Red Bricks Media’s News Blog

June Letter From The CEO

June 9th, 2010

 

Recently I was asked by a European news media group to comment on the success of Sarah Palin in the United States as a marketing brand. Politics aside, you have to admire how fast she has expanded her marketing presence and the value she brings to her followers or in this case, her consumers. When examining the Sarah Palin brand it is clear she has done two things very well in order to create greater success around her name, messaging and overall business. The following points work well for any brand, not just Sarah Palin or politicians.

 

First, Sarah Palin has done an outstanding job of building a virtual community online where she can express her points of view, allow her followers to interact with her brand, and exploit hot topics to her benefit by commenting on current affairs. Over the past year Sarah Palin has built a community of over 150,000 followers on Twitter and over 1.5 million on Facebook. This steady attention to her online community has positioned the Sarah Palin brand front and center on the topics her followers care about and want an outlet for their self expression. She is capitalizing on a consumer passion for a political point of view through her online community.

 

Next, Sarah Palin has successfully extended her online brand into the tangible world of speaking events, book tours and television appearances. Consumers enjoy all the benefits of an online community but they also want to touch the brand or experience it in a way that makes it come alive. Sarah Palin’s non-stop tour of live event promotions fulfills that requirement and has helped accelerate the popularity of her brand among her followers.

 

Again putting aside her politics, the success of the Sarah Palin brand indicates the value of building an online community but it also shows the importance of making sure your brand has some tangible outlet into the world where consumers can “touch and feel it.” Combining these two elements will enhance the value of proposition to consumers.

 

At Red Bricks Media we guide clients through the right digital strategy for their business but we also know that marketing is a 360 degree experience which includes offline communication channels. We are firm believers that digital thinking needs to be integrated within the entire media plan and we help facilitate this integration wherever necessary. We are starting to see more and more examples where the digital strategy leads the overall communication framework for advertisers and Sarah Palin is just one small example of how this can be successful for advertisers.

Bing: One Year Later

June 9th, 2010

 

By Matt Dally, Search Strategist

 

“Search overload is over.” It was one year ago, on June 1, 2009, that Microsoft re-launched its search engine, previously known as Live Search, and bravely declared it a “decision engine” in a $100 million marketing campaign executed by JWT.

 

If the campaign didn’t achieve overnight success, it at least made Bing an overnight celebrity. Everybody wanted to know more about it. People tried it. Clients began asking about their rankings in Microsoft’s search engine. And SEOs, in turn, wanted to know how to optimize for Bing. The question was, would people really stop using Google and turn to Bing?

 

One year later, Bing’s share of searches has crept up from 9% to 13%, according to Nielsen, although this was almost entirely at the expense of Yahoo, whose search algorithm and ads will be replaced by Bing’s by the end of the year, thus giving Microsoft control of another 18% of the market. Rumors persist that Apple will make Bing the default search engine on the iPhone, dumping Google as the mobile war between the two companies intensifies. This would be a huge win for Microsoft, but it’s a hell-freezes-over scenario that has yet to materialize. But the fact that Microsoft has bagged one major deal and may be on the verge of another is a sign of how far Bing has come. Can you imagine anyone ever taking rumors of a Live Search-iPhone deal seriously?

 

Yet despite making progress bit by bit, when you ask the average person about Bing these days, you get a shrug or a “My mom uses it.” There are exceptions. I’ve started using Bing for driving directions, having found Google to be increasingly unreliable since they ditched TeleAtlas and decided to rely on their own data and crowdsourcing for Google Maps. Several of my friends say they like Bing’s Farecast feature for travel planning. But I suspect this is how many people use Bing these days – as an occasional alternative. People just like Google because it works. And people are accustomed to Google’s search results and so view them as the “right” results. When they go to Bing and see sites come up different from what they’re used to, it feels like they’re driving an unfamiliar rental car where all the buttons and switches are in the “wrong” places. And then they go back to Google after their brief Bing vacation.

 

So perhaps it is more notable what Google has done since Bing launched. They’ve moved their search ads closer to the organic results, incorporated more “instant answers” into results, mixed in real-time updates, and added a left sidebar. As I write this article, Google is even giving users the ability to upload a pretty photo as their Google homepage background – all very Bing-esque, but good luck getting Google to admit it has anything to do with that other search engine.

