The Fusion Marketing Bible: Fuse Traditional Media, Social Media, & Digital Media to Maximize Marketingby Lon Safko
Turbocharge your marketing efforts with the powerful FUSE! strategy The Fusion Media Marketing Bible explains how to pinpoint the most effective elements of your traditional marketing efforts and combine them with social media and digital marketing to reach more customers than ever, while spending less money. Packed with case studies from LinkedIn, New Zealand
Turbocharge your marketing efforts with the powerful FUSE! strategy The Fusion Media Marketing Bible explains how to pinpoint the most effective elements of your traditional marketing efforts and combine them with social media and digital marketing to reach more customers than ever, while spending less money. Packed with case studies from LinkedIn, New Zealand World Cup Rugby, Sheetz Convenience Store Restaurants, and other companies that have made fusion marketing work for them, it provides everything you need to drive dramatic increases in traffic and revenues. Praise for the The Fusion Marketing Bible "As many marketers get attached to social media 'tools,' they have forgotten that all marketing is about having conversations and providing real benefits to customers. Lon's techniques will teach you how to 'fuse' traditional media, social media, and digital media to create authentic conversations that build trust, loyalty, and, yes, revenue." -Carmine Gallo, author of the bestselling books The Apple Experience, The Presentation Secrets of Steve Jobs, and The Innovation Secrets of Steve Jobs "Perfect for entrepreneurs looking to better understand the relationship between traditional media and marketing and social media. A very likeable book indeed!" -Dave Kerpen, New York Times bestselling author of Likeable Social Media and Likeable Business "Lon shows us how to make traditional, digital, and social marketing work in concert. He gets us thinking about marketing in 3D." -Erik Qualman, bestselling author of Socialnomics and Digital Leader Includes 21 videos accessible through QR codes
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THE FUSION MARKETING BIBLE
Fuse Traditional Media, Social Media, & Digital Media to Maximize Marketing
By LON SAFKO
The McGraw-Hill Companies, Inc.Copyright © 2013The McGraw-Hill Companies
All rights reserved.
It's Not About the Tools, It's All About Strategy
Start with a Strategy
"I know half my advertising isn't working. I just don't know which half."
Lord Leverhulme, the founder of Lever Brothers (now Unilever)
The soundest strategy you can have is to start with a sound strategy. That may sound silly, but when it comes to social and digital media, most marketing people start with a tool, such as Facebook or Twitter, and try to build a strategy around that tool. Marketing isn't just about the tools, though. You wouldn't assemble your team and say, "We're going to build a strategy exclusively around print ads." You'd make print ads part of your overall strategy. In the same way, Fusion Marketing starts with the development of a successful, integrated, and interconnected strategy using tried-and-true traditional marketing and media, social media, and the latest in digital media.
Don't jump into social media without a plan. One Fortune 500 company I consulted with had more than 19 million friends, all chatting about its products. At first I was impressed, but once the initial excitement about the number wore off, I asked, "So how are you monetizing that?" The people present fell silent, looking like deer in the headlights. They were using a tool, but they didn't have a strategy. If you're not monetizing your friends, your tweets, your e-mail lists, and your blogs, then why are you using social media? Everything you do should be directly related to revenues. If it isn't, stop doing it!
Facebook, Twitter, blogging, and YouTube aren't strategies, they're tools. Having a large number of friends, followers, and readers is great exposure, but you have to do something with those eyes, ears, and credit cards.
Develop a Clear Conversion strategy
Develop a clear, individual, well-defined conversion strategy that will ultimately increase your revenue.
Increasing your likes on Facebook could be a specific conversion strategy. Increasing your followers on Twitter could be another strategy. Building your e-mail list could be another. Getting more conversation and comments on your blog might be one, too. But how do you convert this activity to revenue? That's your next strategy.
Here are some potential objectives and conversion strategies:
Increase my e-commerce.
Gather user-generated content.
Increase web traffic to a specific page.
Build loyalty and peer support.
Drive attendance at events.
Build brand awareness.
Improve customer service.
Reduce tech support.
Increase e-mail subscriptions.
