Category Archives: branding

The Digital Marketing Era

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Though faculty still teach the historical aspects of marketing, the standard marketing era instruction must be updated to reflect changes in the corporate world that are now much more fast paced and occur with increasing regularity. Digital marketing affects all of the components of the marketing mix and the integration of digital marketing programs and activities will continue to grow in importance, and contribute to the transformation of marketing practices.

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How to Teach Social Media Marketing Efficiency

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Students of social media marketing must have a solid understanding of integrated marketing communications because a social media campaign is typically part of a larger effort to inform, persuade or remind.  Marketers must also provide evidence that a particular strategy in digital media is more efficient in terms of cost.  These days as digital media become more desirable as part of a communications strategy, they also become more expensive.  The new reality requires marketers to examine the bang for the buck they get from digital over other options.  It is possible that television, cable, radio or outdoor can deliver more impressions with stronger response than an organic social media campaign on Facebook that few people actually see.

That is why professors who teach social media should include traditional media measurement as part of the curriculum.  The definitions for traditional media terms such as reach, frequency and impressions are important for students.  Digital terms such as cost per click and conversion rate show how social media are purchased by companies seeking to reach targets.

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One important method for equating media is cost per thousand (CPM). CPM (M represents 1,000) tells marketers the cost to obtain 1,000 impressions or views of a particular message.  It is calculated as:

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The formula is only part of the picture.  Students must also know how much it costs on a CPM basis to advertise in various forms of media.  For example, compare the traditional media costs to the digital media costs in the two slides below.  A smart marketer would consider traditional as part of a good media mix. As you can see the cable CPM is looking pretty good relative to the internet video CPM.

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Students of social media marketing think that social is the answer to everything.  Though social media may be a good strategy, a smart marketer will evaluate all the potential tools in the box to maximize media efficiency.

 

Live from the One Day Immersion in TV, Cable & Digital Entertainment

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Pace University hosts an annual event for students and faculty called the One Day Immersion. Focused on the entertainment industry the sessions cover topics such as Super Women in Tech, The Best Career Advice and Non Traditional Media Methods. The keynote interview was with Richard Plelper, Chairman and CEO of HBO.  Dean Neil Braun asked a set of compelling questions.

Introduction

Richard Plelper started out in public relations and worked in that field many years.

HBO has 130 million suscribers in  160 countries. Game of Thrones is the brand’s most successful series.  But, it took a leap of faith to sign the show.

Getting to CEO

Good fortune is a happy accident, but following your gut is important. Breathe what you do.

Got in my shitty Honda and went to work in Chris Dodd’s office because of a deep interest in politics. Then started RLP International and convinced Bibi Netanyahu to sign the country Israel as a client to create a documentary on the challenges of the time.

HBO Value Proposition

We are about great story tellers. Hitting lightning twice with Sex in the City and Sopranos was luck. And, we played to stay there by listening like insurgents and finding the next great thing.  So when Lena Dunham and David Benioff came in…we signed them.

HBO is in the brand business, not the CPM business.  Great shows do it and I want to build addicts. The key is to focus on what elevates our brand and builds addicts across shows across demographics with great programming.

Data analytics is used to market to the 15 million undecideds out there in the US.

We created a stand alone internet service to give viewers access whenever they want. You can get us how you want to get us.  Apple provides access on their distribution and partner with them.

You have our whole oevre available on HBO Go and watch previous shows.

HBO is International

HBO’s brand is known globally.  It’s a revenue opportunity with great growth. Latin America, Asia and Eastern Europe demand indigonous programming and those shows do better than HBO traditional shows.

HBO Culture

Our culture is key. You need honest conversations where people are able to criticize those at the top. You must demonstrate that is true. For example, the decision to invade Iraq. How about Blackberry. What happened to their share? Someone only believed rich people would use them. Check me – don’t rush to a decision. Why do people have to be right instead of doing it right? It takes time. People need an environment to think together.

Social Media & Mobile Trends

Here are some of the trends I discuss in my Social Media & Mobile Marketing Strategy course in the Media Storm Master’s Program.

The videos are available on my YouTube channel Rpriluck.

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These trends and videos are also available on the Powerpoint slides that accompany my book from Oxford University Press “Social Media & Mobile Marketing Strategy.”

Mobile & Samples in Hong Kong

In the world of food retailing marketers like Costco have found that samples can boost sales. Some products have seen increases of 2000% according to an Atlantic report by Joe Pinsker in 2014. Sampling in stores is effective because the product is available immediately from the display and customers can make the decision to purchase right away. 

What happens when companies give out samples on the street? This is a popular strategy exhibited in my neighborhood in Manhattan where there is a lot of foot traffic.  Usually the company reps simply hand out the samples without any knowledge of the recipients or any follow up. Strong marketing is built on the notion of knowing your target and building relationships. Handing out samples to an anonymous group limits the ability of a company to track the result. These days analytics are a requirement for any strategy, so why should companies rely on blind faith for their expensive sampling efforts? 

One option that seems to work well in Hong Kong is to give samples only to those who provide follow up information. This is now very easy to do with mobile. In these photos reps of BioEssence are giving products to those who log their email addresses so that the company can reach them later. Not only that, but the added step means that only motivated interested customers will take the time to participate. 

