Archive for the ‘Digital Marketing’ Category
Social media marketing seems very much to be the domain of consumer companies, but increasingly b2b organizations are being encouraged to get in on the act.
An interesting article written by one of B2B International’s clients, GlobalSpec, and recently published in Quirk’s, offers some handy tips to B2B companies taking their first steps in social media marketing:
1. How often and for what purpose does your target audience participate in social media?
By looking at how often and why your target audience participates in social media, it will help you to decide the sort of content – and the frequency – that you should be aiming for.
2. Which social media platforms do they prefer?
With a huge choice of social media channels to choose from, and more springing up every day, you must consider which would best capture the attention of your target audience.
3. What are your organization’s goals in implementing a social media initiative?
Depending on whether you’re seeking awareness, demand, engagement or actual sales, will influence your chosen social media strategy. Social media is particularly good at playing a supporting role in brand recognition and visibility in your target markets; building relationships with your audience; and establishing your company as a thought leader in your industry.
4. What resources (i.e., people, time, budget, etc.) do you have available to invest in social media without taking away from other online marketing efforts?
Social media can be budget-friendly, but don’t forget that time and resources are still required to create fresh content and analyze the results of your efforts. It’s important to remember that social media should merely complement rather than replace any existing successful online marketing programs.
5. How will you integrate social media into your overall marketing strategy?
With limited resources, key to maximizing your social media efforts is integrating it into what you are already doing, for example reposting your regular blog posts on Facebook, or Tweeting about a webinar you may be hosting.
6. How will you define success and measure ROI on your social media investments?
You already measure the effectiveness and ROI of all of your marketing initiatives. Social media is useful in building awareness, engagement and thought leadership. To achieve those goals, consider driving traffic to your Web site by offering downloadable content (e.g., white papers, research, infographics, etc.).
7. How will you promote your social media efforts in other initiatives?
To drive traffic to your social media platforms, you will want to incorporate them into your other marketing initiatives: Include links to your social media channels on your Web site, blog, business cards and in your collateral. Add them to your e-mail signatures.
Read the article in full here
Yet more indication that the internet is the future for much of our marketing spend: in the first quarter of 2010, internet advertising revenues in the United States reached $5.9 billion, a 7.5% year-on-year increase.
The new figures, from the Interactive Advertising Bureau and PricewaterhouseCoopers, show the highest ever first-quarter revenue levels for the online media industry, indicating that interactive advertising campaigns continue to prove their value and effectiveness – or at the very least their measurability.
These figures seem to tie in with recent Bellwether Report statistics, showing that UK digital budgets were revised upwards in the first quarter of 2010 for the third quarter in succession, with digital the fastest growing of all advertising mediums.
Meanwhile, eMarketer has revised upward to 10.8% (from 5.5% in December) its forecast for US internet advertising spend this year compared with 2009. It predicts that internet ad spending will total $25.1 billion in 2010, after declining 3.4% last year. In more specific terms, search spending is expected to increase 15.7%, banner ad spending 8.2%, and video spending a massive 48.1%.
A new report, published this week by Outsell, predicts that spending on digital advertising and marketing will this year, for the first time ever, overtake print advertising and marketing spend.
According to the ‘Marketing and Ad Spending Study 2010: Total US and B2B Advertising’, which is based on an online survey of more than 1,000 U.S. marketers, $111.5 billion will be spent on print (which includes both direct mail and newspaper/magazine advertising), and a whopping $119.6 billion on digital strategies. Overall advertising and marketing spend in the United States is expected to increase by 1.2% this year to $368 billion.
Meanwhile, total business-to-business advertising/marketing spend will grow 0.75% to reach $129 billion. It is expected that most of this growth will be in the ‘interactive’ area, which is predicted to see a rise of 9.2% to $51.5 billion.
Everybody knows that 2009 was a tough year, with marketing budgets in particular feeling the strain. Yet things are looking more promising for 2010 already – and on both sides of the Atlantic!
A survey conducted at the end of 2010 in the United States showed good news for marketers after a year in which 60% of b-to-b marketers slashed their budgets. BtoB’s “2010 Outlook: Marketing Priorities and Plans” report, based on an online survey of 376 B2B marketers, found that although almost half plan to maintain their existing budgets, nearly 40% will increase spending in 2010. Just 13% will be reducing their marketing spend this year.
