marketing 101 for berkeley tamid - october 2013
DESCRIPTION
A presentation on marketing 101 for the Berkeley chapter of TAMID.TRANSCRIPT
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MARKETING 101More than just facebook
TAMID Berkeley — 10.24.13 — @rosenthalFriday, October 25, 13
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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
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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
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Customers
Competition
Collaborator
Context
Company skills
THE 5 C’S
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SEGMENTATION + TARGET MARKET
What segments of need exist?
Defined by characteristics, behaviors, needs
Goal: clearly differentiate between segments, but homogenous within segment
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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)
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Our __________ is __________ among all __________ because _________ (product/brand) (single most (competitors)! ( important claim)
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Our __________ is __________ among all __________ because _________ (product/brand) (single most (competitors)! ( important claim)
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Our __________ is __________ among all __________ because _________ (product/brand) (single most (competitors)! ( important claim)
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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
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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?
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$$$$
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&
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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
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PUSH VS. PULL MARKETING
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PUSH VS. PULL MARKETING
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PUSH VS. PULL MARKETING
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MARKET RESEARCH TOOLS
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MARKET RESEARCH TOOLS
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MARKET RESEARCH TOOLS
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MARKET RESEARCH TOOLS
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DIGITAL MARKETING
Carefully control costs
Respond to interest
Learn quickly
Study up
Work remotely
Digital Native
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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
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HOW TO DESIGN A DIGITAL CAMPAIGN
1. Choose a goal
2. Select tools/messages
3. Allocate budget to tools
4. Measure results
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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
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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
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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
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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
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INBOUND
SEO (Search Engine Optimization)
Blog posts
Youtube
Contests
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MARKETING GOALS
Attract or retain customers
Increase Willingness to Pay (WTP)
Launch product
Improve brand
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QUESTIONS?
twitter: @rosenthal
Slides available online
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