Barbara A. Pellow - Turbocharging Your Business with Cross Media Marketing. Catch the Wave!

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  • Remember the good ol' days when that magical "media mix" was the way to reach target audiences at different times in different ways to keep your product top-of-mind?
    While now, marketing has evolved into a complex dance of customer relationships, integrated communications and personalized media. Marketers need to leverage the multiple customer touch points with a mix of interconnected channels. One thing is certain and that is effectively using multiple channels delivers better business results. Delivering multiple impressions and giving prospects a variety of ways to respond can dramatically improve results.
    The key message you will get from the Interact conference….is that you need to use new and traditional media channels, but that they are “better together”.
  • And marketing overall is riding a killer wave of new technology.
  • See, industry forces have created a perfect storm for marketing technology. The shift of money from old media is continuing, making digital a larger and larger market. Cloud computing and the inherent trackability of digital initiatives makes it easier to adopt and justify new technologies. And this special moment in time, where disruptive innovation opens doors for everyone—combined with the attractive economics of software—make barriers to entry relatively low. If you’ve got a brilliant idea, and you can prove it, you can launch a marketing technology venture.
  • Content marketing is a marketing technique of creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience - with the objective of driving profitable customer action.
    Basically, content marketing is the art of communicating with your customers and prospects without selling. It is non-interruption marketing. Instead of pitching your products or services, you are delivering information that makes your buyer more intelligent. The essence of this content strategy is the belief that if we, as businesses, deliver consistent, ongoing valuable information to buyers, they ultimately reward us with their business and loyalty.
    Consumers have simply shut off the traditional world of marketing. They own TiVo to skip television advertising, simply ignore magazine advertising, and now have become so adept at online "surfing" that they can take in online information without a care for banners or buttons (making them irrelevant). Smart marketers understand that traditional marketing is becoming less and less effective by the minute, and that there has to be a better way. Thought leaders and marketing experts from around the world, including the likes of Seth Godin and eMarketer CEO Geoff Ramsey, have concluded that content marketing isn't just the future, it's the present.
  • It’s a shift that is starting to take place all around the globe. Smart organizations are recognizing that, as the length of time consumers spend filtering out irrelevant marketing messages gets longer, their tolerance fuse inevitably gets shorter. So while marketers have traditionally focused on getting the right message to the right person, it is becoming increasingly important to get that message out at the right time. But for the marketing message to be appropriately timed, you must understand the customer’s situation, and be able to translate this understanding into the appropriate response.
    That’s where trigger-based (or ‘event-based’) marketing comes into the picture. Trigger-based marketing works on the premise that you communicate with your customers at a time when they have indicated a propensity to purchase. Trigger-based marketing analyses customer behavior to identify changes – or ‘triggers’ – that may indicate the need for a new product or service.
    At the most basic level, triggers can include things such as the expiration of a fixed rate term on a mortgage – a key ‘moment of truth’ in the mortgage product life cycle; or a change of address, which may, for example, prompt an insurance company to offer a new home and contents policy.
    At the more sophisticated end of the scale, triggers may be based on any number of observations indicating a shift in customer behavior. For example, a significant decrease in regular salary deposits combined with the payment of a baby bonus would indicate the birth of a child. Or the deposit of an unusually large sum of money into an account may be used as a trigger to contact the customer and offer investment advice. Similarly, in the telecommunications sector, if a mobile customer is consistently exceeding their monthly calling cap, this might trigger an up-sell offer to a plan with a higher cap. In the retail sector, a relevant offer may be made where it is noticed that a high-value customer is shopping less frequently.
    Basically any interaction – or significant lack of interaction – that a customer has with a company can be used as a trigger to tailor communications to them in a more relevant way.
  • In the U.S. ICOM, a division of Epsilon Targeting received 2569 completed surveys from individuals from 18 to 55. The responses were evaluated against a similar survey taken in 2008 to measure changes overtime. In Canada 2209 responses were received. The key message is that consumers are using a greater variety of sources to meet their information gathering needs, but most importantly the factors driving channel choice include convenience, trust, robustness of content and environmental values.
  • Wikipedia.com defines proximity marketing as "the localized wireless distribution of advertising content associated with a particular place. Transmissions can be received by individuals in that location who wish to receive them and have the necessary equipment to do so." The basic concept is to enable retailers to attract the attention of every potential customer in proximity of their location. If a consumer has opted into a relationship, the retailer could send a business card, advertisement, or special offer directly to his/her mobile phone.
    Proximity marketing enables retailers to create a whole new advertising method in the mobile marketplace that will allow them to strengthen their brand and leverage the strength of mobile advertising. This technology gives retailers the ability to monetize a high-traffic area. Businesses can send fully-customized campaigns to consumers when they are within feet of the physical store location.
    The key message is that this technology is available today. The visionary marketing service providers will figure out how to embed this technology into their service portfolios.
  • Speed and agility are increasingly at the heart of marketing’s competitiveness. A key benefit to imbuing marketing with technical talent is an acceleration of the clock speed in implementing technology-based features. Part of this speed is purely organizational—having someone directly on your team, sitting right next to you, aligned perfectly with your mission is faster than crossing organizational boundaries and trying to get the attention of people who are not 100% focused on your mission. To talk tech: reduce switching costs and communication latencies.
  • Technology offers more efficient and more profitable ways to interact with and target customers. The rise of the internet and mobile text-messaging are perhaps the most high-profile examples of recent years.
    The ability of today's computing power to process vast quantities of data also promises a better understanding of consumer behavior. The computing revolution has boosted the capability of the back office, with the arrival of more sophisticated customer relationship marketing (CRM) and data-mining tools.
    The ultimate goal for marketers is that such technology will make it simpler to understand, target, reach and interact with the consumers they really want to attract.
  • Barbara A. Pellow - Turbocharging Your Business with Cross Media Marketing. Catch the Wave!

