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New Media Toolkit (updated!)

September 15th, 2010

toolkit1The online media landscape is in a constant state of change, and with the growing list of opportunities to use digital media as a marketing channel, the tools are evolving quickly.  Below is my New Media Toolkit – a list of online apps, services and vendors that I’ve found to be of great value.  It is by no means comprehensive, but if you need help today, these are great places to start!

Competitive Intelligence Tools

  • Quantcast is an outstanding resource for assessing visitor demographics and user interests for your site and competitors’ sites.
  • Compete.com is one of my favorites for analyzing comparative site traffic and levels of engagement over time.
  • Alexa.com should be mentioned as well.  While I don’t trust the data for site traffic (see Can You Trust Competitive Site Data?), it is the only free estimate that shows the number of page views per visit.  Since Compete no longer offers this for free, Alexa is still useful.

Search Engine Marketing Tools

  • Google Estimator allows you to forecast ad inventory, cost per click and projected media spend for a given set of keywords and geographic market.  While this is better than nothing, the results may vary significantly from reality for a variety of reasons.  Use with caution.
  • Google Ad Preview allows you to see how search results appear in different parts of the World
  • Search Status Toolbar from Quirk: one plug-in allows you to see keyword density, no-follow links, page rank, inbound links and other great tools (referred to me by Catfish Comstock)
  • Google Trends and Google Insights are valuable tools for seeing trends in keyword searches. This is one of the best ways to measure changes in demand due to cyclical or seasonal factors.

Social Networking Sites

  • Facebook: join me and 600 million of my extended friends. Just don’t freak out when your mother sends you a friend request (love you mom!)
  • LinkedIn – if you are in business and you are not on LinkedIn, you are missing the boat. Seriously.
  • Twitter - before you say no, take a test drive.  It’s a great way to promote your content and you may even have fun doing it.
  • Slideshare – best described as “You Tube for Powerpoint” slideshare is the #1 place to post your presentations and demonstrate thought leadership.  It also happens to have some powerful Google juice; several of my presentations have top rankings (e.g. “Social Media Business Case“). To see how it works check out my Social Media Strategy preso.

Social Bookmarking and News Sites

  • While there are many social bookmarking sites, I prefer Digg.com and PropellerStumbleupon is also worth exploring. I tried using Newsvine but they suspended me for linking to my own blog (now that’s an interesting policy…).
  • In terms of online marketing news, I like the eMarketer, Online Media Daily (MediaPost), AdExchanger and IAB SmartBrief newsletters
  • There are many social media news sites, but if you have time for only one, subscribe to Mashable for the latest in social media news and other cool things of interest.

Social Media Tools
No media toolkit would be complete without recommending some tools to help you manage social media activities. Here are a few for your Tweeting and Posting pleasure:

  • URL Shortening: http://bit.ly allows you to truncate links and track click-throughs. Nice way to curate content.
  • Post / Tweet Aggregators:  Over the past 12 months I have used numerous post / tweet management tools including Ping.fm, Twitterrific, TweetDeck and TweetLater.  But I now use and recommend Hootsuite for several reasons: 1) ability to post to multiple profiles on Twitter, Facebook, Facebook Fan pages and LinkedIn, 2) scheduling capabilities, 3) great stats, 4) intuitive interface and 5) good iPhone app.  I also use Twitter Selective Status Facebook app as it allows you to selectively update Facebook status when tweeting old-school style (using Twitter.com) simply by adding #fb at the end of the tweet.
  • Another aggregator (a must have!) is Nutshell Mail. It is a very useful app that aggregates updates from Twitter, Facebook, LinkedIn, etc. and sends them to you in an email.  If you are blocked from accessing social networking sites at work, this will help. I also LOVE that it allows me to Unfollow with one click from the email.  It’s easier and faster to Unfollow from Nutshell than it is from Twitter.
  • Social Media Bookmark aggregator: Onlywire is a decent plug-in that allows you to share once and post across most social bookmarking sites.  If you have a blog you can use it for free (just add some code to your blog).  Or you have to pay $2.99 per month.
  • Blog Monitoring: several vendors offer solid toolsets.  The more robust and comprehensive, the more expensive, ranging from SM2 and Addictomatic (both are free) to the not-so-free social media monitoring tools BuzzMetrics and Radian6.

