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Today's Consumer & The Paradigm Shift

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SearchFest Keynote presentation. I cover the shift in consumer behavior and the four key ways marketers need to adapt to stay relevant and competitive. Beyond new channels and updated tactics, marketers need to understand today's consumer.

Published in: Marketing
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Today's Consumer & The Paradigm Shift

  1. 1. Today’s Consumer & The Paradigm Shift Snap guys. Things they are-a-changing. Joanna Lord, CMO of BigDoor @joannalord www.BigDoor.com
  2. 2. paradigm shift [def]: a fundamental change in approach or underlying assumptions.
  3. 3. things are different now.
  4. 4. the truth is sometimes it feels like, as marketers, we are just trying to keep up.
  5. 5. let alone get ahead.
  6. 6. so what now?
  7. 7. door 1 : don’t evolve.
  8. 8. door 2. find an island somewhere.
  9. 9. door 3. evolve.
  10. 10. so what does that even mean?
  11. 11. [consumer behavior] discovery comparison decision evaluate
  12. 12. [consumer behavior] discovery comparison decision evaluate [marketing channels] seo paid email content social product brand press retargeting community
  13. 13. [consumer behavior] discovery comparison decision evaluate [marketing channels] seo paid email content social product brand press retargeting community [marketing tactics] fear-based time-based guilt-based pride-based images storytelling influencer novelty
  14. 14. [consumer behavior] discovery comparison decision evaluate [marketing channels] seo paid email content social product brand press retargeting community [marketing tactics] fear-based time-based guilt-based pride-based images storytelling influencer novelty
  15. 15. lets walk through some changes.
  16. 16. 1. sh*t got personal.
  17. 17. "True personalization of customer experience will stop being reserved for a select few and will need to become an operational principle for any marketer who wants to remain relevant in an increasingly fragmented and regulated environment.” Tamara Gruzbarg, Senior Director of Analytics and Research, Gilt Groupe
  18. 18. Permission marketing. Authentication > cookies. Cohort marketing. Big data into smart data. Marketing analysts everywhere. Intent retargeting. Customer journey mapping. Bizographics gone wild. Persona marketing. http://blog.hubspot.com/blog/tabid/6307/bid/13829/60-Ways-Personalization-is-Changing-Marketing.aspx
  19. 19. “What’s in it for me?”
  20. 20. 2. loyalty matters more than ever.
  21. 21. Loyalty before... Was post conversion. Customer service team. Product team problem. Was reactive. Surveying.
  22. 22. Loyalty now... Your next sale. Your #1 sales team. Advocacy. Your trust signals. WOM leverage. Social team’s #1 purpose.
  23. 23. Customer loyalty has become a key goal in every marketing campaign.
  24. 24. 3. we decide differently (like as in…science).
  25. 25. enter: democratization of distribution
  26. 26. “Information is streamed in ever-greater volumes and at everrising velocities. Timelines for decision-making appear to have been compressed. Pressures to deliver immediate results seem to have intensified. These forces have not just altered the way we act, but also the way we think. Neurologically, our brains are adapting to increasing volumes and velocities of information by shortening attention spans. Technological innovation may have caused a permanent neurological rewiring, as did previous technological revolutions such as the printing press and typewriter.” http://gigaom.com/2011/05/10/the-distribution-democracy-and-t
  27. 27. Brands as media companies. “27,000,000 pieces of content are shared daily.”
  28. 28. Content marketing explodes. “60% of the buyers journey is complete before a prospect reaches out to a vendor.”
  29. 29. Visual web explodes. Over 500 million photos are uploaded per day to major social media platforms. That means by the time I’m done rambling 13.5 million photos will be shared on the internet.
  30. 30. “Consumers ‘touch’ your brand, on average, 56 times between inspiration and transaction.”
  31. 31. 4. manage the consumer voice.
  32. 32. Before marketers really weren’t that involved.
  33. 33. Before marketers really weren’t that involved. Rise of listening tools & we jumped up in there.
  34. 34. Before marketers really weren’t that involved. Rise of listening tools & we jumped up in there. We heard the story, shaped it and shared
  35. 35. Before marketers really weren’t that involved. Rise of listening tools & we jumped up in there. We heard the story, shaped it and shared Then we facilitated the stories.
  36. 36. Before marketers really weren’t that involved. Rise of listening tools & we jumped up in there. We heard the story, shaped it and shared Then we facilitated the stories. Now we wrangle & amplify.
  37. 37. a.k.a. We don’t control sh*t.
  38. 38. Consumers today… Have the power. Have the platforms. Have the motivation. Define brand experiences visually. Shift brand identity. Provide more feedback than ever before. Expect more than ever. Are getting it from your competitors. http://www.forbes.com/sites/kylewong/2013/11/05/how-consumersare-changing-the-face-of-your-brand/
  39. 39. Consumer is more empowered than ever. Our role in this has changed. #timetowearadifferentcape
  40. 40. you seeing the trend yet?
  41. 41. It’s not the channels, platforms, or tools. ou seeing the trendactually The significant change is yet? happening with the consumer.
  42. 42. marketing to. marketing at. marketing for. marketing with.
  43. 43. terrifying.
  44. 44. meh. we got this. we love change.
  45. 45. look at what we’ve survived.
  46. 46. I’d argue us in the room have led the market.
  47. 47. plus in a lot of ways I think we’ve come full circle.
  48. 48. marketing that really is better for the consumer.
  49. 49. marketing that really is better for the company.
  50. 50. marketing that really is better.
  51. 51. thank you for listening to me ramble. questions? lets hear ‘em or tweet me at @joannalord Joanna Lord, CMO of BigDoor @joannalord www.BigDoor.com

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