online marketing plan - cook book
DESCRIPTION
I've shared my personal cook book for creating a successful online marketing plan. With this you can create your own marketing strategy and create a plan which will follow you throughout the implementation of that strategy.TRANSCRIPT
The Complete Cook Book
Build Your Online Marketing Plan
SimilarGroup © 2009-2014. All Rights Reserved
Why Are We Sharing Our Marketing Plan?
SimilarWeb prides itself for being a Digital Insight Platform for the
online marketing community.
As such, we strive to give not only traffic statistics for any
website, but also the required tools for navigating through the
confusing world of online marketing.
We find ourselves in an interesting place where we’re both
the providers and our own clients. That's one of the reasons we understand our users and their needs.
Why Are We Sharing Our Marketing Plan?
One such need is a "cookbook" for baking your online marketing
strategy.
As with most recipes, everybody likes something slightly different
so you should use the base and change the toppings to suit your
needs.
We've used real examples of what we went through to try and put
everything in context.
The Cook Book Principles
Stage 1 – The Basics:
• Measurement
• Discovering the unique uses of your product
• Finding the main target audiences
• Finding main target markets
• Building the conversion funnel
• Setting up the billing system
The Basics
1STAGE
Analytics is the heart of any online business. Without it you’re blind to any marketing action you take.
Most people use Google Analytics and there are more advanced tools like Adobe and Coremetrics (by
IBM). There has also been a new movement towards BI (Business Intelligence) as it enables you to
track the individual journeys of users onsite as opposed to Analytics which only provides aggregations.
In SimilarWeb we’ve tested several options, but ultimately recommend these two:• Piwik – open source site’s analytics• Google Analytics
* For event tracking - MixPanel is a platform that specializes in such solutions.
Main Tip: Use more than one system, so you always have a backup in case one fails!
Discovering The Unique Uses of Your Product
1STAGE
To find out who uses SimilarWeb PRO, we got in touch with our clients and interviewed them about
it. We also sent out an email asking our clients to rank the latest updates we’ve added to our
platform. The results helped us prioritize the following updates we’ve made.
Some of the main uses we came up with after asking our clients were:
• Affiliate managers looking for new affiliates
• Media buyers trying to determine where to spend their display ads budget
• SEO and PPC campaign managers looking for new keywords
• Product managers who are in the stages of industry research and competitive analysis
Main Tip: Don’t hesitate to ask your users what they like best about your product!
Finding The Main Target Audiences
1STAGE
• Talk with your existing clients and get to know them
• Guide your sales team to be attentive to characterizations and needs of clients and
potential clients
• Get your Product team to shadow you sales and client services team to gain a better
understanding of what goes on
At SimilarWeb we’ve identified several types of audiences who use, or can use, our platform.
However, we’ve chosen one audience to concentrate our initial efforts on – online marketing
professionals
Main Tip: Focus, Focus, Focus! The way to take over the world is with one target audience at a time!
Finding Main Target Markets
1STAGE
• Research your competitors – find their strong and weak points. You might decide to
go with markets you know are working well for them, but will probably prove very
competitive. Or you may take a chance with untouched markets, which you don’t know
for sure will work, but might hold less competition.
At SimilarWeb we used our own platform – SimilarWeb PRO, for researching our
competitors and finding markets we want to focus on. This helped us to single out the markets
with the biggest potential and least competition.
Main Tip: Starting with few markets gives you better allocation of resources and minimizes error costs!
Building The Conversion Funnel
1STAGE
When building a conversion funnel you need to consider which stages must be included:
On one hand, you want to give the user enough information about the product in order for
them to feel comfortable purchasing it. On the other hand, you don’t want to
overcomplicate the purchase funnel and cause a high desertion rate.
Main Tip: Using A/B testing here will help you come up with the most optimized
funnel!
Building The Conversion Funnel
1STAGE
Conversion rate expert – a consultancy company for building conversion funnels. If you’re not sure
about the direction to take here, contact experts to either consult you or give tailored solutions.
At SimilarWeb we’re constantly testing different conversion funnels, gathering statistics and
collecting users’ feedback. One example of a great result from these tests was moving from a 24
hours trial (which required a credit card), to a free demo on SimilarWeb PRO.
We got amazing feedback from our users and a significant improvement in our conversion
rate.
Main Tip: Register to the conversion rate expert newsletter. It provides a wealth of case studies for free!
Setting Up The Billing System
1STAGE
Choosing a billing management platform – it’s crucial to know which target markets you’re
aiming at. Each of the platforms out there specializes in specific countries and has issues with
others.
