Marketing Today - Confluence of Mobile, Social, Data and Analytics
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Modern day marketing is powered by technology, fuelled by innovation and driven by data. With the evolution of mobile, social media and availability of big data and capabilities to process the data in real time have empowered the modern marketeer to deliver highly personalized and contextual marketing for the present day consumer. This presentation was made by me at National Business Conference in Coimbatore in a guest lecture at SKASC College.
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Marketing Today - Confluence of Mobile, Social, Data and Analytics
- 2. Let’s Take a Survey
- 4. An Average Millennial Sees 170000 Marketing Messages Before Her 17th Birthday
- 5. her brain gates out 95% of the information
- 6. So what’d a Marketer do? Don’t shout louder Don’t Interrupt Don’t treat customers like destinations for marketing messages Personalized ContextualAdd Value
- 7. The Ubiquity of Mobile Devices
- 8. PERSONAL ALWAYS ON SMART Mobile
- 9. MORE CONNECTED DEVICES = MORE DATA
- 11. 2500000000000000000 Bytes Of Data gets created every day! 2.5 Quintillion
- 12. PROCESSING POWER
- 13. Sent coupons related to pregnancy related products to the father of a teenage girl Target knew that the girl was pregnant even before her father had any idea Through analysis of data collected from her past purchases
- 14. SOCIAL MEDIA The Power of Social Media
- 17. 15000 Re-Tweets 20000 Likes in 24 Hours Average cost of advertising at SuperBowl XLVII was $4 million
- 19. Adding Value
- 20. The Last Story
- 21. Thank You Saptarshi Roy Chaudhury VP Marketing , [x]cube LABS digitalSRC.com/blog twitter.com/rishi3211us
Editor's Notes
- Good Morning to every one. So my presentation title today as you can see is Marketing Today.. I started my career in the marketing industry more than 12 years back and over the years a lot has changed. Technology has always been an enabler for marketing and in the last few years the momentum of technical advancement has been phenomenal, which in turn is effectively redefining the concept of marketing in many cases. However, before we get into any details let’s do a quick verbal survey..
- Let’s see if we can get a reply to this question in next 5 seconds. while coming here to attend the event, on your way, I am sure you have seen a bunch of hoardings and other advertisements on the road. Can you remember one of them in detail ?
- Today we are bombarded with so many ads our brain automatically learns to filter them out. Also with the advancement of technology and a consumer oriented culture, as consumers we demand more.. Not just in terms of products and services but in everything around us and marketeers need to cope up with that if they intend to connect with us in a meaningful way. Let me share some interesting stats..
- That is 10,000 marketing messages a year…
- and our brain automatically learns to identify and gate out those ads..
- The new age consumer is smarter, he is always connected; he hates interruption, he doesn’t care about generic messages, he is clear about his preferences, while he is concerned about privacy he still shares enough data about his preferences. He has immense power to make or ruin a brand, courtesy the Social Media. As a marketeer we need to connect with our audience just the way they want it and it is definitely not by interruption.. or by blowing into their ears.. Marketing messages today needs to be personalized and contextual. Modern marketing needs to add value for the consumer it is not just about promoting your product or service. In this presentation, we will talk about a few interesting and extremely powerful changes that have happened and are happening around us and see how those elements present immense opportunities for the modern day marketeer to offer personalized and contextual marketing..
- The first one to talk about is Mobile.. Mobile today has become ubiquitous and there’s enough reasons for marketeers to love it…
- If we think of it, mobile is one of the most personal devices that anybody carries.. It’s a screen dedicated only for you – that creates an ideal platform for marketeers to push extremely personalized messages and more importantly this is a device that is always on, we wake up with the alarm on our mobile and check our mails just before going to sleep.. We probably don’t spend as much time with our wives/spouse as we spend with our mobile.. Today Mobiles are smart.. and they are made smarter with all the apps and there is no end to how creatively these apps and smart features of mobile can be used today for marketing. CocaCola is known for doing various creative marketing – they were launching a TV commercial in HongKong and they wanted to ensure that it gets the maximum exposure. They took help of a mobile app – rather than me talking about it, let me show you a video..