    1. 1. © 2010 InfoTrends, Inc. www.infotrends.com Turbo-Charging Your Business with Cross-Media Marketing: Catch the Wave! Barbara A. Pellow Group Director, InfoTrends
    2. 2. 2© 2010 InfoTrends, Inc. www.infotrends.com It’s time to catch theIt’s time to catch the wave of cross-mediawave of cross-media technology!technology!
    3. 3. 3© 2010 InfoTrends, Inc. www.infotrends.com Large market Relatively easy to sell Low barriers to entry The Conditions are Right for Cross-Media!
    4. 4. 4© 2010 InfoTrends, Inc. www.infotrends.com It’s Time To Catch the Cross Media Wave! • Consumer Reach and Relevance • Marketer Demand  Cycle time  Testing  Measurability • Available Technologies  Digital printing  Software solutions
    5. 5. 5© 2010 InfoTrends, Inc. www.infotrends.com One Size Does Not Fit All in a Cross-Media World! • Consumers Demand:  Relevance in content  Relevance in time  Relevance in channel  Relevance in place
    6. 6. 6© 2010 InfoTrends, Inc. www.infotrends.com Relevance in Content… The Present and the Future • Ensuring that you have created and distributed relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience… with the objective of driving profitable customer action • Non-interruption marketing  Instead of pitching your products or services, you are delivering information that makes your buyer more intelligent
    7. 7. 7© 2010 InfoTrends, Inc. www.infotrends.com Relevance in Time… Trigger-Based Marketing • Communicating the right message to the right person at the right time • Based on the premise that you communicate with your customers at a time when they have indicated a propensity to purchase • Analyzes customer behavior to identify changes (or “triggers”) that may indicate the need for a new product or service
    8. 8. 8© 2010 InfoTrends, Inc. www.infotrends.com The Right Channel
    9. 9. 9© 2010 InfoTrends, Inc. www.infotrends.com What is the Right Channel? It Depends! Channel Selection • Convenience • Trust • Robustness of Content • Environmental Values
    10. 10. 10© 2010 InfoTrends, Inc. www.infotrends.com Choosing the Right Channel
    11. 11. 11© 2010 InfoTrends, Inc. www.infotrends.com The Right Place… Proximity Marketing • The localized wireless distribution of advertising content associated with a particular place • Transmissions are sent to individuals in a particular location who wish to receive them and have the necessary equipment to do so • Enables retailers to attract the attention of every potential customer in proximity of their location
    12. 12. 12© 2010 InfoTrends, Inc. www.infotrends.com Reduced Cycle Time, Increased Clock Speed Marketers Demand…
    13. 13. 13© 2010 InfoTrends, Inc. www.infotrends.com Real-Time Market Testing
    14. 14. 14© 2010 InfoTrends, Inc. www.infotrends.com Metrics for Measuring Marketing Effectiveness Source: Exact Target: Marketing Budget 2010 Effectiveness, Measurement and Allocation Report 79% 71% 65% 50% 44% 43% 41% 39% 27% 5% 0% 20% 40% 60% 80% 100% Increased Sales Increased W ebsite Traffic R eturn on Investm ent C ustom erR etention C ustom erSatisfaction Increased Profitability B rand Reputation B rand Recognition Lifetim e C ustom erValue O ther
    15. 15. 15© 2010 InfoTrends, Inc. www.infotrends.com Available Technologies
    16. 16. 16© 2010 InfoTrends, Inc. www.infotrends.com Catch the Cross- Media Wave! • Consumers • Marketers • Technology
    17. 17. 17© 2010 InfoTrends, Inc. www.infotrends.com barb@infotrends.com

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