Sha Tin
   

New Book: Social Media & Mobile Marketing Strategy

Coming in August 2016: Social Media & Mobile Marketing Strategy from Oxford University Press by Dr. Randi Priluck

 

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The practice of marketing has changed drastically in the past ten years and represents both challenges and opportunities for those who study the field. We are now firmly in the digital marketing era in which firms conduct business online and communicate with customers through a variety of digital and traditional media.

The new book Social Media & Mobile Marketing Strategies takes our current knowledge of the field and applies the best ideas to the world of social media and mobile marketing. Effective marketing strategies begin by segmenting and targeting markets, researching the environment, and understanding consumer behavior, and that is why this book focuses heavily on planning the strategy prior to execution.

A social media and mobile communications strategy also requires that one establish a strong digital presence on the Web and through online marketing prior to executing any campaign. Therefore, this book emphasizes planning and executing communications strategies, while keeping a clear focus on measuring the outcomes using clearly established goals and metrics. Finally, because there are legal issues involved in many executions, the final chapter reviews the law as it relates to digital marketing.

Learn social media and mobile strategy for your business or teach the topic to students.

Click here for a link to the site and to order your review copy.   Oxford University Press

 

Social Media Voting and Harambe

 

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As a professor of social media and mobile marketing strategy I approach the extremely sad incident at the Cincinnati zoo by listening to the social media outcry. On June 1 I looked at Tweetreach to determine the extent to which certain hashtags on Twitter earned views.This mini snapshot of the response showed that the hashtags associated with Harambe, such as #justiceforHarambe and #ripHarambe earned significantly more attention than the hashtag #isupportmichellegregg. But does this really mean that more people support the notion that the zoo was wrong in its actions? Certainly not. It is important to recognize that the Internet allows anyone to give an opinion on anything so easily that there is little consideration of the issue. There is so little reflection that a misspelling of Cincinnati Zoo (#Cincinattizoo) earned 277,465 impressions on June 1. Another problem with examining the online buzz is that it is really not representative of the response of the population. The only people represented in the buzz are those who chose give their opinions online on certain social media sites. So, the loudest and most active on Twitter tend to be heard and others with opinions who don’t post are not.   Aside from writing a book on Social Media & Mobile Marketing Strategy (Oxford August 2016) I am also a mom who watched the video of the child dragged by the Gorilla. The zoo had no choice but to intervene to save that boy and should have secured that enclosure so that children can’t get inside.   It is a terribly sad incident and one that could have been avoided. So, #justiceforHarambe is likely to continue to earn impressions online.

 

 

 

Social Media Return on Investment (ROI)

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In my latest client meeting my team presented a social media marketing strategy plan to grow a social following. The goal was to position the brand as a thought  leader in the area of fashion and healthy lifestyles. Great.
Note, that for every additional dollar you spend on creating, managing and monitoring social media platforms you increase the necessary revenue you must generate to make it worthwhile.  By scheduling content to appear on multiple sites you are potentially increasing the revenue side, while not adding to the cost side. That sounds like good business.

Should Marketers Use Apps Like Whisper or Yik Yak to Reach Millennials?

 

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Whisper and Yik Yak are social media platforms that allow users to share anonymous posts on mobile and online. The services differ in a few ways. Whisper users post text over images and Yakkers tend to post mostly text.

Yik Yak focuses on a specific geographic region so users see posts only within a 1.5 mile radius of their location, while Whisper tailors people’s feeds based on geographic location. Whisper is bigger with more users, while Yik Yak tends to be more intimate, less commercial and frankly more lewd.

According to Business Insider, Whisper had 20 million monthly users in December 2015, while Yik Yak reported a smaller base of 3.6 million monthly users at the start of 2015. At the end of January 2016 Yik Yak was ranking as the 40-50 most downloaded social media app, while Whisper was ranking 20-30th according to App Annie.

Marketers may be wary of anonymous messaging services, particularly on Yik Yak since there are many objectionable posts using foul language and emphasizing bodily functions. Why might a marketer want his or her brand associated with this?

Click here to read about the three reasons to consider Whisper and Yik Yak.

This post originally appeared on Social Media Week.

Why Skittles Completely Missed the Advertising Mark on This Year’s Super Bowl

Read my post on Social Media Week:

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This year’s Super Bowl cost advertisers about $5 million for a thirty second spot. These ads represent a large proportion of some brands’ total media budgets so marketers should carefully consider their value. A brand should determine the ultimate return on investment for this strategy relative to other media options that could potentially buy more frequency for the message across a longer time horizon.

How can a brand manager evaluate the value of a Super Bowl ad?

The first consideration is the target market and brands should determine whether their target is represented among those who watch and pay attention to the game. CNN reported that last year’s Super Bowl had the largest viewership in television history with 114.4 million estimated viewers and 49.7 million in the coveted 18-49 age group.

The National Retail Federation predicted that 83% of men and approximately 70% of women planned to watch the game when they were polled in January 2015. In addition 83% of 18-24 year olds indicated they would watch the game last year. In 2011, the last year of available data from Sports Business Daily, only 16% of the Super Bowl audience was comprised of kids 2-17.

The second important decision on running a Super Bowl ad is the type of creative to plan. The message in the ad should be related to the product and the imagery should resonate with the target audience.

One brand spent over $5 million on the ad space and much more to hire a celebrity endorser who was completely inappropriate for the brand advertised. Which brand executed this major flop? Skittles.

To continue reading click on this link:

Why Skittles Missed the Super Bowl Mark