retaining authority the consultant effect tim wagner vice president [email protected]...
TRANSCRIPT
Raise your hands into the air and flail them about
as if there were no repercussions.
Big brands don’t haveanything you don’t have …
except more money.But, you have access to the same social media platforms, the
same Internet, similar tools, andthe same advertising opportunities.
And, you can emulate their strategieson a smaller scale.
@prranch
@prranch
How Should I Think About Marketing?
Marketing is about growth & domination
Increasing your market share
If I spend $100 and get $200, can I spend $200 and get $400?
At some point you will spend $1,000 and get $2,500
@prranch
What Should I Spend?
8-10% of total revenue (depending upon competition)
HA! You didn’t expect a real answer did you?
Funny how 10% works – tithe, savings, etc.
Could be as high as 25% for a startup
@prranch
What’s the right “marketing mix”?
Marketing = selling
Marketing properties are under your control:• Website
• Social mediums (sort of)• Email lists
Advertising is paying for attention• Not preaching to the choir, new customers
Public relations is getting “free” attention• Press outreach• Guest blogging
• Social mediums (sort of)
@prranch
Traditional Advertising
Audience and opportunities are diminishing
Price is still comparatively high for TV and print
@prranch
@prranch
Online Advertising
Text ads in search - PPC
Display advertising on other sites
Targeted
Cost is low per impression
Conversion (click) rate is low
Watch your cost per conversion
@prranch
@prranch
Display Costs
$300 might buy you 100,000 impressions
From which you can expect about 100 clicks
If you convert 10 of those clicks into customers you’ve
acquired those customers at $30 each
What’s the average revenue value of a customer to you?
@prranch
Owned Properties
Websites & blogs
Email lists
Social profiles
Control the message
Social marketing mix
@prranch
Why do people follow brands?
Owned Properties
Social marketing mix
Promotional Messages
Establishing Authority & Expertise
Curating Third-Party Valuable Content
Interacting With Fans & Followers
SMM is for – top of funnel, branding, some conversion
@prranch
Public Relations
News – angles, local
Networking – real life!
Social networking
Offsite SEO – link outreach
Guest posting
Broken link building
Ask
@prranch
Try Everything
Experiment
Learn from failure
Double down on success
@prranch
I love it when you call me
“Big Data”
Increase Marketingin Lean Times
Do you believe in your product?
You don’t shrink to grow
Advertising brings revenue
@prranch
Marketing is Forever
There is no “set it and forget it”
There are no reliable shortcuts
You don’t do any kind of marketing once – SEO included
Your goal is to increase your marketing spend constantly
Efficiency, not cheapness
@prranch
If You Ever Hire an Agency
Ask only one question:
“I have this much budget - $XX. What is the most
you can do with that money?”
@prranch
[email protected] @prranch