Forget Kotler - the new rules of marketing - a presentation by Mahesh Murthy of Pinstormsummit chennai share

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Kotler's 4P's framework is no longer relevant in this digitally-connected world. So what are the new rules of marketing? This presentation by Mahesh Murthy of Pinstorm delivered at the Social Media Summit Chennai in Nov 2011 attempts to answer the question.

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Forget Kotler - the new rules of marketing - a presentation by Mahesh Murthy of Pinstormsummit chennai share

  1. Forget Kotler.The 20 new rules of marketing.
  2. Two ways to look at the future: blue-sky.And extend key parts of the present.Gibson: The future’s already here.It’s just not evenly distributed.
  3. We all grew upwith Kotler’s 4P’s.Product.Pricing.Placement.Promotion.
  4. These date back to 1959.Real-time Brand ManagementLet’s see what’s happening today.
  5. Product: Neurons beat atoms + + = = + +
  6. Pricing: Variability beats fixed. > >
  7. Placement: Everywhere beats some places
  8. Promotion: Less beats more
  9. It’s time to let goof the 4Ps.They’re almostmeaningless.And where they’renot, they’reuseless.
  10. Things have changed.Real-time Brand ManagementSo what are the new rules?
  11. 1. Digital is not niche anymore. It ismainstream. Even in India.
  12. Here’s the current picture we see Desktop Mobile Net Net users: users: 85m 80m Indian net users: 135m Indian C&S homes: 105m Star Plus viewership: 25m ToI national circulation: 7m
  13. Critically, Indian internet users have already crossed Cable &Satellite TV households. Soon social media users will, too. Net users 160m 150m 140m 130m SM users 120m 110m C&S hh 100m 90m 80m 70m 60m 50m 40m 30m 20m 10m 2007 2008 2009 2010 2011 2012 2013
  14. And here’s the picture we see for 2014 Mobile Desktop Net Net users: users: 225m 150m Indian Net users: 300m Indian C&S homes: 140m Star Plus viewership (?): 35m ToI national circulation (?):10m
  15. Arguably, digital is the medium whereproperties have the largest reach inIndia. Larger than any TV channel orprint pub.
  16. No TV or print property matches these digitalproperties in reach in India.Property Viewers/mth Views/mth Time/viewGoogle 105m 5 8 minFacebook 38m 10 25 minYahoo 28m 7 12 minYouTube 23m 4 18 minBlogspot 16m 3 7 minWikipedia 12m 3 9 minRediff 12m 5 14 minOrkut 11m 5 10 minIPL on TV (SEC A/B) 6m 5 24minStarPlus (SEC A/B) 5m 3 13min
  17. 2. It’s not just the users of digital that beatothers. But the usage of digital does too.
  18. More than the rise in users the story isthe rise in usage (IMRB/IAMAI)
  19. 2 hrs 15 mins a day rivals orexceeds TV consumption.
  20. Anybody who tells you digitalis a small and unremarkableniche or ‚a 2% medium‛ iseither blind, ignorant, sells TVor Print or all of the above. 
  21. 3. Users andusage are great. But the cost – often free – is the best bit.
  22. No TV or print property matches these digitalproperties in reach in India. Or cost.Property Viewers/mth Views/mth Time/view CPT (Rs.)Google 100m 5 8 min 0-50Facebook 38m 10 25 min 0-30Yahoo 28m 7 12 min 100YouTube 23m 4 18 min 0-125Blogspot 16m 3 7 min 0-50Wikipedia 12m 3 9 min 0Rediff 12m 5 14 min 80Orkut 11m 5 10 min 0-30IPL (SEC A/B) 6m 5 24min 150Star+ (SEC A/B) 5m 3 13min 100
  23. If you want to reach the mass in India,conventional wisdom says you buy adson IPL on TV.A match rates 3.5% TRP. That’s 1mSEC A/B homes. Or 2.5m people. AtRs. 1 lakh per ad-secondFacebook alone delivers 6.75m (mostlySEC A/B) daily. For as little as free.
  24. 4. Social is the fastest- growing digital medium.
  25. Regular portal users: Average (+12%)
  26. Portal usage has stagnated at sameshare, or lagged behind growth.
  27. The growth isn’t from ‘traditional’digital media.
  28. Social network users: Blogspot (+196%)
  29. Social network users: YouTube(+219%)
  30. Social network users: LinkedIn (+308%)
  31. Social network users: Facebook (+615%)
  32. Social has taken over. Average (+250%)
  33. 5. The best statistic about digital isn’t astatistic. It’s the most trusted medium.
  34. If social media buzz is not managed well,reputations built over lifetimes can shatter in days
  35. If social media buzz is not managed well,reputations built over lifetimes can shatter in days
  36. Shattered reputations can cost billions
  37. Or even topple governments: Arab Spring
  38. 6. Digital lets you side-step publishers – andbecome one yourself.
