Five Performance Marketing Trends to Watch - Jon Myers, Marin Software
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Change is the only constant in the performance marketing industry and when competition is breathing down your neck, it is never a bad thing to take a quick look around the corner. In this session Marin Software’s Jon Myers will take a look at five of the next big changes set to take the industry by storm, including shake-ups to how search and display will be targeted, the effects of increased social and mobile use, and how the offline world will optimise the offline world- as well as tips on how to futureproof your business in advance.
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Five Performance Marketing Trends to Watch - Jon Myers, Marin Software
- 1. 5 Trends to Watch in Performance Marketing Jon Myers VP & Managing Director - EMEA @JonDMyers
- 2. Performance Marketing: Looking back over 20 years October, 2014 @JonDMyers
- 3. The history of performance marketing 1993 - 1998 @JonDMyers
- 4. 2000: A performance marketing behemoth was born @JonDMyers
- 5. Google.com: 1999 NO RECORDED REVENUE FOR 1999 @JonDMyers
- 6. The history of performance marketing 2000 - 2007 @JonDMyers
- 7. Google.com: 2007 2007 REVENUE = $17.5BN @JonDMyers
- 8. The history of performance marketing 2007 - 2013 @JonDMyers
- 9. Google.com: 2014 2013 REVENUE = $57.8BN @JonDMyers
- 10. Performance Marketing Trends: 1) Search is learning from display October, 2014 @JonDMyers
- 11. Search is online advertising’s biggest channel… …BUT IT’S STILL LEARNING FROM OTHER CHANNELS @JonDMyers
- 12. Search has traditionally been focused on keywords Keyword Portfolio Cost related Return related 3 1 2 4 5 6 high high
- 13. Audiences are the new keywords
- 14. Audience activation in RLSA: “Credit Card” Audience Search Ad Copy Bid • High HHI • Affluent Cluster • Senior Mgmt Existing Customer Top Rewards Card Perks Low Rate Double Miles No Messing Negative bid boost: - 100% • Student • Frequent Traveler
- 15. Adjust bids based on audience data 12% uplift in generic query CTRs for Motor Insurance vs. standard campaigns 7% reduction in CPCs across Motor Insurance vs. standard campaigns 14% uplift in margin across the Insurance vertical
- 16. Adjust messaging based on audience data Non-Member Member 16
- 17. Performance Marketing Trends: 2) Display is learning from search October, 2014 @JonDMyers
- 18. Display took search’s biddable model
- 19. Now display is taking search intent
- 21. Performance Marketing Trends: 3) Search and social work together October, 2014 @JonDMyers
- 22. The buyer’s journey is highly fragmented 47% of revenue comes from purchases made in more than one day (Google) 65% of revenue comes from purchases made in more than one step (Google) Search engines and social networks are the top two sources used to research and inspire purchase decisions (eMarketer) Sources: Brand Perfect, “Adventures in Retail”, November 9 2012 and http://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html
- 23. Search and social have become our go-to channels Rapid and Continuous Growth Consumer Usage is Omnipresent Marketers Are Embracing 23 50% of Total Media Budgets 50% of Marketers Will Increase 6 Billion Google Searches / Day 1 Billion Daily Facebook Users Google / Facebook = #1 / #2 for ROI 75% See as Critical for Cross-Channel Sources: RBC Capital Markets and Advertising Age, “Facebook, Inc.” September 12, 2013, and http://news.magnaglobal.com/ipgmediabrands/press-releases/magna-global-advertising-forecast-2014-ipg-mediabrands.htm
- 24. Looking at search and social separately doesn’t tell the full story Social is more likely to “assist” sales made in other channels For every Social click resulting in a purchase, there are two clicks assisting another converting channel Source: Google http://www.thinkwithgoogle.com/tools/customer-journey-to-online-purchase.html
- 25. Social advertising drives better search performance Consumers Are 2.8x More Likely to Search for Your Brand If they’ve been exposed your Social ad Brands Experience a 11% Lift in Brand Searches If they’re also running FB ads Brands Experience a 50% Increase in Search CTR When their target audience is also exposed to Social ad 44% of Marketers Have Seen Search Performance Improve Following launch of a Social campaign 25
- 26. Customers who touch both channels are more valuable Google / Bing Click + Facebook Click Search Touches + Social Touches = Better Performance • 2X higher conversion rate, 2X higher revenue / click than Search only • 4.5X higher conversion rate, 4X higher revenue / click than Social only Focus on Acquiring Customers Across Channels • Focusing on a single channel ignores the customers’ path to conversion • Focusing on a single channel limits the potential results you can achieve Facebook Click Only Google /Bing Click Only 3.56% CR $3.16 RPC 1.88% CR $1.56 RPC .76% CR $.77 RPC Source: Marin Software’s Combining the Power of Search and Social for Exponential ROI report
