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Business Link's 'Future of Marketing' presentation 1 of 2

Business Link's 'Future of Marketing' presentation 1 of 2

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  • NOTES: Introduction from speaker Audience Participation -Ask the audience: What Industry sectors they are from? Do you have a Business Plan ? What is their Definition of Marketing?
  • NOTES: Explain what you will be covering
  • NOTES: Consumers demand - and get - more choice and better service They don’t want to be “sold to anymore” Requires both new thinking and return of some old standards A new language is developing focusing on the consumers – “engagement marketing”, “conversation marketing” Push Marketing is being replaced by Pull Marketing Provide High level overview of the current market and why the above are important i.e: Richard/John/Jane- Can you agree these between yourselves so you have an agreed approach and let me know what you want to include before I send it to Dev Refer to B2B & B2C Include aspects of B2B and B2C
  • NOTES: Relationships add value
  • NOTES:
  • NOTES: Introduction from speaker Audience Participation -Ask the audience: What Industry sectors they are from? Do you have a Business Plan ? What is their Definition of Marketing?
  • Transcript

    • 1. The Future Of Marketing
    • 2. Planning for Future Trends Richard Storey South West Regional Ambassador Small Business Community
    • 3. Planning for the Future
      • What do the future trends look like?
      • What are the opportunities?
      • How will these effect your business?
      • How do you plan for these?
      • Questions & Answer session
    • 4. What is marketing? Marketing is ‘the management process responsible for identifying, anticipating and satisfying customer requirements profitably’.
    • 5. From monologue to dialogue
      • Traditionally marketers have broadcast messages designed to correspond with each stage of a buying cycle
      • Primary role of marketing was to conduct, (or squeeze!) customers through a funnel on their way to a point of sale.
    • 6. Now routes to market look more like this!
    • 7. Customer conversations
      • Over the past few years have witnessed
      • the first examples of true two-way
      • marketing “conversations”
      • Driven by innovation, competition and major shifts in consumer behaviour, the dialogue between brands and their customers is replacing the traditional marketing monologue.
      • We live in a transparent world; words turn into actions in seconds.
    • 8. What are the Future Trends?
      • Changing Consumer Attitudes
      • Quality not quantity
      • Reliability and value for money
      • Supplier integrity and trustworthiness
    • 9. What are the Future Trends?
      • Reputation Management
      • Protect your assets – especially your brand and image
        • Hard to build but easy to destroy
      • Train staff to understand and project your culture and values
      • Develop and deliver a consistent customer experience
      • Focus attention on controllable communications
      • (advertising, PR, website, newsletters etc)
      • Highlight potential dangers of unguarded use of social media
    • 10. What are the Future Trends?
      • Media Choices
      • Online versus offline
      • Identify what communication channels
      • your customers most frequently use
      • Plan media choice to optimise targeting
      • Segment your markets
      • Use different messages and media for
      • different age groups
    • 11. What are the Future Trends?
      • Return on Investment and measuring it
      • 80% of marketing spend is wasted – find out which 20% isn’t
      • All forms of promotion should be seen as an investment – not a cost
      • Measure the value of new business won - not volume of enquiries - against promotional costs
    • 12. What are the Opportunities?
      • New Technologies
      • Segmenting your market
      • How do I stand out in the crowd
      • Global markets
    • 13. New Technologies
      • Low carbon businesses
      • Renewable energy
      • Improved materials recovery
      • and reuse technologies
      • Technologically advanced
      • labour and time saving products
      • and services – we will become increasingly time poor and financially constrained
    • 14. Segmenting your market
      • Understand your markets
      • Develop and apply a different marketing approach to each segment
      • Focus on profitable segments and discourage business from unprofitable sources
    • 15. How do I stand out in the crowd
      • Differentiate your product or service
      • Exceed customer expectations
      • Innovate – this may mean
        • Doing something entirely new
        • Doing something old but in a new way
        • For example -digital replacing analogue
        • Rediscovering something that has been lost and re-introducing it
        • For example – personal service (remember that?)
    • 16. Global markets
      • The internet and e-commerce solutions provide the opportunity to become a global business
      • 21st century facilities for moving goods across continents means that trading globally is no longer financially prohibitive for good added value products
      • Some markets like imported national products – Americans like English products
      • Japanese like Scottish whisky
    • 17. What about Social Media?
      • Requires new marketing etiquette:
        • Conversation
        • Courtesy
        • Transparency
        • Genuine
        • Sharing
        • Values
    • 18.  
    • 19. How will these affect my business?
      • Business Success?
      • Business Failure?
