November 27, 2009

Tips for online marketing

In this bcg.com July 2009 report titled "The CMOs Dilemma", I read that traditional media outlets – newspapers, magazines, radio, and broadcast television – are losing revenue, readers, listeners, and viewers. I also read that the future of mass marketing and advertising, at least in developed markets, is now just as much in play as the future of the traditional media industry itself. Online search, advertiser microsites, word-of-mouth marketing, social networking, and Twittering all have an important place in the marketing mix.

At a Kalaidos University Forum seminar in Zürich yesterday evening, Mr. Tim Ringel of metapeople, an agency offering online marketing solutions, shared experiences and spoke, for example, about the use of Google AdWords. With Google AdWords, you can advertise a product or service with different keywords, ads, budget and targeting – and monitor the performance of your advertisement(s). Watching the 1½ minute video below, that I came across through this blog posting, I learned that when using Google AdWords, the following things are valuable to keep in mind:
- Be specific about the product or service you offer.
- Include messages that differentiate you from others.
- Make it easy for the customer to buy the product and/or service.




Searching for other online marketing possibilities on the Internet, I came across the following possibilities:

Facebook Advertising
As the interest in Facebook is continuously increasing – which you can, for example, see on Google Trends – Facebook is becoming an increasingly important tool for advertisers. Relevant to mention in this regard is that, compared to many other sites, Facebook has relatively many data about users which makes it easier to target the right potential customers for various products and services. Via this posting, I came across a research report by Borrell Associates. What I find interesting is, not least, that a projected 74% of Facebook’s total advertisement revenue in 2009 will come from local advertisers.


Advertising on YouTube
To learn more about advertising on YouTube, click here. Also, have a look at this 3½ minute Advertiser’s Guide:




Craigslist
Via this blog posting, I came across this article, where I read that Craigslist began in 1995 as a mailing list with announcements of events of interest to technical people, and as more of them began to subscribe, Craig Newmark encouraged readers to post their own news, archived the messages on a Web page, and tried to make sure all the content was legitimate. In the article, I also noticed that, according to Craig Newmark, craigslist works because people are good.


Twitter
I read in this posting that in the first half of 2009, Dell Outlet earned $1 million in sales from customers who came to the site from Twitter. Also, according to the posting, Dell earned another $1 million from people who clicked from Twitter to Dell Outlet to Dell.com and made a purchase there. I noticed, by the way, that Dell Outlet has more than 1.4 million followers on Twitter. At the time the posting, I refer to above was published, i.e. June 12, 2009, Dell outlet had, according to the article, 624,000 followers. In this article, I read about ad.ly, an in-stream advertising platform that matches top-tier Twitter publishers with top-tier brands. Ad.ly enables Twitter publishers to make money from the content they produce on Twitter by sending one Tweet every day from advertisers that they approve. Another solution is IZEA that works with sponsored conversations. A sponsored conversation is a social media marketing technique in which brands provide financial or material compensation to bloggers in exchange for posting social media content about a product, service or website on their blog.


Reading this report by eMarketer, which I came across through this LinkShareBLOG posting, I learned that social shopping is becoming more important to retailers. According to this study, the Inc. 500, a list of the fastest-growing private U.S. companies compiled annually by Inc. Magazine, recognize the importance of, expand their familiarity with, and increase their usage of social media. On page 66 of the book Online Marketing: a customer-led approach, I learned that classic response models such as AIDA and the Lavidge and Steiner’s Hierarchy of Response, illustrated in figure 1 of this paper, are still relevant communication tools when planning online campaigns to drive traffic through the buying process.
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