- 27. Is search and social campaign integration worth it? Search Revenue per Click is Higher When Managed with Social o + 36% higher than Search campaigns managed independently Search Revenue per Conversion is Higher When Managed with Social o + 68% higher than Search campaigns managed independently Source: Marin Software’s Combining the Power of Search and Social for Exponential ROI report
- 28. Performance Marketing Trends: 4) “Cross-channel” is about the consumer, not the channel October, 2014 @JonDMyers
- 29. Journey to conversion is about the consumer
- 30. How well do you understand your consumer? One to One Relationship
- 32. Mr. CMO – Tear down those walls
- 33. Performance Marketing Trends: 5) Programmatic is moving towards transparency October, 2014 @JonDMyers
- 34. Mr. CMO – Tear Down Those Walls
- 35. You need to gain transparency & control from programmatic display Transparent bid calculations Second-party data visibility Full view of media costs
- 36. Performance Marketing in the Future: What other media could become programmatic? October, 2014 @JonDMyers
- 37. Could television ads go programmatic? @JonDMyers
- 38. Could radio ads go programmatic? @JonDMyers
- 39. Could outdoor go programmatic? @JonDMyers
- 41. Thanks! Jon Myers VP & Managing Director - EMEA @JonDMyers
Notes de l'éditeur
- Add a twiiter prong
- Bid Boosts for customers in-flight, remove customers Relevant Landing Page for Searchers put them in the process
- Search Remarketing Performance-driven audience activation across search, social and display Audience Connect empowers advertisers not only to gain valuable insight by audience by also provides a variety of activation channels. Advertisers can see which audiences are performing best then build comparable look-alike audiences to acquire new potential customers across display and social networks. Tight integration with Google RLSA enable advertisers to separate return visitors into different segments and apply different bidding or creative.
- Search Remarketing Performance-driven audience activation across search, social and display Audience Connect empowers advertisers not only to gain valuable insight by audience by also provides a variety of activation channels. Advertisers can see which audiences are performing best then build comparable look-alike audiences to acquire new potential customers across display and social networks. Tight integration with Google RLSA enable advertisers to separate return visitors into different segments and apply different bidding or creative.
- Buyer Journey fragmentation So how can we explain some of these numbers, and the differences in how the two channels behavior? Well its easy when you take a step back and consider how a buyer makes a purchase decision today. As buyers, when we set out to make a purchase, we often use 2, 3 maybe even 10 different sources of information over the course of 20-30 days that span across different channels. In fact occurring to Google, more than 65% of revenue comes from purchases that involve multiple touchpoints and 47% of revenue comes from purchases that span across several days. Still, according to eMarketer through all of these different touchpoints along what has become a highly fragmented buyer journey, Search and Social remain the top two most important channels for influencing buying decisions. http://www.exacttarget.com/blog/20-stats-about-how-social-media-influences-purchasing-decisions/ http://www.marketingcharts.com/wp/direct/global-marketers-still-rate-seo-email-marketing-as-tops-for-roi-28385/attachment/econsultancyadestra-channel-roi-ratings-apr2013/ http://totalaccess.emarketer.com/Chart.aspx?R=130718&dsNav=Ntk:P_Title|research+and+sources|1|,Ro:5,N:405&Adv=1&SearchTitle=1&All=research+sources Its no wonder why, according to emarketer Google and FB are considered the #1 and #2 channels by digital marketers. http://totalaccess.emarketer.com/Chart.aspx?R=145069&dsNav=Ntk:basic|roi|1|,Ro:15,N:500-781&kwredirect=n%2cn%2cn%2cn%2cn%2cn 65% of revenue comes from purchase made in more than one step * Purchases involving 6+ steps have a 30% higher AoV than purchases with one step *
- Search and Social have become our go to channels First lets take a moment to reflect on why these two channels have become so important to us By a show of hands, how many people are managing at least one of these channels today? Keep your hands raised if you’re managing both Well there is a reason why so many of you raised your hands, and why Search and Social have really become our “go to channels” as digital marketers over the past several years. Fastest growing channels in the digital marketing space with Social at 25% YoY and Search at 16% YoY Size of the audience – Literally access to billions of potential customers across the globe Engagement of the audience – Almost 6 billion searches happen in Google every day and 1 billion people use FB once / day. And check newsfeed an average of 14x / day. Also highest CTRs Measurable – very easy to understand and track the performance of your investments. When you consider these things, its easy to see why digital marketers consider Google and Facebook the #1 and #2 most important channels for driving ROI and why almost 50% of marketers plan to increase their budgets for these channels this year.