    • 20. Business Success? Ways to achieve it
      • Monitor and re-evaluate your product/service offering
      • Shadow your competitors – develop competitive advantage
      • Build a superior reputation;
        • A trusted brand
        • An ethical approach
        • A customer-centric policy throughout the business
      • Exceed customer expectations
    • 21. Business Success? Ways to achieve it
      • Focus on benefits not features
      • Remember that people do business
      • with people not companies or organisations
      • Remove barriers/obstacles to buy – make it easy to buy
      • Use third party endorsements to build an image, reliability and trustworthiness
      • Demonstrate why your business should be the preferred choice
      • Don’t be sentimental about unprofitable customers
    • 22. Business Failure? What does it look like - what are the signs?
      • Lose touch with your customers/markets
      • Sell on price and volume and lose sight of margin and added value
      • Fail to innovate/introduce
      • new or improved products to
      • remain competitive and relevant
    • 23. Business Failure? What does it look like - what are the signs?
      • Create unsustainable marketing budgets
      • Rely on customer churn to keep your business growing – finding new customers will invariably cost much more than keeping established ones
      • Fail to identify customers who are costing you money and draining your profits
    • 24. Start by creating a plan
      • Integrate marketing into your business
      • Decide on what you want to achieve?
      • Decide what trends will have an impact?
      • Decide how you can meet these
      • Review resources, skills & capability and fill the gaps
      • Create a marketing plan
    • 25.
      • "I would not say that the future is necessarily less predictable than the past. I think the past was not predictable when it started.“
      • Donald Rumsfeld
    • 26. Best of luck for the future! Thank you
    • 27. Any questions?
    • 28. Find Out More The future of Marketing www.cim.co.uk/filestore/resources/agendapapers/futureof marketing.pdf   Regional Director- Christine Boswell-Munday Christine [email_address] Visit our stand or visit www. cim.co.uk
    • 29. The Future Of Marketing
    • 30. An (Old) Definition Of Marketing
        • If you can get the Mayor to laugh about it – that’s PR
      • And if you planned the whole thing ... that’s Marketing !!
        • The circus is coming to town!
        • If you paint a sign saying: “Circus is coming to the fairgrounds this Sunday” – that’s Advertising
        • If you paint the sign on the back of an elephant and walk him through town – that’s a Promotion
        • If the elephant walks through the Mayor’s flower bed – that’s Publicity
    • 31. Marketing Today
        • In the modern world, we could add:
        • If you spread the word via your website or blog, or using Facebook and Twitter, perhaps on your iPhone – that’s Social and Digital Media!
    • 32. Today …
      • We’re witnessing the transition from an analogue world to one that is almost entirely digital
      • Soon ALL content will exist in digital form, eg OED
      • Digital technology comes with a powerful promise:- the ability to reach exactly the right audience, at exactly the right time and place, with exactly the right message
    • 33. Today …
        • Things are changing:
      • … from TELL & SELL – Monologue Marketing
      • … to INTERACTIVE – Dialogue Marketing
    • 34. Brands and Branding won’t change
      • However......your brand is no stronger than your reputation – and will increasingly depend upon what comes up when you are ‘Googled’
    • 35. Brand
      • What is your brand?
      • Collectively, it’s what people say, feel or think about your product , service or company
    • 36. Branding
      • What is branding?
      • Using marketing to influence people’s attitudes towards, and perception of, the brand
    • 37. Brand Loyalty
      • Brand loyalty will be earned over time through consistent, positive experiences and engagements with a product, service or company
      • “ Treat me well, and I’ll return the favour by spreading the word for you and coming back to you.”
    • 38.
      • “ Consumers will increasingly look for brands with a social purpose… Brands and businesses that fail to integrate consumer needs with societal wellbeing will struggle to grow in the future.”
    • 39.
      • “ Consumers will increasingly look for brands with a social purpose… Brands and businesses that fail to integrate consumer needs with societal wellbeing will struggle to grow in the future.”
      • Paul Polman, Chief Executive, Unilever
    • 40.
      • “ On the one hand, it seems like everything is changing. On the other hand, one very important dynamic has not changed…
      • … the customer is boss.”
    • 41.
      • “ On the one hand, it seems like everything is changing. On the other hand, one very important dynamic has not changed…
      • … the customer is boss.”
      • AG Lafley, Chairman of the Board, Proctor & Gamble
    • 42.
      • “ Remember three age-old marketing pillars:
      • 1) show humility when you talk with customers;
      • 2) keep the communications simple;
      • 3) what customers want above all is VALUE.”
    • 43.
      • “ Remember three age-old marketing pillars:
      • 1) show humility when you talk with customers;
      • 2) keep the communications simple;
      • 3) what customers want above all is VALUE.”