 

For the first time in years, Google has stopped gaining search share and faces serious competition. Google is being forced to innovate at a faster pace. Even if you’re not using Bing, Bing has had a significant impact on your search results. Whether Bing can take market share directly from Google will largely depend on its ability to improve its search results and add compelling new features, and whether or not Yahoo can successfully bring visitors back to its portal.

 

Our bet is that Google keeps its lead, but with a 30% market share forthcoming and new innovations in its pipeline, Bing is something that no search marketer can afford to ignore. Not a bad first year for Microsoft’s reincarnated search engine. Happy birthday, Bing!

Digital Marketing in Hong Kong

June 9th, 2010

 

By Kate Anderson, Associate Account Manager (and Hong Kong transplant)

 

When I first arrived in Hong Kong for a month long rotation in the Red Bricks Media Asia office, I was struck by the newness of many things.  I was amazed by the sheer number and size of Hong Kong shopping malls and it still seems to me as though there is one on every corner – much like the ubiquitous coffee shops of San Francisco.

 

Digital marketing, and particularly digital performance marketing is itself fairly new in Asia.  There has been a substantial reliance on outdoor media and creative campaigns whether in the form of print or email. However, with the expansion of broadband in areas like China, it seems that everything is going digital. 

 

With all this change and innovation, I have taken comfort in the things which remain the same.  I am still surrounded by smart, funny and dedicated people in our Hong Kong office.  Little did we know that my one month sojourn would become a six month Tour de Hong Kong.  Another constant is the reception of companies here to Red Bricks Media’s take on embracing new media.  Much as in the US, social media is the buzz word on everyone’s lips. 

 

In the US, this fixation has been focused primarily on Facebook and Twitter.  However, I have found the landscape in Asia Pacific is much more fractured and in some sense more exhilarating.  Before coming to Asia, I was unfamiliar with Cyworld, Mixi, Sina, or Douban. But much like language is a window into culture, so too are these distinct platforms a gateway into the cultural and political influences of a nation. 

In internet and mobile savvy Japan, ‘new’ happens quickly.  Morgan Stanley recently found that 72% of page views on social networking site Mixi were from mobile devices; mobile contributed just 17% three years ago.  Mobile will also likely play an increasingly large role in China where US social media giants Facebook and Twitter are blocked. 

 

Although some foreign companies have embraced Chinese social media platforms such as Sina microblog (Dell for example), there is the constant knowledge that posts deemed “inappropriate” can be expunged at will.  It will be extremely exciting to see how global companies interact with the social landscape in Asia.  What will be new and different about the way they reach customers and interact?  What elements of their communication must remain the same? 

 

I believe Red Bricks Media is poised to help companies find the answers to these questions and many more.  Working in the Hong Kong office has given me the opportunity to experience many new things – new malls being built, new search engines, new friends and new cuisine.  Just don’t ask me to give up the comfort of a good old American cheeseburger.

Get Ahead of the Curve with Facebook Advertising - 10 Things Every Marketer Should Know

June 9th, 2010

 

By Min Poh, Senior Account Manager

 

As of June 2010 Facebook has over 400 million active users, the average user spending more than 55 minutes on the site per day. Having run many successful Facebook campaigns for our clients, we have provided some quick tips to tweak your campaigns and get your ads up and performing!

 

The Top 10 List

1.    Define Your Goals

As with all advertising campaigns, the first step is deciding what you want to achieve. It is also important to remember that not all goals can be met through this channel. For example, we found Facebook to be less effective for direct sales. The site is however very effective for branding & engagement, building product awareness, lead generation, promoting offers & sweepstakes, and building a community around your brand.

 

2.    Choose the Right Ad Format

In addition to the basic image and text ad format, other ad formats are available through Facebook.  For example, event ads with a RSVP button can be easily created through the ad self-serve ad interface. Video and polling ads are available to larger advertisers as well as for placement on the users’ home page.

 

3.    Leverage the Power of Your Network

Ads on Facebook are social. If someone likes an ad, it will show up on the pages of his or her friends. Facebook also uses this to gauge the effectiveness of the ads served. Get your company involved, have co-workers like your ads or become a fan on Facebook to help spread the word through their networks!

 

4.    Update Your Ads Frequently

Facebook ads are unlike search engine ads.  Depending on the size of your target audience, ads may be served fairly often to each individual. Keeping your ads fresh will help improve click through rates and provide you with another chance to remarket to the user with a different message. We recommend updating ads at least once every 2 weeks. Try a different image and refresh ad copy to see what works.

 

Figure 1: This chart shows click-through-rates over a 2 week period for a Facebook campaign. Click-through-rates are highest immediately following launch but plateau at the end of week 1. 

