Modern Internet marketing in the context of online product management

Transcription

1 Modern Internet marketing in the context of online product management Georg Singer Linkedin: linkedin.com/in/gecko, Facebook: facebook.com/georg.singer Blog: the-innovative-entrepreneur.com 1/86

2 Agenda How advertising has not changed How buying has changed Inbound vs. outbound marketing Search engine marketing (SEO, SEA) Online PR Social media marketing Analytics The marketing mix Marketing strategy 2/86

3 How things were sold in the old days 3/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

4 1921 4/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

5 1930 5/86 Based on PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

6 1960 6/86 Based on PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

7 1983 7/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

8 Many marketers still do it that way 8/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

9 2011 From 9/86 PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

10 2011 Based 10/86 on PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

11 The process of selling has not changed 11/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

12 The process of buying has... 12/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

13 How people buy today 13/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

14 Realize a need 14/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

15 Investigate options 15/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

16 Ask our friends 16/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

17 Seek out experts 17/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

18 Leverage Q+A sites and formus 18/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

19 Dig into every detail available 19/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

20 Convert 20/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

21 Convention for this course Internet marketing Online marketing Digital marketing E-marketing Web marketing Are the same! 11/28/ /86

22 Why Internet marketing at all? 22/86

23 The Growth of B2C E-commerce 23/86 Copyright 2010 Pearson Education, Inc. SOURCES: emarketer, Inc., 2009a; U.S. Census Bureau, 2009b; authors estimates.

24 The Growth of B2B E-commerce Figure 1.5, Page 28 24/86 Copyright 2010 Pearson Education, Inc. SOURCES: emarketer, Inc., 2009a; U.S. Census Bureau, 2009b; authors estimates.

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26 Cost of acquisition TV 26/86

27 Internet advertising will overtake TV and Newspager 27/86

28 How powerful is Internet marketing - Examples 11/28/ /86

29 Blendtec Viral Campaign microsite Founded by Tom Dickson Sells Blenders and mixers (400$+), to make juices, salsas, soupes 117 Mio views on Youtube as of 15 June 2010 (since 2006) Has blended an iphone, ipad, golf balls, a video camera and much more. Also a brand channel on youtube Why is it so successful? 29/86

30 Example Kryptonite-User generated content viral is both ways Lose control over user generated content. Who has a Kryptonite lock? 30/86

31 The online market place map Bing 31/86 Pearson Education Limited 2009

32 Inbound vs. Outbound marketing 32/86

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34 What is outbound marketing? What is inbound marketing? 34/86

35 Inbound marketing is getting found by customers. Outbound marketing is buying, begging, or bugging your way in" (via paid advertisements, issuing press releases, commissioned sales people) 35/86 Wikipedia

36 (Inbound) (outbound) TV Newspaper and magazine ads Trade shows 36/86

37 Hubsport survey 644 marketing professionals, January 2009 Below average cost per lead 37/86

38 Six categories of e-communications Press release Distributors Social Networks Twitter 38/86 Copyright 2010 Pearson Education, Inc.

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40 Search 40/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

41 Search engine marketing SEM SEO PPC (SEA) 41/86

42 Types of search engine results pages in Google Google Adwords 90% traffic PPC Microsoft/Yahoo adcenter 10% traffic SEO 42/86

43 Remark on Search Engines Is the biggest blind user of the internet. Keywords are key Proper document structure (headers etc) Proper image descriptions Text is what counts Badly structured text is not understandable by the Google crawlers will not be indexed 11/28/ /86

44 The Page Rank Link analysis algorithm, Larry Page Numerical weighting to each element of a hyperlinked set of documents like WWW Relative importance of each element within the set important Numerical weight is called PageRank of E, PR(E) Page, L. et al., The PageRank Citation Ranking: Bringing Order to the Web. Available at: [Accessed April 5, 2011]. 44/86 Source

45 The Page Rank continued Mathematical PRs Out of 100 PR of 45/86

46 Search Engine Optimization(SEO) 46/86

47 Discover what people want 47/86

48 SEO Build the right content Make it accessible to search engines Earn links from high quality sources 48/86

49 Online PR 49/86

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52 The key areas of online PR E-PR activities o Inbound link-building o Content creation o Blogs o Feeds (RSS) o Press releases o Influencing media owners E-PR activities o Propagating big idea o Web editorial contacts o Viral agents o Seeding viral o Press releases o Influencing media owners 3. Building Campaign Buzz 1. Attracting visitors through search Online PR 2. Engagement & Dialogue 4. Defensive / Crisis E-PR activities o Surveys and polls o Audience research: o Social media inc user-generated content o Own blog o Influencing media owners E-PR activities o Brand protection o Monitoring and response: o Social media o Influencing media owners 52/86 Pearson Education Limited 2009

