The first step in developing a successful new media marketing strategy comprised of social media, group buying, mobile, and local is to know what you are talking about. This does not mean becoming an expert in all four areas, but rather getting clarity on what specifically your organization will do with these tools to achieve your marketing goals. This may sound simple, but given the pace of change in the digital landscape this is a significant, crucial exercise.
Social media (Facebook and Twitter), group buying (Groupon), mobile (AdMob), and local (Foursquare) are all emerging digital tools in the marketer's arsenal. But with integration being an important aspect of any profitable campaign, it can be difficult to concisely categorize this promising "fab four."
Here are some examples:
From these examples, it's clear just how blurry the definitions of social, group buying, mobile, and local advertising can be. Given the multiple overlapping evolutions taking place, understanding what you are trying to accomplish and how the specific marketing tool you choose will help you reach these goals is essential for success.
Given the sheer volume of change taking place, a strategy that begins with the biggest opportunity seems smart. According to Forrester Research estimates, social media marketing will be the largest of the emerging media types, reaching more than $3 billion by 2014. So it stands to reason that social is a sound jumping-off point.
In addition to its market estimates, Forrester has also done a good job segmenting the different types of social media into three distinct types: owned, paid, and earned. Knowing what you are talking about with social media means understanding the differences between these three.
Emerging digital media types represent huge opportunities for advertisers, but they are in the early stages. What we all mean by social, group buying, mobile, and local is still getting worked out. Despite the loose definitions, there is good reason for excitement. They are proven to drive highly profitable marketing programs. If you are excited to get started with these advancing digital tools, begin by picking the biggest opportunity - social media - then break down the specific techniques you might deploy.
Knowing what you are talking about, what you want to say, and how you want to say it before you start the conversation will avoid the emerging media tower of Babel. In the end, the fab four's ability to drive revenue and deliver results makes social, group buying, mobile, and local all worth talking about.
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Jonathan was CEO at MediaWhiz until July 2011. He was responsible for guiding strategy and operational execution, including overseeing the integration of the company's suite of marketing services, leading the development of new and unique capabilities, and ensuring the organization delivered better results for its performance marketing clients.
Before joining MediaWhiz, Jonathan was president of Lillian Vernon Corp., where he was responsible for the management of the company and its subsidiaries. Lillian Vernon was sold to a group of investors in July 2006.
Previously, Jonathan was the chief strategy officer of DoubleClick, where he was in charge of setting strategy and overseeing M&A. He began his tenure at DoubleClick as vice president responsible for the company's Internet Advertising Network before being appointed senior vice president of the company's Abacus online division, where he created DoubleClick's data strategy and oversaw development of new online targeting products and services.
Additionally, Jonathan was the executive responsible for developing United Media's original Web businesses (The Dilbert Zone, Snoopy.com, and Comics.com), and was a senior consultant with McKinsey & Co.
March 19, 2014