Twitter Tools

  • Search.Twitter.com is Twitter’s native search engine; use it to find out how much you or your competitors are being discussed on Twitter. Using tools like Hootsuite you can now access Search.Twitter through the dashboards.
  • For charts showing how many users are following you (or your competitors) over time check out TwitterCounter.
  • If you are trying to keep your ratio of Following to Followers in check, use FriendorFollow to find out which of those you are following are not returning the favor.
  • If you are seeking to find influencers on Twitter (users with lots o’ followers), TweepSearch is a great place to start.
  • MrTweet connects you with others on Twitter based on interests and industries
  • Twitpic allows you to upload pics with your tweets (and we all like pictures!)
  • Everythingtwitter is well… I guess the names says it all

Call Tracking Tools

Your web site should use dedicated numbers that allow you to track the source of inbound calls.  Two vendors we’ve used are Voice Star and Mongoose Metrics.  Both allow you to track the source and duration of inbound calls at a relatively low price.

Campaign and Social Media Measurement

If you’re seeking to answers on how to measure the impact of online media (Paid, Owned and Earned) you should visit us at EncoreMetrics.com.  All we do is media measurement and attribution; and we do it very well.

Miscellaneous Wrapping this up, I’ll recommend Wordle as a fun, yet practical, app you can use.  Wordle creates wordclouds in a variety of formats. Here’s one I created using the copy from this blog pos5. Enjoy!

Picture 4

Again, this is not intended to be the all-encompassing New Media Toolkit, and I’m sure there are many great tools that were overlooked.  That said, I hope these are helpful in becoming a more prolific online marketer.  Please feel free to COMMENT, SHARE with others and SUBSCRIBE to our blog. We look forward to your feedback!

Steve Latham (follow me on Twitter)


Spur Interactive TwitterContact-us3c

 

 



Twitter Best Practices for Social Media Marketers (Updated 2010)

August 7th, 2010

twitter birdFor 2+ years I’ve been advising clients on how to use Twitter as a marketing platform.  Surprisingly, it seems that most brand marketers still don’t get it.  With the goal of doing my part to help the industry master this channel, I’m sharing my best practices for Twitter Marketing.  While these may not be comprehensive, they will provide you with 90% of what you need to be proficient at building your brand via Twitter.  In order of priority – here is my list. Enjoy!

Twitter Best Practices for Social Media Marketing (according to @stevelatham)

1. Brand Your Profile
Before you start tweeting, make sure your profile is appropriately branded.  Update your profile, including a tight summary of who you are and how you distinguish yourself.  Include your URL and use a pic that can be identified when viewing a stream on a mobile device.  You can now find personalized Twitter backgrounds for cheap so there’s no excuse not to have one (see ours here).

2.  Provide Interesting and Engaging Content
While Tweeting is easy, it’s important that you do it right, starting with a solid content strategy.  Content recommendations include:

  • Based on approved content guidelines, create Tweets that are engaging and relevant to target audiences.  It should be easy for potential followers to see that your tweets are valuable and worth reading.
  • Introduce your content.  People often provide links to articles without any explanation as to why it might be relevant to the reader.  I always try to provide my take on whatever it is I’m linking to.  I’d recommend you do the same.
  • Write tweets that will be shared.  Rather than simply posting links, introduce links with compelling copy that encourage clicks.
  • Allow time to pass between each tweet (at least 15 minutes) for several reasons: 1) no one likes to have their dashboard of tweets dominated by one account, 2) if someone is not watching they are likely to miss them, 3) spreading them out demonstrates consistency that yields brand benefits.
  • Limit Tweets to 120 characters so they can be easily re-tweeted without exceeding the 140-character limit. See “120 is the new 140″ from @BrianSolis for more tips.
  • Leverage real-time search by prominently including buzzwords that will picked up by Google, Bing and other search engines.
  • For more on Content Marketing check out @juntajoe and his blog.

