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The Brand Management Dinosaur

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Presentation by Steve Bowen, B-M Asia-Pacific MD of marketing, on why marketing mindsets need to change to take advantage of digital and social media

Presentation by Steve Bowen, B-M Asia-Pacific MD of marketing, on why marketing mindsets need to change to take advantage of digital and social media

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The Brand Management Dinosaur The Brand Management Dinosaur Presentation Transcript

  • The Brand Management Dinosaur How Outdated Thinking Hampers Brand Communications Steve Bowen Singapore 30 August 2010
  • When was the last time you bought one of these? 2
  • The way we (used to?) think… 3 awareness assisted recall familiarity top of mind awareness consideration conversion ratio preference sales ratio purchase loyalty repurchase ratio
  • How the world worked 4  Message control  Limited channels  “Professional” endorsers  Big claims, largely unquestioned
  • Then and now 5  Expanded number of channels to engage / monitor Number of spots needed to reach 85% of Number of spots needed to reach 85% of the U.S. population in 1975 the U.S. population in 2008
  • Then and now 6  Greater measurability, but blurred correlation between spend and revenue Half the money I spend on advertising is wasted; the trouble is I don't know which half. John Wanamaker (attrib.)
  • Then and now 7  Decreasing control over brand imagery and associations
  • Then and now 8  Reduced audience density Which screen commands the most attention? By 2010, we estimate, television advertising could be only 35 percent as effective as it was in 1990. McKinsey Quarterly “Boosting returns on marketing investment”, May 2005
  • “In times of change, learners inherit the earth while the „learned‟ find themselves beautifully equipped to deal with a world that no longer The modern reality exists” 9 Eric Hoffer
  • So when was the last time you bought one of these? 10 Initial Consideration Set Research ? Purchase Active Consideration
  • The customer decision-making journey 11 Source: McKinsey Quarterly “The consumer decision-making journey” 2009 Vol. 3
  • The digital consumer 12 % effectiveness of consumer touchpoints Store/agent/dealer interactions 12% 26% •Word of mouth Consumer-driven marketing •Online research 21% 43% •Offline and/or print reviews Past experience 28% 37% 31% •Traditional advertising 10% •Direct marketing 5% Company-driven marketing •Sponsorship 39% •In-store product experience 26% 22% •Salesperson contact Initial Active Closure consideration consideration set Source: McKinsey Quarterly “The consumer decision-making journey” 2009 Vol. 3
  • Trusted channels 13 Source: TNS (2010)
  • Implications for brand communication  Digital is not (yet) entirely replacing traditional media • Digital channels are most effective as a vehicle of information exchange  Traditional push and pull marketing models do not translate into the digital space • Consumers are more cynical, discerning about “sales” messages • Search remain king  Budget is no longer a barrier to entry • Raising profile at the active consideration and closure phases is more cost effective than spending on top-of-mind awareness  A modern brand is not managed, it is curated • Marketers need to relinquish control of message in some areas to maintain credibility
  • The integrated marketing dynamic 15 The goal is not to channel content to audiences, but audiences to content
  • Channeling audiences to content 16 Location- Keyword based strategy Hosted Cloud content communities Social Multimedia communities Content streams
  • FROM THEORY TO PRACTICE
  • Nine simple rules for integrated brand communications 1. Define desired outcomes carefully 2. Build a strong brand narrative 3. Create repurposable content 4. Put your home in order 5. Listen obsessively 6. Shape the collective wisdom 7. Be transparent 8. Measure appropriately 9. Prepare to make mistakes
  • Define desired outcomes carefully 19 Directly financial Financial perspective: Risk Management: Has revenue or profit Is the organization better increased or costs decreased? prepared to note and respond to attacks or problems that affect reputation? Short-term Long-term Digital perspective: Brand perspective: Has the company enhanced its Have consumer attitudes owned and earned digital assets? about the brand improved? Subservient Chicken Success or Failure? Indirectly financial Source: Forrester Research “The ROI of Social Media Marketing” July 2010
  • Build a strong brand narrative 20
  • Create repurposable content 21 Co-op marketing Magazine ads Viral video TV Tie-ins Campaign Website Banner ads eDM Events Partnerships
  • Put your home in order 22 • Consistent look and Customer feel facing functions • Customer experience • Product / service Operational alignment divisions • Excellence of execution Senior • Message alignment leadership • Internal direction
  • Listen obsessively 23
  • Shape the collective wisdom 24 Heinz “Now We Can Eat” 47,248 views Brylcreem “Effortless” Heinz “It’s Not Just for Fries” 352,156 views 38,061 views
  • Be transparent “When there exists a connection between the endorser and the seller of the advertised product that materially affect the weight or credibility of the endorsement (i.e., the connection is not reasonably expected by the audience), such connection must be fully disclosed.” Federal Trade Commission: Guides Concerning the Use of Endorsements and Testimonials in Advertising http://www.ftc.gov/os/2009/10/091005 endorsementguidesfnnotice.pdf Source: The Customer Collective Blog http://www.thecustomercollective.com/Home/36101
  • Measure appropriately 26 Outcome  Define metrics relevant to the objectives of the outreach  Facebook fans are not ROI, Impact media clips have no value Output
  • Prepare to make mistakes  Mistakes happen – acknowledge, apologize and move on http://socialmediatoday.com/SMC/104490 http://www.guardian.co.uk/media/pda/2009/jun/22/twitter-advertising
  • CLOSING THOUGHTS
  • “In times of change, learners inherit the earth while the „learned‟ find themselves beautifully equipped to deal with a world that no longer The modern reality exists” 29 Eric Hoffer
  • Something to think about 30  The digital communications platform that will have the most significant impact on consumer perceptions of your brand five years from now… 2004 2006 2009 …probably doesn’t exist yet.
  • Steve Bowen Managing Director, Brand Marketing steve.bowen@bm.com @BMAsiaPacific www.facebook.com/BursonMarsteller.Asia