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Marketing 2.0 for Competitive Advantage Detlev Bio • Schulich School of Business, Associate Professor Marketing • Research, writing, teaching (Exec, MBA, BBA) • Consulting – – – – – 2 Vattenfall BMW, UK Board of Education, City of Providence, USA Toronto FC Various start-ups (with various success) What we will do today • Discuss how communication value (through customer value) is generated and delivered in a Web 2.0 world • Effective web-based communication tools – Brand engagement w/o push • Develop an online marketing communication plan – Things you can do tomorrow At the end of this day, you should be able to…. • Understand the fundamental change of MarCom in a web 2.0 world • Describe the various online communication tools and their role in MarCom. • Have a set of online communication recommendation for your organization. LEARNING VEHICLE • Please note that this is a WORKSHOP. • Each step will entail small group discussions and presentations to the entire class LEARNING JOURNEY: Day 2 • 9 to 10.15: Intro, Exercise 1 • 10.15 to 10.30: Coffee • 10.30 to 12: Overview of Web 2.0 MarCom, Exercise 2 • 12 to 1: Lunch • 1 to 2.15: Exercise 3 • 2.15 to 2.30: Coffee • 2.30 to 4.30: Though Leadership, Exercise 4 Now you… • What do you consider your organization’s most significant communication challenge today? • What do you consider your organization’s most significant communication challenge in the future? • What does web 2.0 communication mean to you? • If you could choose to be the PR manager for one celebrity living or dead, who would it be? Why? A Crisis? • “Today’s marketing world is broken…We are still too dependent on marketing tactics that are not in touch with today’s consumer” – Jim Stengel, Global Marketing Officer, Procter &Gamble • “Used to be, TV was the answer. The only problem was it stopped working sometime around 1987.” – President GM North America • “Broadcasting an ad on television or in a newspaper is admitting you have no idea who your customers are.” – Gary Loveman, CEO, Harrah’s • Today the customer is in charge and whoever is best at putting the customer in charge makes all the money. Stephen F. Quinn, Senior vice president for marketing, WalMart. • Consumers wrest control away from brand management control freaks...get over it. Turning your brand over to the consumer is taking control - and in fact, if you do, they'll return it to you in better shape. Russ Klein, President for global marketing, innovation and strategy, Burger King Exercise 1 • What to do when it stinks? Let’s hear it… Let’s take a break! Let’s Revisit: • What is traditional MarCom all about? • What is different about Web 2.0 MarCom? Of Influentials and Search Engines •Bloggers •Podcasters •Videobloggers •Sneezers •Digg •Technorati •del.icio.us •Flickr •Google 21ST Century Communication Challenges • Twitter, ‘nough said… • FRAGMENTATION!! – Attention – Demand • Fragmentation makes – reaching – keeping the attention of your customer ever harder. Interruption • Does Customer Interruption still work? Web 2.0 Communication shows two things: • Consumers love to interrupt! • Consumers love to talk! Changes your Relationship • From ‘selling to customers’ to ‘hosting guests’ • From ‘controller’ of communication (teller of stories) to ‘enabler’ of communication (resource for stories told by others). 3 Strategic Implications • Valorize Social Communication • Brand and Market Leadership through Thought Leadership • Relevance through Customer Personas Digital Communication Map Consumer Marketer Marketer Consumer Digital Communication Map Consumer •Retail sites •Banner Ads/Links •Email/Spam •News Releases •Blogs/Online forums •Search Engine Optimization •Viral/social marketing Marketer Marketer Consumer Digital Communication Map Consumer •Social search •Third party and retailer evaluation sites (e.g. epinions.com) •Blogs •Wikis •Social networking sites Marketer •Retail sites •Banner Ads/Links •Email/Spam •News Releases •Blogs/Online forums •Search Engine Optimization •Viral/social marketing Consumer Marketer Digital Communication Map •Social search •Third party and retailer evaluation sites (e.g. epinions.com) •Blogs •Wikis •Social networking sites Consumer Marketer •Link building •News releases •Blogs/Online forums Marketer •Retail sites •Banner Ads/Links •Email/Spam •News Releases •Blogs/Online forums •Search Engine Optimization •Viral/social marketing Consumer Digital Communication Map Consumer •Search •Email •Company-owned product evaluation sites (beta) •Blogs/ Online forums •Feedback sites •Social search •Third party and retailer evaluation sites (e.g. epinions.com) •Blogs •Wikis •Social networking sites Marketer •Link building •News releases •Blogs/Online forums •Retail sites •Banner Ads/Links •Email/Spam •News Releases •Blogs/Online forums •Search Engine Optimization •Viral/social marketing Consumer Marketer In your Groups: • Work together to fill the quadrants for the company assigned. – Describe digital communication strategy? – Analyze S&Ws – What should it do? Nike, SunLife Insurance, Starbucks, Shell Consumer Marketer Marketer Consumer Let’s share… Lunch someone? Recall: 3 Strategic Implications • Valorize Social Communication • Brand and Market Leadership through Thought Leadership • Relevance through Customer Personas Let’s look at Some Tools We focus on: • Viral marketing • Online Forums, Wikis • Blogs (incl. Audio, Video) Exercise 3 Coffee Break?….yeah! Is there a Simple Formula to Success? • No… Turn a good story… • …into a groundswell of communication and attention. – Will it blend? (youtube) – Nokia N95 (blog seedings) – Mike Pedersen (www.golf-trainer.com, www.performbettergolf.com/blog) – Le Cache Premium Wine Cabinets (winestorage.blogspot.com) But also… • BearingPoint – Mike 2.0 wiki But why? So what? THOUGHT LEADERSHIP!! Final Exercise Go to your organization’s website. 1) Formulate your thought leadership strategy. • What would thought leadership in your context look like? 2) Recommend ways to support or implement your thought leadership strategy using Web 2.0 tools. 3) How would you generate (brand) value from the communicative energy of your customers? Let’s hear it! Let’s Summarize • Advertising faces new challenges – Attention, niche demand, value of social communication • A new medium changes relationships – From customer to guest – From teller of stories to resource for stories • Brand Value: – Brand means authentic thought leadership (not one-way interruptions) – Brand value depends on the amount (and maybe quality) of social communication You did It! We focus on: • • • • • • Search engine marketing Viral marketing Online Forums, Wikis, List Serves Blogs (incl. Audio, Video) Email Online retailing/Website Strategies Search Engine Advertising • 3 types – organic search marketing (results based on algorithm) – pay-per-click search marketing (results based on auction system) – social search (based on collaboration of consumers) Organic Search • #1 Rule: • Speak your customers' language. – Harder than it seems: • irrelevant what you think your customers use to find you. • or even what phrases you want them to find you with. Pay per click • The fastest growing form of Internet Advertising (vs. traditional CPM) • Advertisers pay NOTHING for audience exposure • Advertisers pay only when someone clicks on one of their ads (usually $.05 to $2.00) • Advertisers bid for keywords that describe their product or service. The number of keywords is unlimited (inventory) • ROI easily calculated – If you can measure it you can manage it • Largely Google, Yahoo, Microsoft Social Search • User generated search results – Aim to produce more targeted results – Aim to produce more relevant results – Aim to produce more credible results The Long Tail of Advertising • The economics of Internet retailing increase the amount of inventory that retailers can viably offer – Walmart offers 6 times as many sku’s at walmart.com than in the largest store • PPC enables a similar opportunity with ad “inventory” • While the bottom 30,000 search terms may not generate the most revenue they are nevertheless very significant • A richly segmented “marketplace for attention” is created The Future of Search • Search will continue to evolve and increase in relevance • • • • Snap.com (use click stream info to augment results) Visual enhancement (Mooter, Kartoo) Blog Search (Technorati, Google, Yahoo) Image search (Flickr and others) The Future of Search (2) • Search will colonize new areas • Geographic search (San Francisco and Google Local) • Context sensitive • Image • Mobility • Multi Channel • Blogs • Multimedia