumer(needs(

A product exists to deliver benefits to a consumer Marketers have a role


FOUR P’S

Product: What are you selling?

Price: For how much? [Not based on cost]

Place: What’s your channel?

Promotion: Who are you talking with? How? With what effect? How loudly? What are you saying?



$$$$

Advertising

Broadcast Media •  TV/Radio •  Print

Direct Response •  Mail/phone •  email

Promotion Trade Promotions

•  Volume Discounts •  Slotting Allowances

Consumer Promos •  Coupons •  Rebates

Interactive Media •  Web •  User-generated • Social Above&the&line&

Below&the&line&


Broadcast)–))One.way)messaging)

Addressable)/))customized)

)))))))))))))Radio))))))))))))))Newspaper)

))))))))))))))))))Magazines)

))))))))Television)Mass)

Two.ways)with)Time)Lag)in))response)

Two.way)Instantaneous)In)response)

DIRECT)

Direct)

Catalogs)

Infomercial)

Email)

Web)

TelemarkeIng)

Communica)on*interface*

Commun

ica)

on*

custom

iza)

on*

TRADEOFFS IN TOOLS


PUSH VS. PULL MARKETING







MARKET RESEARCH TOOLS








DIGITAL MARKETING

Carefully control costs

Respond to interest

Learn quickly

Study up

Work remotely

Digital Native


Digital Marketing Disrupts Traditional Marketing

Then Now

Market Research Focus groups conducted a few times per year with limited set

of customers

Continuous feedback from a large number of customers

online

New Product Development New products created by R&D with limited customer feedback

Customers contribute new ideas to company regularly

Customer Interactions One-way interactions from the company, two-way dialogue only

occurred in-store

Customers talk back to brands, customers talk to customers

about brands

Brand Positioning Created with agency and top-down communication to

consumers through print, TV

Created by the most engaged and loyal of customers, or the

most angry of customers

Targeting TV, print ads created for the mass market, some minimal

targeting

Microsegments, implicit personalization, explicit

personalization

Content Creation Campaigns created with agency and launched for longer time

period

Campaigns evolve, users generate them, missteps are

parodied, successes are lauded


HOW TO DESIGN A DIGITAL CAMPAIGN

1. Choose a goal

2. Select tools/messages

3. Allocate budget to tools

4. Measure results


1. CHOOSE A GOAL

Drive customers to do one big thing that can be measured online

Register at a website

Join a social medium

Answer a survey

Transact


HOW TO CHOOSE A GOAL?

Acquisition Retention

Loyalty loop

To choose a goal, understand first how the campaign relates to the broader marketing mission.

Conversion


2. SELECT TOOLS/MESSAGES

Firm

Consumer

Outbound communication

Inbound communication

Firm finds consumer Consumer finds firm

Display on publisher sites

Organic search on

search engines

What’s a publisher? Any traffic attractor.

Google, Facebook, Yahoo, a thousand

other branded sites, plus ad networks and ad

exchanges.

What’s a search engine? Google, Bing, Yahoo (powered by Bing,) Baidu, Ask, AOL

(powered by Google.)

Paid search on search engines

Publishers Search Engines


OUTBOUND

19

Outbound Marketing

Goals Awareness Brand building

Leads, Conversions, Transactions

Pricing CPM CPC

Metrics GRP, Awareness Brand Scores

CTR, CPC, CPA

Budget A/S, SOV, GRP Target CPA Target

Issues No direct link to sales Pre-click: Attribution Post-click: CLV

Unique Aspects

Image, Emotions Narrative Accountable

Television Google AdWords Facebook Ads

Branding, Leads, Conversions

CPM or CPC

CPA Target

Brand Goals

Attribution, CLV, Brand-sales link

Interest-targeting Social Connections

CTR, CPC, CPA Brand Scores

How Outbound Digital Media Compare to Television


INBOUND

SEO (Search Engine Optimization)

Blog posts

Youtube

Contests


MARKETING GOALS

Attract or retain customers

Increase Willingness to Pay (WTP)

Launch product

Improve brand



QUESTIONS?

twitter: @rosenthal

[email protected]

Slides available online


mailto:[email protected]

mailto:[email protected]

Business

Marketing 101 for Berkeley TAMID - October 2013