DMO (destination marketing organizations) know they need to be on social and to connect with influencers, but they don’t know what to do, how to do it, and how to measure it. There is fuzziness around how much to pay influencers or whether to just give out free travel, hotel stays, and the like. We released a guide at blitzmetrics.com/esto.
CPM is a good starting point to measure earned media value, since we’re looking at traffic to the properties. However, we need a qualitative measure for relevance and perhaps to sales where quantifiable.
Influencers, who are content marketers with distribution, too, need to create their own material to resonate with their fan base. The management and organization of these influencers is loose, so agencies like Instabrand and others are creating networks to enable the buying and selling of influence.
There is fear of “selling out”, since influencers legally must disclose they are getting paid. But with strong branding, meaning influencers being picky about who they choose, fans won’t be disappointed.
Thank you, Bill Karz, VP of Digital at the LA Tourism and Convention Board, for the invite to the panel!
What are you NOT doing now that you want to do? Where are you spending a lot of time that is not efficient? The summary– you’ll soon be able to do more of the things that you’re NOT doing now because you’ll be spending less time doing inefficient things. The rise of mobile video, complexity in attribution in proving social’s value, and getting smarter at sequential marketing (not just bottom of funnel conversion marketing) are key topics. If you weren’t there, here are a few takeaways that should help you:
Your tedious work is about to get automated away. Because the Facebook ads API is open to everyone, now you can automate anything that is tedious. Would you automatically like to have ads paused if their ROI is low, creatives are burning out, or CPC too high? How about multiplying out new creatives and monitoring performance? There are open source scripts to do this, but you can write your own, too. Not an engineer? Not a huge deal to get someone else to help you. Main thing is that you must write down the “if this, then that” logic.
Get ready for some awesome enhancements to Power Editor and the Ads tool.
Dynamic Product Ads are killer for remarketing. And sometime in the next few months they will be open for audiences beyond remarketing. Meanwhile use MPA (multi-product ads) for everything else. MPA is now called “carousel”, because you can have up to 10 images if you use the API. Normally, you can upload only 5 items in a carousel ad.
App install ads are coming to Instagram in Q3.
The buy button, which is currently for Shopify, will mainly stay with small businesses, since Facebook is not in the shopping cart integration business.
This will allow companies that serve many businesses to distribute costs across their all merchants, baked in as a “one touch button”. Imagine the campaign efficiency possible if you serve a network of dentists, restaurants, attorneys, real estate agents, and the like.
If you like custom audiences, you’ll love what Facebook is doing now. We like to say custom audiences are like butter, since everything is better with butter. Expect that the creation of WCA and lookalikes will be easier. So currently you might create a 1% lookalike audience, a 2% audience minus the 1% audience, 3% audience minus the 2% audience, and so forth. And for remarketing you’d have a 1 day audience, 3 day audience minus the 1 day audience, and so forth. You won’t have to manually deal with these buckets with the API.
“I “like” where things are going with better automation and better audiences. This means we can spend our time defining great audiences and creating super content , rather than micromanaging campaigns. This also allows me to prove ROI on everything. Let’s get this party started!” -Tron Jordheim, CMO of StorageMart
The beauty of microtargeting is that it has high relevance, leading to high CTR, low CPC, and great performance. But when you start to micro-target, the audiences are smaller, meaning that you don’t have scale. But if you have a lot of ads, then in total you can have scale.
“What I’d love to do is to be able to create sequence of ads automatically, think of it as Aweber for ads. That would make my life much easier as I’m doing all this manually right now, and that doesn’t scale” -Emeric Ernoult, Founder and CEO of agoraPulse.
Sequential marketing via the API and more of the “heavy lifting” being done by Facebook means doing more with less for you. It’s no longer “conversion marketing”, which is bottom of funnel poaching of intent, but driving users through stages in “sequential marketing”.
I awoke from a dream and didn’t know where I was. The hotel room looked like any ordinary Hilton, but when I peeled back the curtains, I saw the sprawling, dirty metropolis of Beijing.
And I remembered that I was 13 hours ahead– how far I had come, literally. Jetlagged, disoriented– not like the fantasy George Clooney in “Up In The Air”.
Another time, I’m in Minneapolis in my own bed, but it takes a few moments to wipe away the slumber and realize where I am. Being an entrepreneur is sometimes like a horror film that you don’t know the ending of, nor can publicly admit is scary.
My TravelPro carry-on remembers these cities and experiences, but is forever silent.
The “On This Day” feature of Facebook helps me relish the journey. It gives me balance– low moments when I need a dose of humility and reminders of past success when I need cheering up.
One year ago, you were doing something you probably don’t remember well today. But when reminded, the details come back in full HD.
It’s better than the times you move, pausing to rummage through stuff you hadn’t seen in a while. You cherish these memories and remind yourself to follow up on them.
