Social Media: The Rising Star for Your Digital Marketing Strategy

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<p>Slide 1</p> <p>Social Media: The Rising Star for Your Digital Marketing Strategy Mike TomitaDirector, Online MarketingMarketo</p> <p>1</p> <p>AgendaThe Digital Marketing MixAd OptionsTargetingMeasurementKeys to Success</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>It's finally happened, social media has grown up and sold out. And it's awesome. For digital marketers, the maturing advertising options on social networks have created a huge opportunity to reach and engage audiences in a way that has never been possible. Tune into this webinar to learn how social media fits into your digital marketing strategy, what advertising options are available, how to reach your target audience, how to measure your results, and what you'll need to be successful. 2</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>3</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>4</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>First banner ad - October 27, 1994About the same time as the launch of Netscape Navigator</p> <p>5</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>First banner ad - October 27, 1994Where did this mountain come from?With the internet came an explosion of ad types and formatsThen along comes the smartphone and the hill gets even steeperWe are really at the beginning of the opening up of social networks to paid advertisement6</p> <p>2012</p> <p>201120132014201520162010</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>We do need to keep in mind that advertising on these platforms is still a relatively new additionIts only been about 6 years since Twitter first launched a paid advertising optionAnd really, its only in the past few years that B2B marketers have had any real lead generation options availableThere are other social networks, like Line (Asia) but these are the top US based networks7</p> <p>Who is your audience?</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>The top marketing channels they all expected to engage with their customers - #1 is social mediaSo what does that mean for all the digital marketing leaders out there?Ask for more budget and resources!Start evaluating your social media strategy</p> <p>8</p> <p>Digital Advertising Market Share</p> <p>8.6%10.7%12%</p> <p>35%33%</p> <p>31%</p> <p>201420152016 (projected)source: WSJ.com</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>In Q1 of 2016 Facebooks ad revenue was reported at $5.2 billionIn 2016 Facebook is project to claim about 12% of the global digital-advertising marketup from 10.7% last year and 8.6% in 2014In 2016 Googles share is projected to decline to 31% Down from 33% in 2015 and 35% two years ago.Source: http://www.wsj.com/articles/facebook-revenue-soars-on-ad-growth-1461787856</p> <p>9</p> <p>Find Your Audience</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Find out where your target audience spends their time and where they go to find what they needOnce you identify where they are you can decide what ads will work best to reach themMost channels CAN work for any of your goals, but youll probably find that some work better for acquisition than nurturing for exampleThe only way to know for certain is to test them out.10</p> <p>The Social Game is Pay-to-Play</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Invest in promoting your social media content if you want to be seenThere are some exceptions, like search but it doesnt compare11</p> <p>Promoted ImpressionsOrganic Impressions</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Twitter Organic vs Promoted reach12</p> <p>Promoted ImpressionsOrganic Impressions</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Facebook Organic vs Promoted reach13</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Keep in mind how your audience is using each channelAre they looking at photos on Instagram? Better have a highly visual ad.Are they on Twitter and therefore probably on a mobile devices? Make sure your post click experience is optimized for mobile.14</p> <p>Lead Generation Ads</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>LinkedIn coming soon15</p> <p>Link Ads</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Video Ads</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Snapchat</p> <p>GeofilterLensVideo</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Types:FiltersLensesVideo + content18</p> <p>The Rise of SnapchatSnapchatters watch over 10 billion videos per dayBloomberg As of April, 2016</p> <p>On any given day, Snapchat reaches 41% of all 18 to 34 year-olds in theUnited States.Nielsen Media Impact, Reach Duplication, Nielsen Total Media Fusion/GfK MRI Survey of The American Consumer 9/1/2015 9/30/2015 (Television, Internet, and