 

5.    Segment and Target Your Ads

The beauty of Facebook is the ability to target users based on their interests, location, age, gender, education level, workplace, relationship status and language.  Once you know the group you would like to target, segment your campaigns by age group, gender or interest to determine effectiveness. For example, does my product resonate better with males or females? One key point to remember is that ads should be custom to the audience you are reaching. By speaking to the interests of the target audience, we were able to increase click-through-rates by more than 200%.

 

Figure 2: Sample ads targeted at users with golfing or photography as an interest.

 

6.    Report & Analyze – Responder Profiles

Facebook provides the usual reports for ad campaigns (impressions, clicks etc.).  However, what really stands out with Facebook reporting is the responder profiles report. This report shows the top interests, books, movies and TV shows, of people who have clicked on your ads. Interesting information can be gleaned to help shape audience profiles and determine targeting for future campaigns. 

 

7.    Select The Right Landing Page

Landing pages can go to a Facebook product/company page or go off the site to your company’s home page. Select your landing page destination based on your goals. If you are trying to build a community and fan base on Facebook, keep your respondents on the site. Sending respondents to your home page works better if driving direct traffic is a goal.

 

8.    Get Creative with Branding! 

Facebook is an excellent platform for branding and generating product awareness. You can create quizzes, post videos, share images and product information on your company’s page. These features should be complimented with Facebook advertising.

 

9.    Work the Incentives

There is nothing like a contest or giveaway to generate product interest. Papa John’s added 125,000 fans in a day through a combination of Facebook ads and a free pizza offer.

 

10.  Build a Community

Finally, Facebook is also a great place to build a community. The barrier to entry is low since users already have a profile and do not have to register again to join.  You can start your Facebook community by growing your company’s fan base. This can be done through Facebook ads. Think of fans as an enhanced mailing list. Every time an update is made to your company’s status, fans will be notified.  Remember to also continually engage with fans as your community grows. Exchange comments, photos, links. Nobody likes a fan site with little activity!

 

 

Saving the Newspaper Industry—Finding the Right Solution

May 27th, 2010

 

By Kelly Olson, Chief Operations Officer & Chief Financial Officer

 

A number of well established newspapers have steadily been losing subscribers in recent years.  The problem stems from users getting their content, not from newspapers, but from the internet, forcing newspapers to give their content away for free online.  So how can newspapers charge for their content online?  Should they look into getting more subscribers to their online content or should they invest more into better online advertisements?  Can e-readers breathe life back into this dying industry?

 

Find the answers to these questions and more at Red Bricks Media’s latest MediaBizBlogger post:

 

The Brickwire: Charging for Content—The Wrong Answer for Saving the Newspaper Industry

What Can Marketers Learn From Social Games?

May 12th, 2010

 

By Vinnie Ma, Product Guy

 

As of April 2010, more than 83 million of the over 400 million Facebook users fertilized virtual crops and gifted their friends a lost cow or two in the wildly popular social networking game FarmVille.  Zynga, the company behind FarmVille, has been recently valued at 3-4 billion dollars.  Given that the challenges of building a customer base, keeping them actively engaged, and ultimately increasing revenue are not specific to social game makers like Zynga and PlayFish; are there opportunities for marketers to leverage some of the tactics and strategies that have made social gaming so successful?

 

Some people enjoy the cooperative nature of Restaurant City and FarmVille while other players revel in the competitive nature of MafiaWars as they try to build their mafia empire.  Although there is no secret recipe for a fun social game, there are some attributes that consistently show up that contributes to the addictive nature of social games.

 

+      Collections:  Many social games have ancillary goals of accumulating points or collecting different sets of virtual goods as they progress through the game.  All of the people who have checked-in to places through Foursquare to accumulate badges or have purchased a McDonald’s Happy Meal to get that last beanie baby to finish the set understand that there is just something satisfying about completing a collection.  Point systems and loyalty programs have been around for decades, but in the virtual goods world, the rewards are that much easier to administer and have no marginal cost associated with them.  Marketers can incentivize particular actions in their communities by adding badges or point accumulation mechanics.  Reward your top content creators on your Facebook page with a special badge for their wall or offer loyalty points programs to non-employees that contribute to your company’s support forums. 

