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Kati Förster, Lukas Mayrl Media Equivalence Value for Viral Marketing Campaigns General Online Research Vienna, April 2009.

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Presentation on theme: "Kati Förster, Lukas Mayrl Media Equivalence Value for Viral Marketing Campaigns General Online Research Vienna, April 2009."— Presentation transcript:

1 Kati Förster, Lukas Mayrl Media Equivalence Value for Viral Marketing Campaigns General Online Research Vienna, April 2009

2 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Agenda 1.Viral Marketing in Practice and Science 2.Media Equivalence Value for Viral Marketing Campaigns 2.1. Reach 2.2. Conversions 2.3. Creation 3. Implications and Forecast

3 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Agenda 1.Viral Marketing in Practice and Science 2.Media Equivalence Value for Viral Marketing Campaigns 2.1. Reach 2.2. Conversions 2.3. Creation 3. Implications and Forecast

4 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Best Practice Viral Marketing

5 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Relevance within the Marketingmix Source: GfK 2007 Viral Marketing used by more than 25% Alternative advertising as cost-efficient and target group affine complement for traditional advertising Strengths: reaching new target groups, developing media reach Obstacles: lack of experience, lack of measurability of advertising effects The lower the marketing budget, the stronger the tendency towards alternative advertising TV Viral Marketing Word-of-Mouth- Marketing Radio Guerilla Marketing Affiliate Marketing Mobile Marketing Ambient Marketing 29,1 40,6 38,8 28,9 25,3 15,0 27,6 14,5 27,0 40,9 47,4 25,5 33,1 26,6 23,6 26,5 17,3 16,9 14,5 18,5 12,9 16,5 15,5 2007 (n=326) 2005 (n=242) 2003 (n=255)

6 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Use of Viral Marketing Tactics Source: Marketing Sherpa 2006 E-Mail forwarding Tell a friend referral Online Games, Quizzes & Surveys Microsites Offering E-Cards Video Clips Audio Clips Viral Marketing Tactics Used by Experienced B2C Marketers in the US, March 2006 91% 80% 69% 54% 47% 46% 29%

7 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Theoretical Approaches Diffusion of Innovations Characteristics of Innovation Communi- cation Conditions for adoption Internet-/ Mobile- Reference Memetik (Dawkins 2001) Imitation meme works like a virus Long-lasting, fertility, fidelity --„Planting“ of the Meme in consciousness -- Diffusion Research (Rogers 2003) Five steps of decision process Comparative Advantage, Compatibility, Complexity, Provability, Communicability Mass Media and interpersonal communication complementary Classification of adoption groups regarding time -- Model of Personal Communi- cation (E.g. Lazarsfeld, Katz) Two-Step- Flow of Communi- cation --Opinion leader and follower -- Uses-and- Gratification Approach (Katz 1974) -- Information, Entertainment, Communication

8 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Agenda 1.Viral Marketing in Practice and Science 2.Media Equivalence Value for Viral Marketing Campaigns 2.1. Reach 2.2. Conversions 2.3. Creation 3. Implications and Forecast

9 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Media Equivalence Value: Model Seeding Information- consumption MultiplicationConversionCreation Seedinglevel WoM 1 Information- consumption MultiplicationConversionCreation Word of Mouth- Level 1 WoM n MEV 1: Reach MEV 2: Conversions MEV 3: Creation

10 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Media Equivalence Value: Example  Viral campaign for Austrian Tourism  60 sec video with humorous content  Linked to Microsite with Newsletter Registration Form  Goals: 10.000 visits and 1.000 newsletter registrations (with completed profiles)  Seeding: Trigger emails, video platforms and communities

11 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach ConversionsCreationReach + + MEV = Quantitative key performance indicators: Number of total contacts Multiplication factor Speed of viral effects Time Total Contacts Tipping Point

12 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach ConversionsCreationReach + + MEV = Advertising formMetricsCosts Online Ads (Skyscraper, Pop-ups, etc.) Unique VisitorsCPM Video AdsUnique ViewsFixed placements for booking period incl. guaranteed visits Newsletter-campaignsNumber of recipients and characteristics CPM

13 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach Possibility of ex post and ex ante (forecast) evaluation Consideration of different advertising instruments (Videos, emails, etc.) Multiplicationeffect as KPI ConversionsCreationReach + + MEV = Value of Initial (Seeding) Contacts Value of Contacts through Multiplication + Price Seeding Contacts * Number of Seeding Contacts Weighting Factor * Price (equivalent) Seeding Contacts * (Total Contacts (t) – Seedings Contacts) Time Total Contacts Tipping Point