Are you getting these flashbacks from Facebook more frequently in your newsfeed? Do you wish life was not a slideshow that would only accelerate faster and faster with no pause button.
Here is an organic video from Business Insider, a publisher of broad-ranging content that uses BuzzFeed-like techniques.
Better content and not as far as the linkbaiting spectrum, so a good player to watch to see what social sharing tactics are working.
This video is a listicle (an article that is a list of things), which is the easiest to create.
Take any existing article you have (a top ten list, for example), associate one picture per item, and turn it into a video.
Instead of posting the entire video to Facebook, have the first 20 seconds be native and make the call the action at the end like this:
If you’ve done a good job in making the video super interesting, you’ll get the follow-on click to your site.
Facebook recently changed a video view to be counted as at least 10 seconds, up from just 3 seconds.
So make the video just long enough to be super interesting, but not long enough that the drop-off hurts you.
If you do a good job, you’ll get 25% of viewers to click through.
In this case, Business Insider is using their own url shortener, but you could you link directly or use bit.ly, too.
Look in your video analytics in Facebook insights and compare it with your Google Analytics.
Make sure you have conversion tracking in Facebook and Google enabled so you can see if viewers took further action.
Have remarketing in place (Google and Facebook) so you can show follow-on videos and articles in sequence to these viewers.
Get a FancyHands, Fiverr, or student to do this at $20 a pop to help you assemble your listicles (then turned into a video) and execute this process.
If you have your plumbing in place, then you’ll methodically be able to drive engagement traffic (like this) sequentially to conversion.
Consider what Owen Hemsath, who’s an expert at video marketing on his YouTube channel VideoSpot, and runs thevideospot.net, has to say:
Short-form video content will win over Facebook users who are used to thumbing through their news feed. Ask for a few seconds of their time to earn the click and take advantage of remarketing strategies to engage your viewers long term. Businesses using Facebook video will excel with short-form content. All of our tests show that users want to preview your content before committing to the full post. We’ve found that on Facebook shorter videos with a clear commercial message outperform “content-based” ads promoting the same offer. In other words, if you’re selling something- sell it and do it quickly. The talking head videos may perform well if you’re a clearly established personality but for most brands, that won’t be the case. Give the audience a visually impactful video that leads to your funnel.
In other words, have multiple nurturing steps by delivering content via email, Facebook, and otherwise to an eventual conversion.
Putting on conferences is increasingly harder, so organizers are resorting to trading speaking slots for sponsorship dollars.
The result is that most conferences devolve into pitchfests, where vendors shamelessly sell, like above.
Here is one example of where they reached out and I replied asking for more information:
So my assistants reached out 7 times over the course of 3 months and never got a response:
In fact, each time I’ve replied to WBR folks, they have trouble responding, even though they initiated conversation or called me first.
Here is one of many:
In fact, over the last couple years, they’ve sent me 110 emails and phone calls:
Attendees smell the foul odor and don’t come back the next year, creating increasing pressure to rely on sponsors to make ends meet.
Do you see this happening at the conferences you attend?
“I agree that many are becoming a pitchfest. I think those conferences who limit the numbers of exhibitors do better from an attendee’s point of view. If I wanted to see what people have to sell, I’d go to an exhibition. I go to conferences to learn, network and share what valuable insights that I have myself”
says Facebook Marketing Professional, Jenny Brennan. She continues,
“On the other hand, I think most organizers would argue that they need the revenue – I don’t know what it’s like to be on that side of things so I am unqualified to give an opinion – I just know that for me, it feels sort of slimy to be sold to at events and I avoid the booths as much as I can.”
This problem is only getting worse, since the big networks like Google and Facebook actually have the upper in producing content on how to use their platforms.
Same is true for Adobe Analytics, Marketo, Infusionsoft, and other vendors that are now putting on their own shows.
HootSuite has their HootSuite University and Facebook has Facebook Blueprint– plus Google has their certifications.
There is only going to be more technology, not less of it.
And the inevitable result is that you’ll see increasingly more tool-focused presentations, but less independent speakers.
Back to the original issue, if you’re good (I mean really good) at what you do, you’ll not need to pay to speak at a conference.
They’ll pay your travel expenses and give you a modest speaker’s fee.
I hear Guy Kawasaki gets $50k to speak and Seth Godin is over $100k.
You don’t see these guys or even the smaller guys ever paying– we certainly don’t.
In the last year, I’ve been hit up every week for paid speaking gigs– I turn them all down.
Some conferences have aggressive sales guys that offer “free” passes if you buy a discounted booth.
The booth is supposedly $10,000, but if you get selected (everyone gets selected), then it’s only $2,000.
We have to be picky about what conferences have alignment with our mission so we create joint value– helping young adults get jobs.
Consider your opportunity cost in addition to any hard costs.
Pay to attend a conference to learn, but never pay to speak.