3. Remember! Engagement = Listening + Responding
Social media is about interacting, and you can’t do that if you’re not listening.  In addition to listening for your brand mentions, you need to keep an eyes on what your network is tweeting about and participate in the discussion.  Here are some tips:

  • Use tools to track when your profile or brand is being mentioned on Twitter.  Tools include www.Search.Twitter.com as well as the SM monitoring tools mentioned previously.
  • Use the native search feature in your Twitter management tool to follow topics that are of importance to you.  For example, I have a search column in Hootsuite for “Social Media Strategy“.  This is how I keep up to date on the latest tweets on this subject.
  • When your brand is being mentioned in a positive way, RT the message, follow and recognize the person who tweeted about you.
  • Acknowledge mentions.  Monitor when your Twitter account name is mentioned and RT to thank, and/or acknowledge those who are mentioning you.
  • Build credibility and goodwill with your followers by re-tweeting (RT) posts that will be of interest to your audiences.  If you RT a follower’s post, they may acknowledge the RT to their followers, thereby promoting you in the process.

When your brand is being mentioned in a negative way, you can either 1) respond, or 2) ignore it.  If you choose to reply, consider the risks, given the nature of their tweet, their motives and their objectives. A confrontational response is rarely successful.  If you want to address a customer complaint, ask them follow you so you can then send a DM and take the conversation offline.  As mentioned above, ignoring the mention is often best.  You can inadvertently cause much greater damage if you engage in a public scuffle with a crazy person.

4. Building a network of followers
Without a network there is no reach, and without reach there is no ROI.  Contrary to most hopes and beliefs, networks do not build themselves; if you want followers, you have to work on it.  The good news is that with Twitter, the process is relatively easy.  When you follow someone, they will receive an email notification.  Currently, the normal etiquette is to respond by following the person who followed you.  Judicious tweeters will read your latest tweets to determine if your content is worth following.  If the content is good, most will follow you back – at least for a while.

  • Start with your own employees, partners, vendors and community.  Announce your new Twitter account and ask employees to follow and share with others.
  • Identify the top 50 influencers in your category on Twitter as these people can provide visibility and credibility for your brand among their networks of followers. Use www.TweepSearch.com, www.MrTweet.com and www.Twollow.com to find users with shared interests.  Look for those who have large numbers followers and are active in sharing their opinions with the masses (aka influencers).
  • Follow people who follow your Influencers.
  • Include a link to your twitter account in email, on your site, on all social networking sites and in all correspondence.
  • Remember to maintain a favorable ratio of Following / Followers of +/- 1:1. While building your network, take time to check out who you are following that is not following you back at www.FriendorFollow.com.  For each person who is not following you, you can either: 1) stop following for good, or 2) unfollow and then re-follow.  If they do not respond on your 2nd attempt to reach out, you may consider unfollowing them for good.
  • Be careful with TwitterBots (AutoFollow) tools.  As you’ll quickly learn, building a network takes time.  If you are interested in using an network-building service, make sure  you use a credible tool or service that follows Twitter best practices. Failure to do so will result in suspension of your account.  While there are a lot of cheap bots that to avoid, there are some services that work (full disclosure: we offer one that works well).  Before you buy, do your homework and ask for references.

5. Managing Multiple Accounts
Many marketers maintain at least two types of Twitter accounts – one for their company and one for their personal tweets.   Twitter management tools (my favorite is HootSuite) allow you to manage multiple profiles.  Since many may follow your personal and work accounts, make sure you don’t tweet the same content at the same time.  Another common practice is to RT your company tweets from your personal account.  Remember that many will follow your brand and personal profiles, so make sure you space them out (no simultaneous tweeting!).

