Marketing Opportunities in a Down Economy - Gangplank Brownbag Series - Mike Corak of Off Madison Ave Presenting
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Presentation highlighting opportunities to cut costs and improve marketing return in a down economy. Here's where I crowd sourced my topic (choose your own presentation from the 3) gp.offmadisonave.net
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Marketing Opportunities in a Down Economy - Gangplank Brownbag Series - Mike Corak of Off Madison Ave Presenting
- 1. 3/25/2009 Off Madison Ave March 25, 2009 2 1
- 2. 3/25/2009 3 It takes more than just good ideas… 4 Opportunity 1 – Review Budget Allocation 90% Traditional - 10%Online At Least 20% Online (growing) 2
- 3. 3/25/2009 5 Opportunity 2 – Prioritize Expenditures • Rank activities based on likely ROI – Maximize exposure for most likely pay-offs first • Search, email, relationship building – Ask questions: • Will this new “x” move the results needle further than smarter tactical execution? • Is data available to prove demand? • What can be done effectively in house? 6 Opportunity 3 – Reduce Reliance on Paid Media • Make your budget work as hard as possible for as long as possible – Allocate budget to create assets that will last beyond the campaign • SEO, landing pages, microsites, relationships – Make sure the media you do purchase is highly targeted and converts • Landing pages, rich media 3
- 4. 3/25/2009 7 Opportunity 4 – Audience Understanding • Relevant communication converts best • Explore your client’s customer knowledge: – Why have they converted in the past? – What do they want? What are they saying? – Behavior trends? • Questions remain? – Survey, mine databases 8 Listen To The Target Audiences Social communications findings are tremendously helpful, but what about search data? 4
- 5. 3/25/2009 9 Opportunity 5 – True Marketing Integration • Create consistent experiences across mediums: – Is your client ready to nab interest created? – Does offline creative and messaging match online? – Do calls to action work efficiently together? – Can assets be repurposed across mediums to save $? 10 Opportunity 6 – Test Everything (including offline creative before production) 5
- 6. 3/25/2009 11 Landing Page Testing 12 Email Testing 12 6
- 7. 3/25/2009 13 Opportunity 7 – Lifecycle Marketing • Segment lists and communicate with current and potential customers based on: – Past behavior – Stated interests – Desired communication methods (direct mail, email, mobile, etc) – Loyalty level • Added benefit – costs are often reduced and responses increase 14 Opportunities 8 - x • What are we missing? (added from audience participation) – Agile Web development that allows for easy/swift site changes and testing – Teach clients how to fish (especially with social) 7
- 8. 3/25/2009 15 Predictions for Client Demand (when larger budgets return-within 2 yrs) • Branding and design resurgence – Holding budgets back now • Blurring of disciplines • The expected norm: – Prioritization for ROI – Multi-channel integration – Testing – Cross discipline strategy including direct communication • More agency consulting, less agency “doing” Thanks for your time 8