 

 

+      Scarcity: Closely tied to collections, is controlled scarcity of items.  Certain game related virtual items are intentionally difficult to acquire or limited in number.  In addition to the rarity of an item, another way to add a sense of scarcity is by putting a time limit on a particular offer.  We’ve seen Amazon use this mechanic for their Black Friday specials as door buster deals were rotated throughout the day that are valid for only 3 hours (or until supplies last).  Popular social buying startup Groupon has built a business around offering great deals that are time sensitive and shared through the social web.  Some rich media ad networks offer the capability to have real time availability of data of a limited deal or a countdown clock until the expiration of the deal in the ad unit. 

 

 

+      Feedback:  A mainstay of role playing games, the concept of “leveling-up” or acquiring experience points is a time tested game mechanic that keeps players engaged.  Users play the game to grow their character and to open up different features of a game.   An important element of the level-up mechanic is feedback about the player’s progress throughout the game.  Take a cue from Linked-In and incentivize your users to complete certain actions by implementing a progress bar that reminds them of the next step in the process and shows them how close they are to finishing.   People love completing tasks and friendly reminders about how close they are to checking something off their task list is a great way get people to act.

 

 

+      Luck:  Although it doesn’t apply to everyone, there is something exciting about games of chance.  Many social games have a gambling or a luck aspect to them.  For example, MafiaWars offers players a “mystery box” of items.  Players effectively buy a lottery ticket to see if they get a mundane item or hit the jackpot with a rare item in game time.  Similar to the “mystery box”, marketers can offer a game of chance around a particular promotion where the percentage off ranges from 10%-25%. 

 

 

+      Social: Possibly the most important piece from a growth perspective is the mechanics that drive the social aspect of the games.  Games like Restaurant City allow you to hire your friends to help you run your restaurant while MafiaWars require you to connect with other people in the game before advancing in the game.  In addition to the social mechanics of the game itself, many of these games allow players to “gift” items to their friends as an invitation to play.  With the release of Facebook’s Graph API and Twitter’s @Anywhere framework, it is easier for brands to connect with their users and to make their content sharable with their user’s social networks.  Have a new product launch, an important product update, or a great sale coming up?  Consider using one of these and other content sharing tools to get the word out. 

 

 

Social games are a serious business, and while not all of the tactics implemented by social game makers are new or unique, the success of these game makers remind us that sometimes adding a bit of fun to your product and/or website is the best way to connect to your customers.

The Age of Mobile Advertising

May 12th, 2010

By Adam Carroll, Senior Marketing Strategist

For the past 5 years or so we’ve heard the same hype at the start of each year that “this year will be the breakout year for mobile advertising.” Whilst it’s true that mobile advertising has been increasing steadily each year, it hasn’t yet seen the predicted explosion and has remained a small consideration for digital advertisers.

At the beginning of 2010 there was once again a lot of noise about mobile finally gaining traction, but unlike previous years it seems that those sentiments are finally being proven correct.

Depending on what reports you read, there has been anywhere from a 15-45% increase in mobile advertising spend from Q4, 2009 to Q1, 2010. However, probably the strongest indicator that mobile has finally emerged is a survey conducted during Q1, 2010 which polled over 1000 US agencies. The survey conducted by DM2Pro.com determined that average client spending on mobile advertising would increase by 80% in 2010. This represents a significant shift in attitudes towards mobile that will likely see it become a serious part of the marketing mix during 2010.

So why, after several years of false starts is mobile advertising finally gaining the traction it has long promised?

One of the key influences has been the continued growth of smart phone usage. According to Nielsen, the number of US mobile owners using smart phones grew 14% in Q1 (2010) alone, and by the end of this year there will be 66% more smart phones in use than there were at the beginning. The effect of this has been a much larger mobile browsing audience who are increasingly using their mobile devices for web based activities over traditional PC’s. A recent Universal-McCann study found that 53% of US smart phone users download mobile content from the web at least once a day and click on mobile ads. That represents a large, engaged and relatively untapped audience for advertisers to reach.

A second factor in mobiles growth has been the fact that the mobile networks and ad platforms have stepped up their game, providing a wider range of ad formats and more sophisticated targeting techniques that cater to performance based and branding budgets alike. This has effectively negated some of the key concerns and hesitations that advertisers have had with mobile advertising in the past. More flexible formats and platforms have made mobile more appealing to a wider range of advertisers.

At the entry level, mobile search is becoming more sophisticated with networks such as Google enabling advertisers to set up text or image based campaigns from the Google AdWords interface. Not only does it simplify the set up process but it also enables advertisers to target their audience based on a number of criteria including device type (iphone, android etc) carrier (AT&T, Verizon etc) and geographic location of the user. The additional appeal of this type of campaign is that it is suitable for virtually any budget, making mobile advertising a realistic channel for smaller advertisers.

