Online Marketing Wisdom

Yesterday I attended the Online Marketing Summit. The day consisted of 3 parallel conversations on various online marketing topics ranging from blogging, twitter, social media, viral marketing, search engine optimization and web page design.

During the event, I was twittering some interesting quotes/statistics (follow me on twitter). What was really cool was that everyone else who was twittering was using the #oms hash tag, so it was easy to follow the conversation of other attendees…and even meet up with fellow tweeters in person during the breaks.

Here is a summary of my tweets from the day:

• Average twitter user spends nearly 3 hours a day on twitter! How do they get any work done????
• Employee bloggers are 5 times more credible than CEO bloggers.
• Use language of customer in web copy (keep it simple) and “burn the thesaurus.”
• Blog for search not community, dialogue or subscriptions. Greatest value is in getting first time visitors.
• Office Depot boosted paid search revenue 200% by incorporating customer reviews in ad text
• “99% of B2B buying is about covering your butt”
• MarketingSherpa raised conversion rates by 39% by adding offers to their Thank You page (after a sale). The up-sell works nicely in the online world too.
• Nearly half of all businesses (49%) use marketing to get new customers. Next most frequent use of marketing is customer retention.
• 25% of companies have reduced marketing budgets. 25% have not changed their budgets and 50% have reduced marketing spending.
• 60% of people visiting your website are spectators. 37% are critics. 21% creators. The rest are collectors, joiners and inactive.
• 73% of people in the world are online. The United States accounts for 17% of all users, Europe 26% and Asia 40%.
• Someone who comments on your blog is 80% more likely to buy your product or service than a casual browser.

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Innovation and Roller Coasters

Here’s a 1 minute video clip from a speech I gave a year ago in Denmark. It compares the movement of innovation efforts in companies to the movement of old, wooden roller coasters.

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