I have earlier talked about Bought Earned Own (BEO) media. It is widely believed that Nokia was amongst the first marketers that started practicing BEO media principle. This presentation is by Arto Joensuu, Head of Digital Marketing at Nokia. The deck focuses on how the conventional sales funnel is no longer relevant in this age, where conversation is the new conversion.
Slide 30 in the deck is of particular interest. The BEO media is seen through a new lens:
- Search engine optimization (SEO) aka Own media
- Search engine marketing (SEM) aka Bought media
- Social media optimization (SMO) aka Earned media
And brands need to optimize within this space.
What I also found interesting is the comparision of “Yesterday’s Search” (Google) with “Today’s Search” (where search engines are just a slice in the pie). I was recently looking to buy a compact car, and I used Facebook & Twitter, in addition to Google, to find more about the car. While Google gave me “information & data”, FB & twitter gave me people’s views about the car. And those PoV were important for me to take a call. These PoV are essentially conversations, and the conversation helps in the conversion.
So is “Conversation is the conversion” the one line requiem for traditional funnel?