Common Twitter Mistakes to Avoid
Here are some common content mistakes many marketers make when Tweeting:

  • It’s all about me!!!  Too many still use social media a megaphone vs. a telephone.  Success requires that you listen, engage and interact with others in the community.
  • Using social media as a press release distribution platform.  While there are sites that are great for press releases, this should be the exception, not the norm.  As noted, conversations require an exchange of information.  If all you do it tell the world about your firm, audiences will grow tired of listening.
  • Boring content.  You should always seek to include and introduce links to video, articles, audio and other media that will be interesting to audiences.
  • Vague content. Doesn’t it bug you when someone posts a link with a cryptic introduction?  Make it easy for followers to see what you are presenting to them.  Introduce your links.
  • Sharing information that is confidential, sensitive or not appropriate.  This is especially important if you work for a public company or in a regulated, hyper-competitive or litigious industry.
  • Drawing unnecessary attention or being overly defensive when addressing negative comments.  Sometimes it’s best to ignore the haters.  If you respond, you may make something big out of a small issue, which may be exactly what they want you to do.

In Closing…
Again, this may not be all-encompassing, and I’m sure I’ve omitted a few important lessons.  That said, I hope these are helpful and that you find value in them.  If so, please COMMENT, SHARE and SUBSCRIBE to our blog.  Thank you for your feedback!

Steve Latham (follow me on Twitter)

Online Strategy and Best Practices for Health Care Marketing (Webinar)

December 18th, 2009

apple1A Changing Landscape
The Web has dramatically changed the way we live our daily lives – both personal and professional.  Media consumption has shifted dramatically, along with the way we seek information.  This is especially true in the health care industry where patients are taking a more active role in their health care decisions and the advent of medical tourism has created a global marketplace that is becoming increasingly competitive.

New Challenges
Health care marketers, both domestic and abroad, have a daunting task: develop and execute strategies to accommodate changes in customer behavior, fragmentation of media and increasing competition from global providers.  For many health care providers, one of the keys to success (and in some cases survival) will be the ability to reach, engage and cultivate relationships with patients via the Web.  This is clearly much easier said than done.

The Need for Direction
Most health care marketers know the Web is a critical medium for reaching patients and building your brand.  Yet many are still on the sidelines, wondering what to do, where to start and how to measure results.  Whether you’re looking at Google, Twitter, Facebook, YouTube, Email, Blogs or other media, there are many options and seemingly few answers to the question “what should we do?”  Based on 6+ years of online marketing in health care, along with 3+ years of social media marketing on behalf of large and small brands, I believe I have the answer which is presented in the archived webinar below (see below for table of contents).  If you’d like to view the slides (without the voice-over) view Online Strategy and Best Practices for Healthcare Marketing on slideshare.

Trouble viewing? View “Online Marketing for Health Care” on Vimeo.

Presentation Overview
With the goal of helping health care providers, marketers and facilitators understand interactive marketing, I conducted an online webinar for the Medical Tourism Association in 12/09. The lessons are equally applicable to international and domestic providers. “Online Marketing for Health Care: What You Need to Know!” addresses the following:

1. Business case for online marketing in health care
2. A five-point plan (and best practices) for online marketing success
- Understand your audience
- Optimize your Web site
- Create demand via paid, owned and earned media
- Engage and interact via social media
- Define metrics and measure results
3. Social Media: Keys To Success
- Business case for social media
- Common mistakes and pitfalls
- Tactical recommendations for success

Social Media Resources
If you want to learn more about social media, here are some related posts and presentations:

- Social Media Strategy for marketers
- Business Case for Social Media
- New Media Toolkit

I hope you find this to be of great value to you and your organization.  If so, please feel free to comment and share with others!

Steve Latham (follow me on Twitter!)

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Online Marketing for Health Care Providers

October 13th, 2009

Health care is a hot topic these days!  It’s a huge industry ($2.5 trillion in annual spend) and one of our biggest employment sectors.  It’s a lightning rod in Washington, and it seems the older we get, the more it becomes a factor in our daily lives.  It is also a long-term growth industry that offers significant opportunities to health care providers who can effectively and efficiently reach, engage and acquire customers (i.e. it’s a fertile field for great marketers!).

