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Digital Marketing Foundation Inbound vs. Outbound Marketing

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Digital Marketing Foundation Inbound vs. Outbound Marketing

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  1. Digital Marketing Foundation Inbound vs. Outbound Marketing Presented by Karen Porter Department of Marketing School of Business Administration The University of Montana

  2. Course Specifics • About the course • Hands-on & interactive • 4 weeks with “homework” • First segment of 20 week OSMM certification course • impactonlinemarketing.com/sell-digital-foundation • About your instructor • karen@impactonlinemarketing.com • 406-529-8931 • About YOU and why you are here • Introductions • Student information sheets

  3. What is Marketing? • Astute evaluation of trends and opportunities • Deep insights about customer needs • Knowledge of competitors, positioning & value • Segmentation, targeting, and positioning • Effective use of Marketing Mix – the “4 P’s” • Effective relationship management strategies

  4. Inbound vs. Outbound Marketing • Outbound marketing is traditional marketing • Marketers identify the consumers they want to reach and then broadcast out to them • Interruptive marketing • One-way communication • Inbound marketing lets customers find YOU • They’re searching for what you have and locate YOU • Two-ways (or multi-way) communication • Interactive in nature • Focused on relationship building and loyalty

  5. Who is Your Target Market? 80/20 Rule Identify by similar characteristics: Age, Gender, Income, Education, Interests, Occupation and Other Criteria of Relevance

  6. Strategy Decisions Can Be Very Difficult

  7. Key Marketing Strategy Decisions

  8. Insights from Target Customers

  9. Target Insights > Strategic Decisions >The 4 P’s of Marketing

  10. Rules of the 4 P’s

  11. Delivering What Your Customers Want

  12. NOW You Can Think About Specific Marketing Tactics

  13. Before the Internet • Businesses relied upon traditional media: • Yellow Pages • Newspapers • Television • Radio • Magazines • Telemarketing • Direct Marketing • Fax Marketing

  14. Times are Changing • Traditional advertising media are losing effectiveness – and here’s why!

  15. Times are Changing Traditional advertising media are losing effectiveness • Directories – (focusing primarily on Yellow Pages) • Get out-of-date quickly (may be inaccurate) • Expensive • Multiple options (does Missoula need 3 Yellow Pages?) • Does your business need to BE in all three? • Huge fall-out in usership – consumers moved online

  16. Times are Changing Traditional advertising media are losing effectiveness • Print Publications • Printing costs have increased • Readership is skewed to older demographics • Fewer readers = lower distribution = lower ad revenues • Major newspapers have closed their doors

  17. Times are Changing Traditional advertising media are losing effectiveness • Television – harder to grab and hold attention • Fragmentation of viewers • Zipping (skipping through commercials) • Channel surfing during commercials • Alternative viewing – Hulu

  18. Times are Changing Traditional advertising media are losing effectiveness • Radio • Background medium (hard to get undivided attention) • Alternative options in vehicles • Satellite radio • Plug in your iPod • Listen to CDs • Alternatives in homes/offices • Internet radio (Pandora, etc.) • Cable Television music options • iPods

  19. Times are Changing Traditional advertising media are losing effectiveness • Direct Mail– costly / low conversion / slow • Costly on a per piece basis • MUST be tightly targeted to be cost effective • Only works for higher prices items (based on ROI) • Low conversion • Slow

  20. Times are Changing Traditional advertising media are losing effectiveness • Directories – print versions go out of date / expensive • Print Pubs– in decline / costs up / shifting readership • Broadcast– fragmentation / zipping / zapping / Hulu • Direct Mail– costly / low conversion / slow • Telemarketing – do not call lists / intrusion factor • Faxes– mass faxing less effective / easy to overlook • Referrals – ALWAYS relevant / but lack of control

  21. Times are Changing Traditional advertising media are losing effectiveness • Telemarketing – 1990’s was huge for this • Do No Call Lists • Significant reduction of registered land lines • Viewed as privacy invasion (i.e. “spammy”

  22. New Media is Online& Online Statistics are Astonishing • 1 Trillion + — number of web pages in the world • 200+ Billion online searches each year in U.S. alone • 30 % — searches that are targeted locally (city or zip )* • 20 % — total online searches done by mobile phones* • 37 % — small businesses without a website* • 80 % — local searches done on mobile devices = buyers* • 0 % — chance to connect with consumers who are searching online if an organization doesn’t have an online presence * 2012 statistics based on U.S. data only

  23. Business Owners Face Marketing Challenges • Recession has led to slower sales & lower profits • Traditional media declining in effectiveness • Consumers are searching for businesses online • Business owners are confused and frustrated about how to use online marketing effectively • Many businesses lack either the knowledge, the interest, or the time to learn online marketing and develop an online strategy…..

