Curating Demand: Marketing in a 24/7 world
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Curating Demand: Marketing in a 24/7 world

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How new models for engagement are changing marketing practices.

How new models for engagement are changing marketing practices.

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    Curating Demand: Marketing in a 24/7 world Curating Demand: Marketing in a 24/7 world Presentation Transcript

    • CURATING DEMAND: Marketing in a 24/7 world December 2013 Better Business Club HUB Sydney
    • Scope of the session • • • • • • Promise Connectivity Driving demand Why curation matters Curating demand Lessons
    • PROMISE To demonstrate that marketing is moving from traditional sales model to contextspecific model. To examine how curating content assists in the context-specific model.
    • Always on world Image source: http://www.flickr.com/photos/xapoh/8445654458/
    • ALWAYS ON: CONNECTED WORLD Audiences are constantly accessible and seek two-way interactions with firms. Image source: http://www.flickr.com/photos/bethscupham/7663247816
    • Connected behaviours Australians are active users of social media TWITTER: 2.5 MILLION FACEBOOK: 12 MILLION LINKEDIN: 3.5 MILLION INSTAGRAM: 1.6 MILLION
    • Interacting with audiences Expectation of increased use of technology-oriented channels for interactions between businesses and audiences. Image sources: http://www.flickr.com/photos/yourdon/3880471209; http://www.flickr.com/photos/westmidlandspolice/8230122900
    • DRIVING DEMAND: TRADITIONAL vs NEW MARKETING Demand no longer a matter of driving sales as an end-point of interactions. Image source: http://www.flickr.com/photos/mkhmarketing/8527527570
    • Customer/sales funnel Traditional funnel is based on sales approach. AIDA – Awareness, Interest, Desire, Action With this form of marketing, a sale is the end result of marketing strategy. The process is linear. Any activity after sales is considered a customer service issue.
    • Traditional funnel is dead CONTEXT RESPOND ACQUIRE ENGAGE CONVERT “Which has more impact on retention and repeat purchases: customer satisfaction or customer engagement/relationship? “The answer was consistent across our B2B and B2C research: Engagement/relationship strength has 12 times more influence on retention and repeat purchases than satisfaction” Voice of the Consumer Marketing Research, September 2013 http://www.dmnews.com/the-sales-funnel-is-dead/article/312056/
    • Driving demand Cyclical nature of business-audience communication means demand is generated from a commitment to communication. Audiences more likely to be loyal when their voices are heard, their ideas enabled. Marketing practice needs to emphasise listening aspects rather than ‘controlling the brand message’
    • THE ART OF CURATION: WHY IT MATTERS Curation of quality content provides a starting point for conversations; it creates context. Image source: http://www.flickr.com/photos/seeminglee/8979289432/
    • Context is king …. NOT content. Content should be planned for facilitating contexts for conversation, information sharing, product development, market research. x CONTENT Marketers, PR professionals, firms, brands DO NOT CONTROL THE MESSAGE.
    • Curation generates trust Curation is the art of using objects, ideas and art to tell a unified story. COMPANY OBJECTIVES AUDIENCE INTERESTS CURATED CONTENT (Ie: CONTEXT) Content that will contribute to the story must reflect organisational objectives that intersect with audience interests and motivations. Trust is fostered where the content and the story are coherent and of high quality.
    • Nothing saves bad products Bad products will always exist, but brand/product lifecycle will be shorter, and customer experiences will determine the date of product demise. Any attempt to flood content markets with positivity without dealing with poor customer and product experiences will ultimately fail. Attempts to deliberately mislead the public with astroturfing could have legal ramifications. Image source: http://www.buzzfeed.com/babymantis/30-really-unfortunate-product-names-1opu
