iPod Nation

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iPod Nation - Presentation Transcript

  1. Presented by: Mr. Stacy Gentile President / CEO of Jordan Philips A Fresh New Look at Marketing / Advertising
  2. It is a brandcentric world that we are living in… think of it as iPod Nation . If you create a brand that’s truly “unique” and “amazing” then you will have fanatical customers who will be willing to pay anything to be part of “who” you are.
  3. About this presentation: Independent Data
    • Talked to over 100 companies ($25MM-500MM)
    • Plunkett’s Advertising Almanac
    • Ad Age
    • Gartner
    • Accenture
    • US Department of Labor
    • American Marketing Association
    • American Advertising Federation
    • Newspaper Association
    • Association of National Broadcasters
    • Universal McCann
    • Spencer Stuart
    • Info USA
    • The CMO Council
    • CMO Magazine
    • Forrester Research
    • And Numerous books, articles and whitepapers
  4. About this presentation: Anecdotal Information
    • Tom Peters
    • Seth Godin
    • Hal Becker
    • Jay Abraham
    • Patricia Fripp
    • Michael Treacy
    • Chet Holmes
    • Al Reis & Jack Trout
    • Jack Morton
    • Berndt Schmitt
    • Numerous Real World Experiences
  5. “ small changes to small things gets small results. The iPod Nation is about… BIG changes to BIG things and getting BIG results”
  6. Discussion Topics 1. The Marketplace 2. Look at 2 different models 3. The 7 Secrets to Success 4. How a Credit Union went iPod
  7. The iPodization of Your Marketplace
  8. The iPodization of your marketplace: How Customers Decide
    • Super Fast
    • Super Informed
    • Super Bad
    • More choices and less time means
    • its harder than ever to get your point
    • across.
  9. The iPodization of your Marketplace: Customer Choice
    • Similar
    • Payless
    • Ford
    • Folgers
    • Casio
    • Jones New York
    • Steven Segal
    • Green Bay, WI
    • The Practice (abc)
    • Spectacular
    • Ferragamo
    • Ferrari
    • Starbucks
    • Rolex
    • Armani
    • Brad Pitt
    • Las Vegas, NV
    • Survivor (cbs)
  10. You Have 15 Seconds Why should we buy from you?
  11. Most companies think they are unique but really… They are selling a SIMILAR product or service using a SIMILAR pitch with a SIMILAR price and SIMILAR support which is being sold by SIMILAR sales people using SIMILAR sales strategies in SIMILAR environments with SIMILAR quality and everyone is getting SIMILAR results. - tom peters: Re-imagine
  12. The iPodization of Your Marketplace: Customers Under Assault
    • 3K ad impressions daily
    • 40K products in supermarkets
    • 50 varieties of Tylenol
    • 30K new books every year
    • 324B business documents
    • 72B new documents every year
    • 14K radio stations
    • 2K TV stations
    • 500K words in the NY times
    • 80 emails a day to most execs
    • More more more never ending…
    • ARE YOU BREAKING THROUGH THE NOISE?
  13. The iPodization of Your Marketplace: How Customers Respond
    • Screening (less than 1 sec)
      • What gets in
      • Associations with “like ___”
    • Super Networked
    • Vigilante Mindset
    • ARE YOU MAKING THE FIRST CUT?
    • WHAT ARE YOU ARE MOST LIKE ?
  14. The iPodization of Your Marketplace: Customers Want Value
    • The 4 Pillars of Value
    • Knowledge
    • Relevance
    • Differentiation
    • Esteem / Ego
    • Perceived “Value” must outweigh price,
    • if it doesn’t then “commodity” pricing
    • wars start
    • THE iPod IS A HOMERUN IN ALL 4
  15. The iPodization of Your Marketplace: Customers Want Experiences
    • Defined as a 1 to 1 engagement where the customer becomes a key participant with the product, its information and what the brand stands for
      • 70% would increase buying consideration
      • 57% would buy faster
      • 80% would share their experience with a friend
      • 66% would attend a live event if they heard
      • about it from a friend
    • Number of companies with a CXO = 0
    • Buying is emotional
  16. The iPodization of Your Marketplace: Other Market Influencers
    • Access to Information
    • Networked Communities
    • Rapidly Changing Standards
    • Pressure on Innovation
    • Flat Org Charts
    • Me, Inc. / Free Agent Employees
    • Qualified Labor Pool Shortage
    • Lean Corporations
  17. The iPodization of Your Marketplace: The Takeaway
    • More competitive for customers attention
    • Increasing pressure on price
    • More pressure on Innovation and value
    • COMFORT WAS A THING OF THE PAST
  18. Moving Away From Traditional Advertising to iPodization Strategies
  19. Destruction
  20. “ Revenue” VS. “Cost”
  21. Moving away from the Traditional to iPodization: Who is Responsible
    • 62% of companies don’t have a CMO
    • Resulting in:
    • Overburdened “sales” focused CEO
    • Lack of unified brand message
    • Lack of big picture insight / processes
    • No passive prospecting efforts
    • And lots more
    • MARKETING IS A FULL-TIME JOB
  22. Moving away from the Traditional to iPodization: Budgeting Accordingly
    • 2-3% of gross revenues is US avg.
