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Marketing 3.0
 

Marketing 3.0

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    Marketing 3.0 Marketing 3.0 Presentation Transcript

    • MARKETING  3.0   Marketing 3.0 Out with the old In with the new
    • Early marketing was easy MARKETING  3.0  
    • But consumers became smarter  and distrustful of marketing MARKETING  3.0  
    • As a result marketing has had to evolve MARKETING  3.0  
    • But some marketers are  stuck in the past MARKETING  3.0  
    • They’re still using old metrics with new media •  Impressions •  Reach MARKETING  3.0   •  Frequency •  Ad recall •  CPM •  Mass market segmentation
    • Hint: Impressions are meaningless •  It’s engagement you should be measuring because engagement is not given, it’s earned by what you do and how you respond to yourMARKETING  3.0   customers needs and feedback. •  Is your marketing the kind of marketing that people want to interact with ? •  Is your marketing the type of marketing that people want to share with others ?
    • And consumers are laughing at them MARKETING  3.0  
    • But in order to stay relevant marketing is changing again Marketing 1.0 Marketing 2.0 Marketing 3.0 Product-centric Consumer-centric Value-centric MARKETING  3.0   Objective Sell products to the Satisfy customers & Meet emotional and masses brand loyalty rational needs of consumers Enabling Forces Industrial Revolution Information technology Connectedness of consumers How marketers see the Mass market Smarter consumers & People instead of market mass market segments Key Marketing Product driven market Differentiation Value of product to Concept consumers emotions Value Propositions Functional Functional & emotional Functional, emotional & rational Interaction with Mass communication Micro segmentation Consumers collaborate consumers with each other Power of branding Marketers/companies Marketers/consumers Consumers
    • Marketing 3.0 In a nutshell Mind   Heart   Spirit   INDIVIDUAL   COMPANY  MARKETING  3.0   Mission   (Why)   Deliver Realize Compassion Satisfaction Aspiration Vision   (What)   Profit Return Sustain Ability Ability Ability Values   (How)   Be Difference Make a Better Difference
    • What led to marketing 3.0 ? •  The age of participation and collaborative marketing via theMARKETING  3.0   Internet. –  People create new ideas and talk to each other via social media. –  People trust each more than marketers. –  Recession has shaken the core values of most consumers (shift from wants>needs).
    • More collaboration tools means more trust between consumers MARKETING  3.0  
    • At a time when customers are  demanding more MARKETING  3.0  
    • Therefore organizations need more brand credibility Trust Authenticity Transparency Confidence As promised No Secrets MARKETING  3.0   Consistency Real & Sincere Easy to find Integrity Real People Easy to understand Authority Informal No Hiding Affirmation Listening Responsiveness Playback Empathy Follow-up Reinforcement “Welcome” Making changes Search Placement Humility Acknowledgement Community Feedback Thank you Six  drivers  of  brand  credibility    
    • Because company outputs don’t  always match customer expectations MARKETING  3.0  
    • Marketers need to understand that  social communities have cycles MARKETING  3.0  
    • Everyone can be an influencer MARKETING  3.0  
    • Mass Connectors & Mavens rule Can you really ignore them ? MARKETING  3.0   But  don’t  ignore  the  power  of  one  to  influence  others  
    • Demographics of mass influencers MARKETING  3.0  
    • You only have one chance to make a first impression, make it count MARKETING  3.0  
    • And with all this going on  collaborative media is evolving "The web is at a really important turning point right now” MARKETING  3.0   "Were building toward a web where the default is social." Mark Zuckerberg CEO Facebook
    • The percentage of weekly social media users is at 73% of the online population.MARKETING  3.0  
    • So…. MARKETING  3.0   Adapt  to  MarkeMng  3.0  or  perish      
    • Kotler’s Ten Credo’s of Marketing 3.0 MARKETING  3.0  
    • 1: Love your customers, respect  your competitors •  Win their loyalty by giving them great value and connecting with them emotionally. MARKETING  3.0   Example: •  Cambell’s Soup changed the color of its packaging during Breast Cancer Awareness Month and improved demand significantly
    • 2: Be sensitive to change and be ready to transform •  Business landscape is changing and competitors are getting smarter along with your customers. MARKETING  3.0   Example: •  Wal-Mart’s transformation from low- low prices to green giant.
