Archive for the ‘Social Media Marketing’ Category

MySpace Buys iLike in Effort to Best Rivals

Saturday, August 22nd, 2009

MySpace is acquiring online music service iLike, as the social-networking site faces a drop-off in visitors and tries to remake itself as a destination for music, videos, games and other entertainment content.

Terms of the deal weren’t disclosed, but a person familiar with the situation said it’s valued at nearly $20 million.

ILike, started by tech industry veterans and brothers Ali and Hadi Partovi, lets users on social-networking sites share music. It was created in 2006 to retool GarageBand.com, which had sought to create an independent music community for recording artists to promote themselves.

Digital Marketing Strategy

Tuesday, June 30th, 2009

Online is just one more marketing & sales channel and should sit under the broader organisational level sales & marketing strategy. Digital marketing does however bring with it some novel tools & extra levers with rapidly evolving ideas about how to best deploy them. Here are a few considerations around the formation of your online marketing strategy:

Segment, Sub-segment & Sub-sub-segment

Segmentation is the key to successful digital marketing. Applying old school mass marketing methodologies will achieve the same old school mixed & fuzzy results.

Install Analytics

Measuring the quantity, quality and source of website traffic is now an essential marketing practice.

Harmonize your Online and Offline Marketing Collateral

Websites should compliment an organization’s off-line marketing collateral. Branding and market positioning should appear consistent across all touch-points.

Website Improvement for Search Engines (SEO)

A website must be picked up by the search engines for the most important keywords around the various market segments which it’s targeting.

Website Improvement for Human Visitors

A website should appear fresh, up-to date, clean and organized. It should load quickly. It should be easy to navigate to anywhere in the site from anywhere in the site. It should positioned as a value driven work horse (not a sugar eating show pony).

Develop skills In-house

Outsource the more complicated aspects of digital marketing to the professionals, but bring the essential skills in-house. Control your own website content, make adjustments to your own online campaign settings, interpret and act upon your own website analytics.

Calculate Your Return on Investment (ROI)

Track and measure everything. Assign all actionable outcomes - not just sales - an internal financial value. By tracing outcomes directly to their campaign sources it’s a simple process to calculate the ROI for each campaign dollar spent.

Think Global

Break away from the idea that marketing gets more expensive the wider the geographic net is cast. Digital Marketing is about whom you’re marketing to, not where you’re marketing into. Physical distance from any point is a meaningless concept in a digital marketplace.

Dedicated Social Media Silos? That’s the Last Thing We Need

Wednesday, June 10th, 2009

Don’t Repeat the Mistakes Direct, Media Planning and Digital Made

You know that social-media department you just built? Go and dismantle it right now, because this stuff is too important to be left to the experts.

Every time an apparently foreign object is identified in adland, it seems the inhabitants split, roughly speaking, into two parties — those who fear the foreign body and those who are excited by it. The excited annex the object and create their own nation around it. The fearful homelanders breathe a sigh of relief and go back to doing whatever it was they were doing — albeit with just a few nagging fears about the ambitions of the fledgling country being built next door.

Before digital media it was media planning; before media, it was direct marketing. And if we want to go back through the history books, we can see that the same happened with TV and even radio. On each occasion, the newbies create their own jargon, their own law-making associations, their own cultures, their own ways of measuring success.

There are, of course, good reasons for separating new and old. There is money to be made for the prospectors and existing business to be defended. By dedicating resources and attention to the new medium, discipline or, in social media’s case, idea, those who work in the field are able to quickly advance it and ensure that it prospers.

The problem, however, is that the new and old states cannot exist successfully without the other, a fact they realize after they have set up separate and often competitive fiefdoms that barely speak the same language.

Direct marketing splintered off, taking important data-driven processes and analytics expertise with it. Yet now, it wrestles with how to reintegrate the creative, emotional thinking it left behind. Media planning’s separation from ad shops erected a wall between the thinking about medium and the thinking about message, which many are still trying to break down today. The rush to online as entirely separate from offline led to mainstream ad shops without the talent needed for today’s digital world and a host of new digital shops that had great tools and talent but were quickly frustrated by only getting to work on one part of the integrated effort.