    • 20% matched industry peer group
    • 10-25% of budgets went to wrong places
    • Traditionally first to get cut
    • More than 70% don’t have formal budgets
    • FLYING BLIND IS RISKY BUSINESS
  23. Moving away from the Traditional to iPodization: What Companies are Budgeting
    • Industry % of Revenue % of Profit
    • Apparel 3.7 9.0
    • Construction 0.3 1.1
    • Department Stores 3.5 10.4
    • Eating Places 3.2 14.3
    • Employment Agencies 2.2 6.1
    • Finance Lessors 1.5 1.8
    • Furniture Stores 5.9 14.6
    • Health Services 4.9 13.1
    • Insurance Services 1.7 2.6
    • Misc Manufacturing 1.5 2.9
    • Mortgage Bankers 1.4 2.5
    • Offices of Medical Dr.s 12.0 64.5
    • Personal Services 3.8 11.6
    • Real Estate Brokers 14.0 56.3
  24. Moving away from the Traditional to iPodization: Two Very Different Budget Models
  25. Moving away from the Traditional to iPodization: Over Investing in Traditional Media
    • Make it easy for the 3% to find you
    • ID and hit that 7% hard
    • ID and trickle feed the 60%
      • Knowledge
      • Relevance
      • Differentiation
      • Esteem / Ego
    • ID and forget about the 30%
    • P&G realized this
    • So did AT&T
  26. Moving away from the Traditional to iPodization: Over Investing in Traditional Media
    • Key Problems with the Old Model
    • 90% of sale literature doesn’t actually get used by sales people
    • No money for:
      • Target Innovation
      • Sales Tools
      • Training (Brand “U”)
      • Market Research
      • Truly Focused Campaigns
      • Guerilla / Non-Traditional
      • Buzz / PR
      • Conversational marketing
      • Experiential efforts
  27. We don’t have a budget…at one time we ran a bunch of ads…didn’t know what we got in return, so we had our sales people start calling a bunch of people.
  28. Moving away from the Traditional to iPodization: Over Investing in Traditional Media
    • Traditional Media Under Fire
    • Budgets increase 7-10% annually
    • Low confidence (CMO & CEO)
    • Ad skipping technology
    • Declining
      • TV viewer-ship
      • Newspaper subscriptions
      • Radio listening audiences
    • New telemarketing rules
    • Tracking & Measuring ROI
  29. Don’t Trust Frequency Theory
  30. Moving away from the Traditional to iPodization: The Takeaway
    • Downward Spiral (Cost Cutting Budgets)
    • Relying on an old ineffective model
    • Increasing pressure on ROI
    • BUYING MORE ADS WON’T
    • GET MORE RESULTS
  31. The 7 Secrets to successful marketing in the iPod Nation
  32. The Real Secret is the Passion To Be The Best
  33. The 7 Secrets: 1. The Core Story
    • Experts have data
    • Alters buying criteria systematically
    • Known throughout the organization
    • Found in all materials, conversations, and presentations
    • Able to be repeated and shared by customers
    • Tell Stories
    • A CONVINCING REPRESENTATION OF
    • WHY YOU EXIST
  34. The 7 Secrets: 2. Market Research
    • Only 30% have conducted formal market research
    • Less than 20% have in the last year
    • Less than 10% have ever conducted secret shopping
    • Almost all of those who did secret shopping used it to drive service objectives and market strategy
    • WHAT YOU RESEARCH IS IMPORTANT TOO
  35. The 7 Secrets: 3. Target Innovation
    • Create your own future
    • Build for your “Profit Center” customers
    • 85% of companies claim best quality products or service
    • Leverage Pareto’s Principle (80/20 rule)
    • Less than 10% budget for R&D
    • BUILD SOMETHING THEY CAN’T LIVE WITHOUT
  36. The 7 Secrets: 4. Target Marketing
    • More than 90% have conducted some type of targeted marketing effort
    • Typical response rates are .05-2%
    • True target marketing typically yields response rates of 34-50%
    • True target marketing becomes viral
    • YOU WANT FANATICAL CUSTOMERS
    • *see premise
  37. The 7 Secrets: 5. Experiential Selling & Servicing
    • Touchpoint Enhancements
    • Facility Design
    • Pitches / Presentations / Proposals
    • Events (Live, Ambush, Pop-up)
    • The Core Story
    • Your People
    • EXPERIENCE…FEEL…SHARE…RELATE
  38. The 7 Secrets: 6. HR & The Brand University
    • Executive survey by Accenture…
    • 75% said their people weren’t at industry leading level
