1315 revision sponsor acxiom

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  • Captivating the consumer in times of change.
  • Highlight the red close loop
  • From Push to PullFrom broad to targeted reach
  • Major differences -- the degree of closed loopiness on loyalty but both circular.
  • Our role has also changed – we need to identify, understand, engage - highlight the corp.value of database team and experience.
  • 1315 revision sponsor acxiom

    1. 1. “ThAT WAS THEn. ThIS IS NOW”<br />How the New Consumer Decision Process Requires a New Capability Model <br />cary Zackman <br />Executive Director, Industry Business Leader<br />®<br />
    2. 2. TOPICS<br />Burying the Marketing Funnel : its all about the consumer <br />A capability model for driving customer engagement <br />Q&A<br />
    3. 3. <ul><li>Why the funnel?
    4. 4. What happened?
    5. 5. What’s next? </li></li></ul><li>CONSUMER PURCHASE DECISION PROCESS<br />
    6. 6. Car buying: 40 years ag0<br />Aware of Brands<br />Brands Under Consideration<br />Prefer<br />5<br />
    7. 7. The funnel view<br />Aware<br />Consider<br />Prefer<br />Purchase<br />6<br />
    8. 8. More consumers<br />7<br />
    9. 9. How the marketers see it<br />8<br />
    10. 10. PURCHASE FUNNEL WORKED<br />The difficulty in getting inputs was so significant that the brands had the ability to significantly alter their inclusion in various steps<br />FITS THE FUNNEL<br /><ul><li>Brand-centric, push model
    11. 11. Broad, general reach
    12. 12. Limited product choice
    13. 13. Barriers to information</li></ul>9<br />
    14. 14. The funnel:What happened<br />10<br />
    15. 15. Car buying: today<br />OUTCOME<br />PURCHASE<br />LEASE<br />WAIT<br />11<br />
    16. 16. WHAT’S CHANGED<br />THEN<br />NOW<br /><ul><li>Brand-Centric, push model
    17. 17. Consumer-Centric, pull model
    18. 18. Broad, general reach
    19. 19. Expanded, targeted reach
    20. 20. Limited product choices
    21. 21. Proliferation of product customization
    22. 22. Barriers to information
    23. 23. Interaction ends with purchase
    24. 24. Defined consumer decision timeline
    25. 25. Transparency of information
    26. 26. Post purchase feedback is key
    27. 27. Timelines will vary </li></ul>12<br />
    28. 28. THE FUNNEL: WHAT’S NEXT<br />13<br />
    29. 29. MCKINSEY<br />FORRESTER<br />: IT’S ALL ABOUT…<br />: IT’S ALL ABOUT…<br />…Engagement<br />…the consumer decision journey<br />…Aligning Marketing with the Consumer Decision Journey<br />1<br />2<br />3<br />4<br />Active evaluation<br />Information gathering, shopping<br />The consumer considers an initial set of brands, based on brand perceptions and exposure to recent touch points.<br />Consumers add or subtract brands as they evaluate what they want.<br />Ultimately, the consumer selects a brand at the moment of purchase.<br />After purchasing a product or service, the consumer builds expectations base on experience to inform the next decision journey.<br />Loyalty loop<br />Initial-<br />consideration <br />set<br />Moment of purchase<br />Trigger<br />Post purchase experience<br />Ongoing exposure<br />14<br />Image source: Steven Noble. Forrester.<br />“It's Time To Bury The Marketing Funnel.” <br />Image source:. MCKinsey. “The Consumer Decision Journey.” <br />
    30. 30. CAPABILITY MODEL FOR A CONNECTED WORLD<br />Key requirements. Separating contenders from pretenders<br />15<br />
    31. 31. SO WHAT’S NEXT<br />EXPERTS AGREE<br />ACTIONS TO TAKE<br /><ul><li>Focus on “Push”/mass media is behind us
    32. 32. Narrowcasting with relevant communications at all touch points
    33. 33. Our role has also changed – we need to identify, understand, engage
    34. 34. Role of consumer has shifted
    35. 35. Top-down models are less predictive
    36. 36. Leverage multi-dimensional insights to guide customer interactions
    37. 37. Customer engagement extends beyond purchase
    38. 38. Siloed organizational structures need to change
    39. 39. Expand and integrate valuable consumer data
    40. 40. New org structures factor in the consumer experience</li></ul>16<br />

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