This sales guy cold blasted me 6 times, asking if I was interested in his services.
On his most recent follow up, I decided that I would follow up with him to ask if he could unsubscribe me. Then I set a 7 day boomerang (one of my favorite services) to come back back if he still hadn’t responded.
He didn’t. So I’ve followed up with him to see if he’s been able to stop the spam.
I don’t believe in cold calling for a variety of reasons: you are wasting your time interrupting people who aren’t interested, it makes you look desperate for sales, you’re dumping spam into the ecosystem, and it creates negative word of mouth.
Sales are important- don’t get me wrong- but we must be smarter about it. Be consultative, create value. Make it about them, not you.
Are you building a relationship in your email campaigns, or pointlessly spamming in hopes for a sale?
I charge a premium for consulting.
Clients pay for your years of experience, not how many minutes you spent on an issue.
If you were to compare a jet aircraft versus a Greyhound bus, you might conclude the cross-country trip of 3 days and 2 hours (74 hours) is a great deal for $289.
That’s only $3.91 per hour.
United has this trip for $213 and the trip takes 5 hours and 6 minutes non-stop.
That’s $41.76 per hour, which is 10 times as much.
But unless you really want to see America’s highways and truck stops, I’ll bet you prefer the direct flight.
It’s cheaper, too.
Stephen Curry, NBA MVP this season, made $10,629,213 last year.
Over 82 regular season games (not counting playoffs and not counting endorsement earnings), that’s $129,622 per game.
At 32.7 minutes per game, that’s $3,964 per minute.
If the Warriors hired me for $3,964 per hour– I’d be a heck of a deal, right?
So consider your fee relative to your value, not how much time you spend.
Otherwise, you have an incentive to take longer, so you can charge more.
Secret knowledge hidden in plain sight
Many folks have criticized me for openly sharing digital marketing techniques in blog posts instead of charging.
I’m not Steph Curry– nobody is going to pay $120 to wear a jersey with my name on it.
But I can tell you where the value is comes from knowing which technique to use in their particular situation.
You can buy a toolbox of hammers, pliers and nails for cheap.
But the carpenter is not– and the architect is an order of magnitude more than that.
If you put your techniques on public display, then others can see for themselves if they work.
So ironically, the more you share your knowledge (assuming it’s provably good), the more you’re worth.
The blueprint is something you design for a client’s unique situation– and they pay you for the know-how, not the cost of the drafting paper.
Emeric Ernoult is a long time “builder”, and shared his thoughts with us:
In today’s crowded and noisy world, there is only one way to make it. It is to stand out because what people see from you is unique, helpful and insightful. It is to be recognized as an expert in your niche.
It takes an awful lot of time to build, it’s very difficult and not everybody can do it but that’s why those who can will win!
Being a recognized expert requires 4 key component which are all very hard to do:
Strengthen your practicing a lot. You can only become an expert if you are a practitioner (Jon Loomer is a great example for that matter)
Love that thing you want to be known for (you’re gonna do a LOT of it, better love it!)
Make sure you document what you do and learn and share it with others (blog, tweet, go to conferences, don’t keep your learning for yourself)
Be patient. It will take time. But it will pay off, eventually
Back to basketball– if TV cameras didn’t exist, NBA-type salaries wouldn’t be possible.
The biggest audience you could get is however many people could fit in a stadium physically.
Electronic media creates a bigger stage and greater demand.
And likewise, in the digital arena (or whatever you do professionally), the fact that anyone can find and more easily consume your content means that you can more easily extract your true worth.
If you want to take it to the next level, you distill your knowledge into a set of rules that a computer can follow.
That’s called software– and it’s the automation of things that you’d otherwise do manually if you had the time and know-how.
Passive income and SaaS (Software as a Service) models depend upon knowledge built into a recurring revenue model.
The consultant is now replaced by an intelligent tool– self-driving cars, humanless factories, and social media management software.
Have you considered systematizing your knowledge into software or even a franchisable way of operations?
Consider if you could have a thousand Steph Curries running around.
I guess I’d settle for a million George Foreman’s– plenty of royalties there.
So are you charging by the hour or by your expertise?
Are you selling time or selling value?
I hope I don’t see you on Greyhound any time soon.
Preferably in the Admirals Club at a major airport.
If you’ve gotten this far, you probably know I’m explaining another angle of the triangle called CCS (content > checklist > software).
It’s one of the 9 triangles that under-gird all I know– specifically that great content is borne of direct execution and that this execution can be packaged into automatable checklists, which become software.
The content producers are working by the hour in a world that is driving content cost down to zero– the best guys don’t charge, so what is your fee?
The checklist people are smart consultants who use process to scale their agencies and produce machines at low cost– let Big Blue do your marketing, too.
But the winners of the game are the captains of software, since they sell the blueprints to the robot makers for maximum leverage.
A parable for you on how to go from worker bee to the Queen.