14 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach Possibility of ex post and ex ante (forecast) evaluation Consideration of different advertising instruments (Videos, emails, etc.) Multiplicationeffect as KPI ConversionsCreationReach + + MEV = Value of Initial (Seeding) Contacts Value of Contacts through Multiplication + p s * C s w m * p s * (b 0 + b 1 * t – C s ) Time Total Contacts Tipping Point

15 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach ConversionsCreationReach + + MEV = Value of Initial (Seeding) Contacts Value of Contacts through Multiplication + NumberValue (in €)€ Trigger-E-Mail8000,16128,00 Videoplace- ment myvideo.de (payed) 5.2000,673.500,00 Videoplace- ment on 5 video- platforms (gratis) 4.5003.015 Videoplace- ment in 20 communities (gratis) 14093,80 6.736,80

16 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 1: Reach ConversionsCreationReach + + MEV = Value of Initial (Seeding) Contacts Value of Contacts through Multiplication + ContactsNumberValue (in €)€ Video74.1570,67 Microsite12.325 Total86.482 C m (excl. C S )75.84250.814,14 W m : 1,576.221,21 3.664,85 € 82.958,01 €

17 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 2: Conversions Value of Conversion (CpL) Registration with Profile Data Newsletter Registration Information Request/ Download URL- Visit Purchase Level of Conversion Different conversion levels with increasing CpL Product dependent Influence on conversion rate ConversionsCreationReach + + MEV =

18 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 2: Conversions Possibility of ex post and ex ante (forecast) evaluation Consideration of different forms of conversions depending on the desired action (Newsletterregistration, Order etc.) Level of Conversion Rate as KPI Ex postEx ante/ Forecast value of a conversion * number of conversions value of a conversion * averaged conversionrate * total contacts ConversionsCreationReach + + MEV =

19 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 2: Conversions Possibility of ex post and ex ante (forecast) evaluation Consideration of different forms of conversions depending on the desired action (Newsletterregistration, Order etc.) Level of Conversion Rate as KPI Ex postEx ante/ Forecast p c * X c p c * c * (b 0 + b 1 * t) ConversionsCreationReach + + MEV =

20 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 2: Conversions Ex post ConversionsCreationReach + + MEV = Value: 8 € (profile with five characteristics: age, gender, email- address, experience with climbing, interest in attending courses) Number of completed profiles: 2.000 value of a conversion * number of conversions = € 16.000

21 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 3: Creation User generated content like comments, posts to comments, self produced videos, blogs, articles Social Media Analysis Reach? Value? ConversionsCreationReach + + MEV =

22 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 3: Creation High importance of user generated content; weighting factor between 1,5 and 8 Consideration of context, but high effort Number of contacts difficult to measure in member communities  lead platforms as minimum criteria value of creation * weighting factor * number of contacts reached by new content ConversionsCreationReach + + MEV =

23 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 3: Creation High importance of user generated content; weighting factor between 1,5 and 8 Consideration of context, but high effort Number of contacts difficult to measure in member communities  lead platforms as minimum criteria p cr * w cr * C cr ConversionsCreationReach + + MEV =

24 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV 3: Creation ConversionsCreationReach + + MEV = Number of Contacts Value of a contact (in €) Weighting factorMEV 3 5.9000,2022.360,00

25 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 MEV: Summary 16.000,002.360,0082.958,01 + + MEV = € 101.318,01 MEV =

26 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Agenda 1.Viral Marketing in Practice and Science 2.Media Equivalence Value for Viral Marketing Campaigns 2.1. Reach 2.2. Conversions 2.3. Creation 3. Implications and Forecast

27 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Conclusion key performance indicators Multiplying factor = Total Contacts/ Seeding Contacts Time until Tipping Point Conversion Ratio = Number of Conversions/ Total Contacts Cost per Lead Number of (and reach within) communities with reproduced content Number of positive comments ConversionsCreationReach + + MEV = Time Total Contacts Tipping Point Methods Site Analytics Search Monitoring Buzz Tracking Evtl. Brand Surveys Site Analytics

28 Media Equivalnce Value for Viral Marketing Campaigns | Kati Förster | Lukas Mayrl | 07.04.2009 Implications and Forecast  Most of the data already tracked  Systematic, standardized and agreed evaluation  Definition of key performance indicators specifically for viral campaigns  Possibility of forecasts based on previous campaigns  Evaluation of return on media investment for viral campaigns  Establish benchmarks  Setting and weighting different goals (reach vs. conversions)

29 Kati Förster, Lukas Mayrl Media Equivalence Value for Viral Marketing Campaigns General Online Research Vienna, April 2009

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