Date post: | 29-Jun-2015 |
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Social Media |
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Measuring the Worth of a “Like”the VALUE of Going Digital in an emerging Market
INTERACTION MOre Than Eyeballs - Respect the strengths
of the platform. 2Start Benchmarking ASAP. don’t wait for a “universal”
Number. WHat you Measure depends on what your brand’s goals are.
3
IF YOU’ll ONLY REMEMBER 3 THINGS:
1 Quality Beyond Quantity. MeasurE “What” and “How”,
Not just “How Many”. People don’t only do One Thing on digital.
Context
Measurement
WHAT We’LL BE COVERING
DifferentiationADVANTAGES OF BROADCASTVERSUS NARROWCAST MEDIA
ContextWhy are we doing this?
A bit about me.
2 years Quantitive Research4 years Qualitative Research and Ratings Analysis1 year User Experience Research and Design2 years Brand Strategy for Digital
A bit about me.My mission has always been about bridging understanding
I’ve seen a number of business owners react to “digital”.
I’ve seen a number of business owners react to “digital”.
BACKGROUND
Will my business go down if I don’t go “digital”?If it will, how?
The quick answer:Not necessarily.But it will be affected IF you aren’t keeping tabs on it.
19.8MInternet Penetration: Nielsen Data often quoted by marketers
The Philippines is specially challenging.
LOCAL CONTEXT
33%
from GOOGLE: ESTIMATED REACH OF INTERNET IN THE PHILIPPINES**Based on reach and usage of google, YOUTUBE, & other Google products
19.8M is approximately 20%
What’s the point of investing in something that reaches only 20% of the population?
To understand the value of digital brand-building, let’s look at a model we’re more used to:
Advertising on TV
Context
Measurement
DifferentiationADVANTAGES OF BROADCASTVERSUS NARROWCAST MEDIA
TV Ad Spend
P Cost of Ad Placement
% Total Audiencewatching during
the timeslot
Cost of ATTENTION=
Brand Awareness
P 500,000 (for 30-seconder)
15% Ratingduring the timeslot
TV Ad Spend
P 500,000 (for 30-seconder)
97M * 15% = P 0.03 / person
TV Ad Spend
P 500,000 (for 30-seconder)
97M * 15% = Cost of ATTENTION
TV Ad Spend
P 500,000 (for 30-seconder)
97M * 15% = Cost ofPROBABLE
ATTENTIONBrand Awareness
TV Ad Spend
REACH
?If I already have maximum reach
with one platform, why invest in
others?
Differentiation“Digital”, for Marketing Objectives
Let’s look at how advertising on TV and advertising on Digital can fall along the spectrum of
Marketing Objectives
The Marketing FunnelAwareness
ActionConsideration
PreferenceLoyalty
TOP OF MIND
Association• Category• Positive attributes
Awareness
TOP OF MIND
Recall!!
Affinity!
Beyond just
Brand Love“You exist.”
“I have a positive impression of you.”
“I remember you.”
“I want to be associated with you.”
BRAND AFFINITY
REACH
?
DifferentiationRole of “Digital”
Even before “digital” came along,what most businesses wanted,as a sign of marketing success,was...
Brand AffinityHow close people (your target market) want to be to you
Imag
e by
Lar
ry W
est
Awareness Consideration Preference Loyalty
BRAND AFFINITY
VS
MARKETING OBJECTIVES
“Digital”
(For example - Social Media)
Awareness Comprehension Approval Relevance
COMMUNICATION OBJECTIVES
BRAND MESSAGE
VS VS
Comprehension+
Positive Impression
(Agreement, Approval, “Like”)
Awareness Comprehension Approval Relevance
COMMUNICATION OBJECTIVES
BRAND MESSAGE
VS VS
*Organic
Relevance+
Personal Association
Something worth having on their wall
ProbableAttention
Brand Awareness
TV Rating
Comprehension+
Positive Impression
(Agreement, Approval, “Like”)
Awareness Comprehension Approval Relevance
COMMUNICATION OBJECTIVES
BRAND MESSAGE
VS VS
*Organic
Relevance+
Personal Association
Something worth having on their wall
ProbableAttention
Brand Awareness
TOTAL INVESTMENT
Number of people who
agreed with / approved of
message
Awareness Comprehension Approval Relevance
COMMUNICATION OBJECTIVES
BRAND MESSAGE
VS VS
*Organic
Number of people your
message was so relevant to that they wanted to let others know
Number of people aware
Cost = Production + Placement
How do you know what digital is worth to you?
Its worth is
for someone to saynot just , but
“I KNOW THAT BRAND.”
HOW MUCH YOU’D PAY
“I like that enough to talk about it to my network.”
Context
Measurement
DifferentiationADVANTAGES OF BROADCASTVERSUS NARROWCAST MEDIA
Ad Payment Models
Google actually sanctions ineffective ads (i.e. higher charge for the same search rank, if you have a lower Quality Score calculation)
Awareness Comprehension Approval RelevanceProbable
ImpressionsPay-per-click Pay-per-
conversionReward effectiveness, not sheer awareness
Not about number who saw it, but value* of their reaction
*“Did it make them click?”
CASE STUDY
OFFICIAL
Or don’t just take my word for it.
MeasurementEffectiveness
Reward effectiveness, not sheer awarenessNot about number who saw it,
but value* of their reaction
Quantitative
An “Absolute” Number
TV Advertising
~Qualitative
Dependent on Strategy
Digital Advertising
What kindRatingsAffinity
ImpressionsFollowers
Engagement RateInteractions
Positive SentimentConversion
Brand personalityValues
Objectives ETHICS
Digital is only trickywhen people consider it asONE PLATFORM.
(Another example of us being mentally familiar with one-way media and advertising.)
It isn’t.It’s a messaging
publishingcurationreadingvideo watchingaudio listeninggaming...
always-on platform
Dependingon how youneed to use it.
There’s no “universal” rating,like we’re used to on TV.Where people are just either tuned in or turned off.
On the internet people could haveseen-but-not-clicked, clicked-but-not-liked, liked-but-not-shared, viewed-then-commented, and all of those would be measurable.
What’s importantis figuring out:What do you want digital to achieve for you, as a business?
INTERACTION MOre Than Eyeballs - Respect the strengths
of the platform. 2Start Benchmarking ASAP. don’t wait for a “universal”
Number. WHat you Measure depends on what your brand’s goals are.
3
Which is why:
1 Quality Beyond Quantity. MeasurE “What” and “How”,
Not just “How Many”. People don’t only do One Thing on digital.
Thank you!medium.com/@yellowicepick