Increase telephone sales.
Here are some of my personal objectives and conversion strategies:
Drive book sales.
Raise sponsorship for PBS television special on social media.
Develop a radio campaign to promote the book.
Increase my number of speaking engagements.
Send direct mail to top 100 speakers' bureaus.
Raise awareness of the book in universities.
Develop free press coverage.
Increase my likes on Facebook.
Increase my activity on LinkedIn.
Drive attendance at my seminars.
Send e-mail blasts with free material.
Increase Twitter followers.
Some of these objectives are generic, while others are more specific. Some are so general as to be only starting points, while others involve better utilizing my tools. Let's look at how I developed my strategies over the past year, when I started with a goal as broad as "drive book sales."
Six Steps to a Successful Conversion Strategy
1. What is your specific objective? Of course your goal is to make money, but how? What segment(s) of your target market will you be focusing on? What specific products or services do you want these people to buy? What is your timetable for success?
2. What is your marketing landscape? The environment in which your business exists will influence your chances of success. Did you want to start a travel agency in 2004, when the Internet was sending most of them into bankruptcy? Not a good idea. Did you want to build spec houses in 2009? Also not the best idea. Do you want to provide health services to seniors in 2015? That's probably a great idea with a healthy economy and lots of retiring baby boomers.
There are seven categories of environmental influences that you must consider:
a. The economy and jobs. Are people spending, and on what? Which sectors are getting hot and which are not?
b. The competition and vendors. Can you get the supplies you need? How tough is the competition? Can you compete?
c. New technology. How can you use it or suffer from it?
d. Government regulations and politics. What new laws will affect your business?
e. The society. Are there social factors that will influence your business, such as confidence in the economy or demographic changes (for example, a growing Hispanic population, an aging population, fewer couples getting married, or later childbirth years)?
f. Health and the environment. Are there health and environmental trends that will affect your business, such as global warming, increased emphasis on sustainability and green awareness, and increased skin cancer and obesity?
g. Your customers. Who are the specific people in your niche? How are they doing? Whom are they buying from and why? How do they feel about your brand?
Each of these categories provides both risks and opportunities. You must analyze your company's strengths and weaknesses carefully in relation to each. Providing healthcare services may be a great idea, but unless you have the funds to create such a business, trying to do so could just bankrupt you. Do your strengths let you overcome the risks and take advantage of the opportunities? Do your weaknesses put you in mortal danger and preclude you from benefiting from the opportunities?
Take your time and do this analysis carefully. Think of it as a minefield. If you miss a mine now, it could blow up later, after you've committed a lot of money to your strategy.
3. What branding strategy will help you stand out from the competition in a positive way for the customers in your target market? To stand out, you must offer value that your competition doesn't, and that is important to your customers. Scope took market share from Listerine by emphasizing that it not only stopped bad breath but left your breath "kissably fresh," an important positive value that Listerine doesn't provide. Often the best strategies are the simplest. Look at your product or service through your customers' eyes: what logical and emotional benefits do they gain from using your product? Promise to sell them the satisfaction that they want, and use product features to prove that you can deliver. Scope promised breath so fresh that your loved one would want to kiss you. That is what people wanted to buy.
4. What tactics can you use to reach your target market with your message in a way that is affordable and effective? Maybe you plan to emphasize print ads, social media, newspaper stories (PR), and video. Each channel must be judged on how many target-market eyeballs it will deliver for the cost. The greater the anticipated ROI (return on investment), the better. If you run an Italian restaurant at one end of a large city like Phoenix, and you spend $30,000 for a newspaper ad in Section A,
Excerpted from THE FUSION MARKETING BIBLE by LON SAFKO. Copyright © 2013 by The McGraw-Hill Companies. Excerpted by permission of The McGraw-Hill Companies, Inc..
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Meet the Author
Lon Safko is the author of the bestselling book The Social Media Bible and the founder of 14 companies. He invented the “first computer to save a human life,” as coined by Steve Jobs at Apple, holds three patents for Three- Dimensional Internet Advertising, and has 18 inventions in the Smithsonian Institution in Washington, D.C.
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