Knowing the Newsumer: Consumer Decision Making in a Digital World

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How can businesses and marketers reach consumers at the times that influence their decisions the most? We all know that the proliferation of digital and social media has been a game changer for the …

How can businesses and marketers reach consumers at the times that influence their decisions the most? We all know that the proliferation of digital and social media has been a game changer for the way we communicate with each other, but how can businesses leverage an understanding of the way consumers are making the decisions to bring in the bucks?

This presentation provides a fundamental understanding of how digital and social media is impacting business and marketing strategy along with some examples of brands doing it right and reaping real results.

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  • 1. knowing the NE W SUMER consumer decision making in a digital world with BEN GROSSMAN www.ben-grossman.com | @BenGrossman
  • 2. Q: how do you use digital media when you’re making a purchase decision?
  • 3. A: brand websites social networks product reviews blogs/podcasts mobile price-checking
  • 4. WHAT DO WE ALREADY know?
  • 5. 8 0 % A ME ED OF IAL M NS RICA IA. USE SOC 09 TER 20 RES FOR
  • 6. 8 0 % A ME ED OF IAL M NS RICA IA. USE SOC 50M 09 TER 20 RES FOR adults increased their social media use as a result of the Great Recession. PEW 2010
  • 7. S 2 / 3 EB S W OK SI 0 U EBO ACEBOO 10 AC K TE 20 10 0 % F P F D TO VE ATE 8 A NS RICA IA. ME ED OF IAL M SOC USE HA EGR IN T 50M 09 TER 20 RES FOR adults increased their social media use as a result of the Great Recession. PEW 2010
  • 8. A: brand websites social networks product reviews blogs/podcasts mobile price-checking
  • 9. A: brand websites social networks product reviews blogs/podcasts mobile price-checking (notice a few things missing?)
  • 10. banner ads broadcast spots print ads pre-roll video ads radio ads direct mail
  • 11. EVERYTHING has its place. banner ads broadcast spots print ads pre-roll video ads radio ads direct mail
  • 12. EVERYTHING has its place. No matter how good you are at tweeting or optimizing your blog’s meta tags, you must rst know the newsumer to know how to know how to make the register ring.
  • 13. EVERYTHING has its place. But, what does that mean to business and marketing strategy?
  • 14. GOAL OF BUSINESS
  • 15. GOAL OF BUSINESS sell stuff. often.
  • 16. GOAL OF MARKETING
  • 17. GOAL OF MARKETING in uence consumers to buy stuff. often.
  • 18. WHAT DO WE ALREADY know?
  • 19. WHAT DO WE NEED TO know?
  • 20. WHAT DO WE NEED TO know? 4 THINGS NEWSUMERS WANT
  • 21. NEWSUMERS WANT: CLOUT
  • 22. The advertising that has the most clout is the advertising that already has your consumer’s ear.
  • 23. The advertising that has the most clout is the advertising that already has your consumer’s ear. MOST TRUST OF AD ED FO VERTIS RMS ING: #1 Family #2 Fr iends N IE LS #3 O EN 20 nline P 10 roduct Revie ws
  • 24. “The explosion in consumer-generated media (CGM) over the last couple of years... means consumers’ reliance on word-of-mouth in the decision-making process, either from people they know or online consumers they don’t, has increased signi cantly.” Jonathan Carson President of Online International Nielsen Company
  • 25. YOUR BRAND IS NOT WHAT YOU SAY IT IS.
  • 26. YOUR BRAND IT’S WHAT IS NOT WHAT YOU THEY SAY IT IS. SAY IT IS.
  • 27. How much are ‘they’ really saying?
  • 28. How much are ‘they’ really saying? 1.97T online advertising impressions are created every year Forrester 2010
  • 29. How much are ‘they’ really saying? 1.97T online advertising impressions are created 500B every year peer impressions are created Forrester 2010 every year
  • 30. How much are ‘they’ really saying? 1.97T online advertising impressions are created 500B TR US TE D every year peer impressions are created Forrester 2010 every year
  • 31. How much are ‘they’ really saying? 1 /4n adve r line s are tisin of o ession nerate g d r e imp umer g s con 1.97T online advertising impressions are created 500B TR US TE D every year peer impressions are created Forrester 2010 every year
  • 32. YOUR BRAND IT’S WHAT IS NOT WHAT YOU THEY SAY IT IS. SAY IT IS.
  • 33. Universal Studios knew just the right people to target... Harry Potter’s most in uential fans.