Mobile)</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>SnapChat views were 10 Billion per day. http://www.bloomberg.com/news/articles/2016-04-28/snapchat-user-content-fuels-jump-to-10-billion-daily-video-views19</p> <p>82%90%58%</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Dont forget about mobile traffic!Mobile usage on social media channelsLinkedIn: http://www.medianama.com/2016/08/223-linkedin-india-37-million-users/Facebook: http://thenextweb.com/facebook/2016/01/27/90-of-facebooks-daily-and-monthly-active-users-access-it-via-mobile/Facebook mobile only: http://venturebeat.com/2016/01/27/over-half-of-facebook-users-access-the-service-only-on-mobile/Twitter: http://venturebeat.com/2016/07/26/twitter-reports-3-million-new-users-602-million-in-revenue-1-year-after-dorseys-return/20</p> <p>82%90%58%56%Mobile ONLY</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Dont forget about mobile traffic!Mobile usage on social media channelsLinkedIn: http://www.medianama.com/2016/08/223-linkedin-india-37-million-users/Facebook: http://thenextweb.com/facebook/2016/01/27/90-of-facebooks-daily-and-monthly-active-users-access-it-via-mobile/Facebook mobile only: http://venturebeat.com/2016/01/27/over-half-of-facebook-users-access-the-service-only-on-mobile/Twitter: http://venturebeat.com/2016/07/26/twitter-reports-3-million-new-users-602-million-in-revenue-1-year-after-dorseys-return/21</p> <p>What are your objectives for each channel?</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>All Channels are not created equal22</p> <p>Establish Your Advertising GoalsBrandingAcquisitionNurturingRetention/AdoptionUpsell/Cross-Sell</p> <p>Check All That Apply</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>What are you trying to achieve?These will vary by audience and may vary by channel as well</p> <p>23</p> <p>Establish Your Advertising GoalsBrandingAcquisitionNurturingRetention/AdoptionUpsell/Cross-Sell</p> <p>Check All That Apply </p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>What are you trying to achieve?These will vary by audience and may vary by channel as well</p> <p>24</p> <p>Identify Your Audience PersonasBackground Pain PointsSources of InformationChannel AffinityPreferred Content Medium</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Set your initial baseline so you can measure the performance of different campaigns over time.</p> <p>25</p> <p>Define Your Cross-Channel Strategy</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Targeting OptionsLocationLanguageAgeGenderConnectionsBasic TargetingDemographicsInterestsBehaviorsJob DetailsTravel PreferencesMobile Usage3rd Party Data</p> <p>Advanced TargetingRetargetingWebsite Visit FrequencyTime Since Website VisitWebsite Pages VisitedPurchasesKnown Data </p> <p>Now that you know your audience and have a good idea of where they are in their buyer journey how do you find the Buyer on Social. There are many ways to target the audience on social these days. You can target people based on common targeting options, advanced targeting options and even retargeting options. </p> <p>Target people based on scores and buyer stage27</p> <p>Audience segments are created using 1st party data based attributes &amp; behaviorUnknown users sharing common attributes are identified using 3rd party dataYour digital ads are targeted to this new audience that mirrors your best buyer profile</p> <p>Look-a-Like Audiences</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Look-a-like audiencesFind your best performing leads or highest value customers and find more people like them28</p> <p>What Works for UsInterestsMarketing, Competitors, FirmographicsCompany, Job Role, Website RetargetingDays since last visit, non-converters, Database ListsRevenue Stage, Unopened email, </p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>of marketers use single attribution</p> <p>of marketers attribute across multiple programs and people</p> <p>do not use any type of attribution trackingThe Lenskold Group / eMedia Lead Generation Marketing ROI study45%21%20%</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>These metrics are from a report that is a few years old, but my guess is that the current breakdown is pretty similar. Please dont be one of the 20% who doesnt track your programs.