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Branding 2.0 & Social Media
 

Branding 2.0 & Social Media

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Branding in the new era has shifted to more engagement orientated due to the advent of Web 2.0 and Social Media.The presentation aims at how, where and when aspects of it...

Branding in the new era has shifted to more engagement orientated due to the advent of Web 2.0 and Social Media.The presentation aims at how, where and when aspects of it...

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Branding 2.0 & Social Media Branding 2.0 & Social Media Presentation Transcript

  • Branding 2.0 & Social Media Sampad Kr Swain Email : sampad.s@gmail.com http://managementchords.blogspot.com
    • Myths
    • Trends
    • Paradigms
    Agenda http://managementchords.blogspot.com
    • The same marketing techniques work every time
    • You need a multimillion budget to create a commercial
    • Marketing is all about advertising
    • Marketing is simply an operational expense
    • A perfectly executed marketing plan will guarantee success
    • Marketing’s goal is to increase sales
    • Marketing starts when you’re ready to launch
    • Innovation comes from inside
    • Never give the product / service away
    • Target the broadest customer segment
    10 Marketing Myths http://managementchords.blogspot.com
    • 18% : Proportion of TV advertising campaigns generating positive ROI
    • 54 cents : Average return in sales for every $1 spent on advertising
    • 56% : Proportion of people who avoid buying products from companies who they think advertise too much
    • 256% : The increase in TV advertising costs in the past decade
    • 84% : Proportion of B2B marketing campaigns resulting in falling sales
    • 100% : The increase needed in advertising spend to add 1-2% in sales
    • 90% : Proportion of people who can skip TV ads who do skip TV ads
    • 14% : Proportion of people who trust advertising information
    • 80% : Market share of video recorders with ad skipping technology in 2008
    • 95% : The failure rate for new product introductions
    • 117 : The number of prime time TV spots in 2002 needed to reach 80% of adult population – up from just 3 in 1965
    • 3000 : Number of advertising messages people are exposed to per day
    • 65% : Proportion of people who believe that they are constantly bombarded with too much advertising
    • 69% : Proportion of people interested in technology or devices that enable them to skip or block advertising
    Crisis in Mass Marketing http://managementchords.blogspot.com
  • “ In many organizations, the corporate marketing function has lost budget, head count, influence, and confidence, resulting in strategic consequences than run deeper than many managers may realize.” Source: The Decline and Dispersion of Marketing Competence. 2006 MIT Sloan Management Review Status of Marketing Management http://managementchords.blogspot.com
    • Green
    • Karma Capitalism
    • Authenticity not transparency
    • Democratized advertising
    • WOMM
    • Controversy
    • Market space
    • Social media
    • Trusted social media advertising
    • Online paid search ads
    http://managementchords.blogspot.com 10 Trends you will hate to miss
    • Traditional advertising
    • Monologue
    • Market place
    • Classical 4P’s paradigm
    http://managementchords.blogspot.com Out of the Basket
  • The “ Traditional Marketing” model is being challenged, and (CMOs) can foresee a day when it will no longer work. McKinsey Quarterly, 2005, Number 2 http://managementchords.blogspot.com
  • State of the Web World http://managementchords.blogspot.com
  • Global Online Population
    • Currently about 1.2 billion
    • Projected to grow to 1.8 billion by 2010
    http://managementchords.blogspot.com
  • http://managementchords.blogspot.com
  • http://managementchords.blogspot.com
  • WEB 1.0 v/s WEB 2.0 http://managementchords.blogspot.com
  • http://managementchords.blogspot.com THE NEW WORLD ORDER OF WEB 2.0
  • http://managementchords.blogspot.com Source:http://www.sifry.com/alerts/archives/000493.html 70+ Million Weblogs