              • Vittorio Colao, Chief Executive, Vodafone
    • 44. Where Are We Now?
      • Newspapers
      • Television
      • Radio
      • Cinema
      • Direct Mail
      • Online/Social Media
    • 45.  
    • 46. Newspapers
      • UK circulation has fallen 25% between 2007 and 2009 (Organisation Economic Co-operation Development figures)
      • USA -30%; Italy -18%; Canada -17%
      • Why?
      • Growth of the internet/online news free of charge, fragmenting media landscape
      • Reduction of bulk distribution to hotels/restaurants
      • Reduction in ad revenue = price increases
    • 47. UK Newspapers
      • The last 10 years …
      • The Sun 3,451,746 2,979,999 down 14%
      • Daily Mail 2,421,795 2,092,643 down 14%
      • Daily Mirror 2,180,227 1,248,919 down 42%
      • Daily Star 725,552 809,992 up 12%
      • Daily Telegraph 974,362 681,322 down 30%
      • Daily Express 877,735 664,293 down 24%
      • The Times 678,498 503,642 down 25%
      • Financial Times 446,271 391,864 down 12%
      • The Guardian 424,132 286,220 down 33%
      • Independent 203,402 187,135 down 8%
      • (ABC - Daily circulation, July 2010)
    • 48. UK Newspapers
      • The last 12 months…
      • The Sun 2,979,999 down 1.6%
      • Daily Mail 2,092,643 down 4.93%
      • Daily Mirror 1,248,919 down 6.12%
      • Daily Star 809,992 down 6.95%
      • Daily Telegraph 681,322 down 18.45%
      • Daily Express 664,293 down 8.94%
      • The Times 503,642 down 14.77%
      • Financial Times 391,864 down 4.88%
      • The Guardian 286,220 down 14.82%
      • Independent 187,135 down 6.62%
      • (ABC - Daily circulation, July 2010)
    • 49. Cinema Admissions
      • 173.5 million cinema admissions were recorded for the UK in 2009, up 5.6% from 2008
      • However :
      • Cinema admissions have dropped well over 50% since the 1960s
    • 50. Radio
      • Listening figures are at an all time high:
      • Total audience, Q2 1999: 42.9 million adults per week (89%)
      • Total Audience, Q2 2010: 46.8 million adults per week (91%)
      • Why?
      • More choice, digital radio, handheld smartphones
      • Ad revenue is down
    • 51.
      • “ The next 50 years will see new forms of marketing, tailored in greater ways to our lifestyles.
      • “ Traditional advertising will remain on bus stops, through the iPhone, on television, via the internet and posted through our letterboxes.
      • “ But word-of-mouth marketing will forever be the most powerful way of persuading customers to join us.
      • “ It’s the product that really forms the future of marketing – as it has done in decades past.”
    • 52.
      • “ The next 50 years will see new forms of marketing, tailored in greater ways to our lifestyles.
      • “ Traditional advertising will remain on bus stops, through the iPhone, on television, via the internet and posted through our letterboxes.
      • “ But word-of-mouth marketing will forever be the most powerful way of persuading customers to join us.
      • “ It’s the product that really forms the future of marketing – as it has done in decades past.”
      • Sir Richard Branson
    • 53. Future Technology
    • 54.
      • “ We don’t ask consumers what they want.
      • “ They don’t know.
      • “ Instead we apply our brainpower to what they need, and will want, then make sure we’re there, ready.”
    • 55.
      • “ We don’t ask consumers what they want.
      • “ They don’t know.
      • “ Instead we apply our brainpower to what they need, and will want, then make sure we’re there, ready.”
      • Akio Morita, Co-founder, Sony Corporation
    • 56.
      • “ People don’t know what they want until you show it to them.”
    • 57.
      • “ People don’t know what they want until you show it to them.”
      • Steve Jobs, Co-founder, Chairman & CEO, Apple
    • 58. Marketing In Tomorrow’s World
      • 20 media and technology changes that will affect marketing in the future …
    • 59. Eye Recognition TV
      • Hidden cameras detect if eyes are on the screen
      • If they’re not, the sound and picture start to fade out after a given period
      • What happens during an ad break when someone leaves the room?!
    • 60. 3D TV
      • Here already!
      • Sport
      • Gaming industry
      • Medical advancement
      • Movies
      • Advertising
      • Next stop?
      • Smellovision ?!