    • 90% said their people fail to understand strategic priorities
    • 87% said their people don’t connect their jobs to strategic goals
    • BRAND UNIVERSITIES TEACH HOW
    • TO ACHIEVE STRATEGIC GOALS
    • Ritz Carlton & Disney
  39. The 7 Secrets: 6. HR & The Brand University
    • Hire lifters not leaners
    • Sets performance standards
    • Regular training (product / service / attitude)
    • Various levels (executive, manager, front line)
    • Integrated into the marketing process
    • Orientation programs for new hires
    • Driven by real time status on goals
    • KNOW THE PRODUCT: MAKE IT FUN TO BUY
  40. The 7 Secrets: 6. HR & The Brand University
    • A little change in language means everything
    • If you owned a hair salon…
    • do you cut hair
    • or make beautiful people
    • If you owned a restaurant…
    • do you wait on tables
    • or guide people through a culinary delight
    • Major impact on employee and customer mindset
  41. Marketing in the iPod Nation: 7. Accountability
    • 90% of CEOs say this is a top priority
    • 20% have comprehensive framework to do so
    • 65% of CMOs and 90% of CEOs want better accountability with marketing
    • That’s a 25% difference of opinion
    • Among the 100 largest brands in the US the average tenure of a CMO is 23 months compared to CEOs who is 58 months
    • If 50% of your marketing was broke would you know which 50%?
    • If you cant measure in real time then you can’t adjust either
  42. Marketing in the iPod Nation: 7. Accountability
    • Traditional media can be tracked
    • Non-Traditional is more measurable
    • Being able to track means you can adjust
    • IT’S YOUR MONEY…KNOW WHERE IT’S GOING
  43. The 7 Secrets: The Takeaway Departmental silos will inhibit your true potential. Align Marketing with Sales and HR and do it in a way that brings in accountability.
  44. The iPodization of a small Credit Union
  45. The iPodization of a small Credit Union: In The Beginning
    • Small local 5 branch Credit Union in Wisconsin
    • Revenues of $155MM
    • Running billboard, radio, print and sponsorships ($250K.yr)
    • Ranked 6 in their market
    • #1 and #2 competition 10x bigger
    • #1 and #2 were flooding the market with media (rate game)
    • Pressure on mortgages, consumer loans and membership
  46. The iPodization of a small Credit Union: The BIG Changes
    • Pulled all existing media
    • Did some minor brand / image enhancements
    • Built a completely new 12 month go to market plan
    • Kick off meeting where we shared the new vision
    • New Mission Statement (Best credit union on the planet)
    • Started a 12 month secret shopping program
    • Developed a number of unique programs / language
    • Created an internal Brand University with 3 colleges
    • Hired a new HR director
    • Transformed the facilities
    • Hired 8 people for a Guerilla marketing team
    • Migrated their $250K marketing budget to an 20%(trad)-80%(non trad) split
    • Brought accountability into the marketing mix
  47. The iPodization of a small Credit Union: The BIG Changes In a short span of 8 months …memberships, checking accounts, and loan volumes are all exceeded their goals. A recent industry survey ranked them #1 in the nation for customer satisfaction based on their size.
  48. The iPodization of a small Credit Union: The Takeaway This isn’t impossible It’s going to take time, money, and effort We know this model works IF NOTHING CHANGES…NOTHING CHANGES
  49. If you create something that’s truly “unique” and “amazing” then you will have fanatical customers who will pay anything to be part of “who” you are.
  50. One Final Thought: Apathy Kills Companies
    • Played it Safe
    • Yahoo
    • GM
    • IBM
    • Kmart
    • State Farm
    • Kodak
    • Mr. Coffee
    • Imus
    • USA
    • China
    • The along came…
    • Google
    • Toyota
    • Dell
    • Wal-Mart
    • Progressive
    • Sony
    • Hamilton Beach
    • Howard Stern
    • China
    • Indonesia
  51. My Turn to Shut up and Listen
  52. Thank You visit the blog: www.stacygentile.com
  53. Q & A Questions by Phone 1-414-305-5449

+ Stacy GentileStacy Gentile, 3 years ago

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