new marketing trends: are you missing out?
DESCRIPTION
Presentation given at the 2011 VALA Spring Conference in Williamsburg, VA on 4/14/11TRANSCRIPT
“New Marketing Trends: Are You Missing Out?”
2011 VALA Spring Conference
4/14/11
Ron Fink
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Today’s conversation:
• Marketing’s Changing Landscape
• What Is the “New Marketing?”• 7 Trends You Will Want to Follow• Enhancing the Marketer’s Value• Key Takeaways
Audience Poll• Mkting. for a community?• Mkting to a community?• Changed in past 2 yrs?• Web marketing?
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Marketing’s Changing Landscape
• The principles are the same…
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Marketing’s Changing Landscape
• …but the rules on how it’s done have changed
Traditional Marketing:One message, Many channels
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TV
PR
Websites
MailEmail
PromotionsPrint
Radio
Advocates
Consumer Affairs
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20 years ago
More change in next 10 yrs. than last 100
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The “New Marketing”• No shouting, interrupting or
repeated advertising– Prior to the web, attract
attention by advertising and media PR
– Now the web has changed these rules.
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Shift in customer behavior/expectations
– Empowered– Educated – Internet savvy– Collaborate using
WOM and social media
– 85% of consumers shop online (Forrester Research)
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Everyone is the media, Everyone is a publisher
– Technology has enabled connections/removed barriers
– Can reach prospective buyers directly
– Buyers can speak directly to you
– Not just for those who can afford printing / distribution
Why has this happened?
– Avoid interruption and intrusion – Consumer wants more control– No one wants to be “sold”– Informed Engaged
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It’s not about how much advertising you do…
It’s all a matter ofTRUST
Consumers trust each other more than they do marketers
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7 Marketing Trends To Follow
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Web Is At the Hub Trend #1
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In the Beginning…
• Digitized print documents w/o functionality
• Mid-90’s HTML brought life to digital text (links, navigation bars)
• Technological advances/higher utility• Higher consumer expectations
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…Now a Necessity for Every Business
• Most powerful vehicle for marketing/communications• Fast/easy/timely communication
with millions • Transformed the speed of
company/brand growth• Building the site is easy; measuring your
success and taking action on it is harder
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Web Is At the Hub• SEO/SEM• Email • Content• Mobile• Video• Social Media• E-commerce• Analytics
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The Web Strategy• Provide relevant
information – Attract visitors– Nurture to become a
lead– Convert leads to
customers– Use content to optimize
website
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Growing a Successful Web Presence:
– Invest in search– manage SEO (links, listings, keywords, content)
– Invest in social– after you are found, promote your expertise with what others say about you
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Take a Look At Your Website
• Does it read more like an ad than a helpful resource?– If it showcases only product features and pricing, you're missing a
huge opportunity to connect with potential customers
• Focus less on your company. . . and more on the problems and needs of the people you are trying to reach
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Key Web Takeaways
• Your website is your most important marketing tool• Center of your online marketing efforts• Importance of a web marketing strategy• Is your website delivering the right message?
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Mobile Is On the Move Trend #2
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Number of Smartphone users will rise by nearly 50%
• 1 in 4 in US use a Smartphone
• 15% of 55+ use a Smartphone (Nielson Company)
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Mobile Usage on Tract to Eclipse Desktop
• Show ComScore graph where mobile usage surpasses desktop in 2014
•1.1 bil.
•1.45 bil.
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Mobile Is On the Move• 50% of consumers classified as "mobile
shoppers“• 10% are "heavy" mobile shoppers (but
account for 80% of the $ shopping volume)
• Small size & navigation difficulty detract use
• Larger phones & tablets will fuel growth
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Mobile-Web Integration
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QR codes• Connect smart phones to
websites• Access to videos, surveys,
special offers, or anything else contained on the website
• Download a free QR reader application
• Scan the codes using the phone’s camera.
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Key Mobile Takeaways
• Usage is still on the rise• Mobile platform competition remains fierce• Technology enablers continue to grow (better faster apps)• Create a mobile marketing strategy
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Video Over Text Trend #3
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Online Video On the Rise
• 20% inc. from 2009
• Grow another 24% thru 2015
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Video Over Text
• Powerful communication vehicle• Effective for SEO• Websites with video are 53x more likely to appear on the first
page of Google and can increase click-through-rate up to 200% (Forrester Research)
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Video Innovations• Mini-cams
– Small/inexpensive– Improved quality– No special talent required
• Pixability, marketing video specialists offer7 simple steps to a great video http://pixability.com/eo
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Nature’s Edge Assisted Living, Port St. Lucie, FL
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Key Video Takeaways• Consumers’ interest in
watching video ↑• Number of screens/devices
to access video content ↑• New products & services
may cause audience fragmentation(internet-enabled TV, DVR, video on demand, Netflix)
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Get Serious About Social Media Trend #4
• Social media is the use of web-based and mobile technologies to turn communication into interactive dialogue.