    • 3: Guard your name Be clear about who you are •  Brand reputation is everything thus ensure that you communicate your positioning and differentiation to your target market. MARKETING  3.0   Example •  Body Shop practice of community trade and purchasing natural ingredients from local and poor communities around the world.
    • 4: Customers are diverse Go first to those who can benefit from you •  Simple principle of segmentation but you can’t and should not try and be all things to everyone. MARKETING  3.0   Example: •  Apple iPad is not a mass market product and Apple has never strived to be a mass market product. They focus on a unique segment of early adapters and technology lovers which leads to higher margins per unit sale.
    • 5: Always offer a good package at a fair price •  Price and product must match customers expectations not yours. MARKETING  3.0   Example: •  Target has positioned itself as the retailer that offers great products at a fair prices and by doing so is attracting more of a upper middle class audience who is willing to spend more money.
    • 6: Always make yourself available Spread the good news •  Don’t make it hard for customers to find you. MARKETING  3.0   Example: •  Amazon.com uses search to direct consumer directly to product pages when they search for specific products. •  Whole foods has a store locator on their home page.
    • 7: Get customers, keep them grow them •  Get to know your customers one on one so you have a complete picture of their needs, preferences and behavior. MARKETING  3.0   Example: •  Amazon.com builds recommendations based on past customer purchases and delivers personal recommendations via customized home page and email.
    • 8: Whatever your business, It’s a service business now •  You must have the spirit of wanting to serve your customers. MARKETING  3.0   Example •  Whole Foods sees its business as a service to customers and society. It tries to transform the lifestyle of customers into healthy ones.
    • 9: Always refine your  business processes •  It’s a never ending process, exceed your promises to customers & suppliers. MARKETING  3.0   Example •  S.C. Johnson is well-known for doing business with local suppliers. It works with local farmers to improve productivity and delivery.
    • 10: Gather relevant information, but use wisdom in making decisions •  Keep learning and use your accumulated knowledge & experience to make decisions. •  Consider more than the financial impact of a decision. MARKETING  3.0   Example: •  Eli Lilly, a pharma company is allocating more money to R&D to develop new drugs even though it has resulted in a lower ROI for Wall Street and investors.
    • Also don’t forget Rich’s  additions to these Credos MARKETING  3.0  
    • 11: You’re only as good as  your employees •  The best branding and marketing in the world cannot make up for an employee who doesn’t care about your customers. MARKETING  3.0   Example: •  Zappos goes out of their way to train and retain talented people. They will even pay people $2000 to quit because people that are more interested in money that job satisfaction are not employees they value.
    • 12: You can’t rely on outdate  marketing in an era of new media •  Impressions, reach, frequency, ad recall mean little today. •  Stop trying to quantify everything with a spreadsheet analysis because your competitors are doing the same thing. MARKETING  3.0   •  Stop thinking CPM, ARP, and mass marketing. Start thinking like a consumer.
    • 13: Don’t cut costs when it comes to customer service •  “If my call is so important to you then why am I on hold with a recorded voice telling me “my call is important to you”. MARKETING  3.0  
    • 14: Learn to listen before  joining the conversation •  Would you walk up to two people at a party and start talking without finding out what they are talking about ? MARKETING  3.0  
    • In summary… •  The recession has changed consumer behavior forever. •  Consumers have more power than via the evolution of collaborative tools on the Internet. MARKETING  3.0   •  Stop using outdated marketing and realign processes around your customers not your company. •  Reward employees who deliver a great customer experience. •  Think as a consumer..not as a marketer.
    • About me Richard Meyer •  My resume http://www.richardameyer.com •  My marketing BLOG http://www.richsblog.com MARKETING  3.0   •  MY DTC BLOG http://www.worldofdtcmarketing.com h/p://www.twi/er.com/richmeyer   h/p://www.facebook.com/richardameyer   h/p://www.linkedin.com/in/richardameyer