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Challenges for Traditional Marketers, as they learn to cope with Social Media
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Challenges for Traditional Marketers, as they learn to cope with Social Media

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This is the presentation deck, of the talk given by Sanjay Mehta (Jt CEO, Social Wavelength) at the Gripel organized conference, Social Media Marketing Excellence, on Feb 11th, 2011. ...

This is the presentation deck, of the talk given by Sanjay Mehta (Jt CEO, Social Wavelength) at the Gripel organized conference, Social Media Marketing Excellence, on Feb 11th, 2011.

The focus of the talk is around the challenges of traditional models of advertising and marketing, and how Social Media and digital technologies, are challenging the same. Also how marketers and organizations can cope with this changing world!

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    Challenges for Traditional Marketers, as they learn to cope with Social Media Challenges for Traditional Marketers, as they learn to cope with Social Media Presentation Transcript

    • Boarding a fast moving train??
      CHALLENGES FOR TRADITIONAL MARKETERS AS THEY LEARN TO COPE WITH SOCIAL MEDIA
      Sanjay Mehta
      Jt. CEO, Social Wavelength
    • Try boarding this train as it zooms past your platform on the railway station…
      What marketers are going through in changing timesis not much different…
    • Where do these insights come from? About Me..
    • A Few of our Clients – Brands and Agencies
      One of the Top 5 IT Companies in the World
    • Three key thoughts
      CHANGES IN THE MAD-AD WORLD
      NEED FOR MARKETERS TO LISTEN UP
      THE NEW MARKETING MODEL, AND THE CHANGING ROLE OF THE MARKETER
    • The Assembly Line of Traditional Advertising
      This traditional model is seriously challenged today..
    • “First the news business, then the music business, then advertising. Is there any industry that I get involved in that doesn’t get destroyed by digital technology?”
      - Andy Nibley, who has led Reuters, Universal Music and ad agency, Marsteller
    • The New Possibilities and Realities in Advertising
      Digital Tech allows client’s ultimate fantasy, “customize specific message to the specific consumer, at the specific moment”
      It’s also an advertiser’s nightmare
      “The irony is that while there never have been more ways to reach consumers, it’s never been harder to connect with consumers!”
      Death of mass marketing is death of lazy marketing
      200 Old Spice videos made in 48 hours; more work for less money
      Controlled, one-way message is now a dialogue with millions
      The power of the advertiser is rivaled now, by user influence
    • Other Real Challenges for Traditional Advertising
      Brands choosing to work with specialist digital, PR, social media agencies, rather than generalists: “looking for the right skills”
      Tech challenges to what was once considered an expensive art form, e.g. creating a video (< $2K) or media planning (web ads?!)
      Creativity is not that exclusive – how about crowdsourcing ideas?!
      Kraft worked with GeniusRocket for one of it’s brands:
      Against millions to agencies for one spot, got 7 spots for $40,000
      Also syndicated to web platforms for tracking, testing, sentiment analysis
      For agency to be cutting edge, high overheads; GeniusRocket is a lean team
    • “Why are so many marketing campaigns brand-destroyers and money-losers? Why is “branding” becoming a devalued asset, whose returns are dwindling (witness Google building the world’s mightiest brand with barely a penny of orthodox marketing expenditure)? Why do people and communities exact steeper and steeper discounts, price-cuts, and margin-crushing concessions from the beleaguered, besieged companies once known as the masters of the universe?
      The half-life of companies is shrinking and the weary practice known as “marketing,” adding little to no real value, seems powerless to help.”
      A strong condemnation of marketing as it stands today, by UmairHaque (HBR)
    • In a changing world, Marketing is still a lot like this..
      About ‘pushing’ products down
      Already overstuffed gullets of ‘consumers’
      By ‘targeting messages’ packed with imaginary benefits
      In ‘grand campaigns’ that make overblown promises
      “See this beer? It’s going to land you a girl of your dreams!”
      Current marketing is about “talking down” to your customer
    • Can Marketers go from Talking Down to Listening Up??
      What Listening Up is NOT:
      Stalking your customers to find their moments of weakness
      Focus groups and differentiation
      Data mining and then some more!
      The UP is important: having dialogues about what really betters lives of people, their standards of living, and then finding real ways to make it happen for them
    • So what does Listening Up entail?
      Genuine talk with customers – not just about their wants and needs, but also about their hopes, fears, opportunities, threats, achievements, regrets; find ways to give long term fulfillment
      Empowering more people in organization to talk to customers, not just the powerless cashier or customer service rep; org change!
      Letting your critics rip at you – and listening to them; empowering people to be heard, instead of shouting them out
      Investing not just in market research, but in people
      Asking questions that matter – and being tough to face the music
    • New Model, New Role
      Changing Marketing Model
      Where are the budgets?
      Not just Marketing, anyway
      The Social Media Workflow
    • The Changing Marketing Model : From the Funnel to an Ellipse..
    • The Changing Marketing Model : From the Funnel to an Ellipse..
      CONSIDER
      EVALUATE
      THE LOYALTY LOOP
      BOND
      ADVOCATE
      ENJOY
      BUY
    • Marketing Budgets? Not leaving enough for the crucial touch points?
      CONSIDER
      EVALUATE
      BOND
      BUY
      Allocations not just about media (TV/Print/Radio etc) but about consumer touch points!
      Provide for ‘non-work’ budgets like creating, monitoring owned and earned media spaces!
    • Not just Marketing, anyway! Yet Marketing must be in charge..!
      Marketer as the Orchestrator: in charge of all Owned Media – in addition to traditional and digital marketing, also manage customer service, product literature design, product registration, warranty programs, etc.
      Marketer as publisher, content supply chain manager: Tons of content being produced by brands and for brands – owned and earned media; marketing to take charge
      Marketplace Intelligence Leader: From Google Analytics to Social Media Monitoring data, the insights must reside with marketing (“what the customer says / does, etc.”)
    • The Social Media Workflow
      SOCIAL MEDIA TEAM
      Investor Relations, etc. etc.
    • THANK YOU
      Sanjay Mehta
      Joint CEO, Social Wavelength
      smehta@socialwavelength.com +91-98200-40918 @sm63
      Acknowledgements:
      The Future of Advertising – Danielle Sachs
      Marketing Can Do Better – UmairHaque
      Branding in the Digital Age – David Edelman (HBR)