Marketers, especially the bigger players in a category, should use short tail, category keywords to draw high traffic to their home page. Though conversion rates are likely to be low, these keywords are good for targeting prospects in the start of the digital marketing funnel (Exhibit 18.10).
They should use longer phrases that more specific in nature for targeting visitor and leads who have progressed further down the funnel. Examples of these long tail keywords include “anti-dandruff shampoo”, “marketing analytics for practitioners” and “front-loading low suds washing machines”. They generate lower, but better-targeted search volume that triggers relatively higher conversion rate. They also attract lesser competition.
For affordability reasons, smaller players may choose to target category keywords less frequently than their bigger rivals. Though these keywords are effective in drawing high traffic, the high level of competition makes them relatively expensive.
While fundamental to the success of any product, it is vital for the survival of smaller brands that they remain well-differentiated, that they craft an identity that distinguishes them from their big competitors.
Well-differentiated brands can target their brand specific keywords, i.e. USPs or points of difference. Not only would this incur lower bids, it would also yield better click-through and acquisition rates.
In addition to long tail, brand specific key words, these players may consider targeting competitor keywords especially those associated with market leaders. However, one needs to be mindful of legal implications especially when targeting trademarks such as brand names, as this is illegal in a number of countries.
In Exhibit 18.11 SendGrid’s and GetResponse’s ads appears near the top for the search query “constant contact”, which shows that these companies are targeting their competitor’s keyword in their effort to cannibalize the traffic going to the Constant Contact site, and increase the awareness of their brands.
Targeting competitor’s keyword is expensive because quality scores tend to be low due to lack of relevance and weak landing page quality. Moreover if the competitor tries to pre-empt, as is the case for SendGrid and GetResponse (Exhibit 18.11), it would be difficult to secure the top slot.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
Two-day hands-on coaching on Digital Marketing and Advertising, to train participants in developing and executing effective digital marketing strategies.
Marketing has changed. More so in practical terms, and marketing education is lagging.
The fundamental change lies in the application of analytics and research. Every aspect of the marketing mix can be sensed, tracked and measured.
That does not mean that marketers need to become expert statisticians. We don't need to learn to develop marketing mix models or create perceptual maps. But we should be able to understand and interpret them.
MarketingMind helps. But the real challenge lies in developing expertise in the interpretation and the application of market intelligence.
The Destiny market simulator was developed in response to this challenge. Traversing business years within days, it imparts a concentrated dose of analytics-based strategic marketing experiences.
Like fighter pilots, marketers too can be trained with combat simulators that authentically reflect market realities.
But be careful. There are plenty of toys that masquerade as simulators.
Destiny is unique. It is an authentic FMCG (CPG) market simulator that accurately imitates the way consumers shop, and replicates the reports and information that marketers use at leading consumer marketing firms.
While in a classroom setting you are pitted against others, as an independent learner, you get to play against the computer. Either way you learn to implement effective marketing strategies, develop an understanding of what drives store choice and brand choice, and become proficient in the use of market knowledge and financial data for day-to-day business decisions.