Changing Role Of Marketing: New Challenges & Opportunities

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Care about learning 'Changing Role Of Marketing: New Challenges & Opportunities'. You will find this deck presented by Sanjay Mehta, Jt. CEO, Social Wavelength during Digital Marketing Webinar for Digital Vidya. Interested in attending similar Webinar Live? Register Now at http://www.digitalvidya.com/webinars/

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Changing Role Of Marketing: New Challenges & Opportunities

  1. 1. Sanjay Mehta Digital Marketing Webinar Changing Role Of Marketing: New Challenges & Opportunities Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength) www.digitalvidya.com
  2. 2. Sanjay Mehta Three key thoughts for Marketing 1. CHALLENGES OF TRADITIONAL MARKETING 2. NEW WAY: MARKETERS NEED TO LISTEN UP 3. THE NEW MARKETING MODEL, AND THE CHANGING ROLE OF THE MARKETER
  3. 3. Sanjay Mehta • You have a product or service to sell – you need to market – you need to reach your prospect with your communication • Traditional ways have been advertising, direct marketing, PR, etc. • More specifically, print advertising, TV ads ($$), hoardings • PR largely meant, building relationships with journalists • Direct Marketing: Emails (spams?!), telemarketing (how we hate those?!) and mailers (junk?) • Would need budgets and yet, not very effective in changing times • Even so, many companies use these and are dependent on these
  4. 4. Sanjay Mehta First the e s usi ess, the the usi business, then advertising. Is there any i dustry that I get i ol ed i that does ’t get destroyed y digital te h ology? - Andy Nibley, who has led Reuters, Universal Music and ad agency, Marsteller
  5. 5. Sanjay Mehta • Digital Te h allo s lie t s ulti ate fa tasy, usto ize spe ifi essage to the spe ifi o su er, at the spe ifi o e t • It s also a arketer s ight are • The iro y is that hile there e er ha e ee ore ays to rea h o su ers, it s e er ee harder to o e t ith o su ers! • Death of mass marketing is death of lazy marketing • 200 Old Spice videos made in 48 hours; more work for less money • Controlled, one-way message is now a dialogue with millions • The power of the advertiser is rivaled now, by user influence
  6. 6. Sanjay Mehta • Brands choosing to work with specialist digital, PR, social media age ies, rather tha ge eralists: looki g for the right skills • Tech challenges to what was once considered an expensive art form, e.g. creating a video (< $2K) or media planning (web ads?!) • Creativity is not that exclusive – how about crowdsourcing ideas?! • Kraft orked ith Ge ius‘o ket for o e of it s ra ds: – Against millions to agencies for one spot, got 7 spots for $40,000 – Also syndicated to web platforms for tracking, testing, sentiment analysis – For agency to be cutting edge, high overheads; GeniusRocket is a lean team
  7. 7. Sanjay Mehta Why are so a y arketi g a paig s ra d-destroyers and money-losers? Why is ra di g e o i g a de alued asset, hose retur s are d i dli g it ess Google uildi g the orld s ightiest brand with barely a penny of orthodox marketing expenditure)? Why do people and communities exact steeper and steeper discounts, price-cuts, and margin-crushing concessions from the beleaguered, besieged companies once known as the masters of the universe? The half-life of companies is shrinking and the weary practice known as arketi g, addi g little to o real alue, see s po erless to help. A strong condemnation of marketing as it stands today, by UmairHaque (HBR)
  8. 8. Sanjay Mehta • A out pushi g produ ts do • Already o erstuffed gullets of o su ers • By targeti g essages pa ked ith i agi ary e efits • I gra d a paig s that ake o er lo pro ises • “ee this eer? It s goi g to la d you a girl of your drea s! • Curre t arketi g is a out talki g dow to your usto er
  9. 9. Sanjay Mehta What Listening Up is NOT: • Stalking your customers to find their moments of weakness • Focus groups and differentiation • Data mining and then some more! • The UP is important: having dialogues about what really betters lives of people, their standards of living, and then finding real ways to make it happen for them
  10. 10. Sanjay Mehta • Genuine talk with customers – not just about their wants and needs, but also about their hopes, fears, opportunities, threats, achievements, regrets; find ways to give long term fulfillment • Empowering more people in organization to talk to customers, not just the powerless cashier or customer service rep; org change! • Letting your critics rip at you – and listening to them; empowering people to be heard, instead of shouting them out • Investing not just in market research, but in people • Asking questions that matter – and being tough to face the music
  11. 11. Sanjay Mehta New Model, New Role
  12. 12. Sanjay Mehta
  13. 13. Sanjay Mehta CONSIDER EVALUATE BUY ENJOY ADVOCATE BOND THE LOYALTY LOOP
  14. 14. Sanjay Mehta CONSIDER EVALUATE BUY BOND Allocations not just about media (TV/Print/Radio etc) but about consumer touch points! Pro ide for o - ork udgets like reati g, o itori g o ed a d ear ed edia spa es!
  15. 15. Sanjay Mehta Marketer as the Orchestrator: in charge of all Owned Media – in addition to traditional and digital marketing, also manage customer service, product literature design, product registration, warranty programs, etc. Marketer as publisher, content supply chain manager: Tons of content being produced by brands and for brands – owned and earned media; marketing to take charge Marketplace Intelligence Leader: From Google Analytics to Social Media Mo itori g data, the i sights ust reside ith arketi g hat the usto er says / does, et .
  16. 16. Sanjay Mehta THANK YOU Sanjay Mehta Joint CEO, Social Wavelength smehta@socialwavelength.com +91-98200-40918 @sm63 Acknowledgements: The Future of Advertising – Danielle Sachs Marketing Can Do Better – Umair Haque Branding in the Digital Age – David Edelman (HBR)
  17. 17. Sanjay Mehtawww.digitalvidya.com Found It Useful? Join upcoming Digital Marketing Webinar live! http://www.digitalvidya.com/webinars/

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