social media work shop deck nov 09 2009
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"Launching New Offerings in a Social World: What to consider when incorporating Social Media in your Go-To-Market Planning!" --How to create a good go-to-market plan? What sound principles of marketing still apply? --When is it appropriate to consider social tools? --How should one incorporate social media vehicles in such plans?TRANSCRIPT
Social Media Forum “Launching New Offerings in a Social World”
Introductions
Anne Merkert
Jeff Thompson
Reena Kapoor
Agenda
Marketing Target Market Messaging & Demand Generation Competition Q&A
Marketing: Same Old, Same Old…
Product Price Place Promotion
Radically empowered consumers – way ahead of marketers!
Only 14% of CMOs globally have been in their jobs for over 3 years!
So What’s different?
“Rather than Product, Place, Price, and Promotion, we ought to be thinking in terms of Experience, Everyplace, Exchange, and Evangelism”
– Brian Fetherstonhaugh, Chairman & CEO of OgilvyOne Worldwide at AdTech 2007
Advice to Marketers
Experience– Do your customer journey
Everywhere– Create an idea that doesn’t start with (just) traditional media
Exchange– Calculate the value of your customer
Evangelism– Bring passion to your brand – “The Big Ideal”
Still have to think about…
Target Market– Who, Where, How
Differentiation– Meaningful, Value, Competitive
Market Development, Distribution, Channel – Stage of Company
Demand Generation– Reach, Frequency, Monetization, ROI
Formulating a Social Strategy
Forrester’s POST Methodology from “Groundswell”– P is People
– O is objectives
– S is Strategy
– T is Technology
And another “S” needs to be considered….
TARGET MARKETS
Target Market Strategy: Overlaps!
Target Market Criteria
• Large, Growing numbers of users? • Willing, able to exchange Value? Monetize-able?
Large & Growing
• Real Need/Want? Anticipated? Articulated?• Desirable User (Social Media) Characteristics? Unmet Need
• Easily, cost-effectively, Reachable?• Via other Users, Influencers, “Amateurs”?• “Share of Attention”
Reachable
• Differentiate? All “E’s”? • Who is Competition? Substitutions good enough?Differentiation
• Resources, Assets to reach, convert, support?• Social Media impact, use & response?
Company Strength
MESSAGING & DEMAND GENERATION
Messaging: still have to think about . . .
Target Audience
Frame of Reference
Point of Difference
Value Proposition
Clearly relevant & appealing
Highly differentiated from competition
Credible
Elastic enough to support product expansion
Simple
Impact of Social Media on Messaging
Messaging is more conversational, less formal
Keeping it simple is even more important
You can research & test with immediate feedback
Marketing is not the only owner of messaging
Social Media Messaging Example
Demand Generation Design
1. Who is the target audience?
2. How do they want to be communicated with?
3. What offers are they expecting?
4. After they respond to the first activity and offer, what happens next?
5. What happens if they don’t respond?
6. How will our activities and offers help qualify prospects?
Target Market Persona
Segment Buyer Persona How does target customer shop for similar solutions?
HR:Training, Employee Communica-tions
HR manager or Internal Communications • Controls Internal
Communications content
• Multi-location employees
• Innovative internal communications program
• Internal content, Webex, GoTo Meeting• HR publications, websites, associations • PR & Employee communications publications, online forums• Webinars, HR conferences• Professional video production
•Corporate or dept budget
Tactics
Integrated Campaign
Awareness Preference Purchase
“Free” Content• PR• Thought leadership• Blogs• Social networking• Syndicate content• Enable UGC
Awareness, Leads, Brand • SEO• SEM• Banner ads
Company Blog and Landing
Pages
Leverage CRM for nurturing
Online events, video contestWoM or “Buzz”
Product Demo
Sign up for free version
Conversion to premium
COMPETITION
Social Media and Competitive Strategy
Key Steps in developing competitive strategy?
Social Media impact?
Social Media create differentiation?
Key Steps in Competitive Strategy
Identify the Competition
Competitive S W O T
Value Proposition Comparison
Expose, Define The “Space” You Will Own
Competitive Positioning
Identify the Competition – Big and Small
Online Video Providersand Hosting ServicesPresentation
Solutions
Web and Audio Conferencing Solutions
Your Solution:Online Multimedia Platform
Map Your Competitive Approach
Complete Competitive
SWOT
Decide what to “own”
Position for Differentiation
• Categories and Companies
• Strengths• Weaknesses• Opportunities• Threats
• Why did you pick this sub-segment to own?
• Why are you better?• Is you message
“echoing” the conversations?
• Competitor weaknesses
• Easy targets (active social media environments)
• Search for “confusion”
Social Media Impact on Competitive Strategy
Faster Feedback
Accelerated Marketing
User Experience as Differentiation
Faster Feedback Many more places to search for
opinions– Facebook, Twitter, Forums, Blogs
(comments)– Google: “company name” + “sucks”
On demand market research – Post questions, immediate feedback– Test ideas, positioning directly with
buyers
Direct view into buyer / competitor interactions
Ability to directly inquire about likes and dislikes
Accelerated Marketing
Ability to quickly change positioning Faster reaction to competitive moves Get a head start on new segments where
“discussion” is light or nonexistent
User Experience as Differentiation
Frequency of interaction with customers increases– Customer experience is expanded!
You can differentiate your company by ensuring positive interactions wherever possible
Lead the discussions (don’t just participate)– Force competitors to follow: “what are you doing about ABC…”
Q&A
THANK YOU!
[email protected] [email protected] [email protected]
Next Event: Leveraging “Crowdsourcing”: NexGen Innovation & Marketing!– NorCal BMA Product Marketing & Management Roundtable– November 19th Thursday, Palo Alto, 8:30-10am– http://norcalbma.org