    • SOCIAL WILL EMPHASISE BAD BIZ PRACTICE JP Morgan idea for Q&A with Vice Chairman, Jimmy Lee, resulted in hashtag epic #FAIL
    • CURATING DEMAND: GROWTH FROM CONTEXT Loyalty drawn from investment in audience conversations, engagement. Image source: http://www.flickr.com/photos/ferranp/317125624
    • Context and growth Data now being used to target specific audiences in a manner that will meet their needs as they arise. Context-relevant marketing can drive spontaneous purchasing, but unless this is backed up by ongoing relevance, the advantage is lost. No point pursuing context-driven marketing if conversation is short-lived.
    • Demand as value In context-driven marketing, demand is driven by ongoing value to audience of the continuing conversation. That is, there is a direct correlation between value and demand. When considered as an indicator of value, demand can be more usefully calculated as the product of context/audience relevance and reducing costs of manufacturing/delivery.
    • Understanding value • Value: benefit from a good/service • Utility: aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods/services • Price: market rate at which goods/services are exchanged • Economic cost: amount paid for a good/service when compared with alternatives. This includes total, variable, fixed, marginal and opportunity costs
    • Volume versus value Most marketers are obsessed with volume – of sales, of followers, of interactions, etc. VOLUME IS NOT AS IMPORTANT AS VALUE. While most organisations have a target of volume as a key performance indicator (KPI), this is often poorly applied, as the best profitability/efficiency is by increasing margins/relevance rather than increased sales.
    • LESSONS Hopefully not absolutes, but probably still painful for traditional marketers
    • DEMAND: INTEREST DRIVEN If your audience doesn’t need what you have to share, it’s just noise. Branding isn’t that interesting. Image source: http://www.flickr.com/photos/34094515@N00/469622180
    • DEMAND DRIVEN BY MUTUAL INTERESTS, NOT BRAND MESSAGING
    • CURATION: DON’T MISLEAD It’s cowardly, and stupid. And audiences will bite you. Image source: http://tobacco.stanford.edu/tobacco_main/index.php
    • CURATION INVOLVES DEEP RESEARCH
    • CURATION: DON’T TRIVIALISE Hire intelligent, creative people, not people who think like you do. Research. Critically review. Reflect. Learn. Image source: http://www.flickr.com/photos/27556613@N04/3925451343
    • CURATION INVOLVES DEEP RESEARCH, CREATIVITY, SENSITIVITY
    • CURATING DEMAND: EVALUATE Measure demand by value, not volume. Image source:http://www.flickr.com/photos/29412527@N04/3392572477
    • VALUE, NOT VOLUME, GENERATES ROI
    • PROMISE: REVISITED To demonstrate that marketing is moving from traditional sales model to context-specific model.  To examine how curating content assists in the context-specific model. 
    • CONTEXT CREATES CONNECTIONS Image source: http://www.flickr.com/photos/gsfc/8704629249
    • CONVERSATION CREATES OPPORTUNITIES Image source: http://en.wikipedia.org/wiki/File:Giant_photovoltaic_array.jpg
    • Joanne Jacobs, COO Thank you  t: m: e: +61 2 9251 0492 0419 131 077 joanne.jacobs@1000heads.com Any questions, let me know!
    • EXAMPLES • Prius: http://www.youtube.com/watch?v=nUor4gdFoyg • Oreo: https://twitter.com/Oreo/status/298246571718483968/photo/1 • Melbourne Metro: http://www.youtube.com/watch?v=IJNR2EpS0jw; http://www.theage.com.au/victoria/safety-message-may-be-falling-off-201309142trrr.html • Cadbury: http://www.youtube.com/watch?v=uHtDRw4ujYw • Heineken: http://www.businessinsider.com.au/heineken-holds-instagram-scavengerhunt-2013-9 • Fruit of the Loom: http://www.nytimes.com/2013/10/04/business/media/fruit-of-theloom-sees-workers-in-their-underwear.html?_r=3& • Non-profits: http://www.nonprofithub.org/featured/the-top-4-nonprofit-social-mediacampaigns-of-2013-and-what-you-can-learn/