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Taking Online Marketing To The Customer

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Presentation to the Advertising & Marketing Summit - May 2005

Presentation to the Advertising & Marketing Summit - May 2005

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Taking Online Marketing To The Customer Taking Online Marketing To The Customer Presentation Transcript

  • taking online marketing to the customer getting your customers to interact, and to return to you, again and again Thom Poole Head of Portal Customer Interaction © Thom Poole 2005 Advertising & Marketing Summit 2005
  • taking online marketing to the customer getting your customers to interact, and to return to you, again and again Thom Poole May 2005 © Thom Poole 2005 Advertising & Marketing Summit 2005
  • agenda
    • the internet as a business tool
    • benefits of entering an online market
    • entering a maturing online marketplace
    • relationships, trust and repeat business
    • recognising the online growth opportunities
    • integrated marketing is the way forward
  • why i’m here
    • web & e-marketing trailblazer since 1992
    • taught e-marketing for 7 years
      • e-commerce
      • web design for marketers (and the terrified!)
      • CRM
    • written papers on ‘data privacy’ , ‘the marketing art of the opt-in’ and ‘trust in business and marketing’
    • written a book on ‘ethical e-marketing’ called ‘Play It By Trust’
    • head of portal customer interaction at O 2 – focus on customer centricity and ethics
  • the internet as a business tool
    • “ the ‘net is a waste of time, and that’s exactly what’s right about it.”
    • William Gibson
    1 © Thom Poole 2005
  • the internet as a business tool
    • the origins of the internet are as a military and academic tool
    • early view:
      • “ the internet is a great medium for information, but i don’t know how anyone can make any money from it” (Poole, 1992)
    • an ideal source of competitor, supplier and marketing information
    • an ideal communications medium, with a healthy mix of push and pull marketing
    • has expanded the boundaries of business and trade
    • has increased the speed at which we do business
  • what is it?
    • brochureware
    • sales
    • support
    • administration
    • procurement
    • education
    • training
    • tracking
    • entertainment
    • information/news
  • benefits of entering an online market
    • “ when i took office, only high-energy physicists had ever heard of what is called the world wide web.... now even my cat has its own page
    • Bill Clinton, announcement of next generation internet initiative, 1996
    2 © Thom Poole 2005
  • why go online?
    • you’ve got spare cash
    • your customers demand it
    • it fits with the marketing communications strategy
    • it seems like a good idea
    • everyone else is online
    Except the cat …
  • online market benefits
    • lower cost – “an average online retailer requires three purchases to break even on the acquisition of each new customer” – Kate Delhagen, Shop.org 2000 also, servicing/distribution/support costs are considerably lower than any other medium
    • loyalty – online customers are promiscuous, but look at Amazon’s or Google’s loyalty ratings?
    • communication – interaction offers opportunities to educate your customers and to learn from them
    • control – direct selling rather than through 3 rd parities, e.g. airlines
    • speed to market – a global market
  • talking to your customers
    • 52% of all UK households have access to the internet (12.9 million)
    • 61% of UK adults accessed the internet in Q3/4 2004
    • 55% of UK adults bought products on the internet in Q3/4 2004
    • 77% of UK SME’s are connected to the internet in some way or another
    ( FSB study 2003 )
  • entering a maturing online marketplace
    • “ advertising may be described as the science of arresting the human intelligence long enough to get money from it “ anon
    • … so what does that mean in the online world, where the attention span is comparable to the memory span of a goldfish?
    3 © Thom Poole 2005
  • market entry strategies
    • can you be the cheapest online?
    competitive advantage 1. cost leadership 2. differentiation 3a. cost focus lower cost differentiation broad target narrow target competitive scope Porter, 1985 no?
    • can you differentiate?
    3b. differentiation focus
    • can you provide the best service?
    • can you provide the best quality?
    • are you the recognised leaders, offline?
    • do you have a substantial ‘network’ offline?
  • recommendations
    • adhere to the standards set by your competitors / the industry as a minimum
    • deliver on your promises
    • be accessible, user-friendly and intuitive
    • let quality be the main differentiator if you can’t lead in any other way
    • look at other online business models, especially the online-only models
    • demonstrate a trusted personality on- and offline
  • relationships, trust and repeat business
    • “ how could we get past the catch 22 at the start of every relationship – i don’t know you, so why should i trust you?
    • as well as being involving, dialogue also has a powerful side effect – it builds trust “ anon
    4 © Thom Poole 2005
  • CRM in real-time
    • CRM is making a comeback, with emphasis on online and real-time decision making
    • predictive sharing of information with customers, and intuitive cross- and up-selling
    • ‘people buy from their friends’
    • relationships imply trust, and trust will bring your customers back, again and again
  • friendship = trust
    • ‘ people buy from their friends’
    • trust builds loyalty
    • trust will drive profit
    Trust-focused value chain (adapted from Porter, 1998)
  • trust lifecycle Poole (2005) adapted from Reynolds (2000)
  • asymmetric information flow Spremann, 2001
  • recognising the online growth opportunities
    • “ in the modern world of business, it is useless to be a creative original thinker unless you can also sell what you create.
    • management cannot be expected to recognise a good idea unless it is presented to them by a good salesman”
    • David Ogilvy
    5 © Thom Poole 2005
  • growth opportunities existing products new products existing markets new markets market penetration product development market development diversification From Ansoff, 1957 entering the online market building an online market be different
  • integrated marketing is the way forward
    • “ marketing is about selling dreams ”
    • anon
    6 © Thom Poole 2005
  • rules for integrated marketing
    • accept that not all customers will see or want to see all channels
    • consistency
    • multi-channel response mechanisms
    • be a trusted partner on- and offline – being trustworthy is profitable
    • define the rules, and then bend them as far as they will go where necessary
    • make online as simple as possible – accessibility isn’t just for DDA compliance
  • summary 7 © Thom Poole 2005
  • summary
    • build trust to engage with customers
    • do at least what your competitors are doing
    • understand why you are online and for whom
    • identify the benefits and measure what you are getting from it
    • be consistent on- and offline
    • empower the customer – let them think they are in charge
    • give your customers a reason to come back, and to spend their money
    • don’t let technology dictate your marketing – it’s a tool
  • Thom Poole Head of Portal Customer Interaction [email_address] taking online marketing to the customer thank you © Thom Poole 2005