It’s happening again with social media. Marketers are constructing social-media departments, social-media agencies are popping up everywhere, there are already too many social-media associations to make sense, and there’s an ever-expanding list of social-media measurements and measurement tools. In the last few months, we’ve heard dozens of marketers identify themselves as “wanting” or “doing” a social-media campaign.

This will prove to be the wrong approach — again. Social media isn’t a box to be ticked or a department to be manned or even a campaign to be launched. It’s about thinking differently about marketing, customer service, the entire company. It’s about realizing that consumers are running the biggest recommendation service in the world and that, as has been tiresomely often repeated, they define the brand (no, this is not new; yes, this is becoming more obvious and important by the day). All thinking about product, customers and communications, needs to take this into account — it cannot sit in a silo.

Sure, there are a bunch of new two-way communications tools at marketers’ disposal, and they’re all going to have to learn when to use them and in which combinations. And yes, there are definitely important roles for experts to offer guidance on this. But the social-media experts need to live among the experts in all the other marketing tools rather than in a new nation that adland will spend the next 20 years trying to reintegrate.

Source: AdvertisingAge

News Corp hopes for broader ad deal with Google

Thursday, May 28th, 2009

News Corp hopes to sell Google Inc access to a greater swathe of its media properties, its executives said, as an advertising deal between the two companies comes up for renewal.

Senior executives at News Corp and its MySpace online service said at the All Things Digital conference on Wednesday that the company was working with Google to try and make their existing advertising deal better for both parties.

“When it comes time to negotiate, one of the things that can be helpful is looking at it from the overall News Corp perspective,” News Corp Chief Digital Officer Jonathan Miller said.

The current deal allows Google to run its Internet search ads on MySpace’s widely trafficked social media Web site, but is set to expire in about a year and a half, said MySpace CEO Owen Van Natta, who appeared onstage alongside Miller.

According to recent media reports, Google is seeking to renegotiate the deal at a significant discount to the current terms, which popular IT blog Tech Crunch pegged at $300 million a year.

“That’s an important deal for us, but it certainly isn’t a majority of our revenue,” Van Natta said. News Corps owns a wide range of media properties in television, print and on the Internet. MySpace is the world’s No. 2 social network, behind Facebook.

Source: Reuters

Poll: Few Use Social Media to Guide Purchases

Saturday, May 23rd, 2009

People regard social media as “social” rather than “commercial,” marketers’ eager wishes to the contrary notwithstanding. Knowledge Networks polling released this week finds fewer than 5 percent of social-media users age 13-54 “regularly turn to these sites for guidance on purchase decisions” in a range of common product/service categories.

The figure is a lackluster 4 percent in the “travel or travel services” and “banks or financial services” categories, and a mere 3 percent when it comes to “clothes or shoes,” “eating out or restaurants” and “personal care products.” It’s lower still for “cell/mobile phones and services,” “cars or trucks” and “groceries or food” (each at 2 percent) and lowest of all for “prescription or OTC drugs” (1 percent).

The numbers are more robust when respondents apply the looser standard of whether they “sometimes” use social media for guidance on purchase decisions in these categories. Still, the highest figure is a modest 24 percent for the “travel or travel services” sector, with “clothes or shoes” a percentage point behind.

In light of such numbers, it’s not surprising that just 16 percent of the social-media users surveyed said they’re more inclined to buy brands that advertise on social sites. Then again, most are not hostile to advertising on those venues: 63 percent agreed that the presence of ads is “a fair price to pay” for being able to use social sites.

When the survey (fielded in March) asked users of social media to say what motivates them to engage with such sites, the foremost reason (cited by 54 percent) was “’staying connected’ — to friends and family, as well as meeting new people.”

The growing prominence of social media is reflected in the finding that 34 percent of this survey’s respondents are using the sites and features more often now than they did a year ago. But it’s also the case that some people give social media a try and then lose interest. Thus, 18 percent of respondents said they now use social media less often than they did a year ago.

Source: AdWeek