Changing Customer Behavior?
Rising costs, restrictions in coverage and widespread access to health information is fueling consumer-driven health care.  The web has empowered consumers to become much more knowledgeable about their condition and enabled them to make more educated decisions about the type of care they receive and where they receive it.  Patients are taking a more active role in their health care decisions and are increasingly relying on their own research over the advice of their primary care physician.

Changing behavior is not just limited to patients.  Boomer docs and administrators are retiring, and the next generation of physicians and health care professionals are very web-savvy. They communicate, collaborate and do research online. While medical books and journals will always have their place, online is becoming the preferred medium for staying current. The Web is becoming a critical channel for physicians as well as consumers.

Change Creates Opportunity!
Shifts in media consumption are changing how we think about marketing. Change creates opportunities for forward-thinking brands, and challenges for those who cling to the status quo.  The leading providers of tomorrow are those who can see the trends, adjust their approach and engage consumers and physicians when and where they spend their time: online.

When you consider the growth in online media consumption with the compelling advantages offered by digital media (ability to target, engage, interact and measure) it’s clear that interactive or online marketing is a “must-have” for marketing success.

Navigating the Digital Landscape
While most health care marketers understand the importance of digital media, many are confused, overwhelmed and in need of direction.  Search engine visibility is critical, but so is Twitter and Facebook.  If you aren’t a widely known brand, display advertising can be an effective channel for creating awareness and demand. Email marketing is still highly underutilized by most, and mobile is becoming more and more important.  The online media landscape changes daily, making it a very complicated medium.  It’s not surprising that many health care marketers are still on the sidelines, wondering where to start, what to do and how to measure results.

Health Digital landscape

Roadmap for Success
With the goal of helping health marketers understand how to use online media to build their brand and grow market share, we’ve produced the presentation above.  In it we’ve developed the business case for online marketing in the health care arena and provided an overview of the landscape, a roadmap for execution and keys to success in interactive. You can also view the presentation Online Health Care Marketing on slideshare.

Please feel free to comment, share with others and subscribe to our blog.  We look forward to your feedback!

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Online Marketing in the Energy industry

August 15th, 2009
online marketing in energy industry

I recently presented at Gulf Publishing’s conference “Marketing in the Oilfield” on how energy marketers can leverage online marketing and social media to engage audiences and build their brands.  My presentation is embedded below for your viewing pleasure :-)

For those who want the cliff’s notes, the key takeaways are:

1. Why B2B marketers (including oil and gas / energy service companies) need to be marketing online
2. Roadmap for incorporating online into your existing marketing programs
3. Business case for incorporating social media into an energy marketing program
4. Common social media pitfalls and tips for successfully avoiding them

Here is the presentation.  If you can’t view please visit http://bit.ly/2CEUr

I hope you find it to be of value. Please feel free to comment below and share with others!

Steve Latham
http://twitter.com/stevelatham

Social Media: Shiny Object or Killer App?

July 28th, 2009

shiny objectWhile preparing for an interview I was reviewing questions I received from the journalist. One question was “how does your firm leverage social media?” It seems that social media is the latest shiny object that is on the wish list of most brand marketers.  Yet if you ask them why they need it, you’re likely to get a pithy, high level response such as “because we want to engage and interact with our customers.”  Ask how they plan to do that and you’ll often get blank stares.

Don’t get me wrong – I’m a huge fan of social media and I believe it is a killer app for many companies. This is especially true for professional services firms like mine.  At the same time, I frequently see a lack of planning, coordination and understanding of how to best use social media to achieve marketing objectives.  So now let’s go back to the opening question…

How do we use social media? We work in an industry where the cobblers kids (sans shoes) run rampant.  And for the most part this is fine; we can be great media planners and campaign managers, even if we don’t do a lot of advertising ourselves. However, when it comes to social media, I believe we have to lead by example.