  39. Your own newspaper / TV channel with a opt-in viewership of millions.For free.
  40. 7. Competing on digital doesn’t need largebudgets. Digital helps Davids beat Goliaths.
  41. Once a brand with a Rs. 20 cr adbudget feared another with aRs. 200 cr ad budget.
  42. Once a brand with a Rs. 20 cr adbudget feared another with aRs. 200 cr ad budget. No longer.Media budgets don’t make a bigdifference.Now it’s a fight between people – orcreative budgets. Rs. 25k a month?Rs. 2.5l a month? Rs. 25 l a month?
  43. Is your story worth repeating?Are you being remark-worthy?
  44. 8. Media is vacating editorial to become marketing. Marketing can now take on editorial leadership.
  45. It’s not aboutadvertising –but your owneditorial.
  46. It’s not about advertising – butyour own editorial.
  47. 9. Number of fans is irrelevant.Your edge rank drives relevance.Edge rank is driven by engagement.Measure engagement.
  48. Edge rank in action: Updates can reach no one.
  49. Getting a fan is a waste of money ifyou don’t get engagement.
  50. A note on Facebook engagementmetrics Unprompted Engagement: E1: 1000+ Prompted Engagement: E2: 2000+ Passive Engagement: E3: 5000+
  51. Performance metrics, engagement levels
  52. E1 scores
  53. E2, E3 scores
  54. 10. Campaigns used to be built in months. Now they need to be built in minutes.
  55. The marketing manager’s job is nowvery different.
  56. 3 years versus 3 months
  57. 3 months versus 3 weeks.
  58. 3 days versus 3 hours
  59. Politicalads?Lawyersads?
  60. Flipkart?Landmark?
  61. 11. The whole process needs tochange: 1st step.
  62. It stars with research – or activelistening LISTEN
  63. This brand is talked about more than 7,000times a day. Others twice as much.
  64. Google Alerts is not tracking.That tracks <0.5% of mentionsof your brand typically.
  65. It’s not technology.It’s not services.It’s both.
  66. 12. The new process continues – withimmediate action.
  67. LISTEN REACT
  68. 13. Afterlistening andreaction comesthe analyticsand planning.
  69. PLANLISTEN REACT
  70. Analyse and report trends
  71. Sentiment analysis
  72. Competition tracking
  73. Issues faced by Mobile Services Customers Figures for September reflect overall trend
  74. 14. After listening,reacting, planningcomes the pro-action
  75. PLANLISTEN REACT PRO-ACT
  76. Social Media properties created
  77. On Twitter.. Reactions to our tweets!
  78. 15. The process continues, relentlessly. 7days a week.
  79. PLANLISTEN REACT PRO-ACT
  80. Some brand customers are moreactive on weekends. Does that meanwe won’t talk to them because wedon’t work weekends?
  81. Pinstorm creative teams now work inshifts. Some day others will, too.
  82. 16. The big change is not in how agencieswork – but how marketers need to work.
  83. Looking at the process again
  84. PLAN LISTEN REACT PRO-ACT Brand Marketing, Corporate Communications,Customer Service Product Marketing, Brand Marketing Employer branding
  85. PLAN LISTEN REACT PRO-ACT Brand Marketing, Corporate Communications,Customer Service Product Marketing, Brand Marketing Employer branding
  86. What happens if you’re notcoordinated?
  87. It’s easy to get it wrong in digital:short-term thinking, non-integrated work
  88. It’s easy to get it wrong in digital:focusing on SMM & not ORM
  89. It’s easy to get it wrong in digital:different teams on ORM, SMM
  90. It’s easy to get it wrong in digital:look, feel and action that is different everywhere
  91. How will you re-organise?
  92. 17. It’s about training people to speak likeyou do.
  93. Find and define your voice – and tone of voice.
  94. 18. It’s not about being a generalist. Or a specialist. But about being a multi- specialty agency.
  95. Digital is increasingly not about specialization.But about multi-specialization. Directory listing SEMSVOSMM Site/SEO ORM E-comComp. Optimi-Track sation Online Evangelist Mgt
  96. The era of the specialist is over.Pinstorm started as a pure SEM firm 8 yrsago. Now none exist.No pure-SEO, pure-display, pure-site devfirms exist any more either.Today’s pure-social firms will disappear too.Multi-specialists will survive.
  97. 19. You need to map out an entirely new set of channels – or evangelists.
  98. Database of3,500+:Essential tobuildingbespokeevangelist lists
  99. 20. The new bookon the rules ofmarketing is yetto be written.It’ll take people,technology andboldness to createthis future.Partner with a co-explorer.
  100. mahesh@pinstorm.com@maheshmurthy+91 98922 49969

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