  • Social Media Social media describes the online technologies and practices that people use to share opinions, insights, experiences, perspectives and media itself. Social media can take many different forms, including text, images, audio, and video. These sites typically use technologies such as Blogs, message, boards, podcasts, wikis, and vlogs to allow users to interact. Source: Wikipedia http://managementchords.blogspot.com
  • Word of Mouth Marketing
    • WOMM: Umbrella term
      • Buzz marketing
      • Viral marketing
      • Influencer marketing
      • Evangelist marketing
        • Turning most loyal customers into citizen marketers
      • Street marketing
        • Interacting at popular offline places like Buzz Oven
      • Stealth marketing
    Source: Justin Kirby, & Paul Marsden (2006). Connected marketing . Oxford, UK: Butterworth-Heinemann. 198 YouTube Buzz Oven Bree http://managementchords.blogspot.com
  • Some of the reasons for relying on WOMM
    • 10% INFLUENCE PURCHASING BEHAVIOR OF OTHER 90%
    • 91% LIKELY TO BUY ON RECOMMENDATION
    • EMERGENCE OF THE ERA OF “PROSUMERS” – Producer & Consumer of Information
    http://managementchords.blogspot.com
  • Widget Marketing Cool plug-n-play things for your sidebar http://managementchords.blogspot.com
  • Mashup Example of Google Maps mashup on MySpace account. http://managementchords.blogspot.com
  • Old 4P’s Paradigm 4Ps Value Creator Customer http://managementchords.blogspot.com
  • New Paradigm 4Ps Value Innovator Customer Product Brand http://managementchords.blogspot.com
  • It’s About a New Dimension
    • It’s not about a cheaper product or your idea. Try to change customer behavior.
      • It’s not about better coffee – it’s about the place
      • I am not looking for a ¼” drill machine – I need to make a hole
      • It’s not about the hog, it’s about a lifestyle
      • It’s not about the sound – it’s about how it makes me feel
      • It’s about your choices, places, and time
      • It’s about my space
      • It’s about my video
      • It’s about my opinion
      • It’s about the experience
    • Examples
      • Apple, Starbucks, JetBlue, MySpace, Harley-Davidson, Tivo.
    Product Innovation Marketing Innovation http://managementchords.blogspot.com
  • Implications
    • Reached the tipping point
    • The static web maturing
    • Monologue marketing out
    • Live Web (a/k/a Blogosphere) is making information transparent as well as authentic
    • Word travels fast
    • People are more likely to act on a peer’s recommendation by factor X
    • Marketing is a reflection of social paradigms
    • The new social media and networks changing customer expectation and behavior
    http://managementchords.blogspot.com
  • So what should we do about it..?? http://managementchords.blogspot.com STOP CALLING ME A CONSUMER. I AM A PERSON
  • The power has shifted…!!! Anytime - Any Place - Any Way http://managementchords.blogspot.com
  • http://managementchords.blogspot.com
  • We are in Attention Economy… http://managementchords.blogspot.com
    • WHAT SHOULD
    • BE DONE?
    http://managementchords.blogspot.com
  • Rule 1. Brand as story-tellers… http://managementchords.blogspot.com In a million channel world, brands whose consumers tell the best stories, win
  • Rule 2. Let them “Talk” about you… http://managementchords.blogspot.com If you want them to talk about you, make them.. LOVE HATE YET NEVER LEAVE THEM INDIFFERENT YOU Brands people talk about make “Meaning Beyond Money”
  • Rule no 3. Create Empathy, Understanding & Openness. Investigating (3rd party research, reports, etc.) Talking + Walking With People (ethnography, observation, etc.) Sharing What We Know (connectivity, shared experiences + knowledge) Learning By Doing (experimentation, usage, adoption) http://managementchords.blogspot.com 1 2 3 4
  • Rule 4. Use different medium to touch your customers http://managementchords.blogspot.com
  • Business as an Ecosystem http://managementchords.blogspot.com GROW WITH YOUR CUSTOMERS
  • Sampad Swain Email: sampad.s@gmail.com http://managementchords.blogspot.com