- Isn’t that amazing ? What is more important is that today the scope of mobility is expanding beyond mobiles – from smart watch to fitness tracker, freeze, TV.. The world of Internet Connected Devices has just started to open up and the list already looks endless. What does it mean for marketeers ? With every additional device that gets added to this list we are basically creating new ways of receiving and consuming data, information and different forms of content. We are providing marketeers with more information about ourselves and it is also opening up new channels for consumers to receive the various content pushed by marketeers. At this point let me give you an interesting piece of stats
- This is what happens in a minute…and that too it isn’t considering all the data we get from wearables and other smart devices. And before you get overwhelmed with this data , here is another one..
- As per IBM, in 2012 the world was producing 2.5 Quintillion bytes of data everyday ! For those of you trying to count the zeros, let me make it easier… 1 quintillion basically means one followed by 18 zeros. And that was in 2012 by today I am sure that number has increased substantially. Now the marketeers are floating in an ocean of data..
- So the marketers today have enormous amount of data with them but is that all ? No, the data is completely useless unless you process them and technology today has evolved to process enormous amount of data in no time. Which basically helps marketers make sense of these enormous data dump and create insights from the same, slice and dice the data to create niche segments and thus personalize and put their message in context to the user’s needs. It sounds amazing isn’t it? When you know every possible detail about your customer, their behavioural traits, their shopping patterns, location, social affinity and so much more and you can use them to create highly targeted segments and then customize your message for them ? True but there are dangers to it too.. Let me talk about an incident that exemplifies the power of this personalized targeting.. Not in a very positive light though..
- Target has modified their coupon targeting policy and strategies since then but this example speaks volume about the precise targeting abilities that is available to marketeers today. Now we have been talking about enormous data being available to marketeers , now a lot of these data actually comes from Social media. How can a discussion about present day marketing go without a mention of social media ?
- Now the advent of social media has done few major impacts.. #1 – it has substantially leveled the playing field between big brands and small businesses in their ability to reach out to mass audience. Also, it has made your consumers immensely powerful – they have a place to voice their opinion and there are millions of people waiting to listen to them. What this means is that for a business each and every customer today has become extremely important – one happy customer can greatly improve the business reputation and similarly one irate customer can completely ruin the business.
- These are some snapshots of how consumers go vocal on social media for both their good and bad experience and I am sure you have done your share of it too . There are a lot of to-do’s and not to dos of social media but without getting into those let’s talk about the “Real Time” nature of Social Media. Courtesy social media, brands can reach out to their audience in real time and can get feedback from them in real time, which opens up another beautiful and exciting opportunity for marketeers. Let’s see an example..
- Any of you have seen this image before ? Is there anything special about it ?
- During 47th Superbowl, which is one of the biggest sporting event in USA, during the third quarter of the match some of the stadium lights went off for 34 minutes. During that time, Oreo’s social media team tweeted the image shown in last slide saying “power out ? No problem”. This image became an instant hit amongst social media because of the context and the result…This was done within a span of 10 minute of the incident. Of course Oreo invested in employing a social media team in general to cover the event but they did not spend a single additional penny for this.. whereas other brands advertising in Superbowl were spending approximately USD 4 Million for an ad spot. This is a classic example not only of real time marketing but also of how contextual messaging can increase your acceptability amongst your audience and how much exposure social media can provide to a brand in a short span. This also shows the muti screen tendency of today’s consumer.. I mentioned about the ubiquity of mobile earlier and an impact of that is the multi screen behaviour of today’s users – even when watching SuperBowl people are engaged on a second/third screen – that is their laptop, mobile etc, Hence it also becomes important for the marketeer to engage users across screens.
- This is a classic example not only of real time marketing but also of how contextual messaging can increase your acceptability amongst your audience and how much exposure social media can provide to a brand in a short span. This also shows the muti screen tendency of today’s consumer.. I mentioned about the ubiquity of mobile earlier and an impact of that is the multi screen behaviour of today’s users – even when watching SuperBowl people are engaged on a second/third screen – that is their laptop, mobile etc, Hence it also becomes important for the marketeer to engage users across screens.
- Having talked about all these let’s look at another key aspect of modern day marketing. In fact this has always been there, it has just gained a lot more importance in recent days because of the increasing competition. A brand needs to add value at every stage of their brand-consumer interaction. If you are just talking about your product/service and asking people to buy them, no one is interested. What people care about is what value you are adding for them? How you are helping them?
- A simple thing is you don’t remember the guy who sold you your most favourite possession but you definitely remember the person who has helped you when you were in need. Modern day marketing is about positioning your brand as that helpful friend to your consumer. Let me finish this with a small story..
- Thank you ! If you have any questions feel free to shoot..