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The successful marketing mix includes a variety of strategies which are complicated and constantly changing. With the continuing improvement of technology on the web, new marketing skills have become just as integral to a solid marketing mix.
Let’s talk about four growing skills in marketing that really count.
Conversion Rate Optimization
When you can potentially double your revenue without doubling your costs, marketers would all ask, “How?” With conversion rate optimization, you’re optimizing your sales funnel to push more people through to customers. There’s less worry about increasing ad budgets and finding better audiences.
Instead, you spend more energy making sure more people that interact with your business have a positive experience and convert. Plus, you can easily do it yourself. When you can become a profit-making machine, without having to call on resources other than yourself, you’ll become a marketing asset that’ll have the recruiters all over your back. There are tons of case studies out there about businesses seeing dramatic results from optimizing a single call to action.
Social Media Management and Community Management
Social media was all the rage amongst marketers after it first came out, and beating the better judgment of some harsh critics, it’s really evolved and become an important part of the current day’s marketing industry. It’s about customer service, new distribution and even advertising, content strategy, and proactive listening.
Your customers have concerns and you want to hear them. Plus, you want to be able to positively react to those concerned voices and reiterate your business. You also have evangelists and listeners, who’d love to hear what you have to say, if you make it interesting, and if it’s exciting enough, they’ll tell a friend, or ten thousand friends.
Shapeways is a great example of a business doing social media and community management right. With a blog, forum, even live webcasts and attendance to some of the hottest events, they show they know how to communicate and connect with their audience of tens of thousands of co-creators, designers, and engineers.
Search Engine Optimization
The multi-billion dollar search industry led by Google spawned the incredibly complicated industry of search engine optimization. Outside of paid search, where businesses work to increase visibility through ads shown on search results for targeted keywords and where service providers help businesses to increase traffic and sales through strategic bidding, there’s organic search. Google effectively makes no revenue from organic search, but businesses are pouring sizable amounts of their marketing budget into managing search engine optimization.
Search engine optimization (SEO) is a combination of keyword research, link building, content strategy, and relevance. Effectively, it’s about being relevant AND useful; usefulness always having been an important aspect of great business strategy, but only recently has it been more important in SEO after the Panda update.
SEO got sexy when marketers realized how much consistent traffic they could get from top positions for targeted keywords, and how great those conversions were because of users’ firm trust in Google. It seemed like the formula for success was getting your business ranked in the top results in Google. While this is far easier said than done, and while SEO isn’t really the end-all for a business’ marketing strategy, it’s certainly a valuable channel for marketers to explore and very useful if they can effectively capitalize on the opportunity available.
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News broke earlier this week that Google had set aside $500,000 to settle a mysterious Department of Justice investigation of "advertising by certain advertisers," and now a report indicates the badvertisers were "rogue online pharmaceuticals."
The Wall Street Journal quotes unnamed sources in identifying the culprits, with Google and the DOJ refusing to comment on the matter.
The story says search engines can be held liable for advertising profits from illegal activity, referencing a 2007 incident in which Google, Microsoft and Yahoo paid fines totaling $31.5 million for accepting gambling site ads. Google has struggled for years over how to handle drug ads, moving in 2003 to ban ads for sites that sell certain drugs without prescriptions. The WSJ's sources say Google changed its pharmaceutical ads policy again last year after the DOJ began its investigation.
Google Near Deal in Drug Ad Crackdown [The Wall Street Journal via Engadget]
NEW YORK — Few Googlers understand the online advertising business as well as Susan Wojcicki.
After all, she’s been a a key leader on Google’s advertising products for almost a decade. Today, Wojcicki is senior vice president of advertising at Google responsible for the design and engineering of all of Google’s advertising products, including AdWords, AdSense, and DoubleClick.
In a conversation with Wired’s Steven Levy at the Wired Business Conference, Wojcicki touched on a number of topics, from the challenges of creating compelling display advertising to why she chose to make a commitment to stay at Google for the foreseeable future.
