IMS Day2 – afternoon notes & take-aways

Day 1 morning notes

Day 1 afternoon notes

Day 2 morning notes

Uncovering The Science Behind Viral Marketing with David Skok

• Best business model is low cost of customer acquisition (COCA) and high lifetime value (LTV)
• The viral loop: customer sees your app –> tries it –> decides whether to share –> creates and invitation –> friend receives –> friend decides whether to look
• K = the Viral Coefficient
  • k = # invites x conversion rate x
• [important]Shortening the cycle time has a far bigger effect than changing the Viral coefficient[/important]
• See full presentation here.

The basics of virality

• What is the viral hook – what makes people want to share content?
  • Something very compelling that the user wants to share
  • Something of value
    • Applications
    • Educational content
    • Data
    • Things of monetary value
  • Something entertaining
    • Humor
    • Games
  • News
  • Inherently Viral Services
• Content or Product/Service
  • Has to be a FREE product service, not cheap.  FREE!
• Seeding
  • The bigger your initial seeding the better
  • Paid seeding – there are companies that provide such services
• Spread through Communications Networks
  • Use reshare buttons
  • What you want: low effort for user to share. social, email, etc…
• Refreshing and re-seeding
  • Google Search: paid and organic

Why do people share?

1. High arousal, Positive (awe)
2. High arousal, Negative (anger)
3. Low arousal, de-activating (sadness)

How to Optimize Virality

• Optimize your sales funnel
• Get inside your customers head
  • what are they not doing what you want them to do?
  • figure out what motivates them
  • create a solution that entices them
• Look for ways to get your customers to tell their friends about you
• Hybrid viral = added some virality to your existing content; good not great, but better than nothing

Info at: http://forEntrepreneurs.com

The Future of Mobile Marketing

What is mobile marketing?

• Most intimate device ever invented.  It knows more about you than any other device
• Develop mobile ads for mobile devices
• Information is very actionable, 30% of restaurant searches are done via mobile
• 70% of mobile searches lead to action within one hour
• URL has to go to a mobile landing page (otherwise you burned a prospect – perhaps for life)
• Examples of excellence
  • Kendall Jackson wine – next tag has a QR code, URL and SMS: Offer is a pairing geo located to local tastes
  • Use SMS, QR, Short codes AND URLs – different people use different tools
• Watermarking is the ability to see an invisible bar code

Developments In SEO: What Every Marketer Should Know with Dharmesh Shah

• 46% of daily searches are for products/services
• 70% of links in search are organic  – not paid
• Best thing to do for SEO is create great content

• Goal: increase SEO to reduce your PPC
• Search and social together – social discussions are used to personalize search results (signals of quality)
• Search isn’t competitive game, you need to beat others, ergo your social efforts enhance your visibility (more than your competitors)
• Google+ will likely result higher in search results
• Another value of sharable results is that you can see which of your friends have shared the content (or not) drives higher click thru rate
• Google Panda update removed crap from search results
• If your marketing is broken, don’t automate it. TRANSFORM IT
• Forget b2b and focus on b2h(uman)
• [warning]Call to action: rethink how we market, even the touchier/feelier upgraded marketing[/warning]

Switch: How to Change When Change is Hard with author Dan Heath

[important]Change is hard[/important]

We have two brains
1 – rational conscious deliberate
2- emotional unconscious automatic

• Emotion is like an elephant, the elephant drives us
• There is a rider on the elephant
• For example, a diet is hard because the rider is barely in control of the elephant

3 part framework for change

1- Direct The Rider

• Analyzing problems comes naturally to us, analyzing success doesn’t
• Psychologists say: “Bad is stronger than good”
• Find the bright spots – obsess over success and figure out how to replicate it
• Information can be TBU – true but useless
• Instead, find what’s working today despite the obstacles and do more of that

2 – Motivate The Elephant

• Need to induce acceptance in those we want to accept the change
• We typically start by explaining the change
• Instead, speak to the emotional elephant
• Change comes from feeling

How do you convince colleagues to change?

• Spreadsheets don’t work. Tangible, evidence that people connect to does work
• How we think change works: analyze –> think –> change
• [important]How change actually works: see –> feel –> change[/important]

3 –Shape The Path

• Being specific with instructions significantly increases the likelihood of change
• Ultimate Example: Amazon’s Buy now with 1-click
• Have you 1-clickified what change you want to drive?
• Example: stand up meetings combat long meetings
• At work: remove obstacles and make change easy
• Make “yes” the path of least resistance