At the other end of the scale, rich, customized ad formats and extensive targeting opportunities have enabled blue chip advertisers to achieve results with effective brand placements. New technology has provided unparallel levels of contextual targeting and engagement. It’s now truly possible to reach an intended audience at exactly the right time, location and when they are carrying out a specific action on the mobile web. With Apple releasing their iAd platform this will further entice big budget brand advertisers to come on board in 2010.

Whilst it’s becoming clear that mobile advertising has arrived as a serious digital medium, it also must be noted that there are substantial benefits for those advertisers willing to put some focus on this channel:

Firstly, is the fact that display ads in mobile generate click through rates substantially higher than traditional online display ads. This is largely due to the fact that there are still comparatively few advertisers running mobile campaigns meaning fewer ads, less clutter and ultimately better cut through for current advertisers.

The other immediate advantage of mobile advertising is that it is still relatively inexpensive when compared to other forms of digital media, again due to the abundance of mobile traffic and lack of advertisers. In 2009 only 24% of mobile networks sold more than half of their ad inventory (DM2Pro.com) representing a great opportunity for new mobile advertisers to negotiate cost effective rates on both a ‘cost per click’ and ‘cost per thousand impression’ basis.

2010 certainly is shaping up to be the year that Mobile Advertising emerges as a significant digital channel. Those advertisers who are able to adopt this rapidly evolving channel will reap cost and performance benefits and gain an edge in a medium which is likely to become standard in most digital marketing plans from 2010 and beyond.

5 Takeaways from RBM’s Panel on Social Media

May 12th, 2010

By Peter Vaughan, Social Media Strategist 

 

Did you miss our April 21st panel on social media? Here’s a breakdown of the five biggest takeaways that came out of our discussion with marketing experts from Facebook, CODA Automotive, Kaleidescape and Media Link, LLC.

 

1) Consumers Don’t Want to Be Friends with Brands – The fundamental reason why social media is seeing such a growth in popularity amongst consumers is because of its ability to provide a true connection with the content and people consumers care about on a day-to-day basis. Therefore, it’s a mistake to think that consumers want to form an ongoing relationship with a product or brand just because you’ll offer the occasional discount or coupon. To achieve true success, brands must first ask themselves if their social media strategy really provides the framework to provide the emotional connection that is needed to sustain long-term engagement.

 

2) Avoid Silos in Your Social Strategy – Good ideas can come from anyone. No one division (PR, Marketing, Sales, etc.) should be the sole owner of your corporate social media structure. Nor should there be separate fragmented silos that operate without transparency to the rest of your organization. Instead, the foundation for your social media strategy should start with a fundamental change in corporate culture. The same collaboration and transparency you want to show externally with consumers on social media channels needs to be embraced internally. Work with members of each division within your corporation to set technology standards, interaction policies and integrated consumer strategies so that everyone buys into the same overarching social media identity.

 

3) Start Experimenting with Mobile – Statistics indicate that more and more people are connecting to their social networks via mobile devices instead of desktop PCs or laptops. This not only speaks to how far the mobile market has come in the past five years with the aid of smart phones, but also how important social media is becoming to the everyday activities of the average person. So do yourself a favor and prepare for the coming of the mobile age by trying marketing efforts like live event coverage, social media tie-ins to brick and mortar locations and more so that the eventual transition and expansion into the mobile world becomes like second nature.

 

4) When is Enough, Enough? - Recent concerns about consumer privacy and addiction on social networks are only going to get bigger. Eventually, we could see a time when the majority of consumers realize that just because you can use social media technology every minute of every day doesn’t mean you have to. The same can be said of corporations. When considering your social media presence don’t just jump on to every channel because you feel like you need to. Choose the channels that make sense to not just your marketing goals, but also your ability to handle the fast-paced interaction that’s often required.

 

5) No One is an Expert – Funny we’d admit this simple fact considering we are an agency that provides social media services. The truth of the matter is that this is a young space that’s evolving faster than anything we’ve ever seen before. Currently, there are no true experts with tried and true formulas that can be applied to any and every situation. That being said, because of this reality social media is wide open and the playing field is level no matter if you’re a huge brand with millions in marketing spend or a startup with little resources. So even though the first “class” of social media experts has yet to graduate, you shouldn’t be afraid to get a jump on the competition. Recognize that any time there is big change within an industry, there is an even bigger opportunity to come out ahead.

