concentric circles

The Grand Unified Theory of Marketing(tm) – Digital String Theory

UPDATED:  March 2014

Grand Unified Theory of Marketing by Augustine Fou 2014 Update from Dr Augustine Fou

 

UPDATED:  September 21, 2011

Most people use the term integrated marketing now and it has come to mean loose “integration” or interrelationships between marketing channels, like putting a web address on a TV ad, a QR code on a print ad, etc.

I am adding the following slide called “Unified Marketing – ecosystem of touchpoints” to put forth the concept of unified marketing.  This starts by putting the customer in the “middle” and wrapping their purchase funnel around them. Then we add the 3 concentric circles: 1) on-site, 2) off-site, and 3) third party to represent the types of channels at the disposal of the marketer/advertiser.

Then all tactics can be plotted on this single, unified marketing chart to reveal whether there are any gaps (not enough activity) or redundancies (too much spend).

Unified Marketing – ecosystem of touchpoints

Additional Reading:  Digital is a Philosophy

 

ORIGINAL POST

Just as physicists and mathematicians have been searching for the grand unified theory of the universe, I have been looking for a way to tie together the disparate disciplines of marketing and advertising, a way to correlate metrics from different industries that interrelate with marketing (e.g. market research, Nielsen, etc.), a way to put all past theories in context and perspective (Michael Porter’s Five Forces, Net Promoter, etc.), and a way to explain marketing successes and failures — all in one.

My method is the scientific method – which is simply put doing experiments and making observations that either support or refute hypotheses.

A grand unified theory will also need to be able to take into account phenomena such as social networks, etc. What are the organizing principles of such; what is the value?

Why now?

Using digital tools — such as search volume trends — we can start to correlate marketing spend effectiveness across different forms of media and also different advertising and marketing techniques.  The example below compares eTrade and @Drobo. What is most embarrassing is that eTrade, a well known brand from the first dot-com heyday, spent lots of money creating and airing TV ads which it hoped would go viral. They even paid for Superbowl ads for the last 2 years to promote the “eTrade talking babies” as you see from the 2 spikes in search volume during February of 2008 and 2009.  However, when compared to Drobo (a startup company that developed a very easily upgradeable back up hard drive array), it is shocking to note that Drobo spent NOTHING on advertising and relied entirely on word of mouth and an awesome product. And their search volume is not only larger than eTrade but also sustainably larger despite zero advertising and media cost.  The “totals” even suggest that the volume under the curve of Drobo is 8X (EIGHT TIMES) that of eTrade.

So if you consider that eTrade spent millions of dollars to create the TV ads and even more millions of dollars to air them on TV in order to drive interest, demand, and hopefully new customers, then Drobo can be considered to have gotten the equivalent of 8X more dollars in advertising and media – for FREE using techniques and channels other than TV advertising. So what does that say about the relative value of TV advertising compared to these other, newer techniques?

etrade-drobo-search-volume

godaddy vs megan fox

megan-fox-godaddy-search-volume

Grand Unified Theory of Marketing - Digital String Theory

Grand Unified Theory of Marketing – Digital String Theory

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Thursday, October 29th, 2009 digital strategy No Comments

no, twitter will NOT be the next google

Every year around SXSW, there’s a surge in interest about twitter. This time around people have even gone as far as to proclaim twitter to be “the next google” or “the future of search” etc.  Bullocks!

Here’s why:

1) distant from other social networks – While we are seeing a massive surge in interest and usage of twitter, it is still a long way off from the number of users of other social networks; it will take a long time to get to critical mass; and this is a prerequisite for twitter to assail the established habit of the majority of consumers to “google it.” — Google’s already a verb.

2) no business model – It remains to be seen whether Twitter can come up with a business model to survive for the long haul. Ads with search are proven. Ads on social networks are not. And given the 140-character limit, there’s hardly any space to add ads.

3) lead adopters’ perspective is skewed – Twitter is still mostly lead adopters and techies so far; so the perspectives on its potential may be skewed too positively. As more mainstream users start to use it, we’re likely to see more tweets about nose picking, waking up, making coffee, being bored, etc….  This will quickly make the collective mass of content far less specialized and useful (as it is now).

4) too few friends to matter – Most people have too few friends. Not everyone is a Scott Monty ( @scottmonty ) with nearly 15,000 followers. So while a user’s own circle of friends would be useful for real-time searches like “what restaurant should I go to right now?” the circle is too small to know everything about everything they want to search on. And even if you take it out to a few concentric circles from the original user who asked, that depends on people retweeting your question to their followers and ultimately someone notifying you when the network has arrived at an answer — not likely to happen.

5) topics only interesting to small circle of followers – Most topics tweeted are interesting to only a very small circle of followers, most likely not even to all the followers of a particular person. A great way to see this phenomenon is with twitt(url)y. It measures twitter intensity of a particular story and lists the most tweeted and retweeted stories.  Out of the millions of users and billions of tweets, the top most tweeted stories range in the 100 – 500 tweet range and recently these included March 18 – Apple’s iPhone OS 3.0 preview event; #skittles; and the shutdown of Denver’s Rocky Mountain News.  Most other tweets are simply not important enough to enough people for them to retweet.

6) single purpose apps or social networks go away when other sites come along with more functionality or when big players simply add their functionality to their suite of services.

twitter

twitturly

Am I missing something here, people?  Agree with me or tell me I’m stupid @acfou 🙂

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Wednesday, March 18th, 2009 digital, social networks No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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