marketing opportunities in a down economy - gangplank brownbag series - mike corak of off madison...
DESCRIPTION
Presentation highlighting opportunities to cut costs and improve marketing return in a down economy. Here's where I crowd sourced my topic (choose your own presentation from the 3) gp.offmadisonave.netTRANSCRIPT
3/25/2009
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Off Madison Ave
March 25, 2009
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3/25/2009
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It takes more than just good ideas…
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Opportunity 1 – Review Budget Allocation
90% Traditional - 10%Online At Least 20% Online (growing)
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Opportunity 2 – Prioritize Expenditures
• Rank activities based on likely ROI
– Maximize exposure for most likely pay-offs first
• Search, email, relationship building
– Ask questions:
• Will this new “x” move the results needle further than smarter tactical execution?
• Is data available to prove demand?
• What can be done effectively in house?
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Opportunity 3 – Reduce Reliance on Paid Media
• Make your budget work as hard as possible for as long as possible
– Allocate budget to create assets that will last beyond the campaign
• SEO, landing pages, microsites, relationships
– Make sure the media you do purchase is highly targeted and converts
• Landing pages, rich media
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Opportunity 4 – Audience Understanding
• Relevant communication converts best
• Explore your client’s customer knowledge:
– Why have they converted in the past?
– What do they want? What are they saying?
– Behavior trends?
• Questions remain?
– Survey, mine databases
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Listen To The Target Audiences
Social communications findings are tremendously helpful, but what about search data?
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Opportunity 5 – True Marketing Integration
• Create consistent experiences across mediums:
– Is your client ready to nab interest created?
– Does offline creative and messaging match online?
– Do calls to action work efficiently together?
– Can assets be repurposed across mediums to save $?
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Opportunity 6 – Test Everything(including offline creative before production)
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Landing Page Testing
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Email Testing
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Opportunity 7 – Lifecycle Marketing
• Segment lists and communicate with current and potential customers based on:
– Past behavior
– Stated interests
– Desired communication methods (direct mail, email, mobile, etc)
– Loyalty level
• Added benefit – costs are often reduced and responses increase
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Opportunities 8 - x
• What are we missing? (added from audience participation)
– Agile Web development that allows for easy/swift site changes and testing
– Teach clients how to fish (especially with social)
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3/25/2009
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Predictions for Client Demand(when larger budgets return-within 2 yrs)
• Branding and design resurgence
– Holding budgets back now
• Blurring of disciplines
• The expected norm:
– Prioritization for ROI
– Multi-channel integration
– Testing
– Cross discipline strategy including direct communication
• More agency consulting, less agency “doing”
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Thanks for your time