</p> <p>30</p> <p>Single-Touch</p> <p>Paid Search Ad Clicks through, does not convert and takes no further actionSocial Media Ad Clicks through, browses the website but takes no further actionEmailClicks through, and takes actionMakes a purchase or is becomes a sales qualified opportunityWebinar RegistrationRegisters for, but does not attend, a webinar</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Lets look at this customers journeyDoes a search and clicks through a paid search ad. Does a little research, but ultimately doesnt take any actionA little later they get back to thinking about that purchase and remember your ad. They go directly to your website, but arent quite ready yet but sign up for your email updates.You are, of course, remarketing to this visitor and they see one of your ads on social media. Again click through but no action.Lastly they respond to one of your emails and either make a purchase or complete a lead generation form.31</p> <p>Single-Touch</p> <p>Paid Search Ad Clicks through, does not convert and takes no further actionMakes a purchase or is becomes a sales qualified opportunity</p> <p>$10,000$10,000</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>In a single-touch model all of the revenue or pipeline credit would be given to 1 of the many touchpoints.In this case, its the first marketing touch, the email.In a first touch model this could be either the paid search ad (because of the click) or the Newsletter sign-up (because of the action).32</p> <p>Multi-Touch</p> <p>Paid Search Ad Clicks through, does not convert and takes no further actionSocial Media Ad Clicks through, browses the website but takes no further actionEmailClicks through, and takes actionMakes a purchase or is becomes a sales qualified opportunityWebinar RegistrationRegisters for, but does not attend, a webinar</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Now lets take a look at a multi-touch attribution example33</p> <p>Multi-Touch</p> <p>Paid Search Ad Clicks through, does not convert and takes no further actionWebinar RegistrationRegisters for, but does not attend, a webinarSocial Media Ad Clicks through, browses the website but takes no further actionMakes a purchase or is becomes a sales qualified opportunity</p> <p>$10,000$3,333</p> <p>$3,333$3,333Email PromotionClicks through, and takes action$0</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Now lets take a look at a multi-touch attribution exampleUsing this method we would distribute the credit for the sale or opportunity among all of the touchpoints along the wayThis example distributes the credit evenly but you can weight these as wellThis method takes into account the full journey and not just 1 touchpoint along the way34</p> <p>Early Stage Metrics</p> <p>So lets look at some of the top of the funnel programs to see where we are generating new names or targets from. This is a screenshot from our own revenue cycle analytics.</p> <p>From this report, you can see that you are receiving the most new names from your PPC campaign for branded terms, targeted at prospects in the United States. But which campaign is bringing in the leads most cost effectively? At $0 per lead, your blog is bringing in the most cost-effective leads, while your tradeshows are the most expensive. This may be because blogs consist of content that your internal team creates, while tradeshows involve extra costs for things like sponsorship, booth design, collateral printing, and shipping.</p> <p>But this is not a complete picture 35</p> <p>Late Stage Metrics</p> <p>You dont want to optimize your programs based on the number of names they bring in. You need to look at later stage metrics such as the number of opportunities, pipeline and revenue won as well as a return on marketing investment. So if we look at the same programs, well see that our tradeshows generated solid pipeline (T1 pipe of $1M and almost half of that revenue has been won; )</p> <p>You also need to consider time to opp as it takes longer for some channels to convert leads to opportunities comparatively speaking36</p> <p>Quantity vs Quality</p> <p>Paid SearchSocial MediaPaid SearchSocial MediaLeadsOpportunities+58%+198%</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>This is an example from our own marketing mix here at MarketoIn this data we can see that our social media campaigns brought in 58% more leads that our paid search campaignsHowever the quality of those paid search leads is considerably better and they produced 198% more sales opportunitiesThe medium should be kept in context though. In paid search people are actively looking for a product or serviceIn social media theyre attention is caught by an ad while they scrolling through posts on every subject under the sun37</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>A great real world representation of the noisy social/digital landscapeLeft shark is making a 1:1 connection38</p> <p>Key Questions to Address </p> <p>Which ad channels are working? Which campaigns are working within a channel?</p> <p>How should I allocate budgets between channels?</p> <p>How are my channels performing vs others?</p> <p>Page #Marketo Proprietary and Confidential | Marketo, Inc. 11/30/2016</p> <p>Hi everyone, I manage all the digital programs at Marketo and I look at metrics all the...</p>