If you are reading this, you may know that I blog, twitter, slideshare, facebook, link in, stumble, digg and tag things that are delicious.  Yes, it takes time, but I enjoy it. But above all, I do it because it creates value for my personal and agency brands. Through my investment in social media, I’ve expanded our network of partners, booked speaking opportunities, built awareness for our brand and generated several new client opportunities.

Social media can be a great platform for most businesses.  But as a professional services firm, social media offers some additional benefits that one could argue make it a killer app for marketing purposes.  In my world, the #1 benefit of social media is that it provides a platform for demonstrating thought leadership.

It’s important to remember that social media is a platform, not a message.  While awareness and visibility are great benefits of social media, they don’t build your brand.  You can get great visibility with a flurry of self-promoting posts and annoying solicitations for your services, but you aren’t building credibility.  You can use social media to connect with business acquaintances, recruit employees and show the world that you are a forward-thinking firm, but it probably won’t matter to clients. In my opinion, the true value of social media for professional service firms is the ability to demonstrate thought leadership on a large scale that gets even bigger if you have something unique and valuable to say.

Here’s another way to look at it: any firm can hire a web site copy writer to create a compelling message that says who you are, what you do, how you differentiate and why clients choose you.  While this used to be a key factor in engaging visitors, clients do not make decisions based on your home page. Case studies are great but we all know they present an air-brushed image of the results you produced for a client. On the other hand, a blog or tweet stream provides a relatively unfiltered view into how you think and how you act.  If you routinely produce strategic insights, unique perspectives and practical knowledge that are perceived to be of value to your clients, you can establish credibility and thought leadership in their eyes.  Clients hire consultants, agencies, bankers and lawyers because of their people.  Social media enables you to build your brand by showing off your greatest assets in a way that is much more transparent and authentic than it used to be.

In the past we relied on the static html, flash intros, polished copy and powerpoints to educate clients on who we are and how we can help them.  Blogs, Twitter, Facebook, Slideshare, LinkedIn and others now offer us a much more effective and efficient means for demonstrating thought leadership, regardless of your size, budget or location.  It’s not often that those of us in client services can point to a competitive advantage that we enjoy over other types of businesses.  But in a world where clients are seeking knowledge, insight and trusted advice, the social web gives us a unique opportunity to show them what we have to offer.

I’d love to hear from other service providers on this topic.  Comments are welcome!

Steve Latham
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Digital Marketing: Not Recession Proof.

June 3rd, 2009

Since the economy took a nose dive (with the biggest drop starting in October 2008) pundits have debated how it will impact advertising / marketing and the digital marketing sector in particular.  Some in my industry were brazen enough to proclaim we (digital marketers) would not be adversely affected by the recession as media dollars would shift to where to those channels where results and ROI were most apparent. I was hopeful this would play out.  In theory it sounded good! But reality is a different matter.

First, it’s very apparent that digital is not immune to economic downturns. While there are instances where some brands are following through and spending more online (at expense of traditional media), most have scaled back on display and other “advertising” channels, focusing on media that rings the register (e.g. search) and social media.  Generally speaking, when the pie shrinks, everyone’s piece gets smaller. And while some small shifts did take place, they were overshadowed by the rapid deterioration in results from online campaigns. Q4’08 and Q1’09 were tough times for DR-centric online marketers – when consumers stop buying it’s hard to keep your clients happy (even if you are outperforming other media).

We also learned Digital is often at a disadvantage because big advertisers can’t just cancel their contractual media commitments to traditional vendors. The downside to having an on/off button with your media is that when budgets have to be cut, it often represents one of the few areas where spend can immediately be paused. It’s not a good business practice, but by now we know that marketers don’t always do what is best for their brand (job preservation will always prevail over doing what’s right for the company).

However, I’ve always felt this recession would offer a silver lining for interactive and it’s starting to come true. Budget shifts are taking place, and even though it may take 6-12 months for the mix to change, we’ll see a higher allocation to digital in 2-3 years than we would have if not for the downturn. It’s hard to make big changes when things are status quo. One of the benefits of a recession is it forces brands to take drastic action, that is often required to make meaningful change.