- Google Picture Still despite tall their similarities and parallels, ample evidence supports that Search and Social behave quite differently when we consider how they are used as channels the customer’s buying journey Google has a great fee resource which I’ve provided a link to below that shows that Social is far more likely to assist other than channels in the conversion path rather than to be the last channel in the path to conversion. In fact, for every Social click occurs that directly contributes to a conversion, there are two more clicks that occur that contribute to another channel. So if you’re managing Social media through a vacuum in isolation, you’re likely undervaluing it as a channel and overvaluing other channels. Furthermore, if you look at the performance of these two channels in isolation, you’re really not seeing the big picture of your performance.
- We have already seen numerous 3rd party studies that demonstrate the synergies between the two channels when they are run in an integrated manner, particularly how Social advertising is helping to drive incremental lift for Paid Search. Marketers are more likely to receive brand searches, a better CTR and a better overall performance when they’re running social advertising. So we really start to see here the ways here your social advertising efforts in particular is assist Search, and help its performance in addition to driving stellar performance on its own.
- And not only do we see evidence that the channels can assist each other in driving incremental lift in interest and engagement with your brand, but when we look at this from a customer perspective, we find that those who engage with a brand both through Social and Search are more valuable to you than if they had just engaged with you through one single channel. Marin recently conducted a study across more than 200 of our Search and Social advertisers and found that audiences who touch both a brand’s Search and Social ads have + 89% higher conversion rate, 367% higher revenue / click than if they had only touched the brand’s Search ad 103% higher conversion rate, 313% higher revenue / click than if they had only touched a brand’s Social ad So in other words, when a customer touches both your Search and Social ads, they are 1.) more likely to buy, and when they do buy they buy more And why might this be – Think about your own experience during a purchase decision. Aren’t you more likely to buy and more confident in your buying decision when you’ve gathered information from multiple sources? – Both from recommendations from those you trust and also from your own research? So if we know that Social and Search help each other to drive incremental performance, and we know that a customer who touches both channels is incrementally more valuable, the question becomes, how can we are marketers target these customers across both channels and measure the performance of these channels in an integrated way?
- Is it worth it? So you may be saying, well managing the two channels together makes sense theoretically, but will it actually improve my performance? In our study we found that there was a massive difference in Search campaign performance for advertisers who manage their campaigns alongside Search. Search campaigns that are managed with Social have a 36% higher Rev / click and a 68% higher Rev / conversion than Search campaigns managed independently.
- Who these people are is fuzzy “It’s our challenge as performance marketers to learn and understand our customers”. We have the tools to do this better than ever before! This is incredible and it’s happening now. 3 Things Knowing Optimization”s” is plural, not one size fits all. Right time, place, price. Complexity is worth it
- But silos remain
- But silos remain
- One of the trends that we’re seeing in the marketplace and increasing in importance with our client base is this movement around transparency. The question though has been what exactly does transparency mean? We’ve seen it go a couple different ways: - One is ownership of data. Ask to see ALL your data and determine how much control you have – all the way down to creative level performance, Individual conversion level insight, Revenue and cost performance, Domain-level reporting and control. You may not necessarily be managing the campaigns or viewing reporting on a day-to-day basis, but with retargeting where daily and even intraday insight can make or break the performance of a campaign, the option to have that data be accessible to you is If leaning on a managed service: Inquire on how are they bidding for media and optimizing campaigns? Is your retargeting partners incentives aligned with the marketer’s incentives. For example, CPC/CPA pricing is common for some managed service providers, but the issue with that is all the display and social inventory is bought on a CPM basis, so there’s an opportunity for arbitrage. And the problem there isn’t about the margins they can make on the arbitrage, but the potential openness to gaming, so for example, running ads on lower quality inventory, or the incentive to turn a blind eye to click fraud. ----- Meeting Notes (8/19/14 17:11) ----- See all your data (screenshot) How are they bidding? (screenshot) Below: Understand cross-channel performance CPM/CPC performance
- Add a twiiter prong