The retail holiday season is already in full swing. For many retailers the true indicator of how the season will go starts on Thanksgiving, and Black Friday results come in. The retail research firm ShopperTrak estimated that shoppers spent $11.2 billion at physical stores on Black Friday this year, which represented a 1.8% decline from Black Friday 2011. Still, 90%+ of our clients exceeded their projections for those critical days, which signals that the 2012 holiday season should be a strong one for many retailers. As I was reflecting on how we were able to influence results it really came down to 3 things; Preparation, Agility, and People; The PAP Strategy. These 3 key elements drove the success of the season, and I’m confident that no matter what the external factors are that these 3 factors drive the success or failure of any brand, or agencies during the season.
The promise of Paid, Owned & Earned is that we reduce the paid media budget through the earned reach generated by programming owned. Not only do we deliver the same reach if we had used 100% paid, the earned reach is arguably more valuable. The result is being able to do more with the same overall marketing budget. More mobile, more retention-based marketing, more promotion, more social good, etc.
To live up to the promise, we need to cut through the “hot air” as I declared when I started this series and remake our media planning profession.
We’ve talked about planning and the importance of interest-based insights and how they lead to creative ideas with engagement at the core. The Real Women of Philadelphia is a great case study.
We looked at the science of content influence and sharability in order to assign a value and project earned reach. This drives the content strategy.
And most recently I showed the importance of thinking like a network executive when programming owned.
To complete the Four Part series, I end on how to organize talent based on the principles of insights, content strategy, programming, and distribution (includes paid media).
Organizing for Paid, Owned & Earned
The real-time nature... Read more
The dog days of summer are over: school is back in session, wearing white is no longer an option and primetime kicked-off last week. And now Paid, Owned, & Earned Hot Air is back in session!
As a quick refresher, I set out to cut through the hot air with Paid, Owned, & Earned Media and define how to build a sustainable way to plan.
There are four components to generating Earned Media:
Planning (covered in Part One)
Allocation (covered in Part Two)
This week, Part Three – Distribution – explores how to put content in front of our audience in order to drive the type of engagement that results in sharing. As we know, sharing drives Earned Media.
Who, Where, and What
The first part of Distribution depends on knowing the who, where, and what:
Know who among target audience is most influential and drives others to share. There are three types of audiences:
Igniters: Influential creators on an individual topic or category with an engaged following. Approximately 1% of audiences.
Sharers: Sharers enjoy Liking and Tweeting content for their friends and family to see. It could be content that an Igniter puts out, news source, brand, other consumer, etc. Approximately 9% of audiences.
Watchers:... Read more
Creativing :: An iTunes album sales record, the value of social media sponsorships, and timing ads on Facebook
10 links that point to the future of marketing:
DIGIDAY:DAILY – Twitter Button Can Increase Site Traffic
Some simple proof that all those “Tweet this” and “Share that” buttons are working. Not surprising, just proof.
When Bloggers Don’t Follow the Script, to ConAgra’s Chagrin – NYTimes.com
There’s an interesting footnote in this article about how so many bloggers see their role as truth-seeking journalists, which would definitely make their POV quite different from the average consumer.
Lil Wayne Sets iTunes Sales Record
Remarkable sales for Lil Wayne’s latest album. Most impressive is that the deluxe edition — $4 more than the standard addition — accounted for 95% of digital sales (and 70% of online sales).
Applebee’s Worker Must Choose: Job or Posting to Facebook – KSFO 560
What’s interesting here is how the individual comes of as the rational thinker. While social media policies at companies are needed, companies need to be active in this discussion. Otherwise, it’s looks like they’re simply afraid of social media.
Amazon Testing 7-Eleven Package Pickup Lockers
Very interesting potential partnership between Amazon and 7 eleven. Amazon is apparently trying to either solve a problem regarding delivery expense, or looking for partners to expand it’s physical... Read more
Tags: Facebook, facebook marketing, Paid Media, paidmedia, social marketing, social viewing, socialmedia
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Thanks for the positive feedback to Enough with the Paid, Owned & Earned Hot Air! Let’s Really Figure This Out. As a reminder, here’s how we define Earned Media:
Earned Media is simply an outcome of consumer sharing. If sharing is the driver of Earned Media, what drives sharing? Engagement with compelling content drives sharing.
And there are four components to generating Earned Media:
Planning (covered in Part One)
This week in Part Two we’ll focus on figuring out a budget allocation model for Owned Media. The promise – and a big part of the hot air – is that we can reduce Paid Media budgets over time as a result of Earned Media. I would argue that any decline on the Paid side should be reinvested on the Owned side. Since content is what we use to make the owned channels engaging (recall that engagement drives sharing and sharing generates Earned Media), investing in the Owned side is investing in content creation.
Science Drives Owned Media Allocation
The challenge is to provide a logical, scientific way to allocate dollars to Owned. The science for Paid is age old, tried and true: it’s based on an action (impression served or click) and value of that... Read more