The document discusses how social media marketing has led companies to abandon traditional marketing principles. It advocates applying the traditional marketing concepts of targeting awareness, engaging prospects, and building customer loyalty to social media. The document provides examples of both right and wrong ways companies have used social media in relation to these principles. It argues social media requires tailoring the message to channels rather than copying strategies and avoiding "myopia" by viewing it only as a promotion channel rather than a new distribution method for the brand.
Social Media and the Lost Art of Marketing Principles
1. Social Media and the Lost Art of Marketing Principles September 16th, 2009 www.352media.com
2. Social Media and the Lost Art of Marketing Principles Every one seems to be rushing to create ‘social media’ campaigns! But what ever happened to the basic principles of marketing which used to guide messaging and media decisions? Peter VanRysdam is CMO of 352 Media , a full-service interactive marketing firm headquartered in Gainesville, FL. Peter has been with 352 Media since it was founded in 1999, and helped the company quickly grow into a significant player in the Web Design and Development market by landing several of the company’s larger accounts including American Express, Porsche, and Microsoft. Peter manages all aspects of the company’s marketing efforts including everything from SEO and Social to viral campaigns to 352’s own Web site. www.352media.com
5. Social Media and the Lost Art of Marketing Principles 4 P’s of Traditional Marketing (The Marketing Mix) Product - The physical product or service, including packaging, warranty, etc Price - Accounts for profit margins, competitor pricing People - Customer service, appearance, attitude Promotion – Communication and selling through advertising, PR, etc. Place(ment) – Distribution channels, market coverage, logistics www.352media.com
6. Social Media and the Lost Art of Marketing Principles Overview of Traditional Consumer Products Purchase Funnel www.352media.com Courtesy of CMOWerks.com
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8. Target needs clear and precise definition: demographic, geographic.
9. Need to thoroughly understand what motivates the target to fully engage them.www.352media.com Courtesy of CMOWerks.com
12. Third, creating a satisfied, loyal customer and influential to others in your market.www.352media.com Courtesy of CMOWerks.com
13. Social Media and the Lost Art of Marketing Principles 5 P’s Related to Social Marketing Product - Is it engaging and buzzworthy? Price - Value of the product community is now a factor People - The customer is the new medium. Value of a new, happy customer is higher than ever! Promotion – Product itself drives promotion from within the community Place(ment) – Where does the product fit in your life? www.352media.com
14. Social Media and the Lost Art of Marketing Principles The “New” 5 P’s of Social Marketing Source: http://www.fastcompany.com/blog/lon-safko/ten-commandments-social-media/five-p-s-social-media-where-do-you-start Profiles – Individual or groups Propagate – Bios, avatars, linking platforms Progress – Measure results (comments, views, followers, friends, retweets, etc.) and adapt Produce – Fresh, engaging content Participate – Stop talking, start listening www.352media.com
15. Social Media and the Lost Art of Marketing Principles “Participate” done wrong: Bad ratio, low overall considering the market. Last post: June 17th (of this year at least) Really? 30 Tweets since May 2007? Engaging an influencer = good. David Archuleta = bad. Textbook examples of one-sided conversations. www.352media.com
16. Social Media and the Lost Art of Marketing Principles “Participate” done wrong: Another missed customer service opportunity. And another… …and another. www.352media.com
17. Social Media and the Lost Art of Marketing Principles “Participate” done right: Admitting you’re a person, not a company! That’s more like it! Pushing the other channels. Fresh content. Actually responding to comments about the company! www.352media.com
18. Social Media and the Lost Art of Marketing Principles “Participate” done right: Comment from someone with 13k followers at 7:52pm. Reply from SW at 8:57pm. www.352media.com
19. Social Media and the Lost Art of Marketing Principles “Participate” done right: Comment from someone with 50k followers at 11:55am. www.352media.com
20. Social Media and the Lost Art of Marketing Principles “Participate” done right: Omni Hotels respond in under a half an hour His follow-up soon after. www.352media.com
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22. Enable Target Prospect to come back to your site easily.
32. What new channels are available to distribute my brand (not just my product)?
33. Don’t treat the new channels like the old – tailor your message
34. Don’t simply copy social media success stories – help the medium evolvewww.352media.com
35. Social Media and the Lost Art of Marketing Principles Social Media Myopia & Evolving Communication Mediums: Source: http://www.baekdal.com/articles/management/market-of-information/ www.352media.com
47. Social Media and the Lost Art of Marketing Principles Relationship Marketing: Relationship marketingemphasizes customer retention and satisfaction, rather than a dominant focus on point-of-sale transactions. Source: http://en.wikipedia.org/wiki/Relationship_marketing www.352media.com
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49. Proven methods (face to face) shouldn’t be abandoned (until they’re no longer proven)
65. 6% of players clicked through to “buy now,” while another 6% clicked “share”www.352media.com
66. Social Media and the Lost Art of Marketing Principles Purchase Funnel Principles with Online and Social Media www.352media.com Courtesy of CMOWerks.com
67. Social Media and the Lost Art of Marketing Principles In Summary Tried and True Principles for Social Media Target Awareness = Participate Engage/Consider = Avoiding Myopia Customer Loyalty = Relationship www.352media.com
68. Social Media and the Lost Art of Marketing Principles Thank you for your time! Questions? www.352media.com
