1. Gary V Take Aways

2. Why Do We Need Metrics?
Finance department looks at marketing as an expense
Marketing department looks at it as an INVESTMENT
Must show a way to attribute success to marketing efforts

3. Attribution Rate
Metrics are needed to measure the effectiveness of an ad choice
Marketers attempt to answer the question “What can we attribute a rise (or decline) in sales to?”
If sales increase after placing an ad on fb, how do you know that fb was the cause? It could be simple word of mouth or customers moving from the DESIRE phase to the ACTION phase

4. Social media advertising is very underpriced right now.
Gary V says that 50 percent of your ad budget should be allocated to social media. Some beg to differ.
Traditional advertisements still work in some cases but they are way overpriced.
Influencer marketing is way underpriced because influencers don’t know how much they are worth yet.

5. To make technology work, you need to understand
BUT…
Using a thousand different technology platforms isn’t the answer because social norms need to be put in place. People have to be trained to use the technology that you are sending marketing messages to. Some technology takes awhile to catch on.
10 years ago, you would never have your 16 year old daughter take Uber but now it is perfectly acceptable.
Online dating
To make technology work, you need to understand
technology as well as consumer behavior.
Mot people are better at one or the other.
If you understand both you are GUCCI!

6. What about tradition?
Traditional advertising is in a transitional period right now.
Declining because of the abilities to skip ads
Some companies are still using old marketing tactics
Some are only measuring engagement instead of conversions.
Some are spending 200k to have a focus group tell them about their commercial. For a fraction of the cost, they can target the exact consumer (based on likes, tweets, page views, purchases, etc.) and track the results to see if it works.
Can also repurpose the content into multiple types of online media.

7. Times, they are a changin’!
To repurpose content in traditional advertising, it is expensive. It is practically free when using social media.
In the past, if you had a good idea, you would start a business around it and hope to sell it to a major company.
Now, you can become a millionaire at a fraction of a cost and outsource a lot of the work.
Many traditional companies are contracting out (outsourcing) their digital marketing to individuals now.

8. Conversion rates matter
“If engagement metrics are all that mattered, I would put babies and puppies on all of my posts.”
People will follow companies who are green, show they care, and produce good products that are proven through Word of Mouth or Buzz Marketing.
Business has been in a push world for years. We now look for other peoples opinions to pull us into the store and seek specific items – thereby ignoring the in store ads and salespeople.

9. Bruno – A case study
The movie had the highest grossing amount of any Wednesday opening movie in history because of social media and traditional advertising hype
It had the worst Thursday of any movie opening after people went to see it and complained.

10. Facebook Marketing Partner
(FMP’s): A group of tech companies and agencies that have been vetted by Facebook and certified for their excellence in helping advertisers get the most from their campaigns
Assist with things like Pixel, video, look alike lists, custom audiences, etc.
7 key areas of assistance: FB pages, ads, stories, inspiration, measurements, advertising goals, marketing

11. Look up marketing mix model (MMM)
How companies quantify the effects of their marketing efforts.

12. Must have a frequency and reach strategy
Need to consider how long to keep running proven videos and when/how to mix in new stuff with it.
This doesn’t need to be a philosophical debate. It needs to be based in doing and testing.
Easy to test social media initiatives because they are more cost effective. .

13. How to brand Don’t be vanilla
Make your content consumable in multiple areas (repurpose your content!)
Do video then transcribe it for audio podcasts and put it on linked in and fb as a podcast.
Take behind the scenes video at your commercials and show it
View strategy-how-to-grow-and-distribute-your-brands-social-media- content/ to see how Gary V gets 31 pieces of content out of one speech!