As with last year, online marketing – including website development, e-mail marketing, search, social media, online video and webcasts – looks set to see the biggest boosts. This medium is widely acknowledged as being both cost-effective and measurable. Spending on innovative direct marketing and customer events both look set to rise also. More about this report can be found here.
Meanwhile, in the UK, the latest IPA/BDO Bellwether report indicates that optimism and confidence are growing. In spite of the report showing a ninth consecutive quarter of declining marketing spend, the rate of decline is clearly slowing. Spend is down only 7% compared to 15% in the previous quarter.
Indeed, marketing budgets for 2010 have been set higher than those in 2009 and, with 35% of businesses surveyed seeing improved prospects, companies are the most optimistic they have been for the past five years.
As with the trends seen in the US, online advertising budgets were revised upwards for the second quarter running while direct marketing budgets have also increased (by 2.2%) for the first time since 2007.
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Caroline Harrison this week takes a look at a current promotional campaign which gives us all another reason to be glad today is Friday.
It’s one of the top challenges for marketers: how do we drive more traffic to our website? There are many different search engine optimisation and search engine marketing tactics we can employ to help us in our quest, but we shouldn’t necessarily forget some of the good old fashioned basics: aside from creating an informative and user-friendly website, we can try to make the site – or a feature/section within it – different and unique, make it engaging or interactive, offer website-only deals and special promotions…basically give people a reason to visit in the first place and to return.
Of course, increased traffic to your website doesn’t automatically translate into increased sales. There is, however, clearly some correlation. More visitors give you more chances to showcase your services and, with it, more opportunities to turn those visitors into brand advocates and loyal customers.
I read in the marketing press recently (further note to marketers: don’t forget to generate a PR buzz around a quirky website feature or promotion) about a ‘freebie’ being offered by Cadbury at its Crunchie chocolate bar website, www.getthatfridayfeeling.com. (Why is it that my Thursday Night Insights always seem to be about Cadbury’s chocolate??) In its latest digital campaign for this brand, Cadbury is, for a limited time, giving away a free Crunchie to the first 500 visitors to register on the site each Friday.
Now, for those international readers of this blog who aren’t so familiar with a Crunchie, the brand has been associated with a ‘Friday Feeling’ advertising concept, encapsulated by the well-known strapline ‘Thank Crunchie, it’s Friday!’, since the mid 1980s.
I remember when Cadbury first introduced this strapline. Somehow it just struck a chord – certainly with my peers in the school playground, many of whom, in retrospect, would have been avid guzzlers of this chocolate bar and among Cadbury’s prime target markets.
Even today, many years on from the start of the campaign, I regularly see ‘Facebook friends’ – all now in their 30s – update their ‘status’ at the end of the working week with those immortal words ‘Thank Crunchie it’s Friday!’. Friday is, after all, the day to treat yourself…What the heck, it’s nearly the weekend – I’ll have fish and chips for lunch, a Chinese takeaway for dinner, let’s open another bottle of wine, give me that chocolate bar…
So, do sales of Crunchie rise significantly on a Friday? Does a sizable proportion of the UK’s population effectively promote the brand by word of mouth one day a week? If so, I guess you could call it a pretty successful campaign. But, let’s face it; Cadbury won’t want sales to suffer the other six days out of every seven. By encouraging us all to ‘Get That Friday Feeling Every Day’, Cadbury is trying to associate its brand with feeling good, enjoying life, treating ourselves. Why should we only feel happy as we’re leaving work or finishing school on a Friday? Life’s too short to be miserable the rest of the week!
This latest campaign centred around getthatfridayfeeling.com might not be groundbreaking as such, but it’s still pretty inventive and a clever way to encourage people to go to the site. Giving away 500 Crunchies a week for 6 weeks won’t exactly break the bank for Cadbury, but there are bound to be far more than 500 website visitors trying to get their hands on a free chocolate bar. Why, with 500 available every Friday, it certainly seems within the realms of possibility that you or I could be munching away on a free Crunchie soon. Even if you’re not one of the lucky ones, it’s still brought the brand to front of mind. If you haven’t had a Crunchie for some time, it could just whet your appetite for one. Next time you’re in the chocolate aisle at the supermarket, Crunchie might just get the nod ahead of your usual preferred snack.
This wasn’t my planned Thursday Night Insight for this week, but seeing as the promotion finishes next Friday (30 October), I thought you might appreciate the tip. I’m afraid this offer is only available to UK residents, but I’ll keep my eyes peeled for any tasty global freebies.