ignore these marketing paradigms at your own peril
DESCRIPTION
These 4 marketing paradigms are critical to brands across all industries. Embrace them or peril.TRANSCRIPT
Ignore them at your own peril..
Bernie Borges
IBM Global CMO Study
http://public.dhe.ibm.com/common/ssi/ecm/en/gbe03433usen/GBE03433USEN.PDF
IBM 2012 Global CEO Studyhttp://public.dhe.ibm.com/common/ssi/ecm/en/gbe03486usen/GBE03486USEN.PDF
Is This Your Next Customer?
Is This Your Next Customer?
Or, Is This Your Next Customer?
4 Marketing Trends
• Social Business• Employee Branding• Delivering Experiences• Data Driven Marketing
4 Marketing Paradigms
• Social Business• Employee Branding• Delivering Experiences• Data Driven Marketing
Social Business is a Journey
The Train Has Left The Station
IBM 2012 Global CEO Studyhttp://public.dhe.ibm.com/common/ssi/ecm/en/gbe03486usen/GBE03486USEN.PDF
Zero Moment of Truth
http://www.zeromomentoftruth.com/
The New Paradigm
SOCIAL BUSINESS
C Suite Gets Social Business
Investment in Social Technology
http://www.vmware.com/files/pdf/socialcast/Social-Business-Delivering-Critical-Business-Value.pdf
Investment in Social Technology
http://www.vmware.com/files/pdf/socialcast/Social-Business-Delivering-Critical-Business-Value.pdf
Social Business Technology
The C Suite Gets Social Business
Marketing is Not a Department
A Social Business Leverages Content
• Employees• Customers• Influencers• Partners• Stakeholders
Advertising creates awareness…
Content creates demand…
EMPLOYEE BRANDING
Employee Branding
Marketing is Not a Department
• 70+ engineer bloggers• About technical topics• Measurable lead flow
Employee Branding at Kinaxis
Employee Branding at Kinaxis
THE EXPERIENCE
“It was nice to be recognized by the airline but being part of this company’s social network meant more to me than they would ever know. You see, by participating, I was constantly encouraged and inspired to start my own travel blog and create my online alter-ego @mrsoaroundworld. I made some valuable business connections and authentic friendships. The people in the Quality Hunters community were the first ones to read my new blog and spread the word. It rapidly became a very popular site for tales of luxury travel.” Ana Silva O’Reily
Harnessing Customer Feedback & Taking Action On It
The Starbucks Experience
• 2010 mobile marketer/year• 26 million mobile transactions• $110 million card reloads
The Mobile Experience
The Mobile Experience
Oreos Super Bowl “Now” Moment
SMH Loves Babies!
http://smh.com/
The E-Book Experience
The Show Experience
B2B Experience Options from Kinaxis
DATA DRIVEN
Three Eras of Modern Marketing• Creative era
• 1960’s and 70’s• Advertising centric
• e.g., The Marlboro Man, Where’s the Beef?
• Direct era• Database marketing direct to
the consumer• 1% response rates =
profitability • Relevance era
• A relevant message to each customer segment in the relevant channel
It’s All About Relevance
• 1978 consumers 2,000 ad messages/day• 2007 consumers 5,000 ad messages/day• 2010 consumers 16,000 ad messages/day
95% open rates
possiblewith highly
relevant messaging
5% open rate typicalwith irrelevant
messaging
The Cost of Irrelevant Messaging
• 41% of consumers say they would consider ending a brand relationship owing to irrelevant promotions• An additional 22% say they would defect from the brand relationship due to irrelevance• 58% of brand’s marketing content is not relevant to potential buyers, reducing brands’ chances of a sale by 45%
The customer is in control and knows it!
Forces Behind DDM
• Economics• Consumers affected by
down economy scrutinize purchases
• Customer loyalty is more important to brands than ever before
• Marketing budgets are under heavy scrutiny in C suite
Forces Behind DDM
• Intensifying competition• Lower barriers of competitive
entry in digital age• Competitors experimenting with
social media, email, content, behavioral marketing campaigns
• The WOW factor…Consumers expect to be wowed…
Forces Behind DDM
• Advancing technology• Business analytics• Marketing automation• Marketing optimization
The Power of Data Driven Marketing
The data (precision) marketing framework relies heavily on several key factors, starting with the collection and analysis of data.
Analyzeand Model
DetermineObjective
Deploy
Gathe
r Dat
a Strategize
Measure
DDM Business Results
• Increased revenue• Customer retention• ROI in marketing expenditure
It’s All About the Customer
Relevance will close the chasm between creative and direct marketing, leveraging customer insights to produce truly valuable content and communication that engages the buyer through highly relevant customer touch points.
Moneyball Marketing at Tampa Int’l Airport
Objective: Attract more direct routes to major cities
1 new non-stop air route to major city has $154 M economic impact, 1200 jobs.
Moneyball Marketing at Tamp Int’l Airport
Objective: Attract more direct routes to major cities
35% of Pinellas hotel guests rented cars in Orlando
Tampa, St. Pete, Sarasota effective buying rate of $96B
TPA is within 1 hour drive for 3.5 million people
Moneyball Marketing at Tamp Int’l Airport
Objective: Attract more direct routes to major cities
More than 30 Tampa Bay companies do business with Switzerland.
24 Swiss companies like Nestle SA, Credit Suisse Group AG and Zurich Financial Services that have subsidiaries in Tampa Bay.
Many European travelers fly to Orlando but end up in Tampa Bay: 35 percent of Pinellas beach-goers rented cars in Orlando.
Moneyball Marketing at Tamp Int’l Airport
Tampa International Airport has secured new daily routes to Cuba and Switzerland this year. British Airways also added two flights a week and now flies daily.
Data Driven ROI Mindset
DDM: A Matter of Survival
What’s Next for You?
• How connected are your customers?• What stage are you in? • What is your competitive position?• How vulnerable are you?• How connected are your employees? • Do you use social technology?• What kind of experience can you create?• How do you currently use data?
SourcesPrecision Marketing by Sandra Zoratti, Lee Galagher
http://precisionmarketingbook.com/
SourcesCMO Council, Why Relevance Drives Response and Relationships;
Using the power of Precision Marketing to better engage customers, 2009.
Michael Cannon, Nine Silver Bullets to Increase Marketing’s Relevance, Silver Bullet Group, Walnut Creek, CA 2010
The Economist, A Special Report on Managing Information, February 2010.
Jenny Davey, Every little of data helps Tesco rule retail, Sunday Times (London), October 4, 2009
Tampa International Airport playing its own version of “Moneyball,” to bring in new business, Tampa Bay Times, September 2, 2012
IBM Social Business: http://www.youtube.com/watch?v=Af-y81e-i6U&feature=youtu.be
Sources
Ana Silva O’Reilly, Grow Community: http://www.businessesgrow.com/2012/07/10/case-study-finnair-puts-social-media-community-to-work/
Three Stages of Social Media study: http://www.slideshare.net/colleencar/increasing-social-media-roi-using-gladwells-tipping-point-framework-4539106
IBM Highlights of Chief Executive Officer Global Study: http://public.dhe.ibm.com/common/ssi/ecm/en/gbe03486usen/GBE03486USEN.PDF
Strategy Execution Results Support
Bernie Borges
CEO, Find and ConvertTransformational Digital Marketing
[email protected]://www.findandconvert.com
My Digital TV Show
http://inbound.findandconvert.com/advance-your-social-business-journey/