This is the thesis behind my article “Silver Lining for Interactive“.  I believe my predictions will hold true and that the near term setbacks are going to be a blessing in the long term.

As always, I would love to hear what other marketers (traditional and digital) think, and how they view the changes that have taken place since 10/08. I hope to hear back from a few of you!

Steve Latham

http://twitter.com/stevelatham

Business Case for Social Media

May 8th, 2009

Social media is hot. Everyone’s doing it and everyone wants it. But how many marketers have figured out how to use social media to build their brand and drive revenue? Unfortunately, not nearly enough. I believe one of the hurdles to pursuing social media as a marketing program is the challenge of creating a compelling business case that frees up the resources (budget) needed to fund it.

I recently spoke to a group of business executives about how companies are using (or planning to use) social media, and how to build a business case for it. In my presentation I also included some new data on how the Inc. 500 is using social media, 5 reasons to pursue it, and a methodology for measuring ROI.

You can view the presentation below or find it at slideshare (note: sorry for some of the formatting issues caused by slideshare conversion).

I hope it’s helpful and that you’ll provide some feedback for improving it. And if you have any good data points to support the case, please send them my way!

For more info you can use, view our blog. And for updates follow me on Twitter!

A GREAT time for Display Advertising! (?)

March 18th, 2009

With everyone professing the virtues of Search, I’d like to take a different view (as is my nature) and go on record stating that now is a GREAT time for cpm-based Display advertising. Why am I going against the grain on this one?  Since you asked, I’ll tell you.  But before I make my case, let me state that as an agency we have no bias towards any one type of media.  We always recommend paid search before display advertising.  But if you are suffering from a contraction in daily searches for your brand or products (as we are seeing across the board since 10/08), you probably need more reach, engagement, leads or sales.  So here’s something to think about.

First, this recession has forced advertisers to scale back on all forms of advertising and it’s widely reported that display advertising (banners, rich media) has been hit much harder than search, leaving a lot of unsold inventory.

Second, while Cost Per Action (CPA) deals are still competitive (maybe even more so today given the increasing focus on accountability) there is a lot of unsold inventory that is price on Cost Per Thousand Impressions (CPM).  Consequently, it has created a big opportunity to buy cpm media at much lower rates than in the past.  This has also been documented in recent months by many sources.  The price of display media is faling faster than the bubble teams in the NCAA.

Third, the drop in demand for display ads allows those who are advertising to have a much larger share of voice, and receive much more attention than in the past.  I don’t have any stats to back this up, but it stands to reason.  If you are the ONLY bank or car maker advertising, you have a pretty good chance of delivering your message now that there is much less competition and clutter.

Fourth, display media is cheaper and you now get greater visibility with your ads, you should see better performance.  It may not translate into immediate leads or sales (remember we’re still in a dark and scary place) but those who are in the market today and tomorrow are more likely to be influenced by your ads.  And that is the reason you advertise.

So if you are maximizing ROI from search and need more reach to make your numbers, look at display advertising.  P.S. – if you add display on top of search you’ll see a 20-30% improvement in conversion rates from Search.  So make sure you account for that when you are doing your display media planning.

Comments…. Questions….?  To quote the beloved Kramer (Seinfeld, not Mad Money) “Am I crazy or am I so sane that I just blew your mind?”

Online S&M (Strategy and Metrics)

February 8th, 2009

Last week I had the pleasure of speaking at the Online Marketing Summit’s annual conference in San  Diego.  In my presentation Online S&M (Strategy and Metrics) I focused on 3 things:

1. The need for an integrated, strategic plan (one-off efforts often fail)
2. A foundational approach to Interactive in troubling times (focus on tactics with highest ROI including site usability, analytics, search and email)
3. How to measure and assess performance (results, ROI). This includes a new approach to measuring your results against the Google index for your search terms (must read!).

While there were no standing O’s and cell phone waving, I received some great feedback and was quoted in B to B magazine.  If you couldn’t make OMS, or if you missed my presentation you can find it on Slideshare.

Feel free to share with others.  And please comment below!