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

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)

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

by Social Wavelength

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