53 Blogs are booming 53/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

54 Blogs are on the rise 54/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

55 Blog often to drive results 55/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

56 56/86 Based on Rand Fishkin How to get found everywhere

57 Social media (viral) marketing 57/86

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59 Communication models (a) traditional media (b) new media 59/86 Copyright 2010 Pearson Education, Inc.

60 Social networks 60/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

61 Facebook 61/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

62 Twitter 62/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

63 Linkedin 63/86 From PRWeb Webinar Hosted By Rand Fishkin: ``How to Get Found Everywhere for Free

64 Video and multimedia portals 64/86 Based on Rand Fishkin How to get found everywhere

65 Youtube 65/86

66 Customer Analysis and consumer behavior 11/28/ /86

67 Conversion Funnel 0,54% conversion rate This is what you want to maximize while keeping product return rates low!! 67/86

68 Online Analytics 68/86

69 A summary of the performance measurement process 69/86 Pearson Education Limited 2009

70 Potential reasons for causing attrition on an e-commerce site 70/86 Pearson Education Limited 2009

71 Different measures of visitor volume to a website 71/86 Pearson Education Limited 2009

72 Opinion leadership blog example 72/86

73 Web analytics tool Google 73/86

74 Cloud-computing-Economics.com 74/86

75 Sources of visitors 75/86

76 Most visited pages 76/86

77 The marketing mix In 1963 Bartels said: a marketer is like a chef in a kitchen a mixer of ingredients Variables used to define key elements of marketing strategy From the 4Ps of Jerome McCarthy to the 7Ps of Booms and Bitner sometimes referred to as the services mix 4Ps Product, Price, Place (Distribution), Promotion 7Ps add People, Processes and Physical Evidence 8 th P online = PARTNERSHIPS 77/86 Pearson Education Limited 2009

78 Mixing the mix online Which variables are important for the ideal customer? Price and quality? Where they buy? So need to decide on target markets first and do the research on the mix variables Remember the mix is not generic for all customers, but for segments 78/86 Pearson Education Limited 2009

79 The elements of the marketing mix 79/86 Pearson Education Limited 2009

80 Porter s five forces a market place model to develop a digital strategy 80/86

81 Pearson Education Limited 2009 Porter s five forces Bargaining powers of customers Model that describes relative strength between customers, competitors and intermediaries Power of suppliers The business Threat of subsitutes Extent of rivalry between competitors 81/86 Threat of new entrants

82 Interview with Michael Porter 5 mins 28secs 11/28/ /86

83 Case study Chegg in Groups (5-6people, 45 mins) What is the service the founders started up with? What were the problems? What market niche did they discover? What players were in that market? What was the size of the market? What was their value proposition? Which had better margins, new or used books? What assumptions did they have to test? What initial problems did they face? What is their business model? How did they create initial demand to test the market? What green marketing technique did they apply? What outbound marketing techniques did he try? How did they work? What inbound marketing techniques did he try? How did they work? How did they set their pricing at the beginning? What was their most successful marketing tool? Why? How do they see product management? What did they do to improve conversion rates? Lower bounce rates? How did they fight competition coming from online booksellers? Who did they partner up with? What was their parters advantages? What did they get? Use Michael Porter s 5 Forces Model Assess the impact of the Internet on the book publishing sector looking at each of the 5 forces 83/86

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85 Readings and Resources Readings Great thanks to Rand Fishkin for his presentation How to get found everywhere David Chaffey ''Internet Marketing - Strategy, Implementation and Practice"", Fourth Edition, Pearson Education Ltd., David Meerman Scott ''The New Rules of Marketing and PR"", Second Edition, John Wiley & Sons, Inc., Tamar Weinberg ''The New Community Rules: Marketing on the Social Web"", O'Reilly, Michael Rappa, good resource about business models Eric Enge SEO Mastering Search Engine Optimization The Lean Startup Eric Ries 85/86

86 Q&A Georg Singer Linkedin: linkedin.com/in/gecko, Facebook: facebook.com/georg.singer Blog the-innovative-entrepreneur.com 86/86