    • 61. Interactive Posters
      • Poster panel with in-built interactivity
      • Detects potential customer
      • Engages via animation or sound or both
      • Plays video clips
    • 62. Interactive Shop Windows
      • Adds a touch-sensitive layer to a shop window
      • eg estate agents
      • After hours potential
    • 63. Bluetooth Proximity Marketing
      • Bluetooth transmitter within business premises
      • Sends messages to passers-by with Bluetooth enabled phones
      • Cinemas, police messages, restaurants, etc.
      • Potential for any retailer
    • 64. 2D QR Barcodes
      • A QR (Quick Response) Code is a matrix barcode or two-dimensional code readable by QR scanners, mobile phones with cameras and smartphones
      • Point at coded message to translate it into a meaningful message/special offer/promotion
      • Offline marketing measurement
      • Free of charge (currently!)
    • 65. Location Marketing
      • Gowalla, foursquare
      • Customers sign up free to the service and ‘check-in’ at each destination
      • Each time you check-in (using your GPS enabled phone) you receive points
      • The person with the most points for a venue becomes ‘the Mayor’
      • A number of retail outlets are offering their ‘Mayors’ a particular discount
      • eg Dominos Pizza offers their Mayors a free “personal Pizza” on Wednesdays; Starbucks offers a discount; some hotels offer a 15% discount on their a la carte menu
    • 66. iPods, Then iPads, Next iStops!
      • Bus stops with built-in digital information
      • All buses fitted with GPS locaters, tells your smartphone when the next bus is due
      • Can also provide weather forecasts, news updates, etc
      • Advertising opportunities
    • 67. Facebook
      • Here today, even more popular tomorrow?
      • Launched 2004, currently 500 million+ users
      • Not the leading social network in Russia, China or Japan
      • Current value $33 billion?!
      • Average number of friends is 130
      • Advertising opportunities, eg Leigh Court wedding venue – ‘Single’ to ‘Engaged ’
    • 68. Spotify
      • Over 8 million tracks and counting
      • Create playlists – simply drop and drag
      • Future potential vs commercial radio?
      • Spotify is your new music collection!
    • 69. The BBC
      • What is the future of the licence fee?
      • The Beeb is changing – 25% cut in website spend
      • 63% of the population would be happy to have advertising on the BBC in return for scrapping the licence fee
      • Sponsorship opportunities?
      • Local TV opportunities?
      • Local radio opportunities?
    • 70. MORE Social Media!
      • ‘ Ping’ from Apple
      • Social network all about music
      • “ Facebook and Twitter meets iTunes”
      • Follow your favourite artists and friends and follow what music they are downloading
    • 71. Last FM i-app
      • Listen to tunes on your mobile?
      • Keep running out of memory or forgetting to update your playlists?
      • Last FM has an online library of millions of tracks
      • Create a personalised radio station based on your tastes
      • Free to use
    • 72. Bump i-app
      • The end of the business card?!
      • Meet someone else with an iPhone or iPod Touch
      • Swap your contact details by simply bumping your devices together
      • Also become friends on Facebook, Twitter or LinkedIn
    • 73. Reel Director i-app
      • Looking to add video footage to your website?
      • Google loves video and it will boost your Google rankings
      • Film it, edit it, post it!
      • 4 styles of opening and closing credits
      • 27 types of transition
      • Add photos too, zooming in or out
      • Website homepage, email signature, YouTube
    • 74. TimeOut i-app
      • Looking for weekly updates in a specific area?
              • For concerts, art exhibitions, gigs, cinema listings
      • GPS technology
      • Next stop?
      • TimeOut Bristol & Bath
      • TimeOut Gloucestershire, TimeOut Swindon & Wilts
      • Where does this leave the likes of Venue magazine?!
    • 75. Market Research
      • More accurate audience measurement – BARB/RAJAR
      • Added technology
      • Webcams to watch expressions
    • 76. The Future Of Email Marketing?
      • ‘ Priority Inbox feature’ from Gmail / Googlemail
      • Prioritises your emails – Important / Everything else
      • Based on emails you’ve previously opened
      • Emails with keywords you’ve opened before
      • Does the email look like it’s come from a mailing list?
    • 77. The Future Of Web Design
      • Build your own website, zero experience required
      • www.moonfruit.com
      • Add pictures, audio, video
      • Track website traffic
      • Built-in SEO
      • Free of charge! (as long as you update it once every 6 months)
    • 78. Accuracy Of Web Content
      • ‘ Dispute Finder’
      • Highlights and vibrates if facts are in dispute on a website
      • But what about commercial websites in the future?
      • We offer the “best prices”, the “widest range”, we’re “number one in the area”
    • 79. Thank You!
      • Dev Chakraborty
      • Business Link
      • E: [email_address]
      • Slides available from:
      • www.businesslink.gov.uk/southwest/eventspresentations

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