  24. Does This Describe You?

  25. A Website is EssentialBut Having One isn’t Enough • Websites lend credibility • The business card of yesterday • Is your website getting found? • Know how people are searching & where your site is ranked • How do you drive traffic to a website? • Know what your prospective customer is doing online • Is your site helping or hurting your business? • Does it promote your business to best advantage? • Your site should be an online HUB! • Does it promote your business to best advantage?

  26. Your Website as an Online Hub

  27. Why Being “On” Google is Vital • 70% of all U.S. online searches are done on Google • 80% + of intl. online searches are done on Google (with a few notable exceptions – ex: China) • 60% of searchers do not typically search beyond page one of search engine results • Do you know what your potential customers are searching for? – Keyword Research • Need to be FOUND by those searching for the goods and services you offer – SEO (SearchEngine Optimization)

  28. Website Not Getting Found? • Was the site developed strategically? • Were goals clearly defined on the front end? • Was keyword research done first to drive how and where those words are optimized on the site? • Did development include these 3 key elements? • Solid coding (the site functions as it should) • Strong design (attractive, credible & user-friendly) • Strategic marketing (solid SEO, marketing strategy done on front-end, integrated and ongoing online marketing strategies) • Are you using best practices of SEO? • On-page optimization • Links coming into the website (quality counts more than quantity) • Social validation

  29. Mobile Marketing – The Next Wave • 67 % of U.S. citizens now own smart phones • Japan and Europe mobile are far ahead of U.S. in smart phone usage; the U.S. is sure to follow • 97% of smart phone users search online by phone • <20% of all sites are mobile-friendly • By end of 2014, more people will access websites by smartphones and tablets than by desktops and laptops combined!

  30. Social Media – “Do I HAVE to use…” • Facebook • Twitter • LinkedIn • Pinterest • Google + Local • Blogging • Instagram • Other?

  31. Social Media KISS – F.O.C.U.S. • Focus – on 1-2 targeted social media platforms • One in four “rule” • Calendar – plan monthly / quarterly in advance • Utility – use tools to make posting easier • Social – create content that is “share-worthy”

  32. “Share-worthy” is KEY • Share-worthy is NOT:

  33. Share-worthy Content • Is NOT: • Pitch, pitch, pitch • Obviously self-serving all the time • One-sided communication • IS: • Interactive – two way communication • Involves your customers, fans, etc. • Engaging!

  34. Four Types of Content • Informing • Storytelling (most important) • Product / service reminders (i.e. “selling”) • General (but related) content

  35. Informing Content • What’s new in your business • New products • New services • New staff • Updates special events • Sales and promotions • Special events – grand opening, holiday celebration, etc. • Other “announcement” type information • Awards • Media coverage • Etc.

  36. Storytelling Content • Stories about your customers • Stories about you – personalize the business owner / managers of the business • Stories about staff and why they work for you • Schedule: as often as possible – will need to encourage participation!

  37. Product & Service Reminders • Product / service highlights • Subtle “selling” of a product your carry or service you offer • Present as problems to solutions when you can • Do NOT make it a strong sales pitch • Soft-selling in social media works much better

  38. General Related Content • Fun, FYI-type information that is relevant to your products / services • Cartoons • Memes • Photos sent in my customers, • Etc. • Fun, FYI-type info that is universally appealing (quotes and related)

  39. What Does All This Mean for Biz? • Marketing strategy needs to marry online and offline marketing initiatives • Know specifically the words your customers are using to search – them use those words online • Use online findings to market offline • Use media that is right for your type of business • Know what’s already working for you - continue using what works and eliminate what’s not

  40. What Does All This Mean for Biz? continued • Know your “conversion funnel” statistics – having the ability to measure gives you power • Develop a STRATEGY (don’t just try a hodge-podge of ideas hoping something will work) • Measure and tweak what’s working and then “rinse and repeat” to improve your results • Do NOT try to do everything – start by doing several things really well and you’ll have better success • Add more things as you succeed with initial efforts

  41. Karen Porter karen.porter@business.umt.edu -or- karen@ImpactOnlineMarketing.com (406) 529-8931