  • 34. KEY TO CLOUT: Choose the right messenger(s). • Identify leaders within social circles. • Consider tools that measure digital in uence (klout.com). • Relinquish digital control of your brand so that consumers know you want them to help tell your story.
  • 35. NEWSUMERS WANT: CLOUT
  • 36. NEWSUMERS WANT: RELEVANT
  • 37. There’s nothing worse than feeling like you’re being yelled at...
  • 38. There’s nothing worse than feeling like you’re being yelled at... ...except being yelled at when it’s interrupting something you’re really enjoying.
  • 39. “It’s a no-blink environment for brands. Consumers aren’t always paying attention to your marketing message, but they are paying attention to each other.” Yael Taqqu Principal McKinsey & Co
  • 40. TIP Think about how your initiative will support the consumer’s decision journey.
  • 41. TIP Think about how your initiative will support the consumer’s decision journey. when 2/3 of bra nd to uch p evalu consumer oints ate a s acti consu purch vely mer d ase a riven re MCKINSEY 2009
  • 42. TIP Think about how your initiative will support the consumer’s decision journey. when 2/3 of bra nd to uch p evalu consumer oints ate a s acti consu purch vely mer d riven ase a re 4-5 A times S EXPEN SIV E TO GE ER T A NEW CUSTOM NG I OF KEEP INSTEAD NE A CUR RENT O MCKINSEY 2009
  • 43. TIP Think about how your initiative will support the consumer’s decision journey. 20-50 2/3 of bra when nd to uch p of pur ch made ases are p % on wo rimarily bas rd of mouth ed evalu consumer oints ate a s acti consu purch vely mer d riven ase a re 4-5 A times S EXPEN SIV E TO GE ER T A NEW CUSTOM NG I OF KEEP INSTEAD NE A CUR RENT O MCKINSEY 2009
  • 44. Mini decided to market to its preexisting owners... and wins.
  • 45. KEY TO RELEVANT: Think about what your consumers want to hear when. • Map out your consumer’s journey. • Align initiatives and messaging with the consumer’s decision journey and mindset. • Sell a lifestyle or outcome, not your product.
  • 46. NEWSUMERS WANT: RELEVANT
  • 47. NEWSUMERS WANT: EASY
  • 48. Do you make it easy for consumers to love doing business with you?
  • 49. Have you made it easy to nd your products, services and information? SOCIALNOMICS 2009
  • 50. Have you made it easy to nd your products, services and information? 25% C OF SEAR 00 BRAND P1 TS H RESUL S FOR TO ENERAT ED -G A RE USER SOCIALNOMICS 2009
  • 51. Have you made it easy to share your content and experiences? TR US TED 500B peer impressions are created Forrester 2010 every year
  • 52. Have you made it easy to share your content and experiences? TR US TED 500B peer impressions are created 62% Forrester 2010 every year are from Facebook alone
  • 53. Quick Chek made it easy (and fun) to love them... and share it.
  • 54. KEY TO EASY: Make it a ‘no-brainer’ to love (and recommend) you. • Implement a CRM (customer relationship management) program that rewards loyalty in a genuine way. • Invest in your brand’s ndability. • Make all of your content highly shareable.
  • 55. NEWSUMERS WANT: EASY
  • 56. NEWSUMERS WANT: DIFFERENT
  • 57. “Be daring, be different, be impractical, be anything that will assert integrity of purpose and imaginative vision against the play-it-safers, the creatures of the commonplace, the slaves of the ordinary.” Cecil Beaton Fashion Photographer
  • 58. Trident got different... and resonated.
  • 59. People are looking for a story to tell.
  • 60. KEY TO DIFFERENT: Be memorable and simple enough your story spreads. • Create a unique selling point for your brand that your organization can get behind. • Package your story and experiences so they’re ready for consumers to understand and re-tell.
  • 61. NEWSUMERS WANT: DIFFERENT
  • 62. WHAT DO WE NEED TO know? 4 THINGS NEWSUMERS WANT 1. CLOUT 2. RELEVANT 3. EASY 4. DIFFERENT
  • 63. WHAT DO WE NEED TO 1. CLOUT know? 2. RELEVANT 3. EASY 4. DIFFERENT
  • 64. WHAT DO WE NEED TO 1. CLOUT know? 2. RELEVANT 3. EASY 4. DIFFERENT The newsumer is looking for brands with CREDIBILITY: brands that add meaningful value to their lives. Credible brands are the ones that will win the newsumer... and get newsumers to virally spread messages on their behalf.
  • 65. knowing the NE W SUMER consumer decision making in a digital world BEN GROSSMAN COMMUNICATIONS STRATEGIST 602 741 0314 @BenGrossman www.ben-grossman.com ben@ben-grossman.com www.oxfordcommunications.com