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SM Is the Rage
Over 500 million users. 22% increase in unique visitors over 2010.
Over 190 million users Tweeting about 65 million times/day
Over 90 million users. 22% increase in unique visitors over 2010
$1.2 billion = 2011 social media marketing spend 28% = increase over 2010 Forrester Research, Inc.
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Usage Is Projected to Grow
• 67% of Americans w/ Internet access are projected to be using social networks at least once a month by 2013 (Emarketer)
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Social Media = WOM =Trust
• 71% claim reviews from family members or friends exert a "great deal"of influence. (Harris Interactive, June 2010)
• Consumers mention specific brands over 90 times per week in conversations with friends, family, and co-workers. (Keller Fay, WOMMA, 2010)
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Trust Facilitates Purchase
• 53% of people on Twitter recommend companies and/or products in their Tweets. 48% of them deliver on their intention to buy the product. (ROI Research for Performance, June 2010)
• Consumer reviews are trusted 12 times more -- than descriptions that come from manufacturers (eMarketer, February 2010)
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Social Media and the Seniors Market
• Boomer caregivers are more reliant onsocial media than boomers in general (Pew Research)– 50+ 47% use SM (22% last year)– 65+ 26% use SM
(fastest growing segment WHY?)
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These Are “Platforms” Not Strategies
• Relatively new concept, don’t jump into it without setting objectives; developing your strategy
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4 Step SM Marketing Strategy
• Identify your primary target audience
• Determine the audience sales behavior
• Identify and use the critical touchpoints
• Monitor and assess the results
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Key Social Media Takeaways
• Usage of social media tools is still growing• Budgets are increasing• Community trust• Integration is key • The need for ROI is critical
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Customer Experience Trend #5
• Sum of all experiences a customer has with a supplier of goods or services, over the duration of their relationship with that supplier.
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Each Touchpoint Is Important• Every interaction with your customer creates an experience.
Negative <___________|___________> Positive
• What is the day-in, day-out 'customer experience' your company is delivering?
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Why Customer Experience Is Such a Hot Trend
Why Customer Experience Is Such aHot Trend
Commoditized Products
Undifferentiated Pricing
More Demanding Consumer
Superior Customer Experience
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Why Consumers Recommend to Others
Customer Service
55%
Product49%
Price42%
• Americans will spend 9% more with companies that provide excellent customer service (American Express)
• 79% that had a bad experience with a company told others about it
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Customer Experience Goal
Advocate
Loyal
Satisfied
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Key Customer Experience Takeaways
• Every touchpoint is key in the overall customer experience• Biggest marketing differentiator• Main reason for recommending to others• Turn customers into advocates
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Content Is King Trend #6• “anything created and uploaded to a
website” (Content Rules)– Words, images, photographs, videos,
webinars, blogs, white papers, ebooks, podcasts, tools
– Outposts off the website—such as Facebook, Twitter, Linkedin and You Tube
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3 Ways To Deliver Content
• Paid media--advertising inserted next to another’s content. • Owned media--brand-created content• Earned media-- getting someone else to provide content
about a brand
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More and more businesses are blogging
– Businesses are now in the minority if they do not blog. From 2009 to 2011 the percentage of businesses with a blog grew from 48% to 65%.
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Blogs and social media channels are generating real customers
– 57% of companies using blogs reported that they acquired customers from leads generated directly from their blog
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Businesses are increasingly aware their blog is highly valuable
– 85% rated their company blogs as:useful, important or critical
– 27% rated their company blog as: “critical to their business.”
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How Content Changed a Company
River Pools & Spas—Warsaw, VA
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Key Content Takeaways
• Relevant content is the key element on your website• The best content goes viral• Businesses are making blogging a mainstay• Content can be the most important thing you sell
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Integrate Your Efforts Trend #7
• Can’t use tactics and tools in a silo• Marketing strategy has to be:
an intentional infusion of online and offline marketing tools
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Integrate Your Efforts
• Holistic approach• Seeks consistent message
and complementary use of media
• GOAL: Maximize impact on consumer’s mind to get best return on investment
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Audience Brand
Channels
Organization
Desired Result
Pulling it All Together
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Enhancing the Marketer’s Value
• Solve the customer’s problems first
• Think strategically• Cultivate alliances/partnerships• Establish yourself as the fountain
of knowledge/resources• Become the seed of innovation
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Key Takeaways• Consumer is in control• Web is your marketing focus• Social media, mobile & video
growth will continue• Use content to establish expertise• Leverage the power of integration• Market the marketing role
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Ron Fink
Call me: 804.968.5131 Email me: [email protected] /blog: strategicdriven.comConnect with me: facebook.com/ronfink1 facebook.com/strategicmarketingsolutionsNetwork with me: linkedin.com/in/ronfink1Tweet me : @sms_ron
Obtain copy of presentation at:www.slideshare.net/RonFink1 or email:[email protected]