At SimilarWeb we started with one company that didn’t work well for our target markets and
caused us to lose some key transactions. We eventually moved to Recurly. The move was
painful and costly, but in the long run it was worth it.
Main Tip: Make sure your chosen billing system offers support to your target markets before starting to work with them!
The Cook Book Principles
Stage 2 – Actions Items:
• Identifying goals
• Choosing the main message
• Choosing the right KPIs
• Choosing marketing channels
• Timetable and resources allocation
Identify Goals
Create Awareness
Increase Traffic
Improve Conversion Flow
Increase Subscriptions
Increase Stickiness
2STAGE
Identifying goals can vary between different businesses.
However, there are some goals which you’ll
find in most.
Here are the basic goals for a business
in its first stages:
Choosing The Main Message
Our main marketing message is what we want people to think of first when considering our service or
product.
This message will guide us throughout our marketing strategy, especially in the first awareness stage.
The message doesn’t have to be set in stone – you can start with one and switch to another at a later
stage. At SimilarWeb we started with ‘Love Your Competitors!’ and later switched to:
Digital Insights for the Online Marketing Community
2STAGE
Main Tip: As you move forward with building your brand, your main message might change!
Choosing The Right KPIs
KPIs – Key performance indicators are your tool for checking your success or failure in
reaching your set goals. For example, KPIs for SEO might be – organic and direct traffic, ranks
in SERP, number of 404 errors. PPC KPIs might be CPC rate, CTR percentage, conversion rate.
At SimilarWeb we constantly check our KPIs to measure progress. We sometimes update
them according to our gathered BI.
2STAGE
Main Tip: Beware of vanity KPIs. If a KPI doesn't directly help you make a decision, you shouldn't be using it.
Choosing Marketing Channels
When you’re trying to decide the best way to allocate your quarterly marketing budget, your
decisions must be based on educated guesses. These guesses are based upon your own BI or
Competitive intelligence. We’ve already talked about personal BI, so we’ll focus here on
competitive BI.
There are many tools for online competitive intelligence. We’ve included a map here of the
main ones, plus their core functions and uses.
2STAGE
Potential Resources for Research
Similarweb.com• Competitors
Website
Traffic
Analytics
• Referring
Domains
• Referring
Keywords
• Industry
Analysis
• Top Websites
• Similar Sites
MajesticSEO
• Research
Incoming
Links
• Check
Majestic Trust
And Citation
flows
Google Tools
Keyword
Planner
• Google Trends
Analytics
Webmaster
Tools
SERP
• Search
Engine
Results
Page -
Organic And
Paid Results
Choosing Marketing Channels
After researching your own analytics and your competitors’ traffic statistics, you need to make
your decision. There are so many online marketing channels, with new ones appearing every
few months, it’s hard to keep track of all the options out there.
We’ve included a comprehensive map with the main online marketing channels and their
formats.
2STAGE
Choosing Marketing Channels
Content
Marketing• Blog Posts• Guest Blog Posts• E-books• Email Newsletters
• Slideshows• Podcasts• Standard Videos• Micro-videos (i.e., Vine)
• Social Media Posts
• Webinars• White Papers• Press Releases• Content Sharing Hubs
PPC/CPM
Accounts• Google AdWords
• Bing Ads
• Social Media –
FB, Twitter,
Reddit,
Stumbleupon,
LinkedIn, etc.
• Display Ads
Viral Marketing
• Approaching
Opinion Leaders
• Forums – Paid
And Free Listings
• Organic Social
Marketing (FB,
Twitter, G+,
LinkedIn, etc.)
Affiliates
• Hand Picking
Through:
• Search Engine
Results Page -
Organic And
Paid Results
• SimilarWeb PRO
- Referral Traffic
Section
• Affiliate
Management
Programs
Email Marketing
• Blog Newsletter
• Product Updates
• Special Offers
• Engagement
Follow Up Emails
Timetable and Resources Allocation
While choosing between different optional online marketing channels; you need to take into account the followings.
• Time cost/potential value - value should be defined according to collected BI stats
• Expenses/potential revenue – should be defined according to Competitors’ BI or personal previous experience
• Tech resources
• Goals priority
• Current status of brand/product visibility
*It’s important to frame each marketing channel within a specific time frame with goals and KPIs per channels
2STAGE
Main Tip: If none of your goals and KPIs fit a marketing channel, it’s the not right one for you!
Appreciate Your Time!
SimilarWeb is part of SimilarGroup,a global leader in finding and interpreting digital information.
Digital Insights for the Online Marketing Community
SimilarGroup © 2009-2014. All Rights Reserved