Wojcicki’s basic message? There is more work to be done, she said, borrowing a metaphor from the literary world — and teasing her interviewer. Asked by Levy why, with nothing in particular left to prove, she stays on the job, Wojcicki turned the tables. “Why did you write your book?” she asked Levy, a reference to newly-published In the Plex, an inside look at the place Wojcicki works.
“Google is fascinating,” Wojcicki relented, “and the book isn’t finished. I’m creating, living, building, and writing those chapters.”
In an interview with Wired.com prior to her appearance, Wojcicki outlined a few of her goals for Google’s advertising business over the next year.
“Even though search advertising works and we’ve had a lot of success, we think we can innovate a lot in that space,” Wojcicki said. “We’re always thinking about what the perfect ad is. And one of the things we’re realizing is that for certain segments of advertisers, we need different kinds of experiences.”
“So if you’re a retail vendor and you’re selling products, we want to include the pictures and the prices and be able to connect to the feed of your products,” she continued. “If you’re a movie company, we want to show a video in your ad, a trailer.”
Wojcicki described Google’s display ad business as a “very important” component of the company’s overall strategy and said the company is investing heavily in that area. She said the company is also “investing heavily” in contextual and audience targeting, as part of its display ad push.
Addressing another hot topic for Google, Levy asked whether “social” is in Google’s DNA, given the company’s stumbles in the social space, and the ascent of Facebook, which now dominates the social networking market.
Wojcicki didn’t mince words.
“People used to say that advertising wasn’t in Google’s DNA, and that’s obviously not true anymore,” Wojcicki said. “They used to say that display advertising isn’t in Google’s DNA, and that’s not true any more.”
Clearly, though, Google has yet to find a formula for social commensurate with its astonishing success in the online advertising market.
Full Coverage: Wired Business Conference: Disruptive By Design | 2011
As we reported a month ago, mobile ad network JumpTap has raised a round of new funding. The company confirmed this today, announcing a $25 million financing round from AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, who are not being disclosed. This brings the company’s funding to over $90 million.
JumpTap is one of the largest remaining independent mobile advertising networks, in addition to Millennial Media, 4INFO, InMobi and others (another remaining network Greystripe was just acquired). Jumptap’s data-driven technology promises highly targeted advertising and the company partners with digital and media agencies, publishers, wireless carriers and brand advertisers to serve an array of mobile advertising solutions.
Despite the heated competition in the mobile advertising space, JumpTap appears to be growing, both in terms of reach and employees. JumpTap says its network now reaches 83 million consumers, which is a 30 percent increase from last year. And the network has partnered with more than 10,000 sites and apps; received over 10 billion ad requests in April, and has over a dozen patents related to mobile ad technologies.
The company added 35 employees since the beginning of 2011 from companies including Apple, IAC, Time Inc, and Maxus. JumpTap also recently landed a deal with Tokyo-based cyber communications (cci).
George Bell, CEO of Jumptap said this in a statement: “Our focus on leading mobile innovation through technology and services underscores our long-term vision and commitment to delivering the best solutions for advertisers and publishers…We are well positioned to capitalize on the momentum in the mobile marketplace and continue to see impressive growth across all measures.”
The company says the new investment will be used towards product and technology development, and to hiring additional staff to support client demand.
As we reported a month ago, mobile ad network JumpTap has raised a round of new funding. The company confirmed this today, announcing a $25 million financing round from AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, who are not being disclosed. This brings the company’s funding to over $90 million.
JumpTap is one of the largest remaining independent mobile advertising networks, in addition to Millennial Media, Greystripe, InMobi and others. Jumptap’s data-driven technology promises highly targeted advertising and the company partners with digital and media agencies, publishers, wireless carriers and brand advertisers to serve an array of mobile advertising solutions.
http://www.benchcraftcompany.biz/advertise-your-business-at-the-golf-course/
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