 

Were you at the panel? Did you have a different point of view? Want to learn more about our approach to social media? Leave your thoughts in the comments section of our blog or reach out to us on twitter: www.twitter.com/redbricksmedia.

May Letter From The CEO

May 12th, 2010

 

Our business is based on people and clients and I am very happy to announce developments in both areas plus a very special event we had last month.

 

First, effective last month Scott Tieman has been promoted to the Head of Client Services. Since I joined the agency in January I have been impressed with Scott’s strong ability to partner with clients and create business building marketing ideas. Scott is an outstanding client leader who knows how to manage a team and strategically bring the right services to his accounts. Scott’s clients love his passion and his drive to do the best work possible without settling for the status quo. I was very happy to hear one of our clients refer to Scott as her “fearless” leader because that description is so true to Scott and it’s the way Red Bricks performs as an agency for its clients. Scott has been busy this past month meeting clients and becoming more involved with our New York office. Putting Scott in charge of account management shows our commitment to providing stellar client service and creating future growth for the company.

 

Next, I am happy to report that we have started working with a new client, Hitachi GST on both U.S. and international assignments. The nature of our assignment is tied to the launch of new products so there are limited details we can announce at this time. However, we can say that Red Bricks Media won the business in a competitive pitch and our work will encompass digital duties in creative, media, search, social and web development. Thank you to everyone at Red Bricks Media who worked very hard to secure the trust and respect of the Hitachi clients. We are thrilled to be partners with Hitachi and look forward to creating enormous value for their business.

 

Last month Red Bricks Media hosted a panel discussion event called “St@te of the Feeds” to take a closer look at social media and the impact it is having on marketing and advertising. Sandy Grushow from MediaLink moderated the panel which included Paul Ollinger from Facebook, Sean Blankenship from CODA Automotive and Diana Cartwright from Kaleidescape. Sandy and the panel talked for over an hour about the trends in social media and how advertisers can capitalize on consumer engagement. Thank you again to our outstanding panel and everyone who attended the event. You can read all about it on the agency’s twitter feed (http://twitter.com/redbricksmedia).

 

I am proud of these latest accomplishments of the agency and I am looking forward to developing deeper partnerships with many of our clients as we continue through the rest of year.      

 

Google Site Speed Announcement: Not Time to Panic

April 27th, 2010

 

By Stan Wang, Director of Search

The latest news in the SEO world is that Google recently announced that they are including site speed as a factor in their ranking algorithm.  “Site speed” is defined simply as how quickly a website responds to web requests.  Before we talk about the implications of this change let’s go over a few important facts as mentioned by Google:

·         Page relevance is weighted much more heavily

·         The changes were launched “a few weeks back”

·         Fewer than 1% of search queries are affected

·         Currently only applies to English searches on google.com

Now of course the obvious question is - what does this mean for my SEO efforts? 

Borrowing from the Google Search Quality Team’s Principal Engineer, Matt Cutts, the first order of business is: don’t panic.  According to Google, this change has affected a very small percentage of search queries. 

Casual observation would support this attitude as well.  Few if any people even noticed the change when it was rolled out around early March.  Unsurprisingly, we have not seen any unexpected changes in our clients’ rankings at Red Bricks.  With nary a change in search engine results, the time to hit the panic button is not now. 

Google also mentions that relevancy factors are still weighted much more heavily than site speed.  That means things like keyword relevance, site authority, and backlinks -. i.e., all the things a good SEO program has been doing all along - are still the most important factors for ranking.

Does this mean there that nothing should be in done in response to this algorithm change?  Certainly not!  Google uses a multitude of factors to rank pages and it is important to do well in as many of them as possible.  While it is difficult to pinpoint precisely what Google may be looking for in a newly released factor, we can definitely approximate site speeds by looking at the page load times of the top performing sites out there.  The slowest of top performing sites generally have page load times of up to seven seconds.  A good rule of thumb for your website’s pages is to outperform this bottom quartile and have page load times of less than 7 seconds. Ideally, your page load times would be clocked at under 4 seconds.  There are several free page load analysis tools available, including Google Webmaster Tools, Page Speed, and YSlow. 

The good news is that the majority of sites require no immediate action., Page load times are easy to measure, and having a faster website offers benefits beyond helping search engine rankings.  As is typical for Google, they will monitor this change on google.com before rolling it out internationally.