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What’s Wrong with Marketing in 2017 (and how to fix it)

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Marketers have so many distractions, new MarTech / Marketing Technology / New Customer Data / New Publishers -- How to make sense of it all? This Strategic framework will help!

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What’s Wrong with Marketing in 2017 (and how to fix it)

  1. 1. ©2017 Mark Osborne Ten Truths Marketing, Inc. Marketing Subject Matter Expert WHAT’S WRONG WITH MARKETING IN 2017?
  2. 2. Simply - It’s irrelevant, and there’s too much of it • This complaint is common to both consumers and marketers • As practitioners we care about both Let’s examine what this means to both halves of the equation (consumers and marketers) to come up with solutions for how to fix Marketing in 2017 ©2017 • Mark Osborne • Ten Truths Marketing, Inc. WHAT’S WRONG WITH MARKETING IN 2017? Page 1
  3. 3. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. MESSAGING IS IRRELEVANT TO CONSUMERS UNACEPTABLE Consumers share more data than ever before: • Constantly updating info and demonstrating preferences • Consumers expect personalization and relevance for their immediate / individual context Irrelevance is amplified because everything is “advertiser supported” - - consumers receive marketing messages in apps, on websites, and even in elevators and bathrooms Page 2
  4. 4. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. WHY ARE MARKETERS FAILING? Simply put – it’s HARD! • It’s hard to make sense of the consumer data that’s available • Once we find insights, it’s hard to pick the best way to react: Best message? Best medium? • Even then it’s hard to respond fast enough to be relevant for the changing customer context Page 3
  5. 5. TOO MUCH “MARKETING” FOR MARKETERS TO HANDLE Add to this the constant stream of new media platforms and new data sources • Most of this isn’t relevant to a specific marketing challenge • Marketers can’t keep up • Marketers can’t focus ©2017 • Mark Osborne • Ten Truths Marketing, Inc. Google Search delivers: • 1.6+ Billion sites for “Marketing” • 990+ Million for “Marketing 2016” • 555+ Million for “Marketing Technology” • 260+ Million for “New Marketing Technology 2016” Page 4
  6. 6. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. Adopt a new paradigm: ‘Exocentric Marketing’ is the next phase in the evolution of the Marketing Concept. Focus on what matters: ‘First Principles’ is a lens for evaluating marketing technology and customer data solutions that deliver transformational impact Strategic framework: ‘The Ten Truths of Modern Marketing’ is a strategic framework for focusing marketing decision-making within this new paradigm IN 2017? MARKETING FIX HOW TO Page 5
  7. 7. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. NEW PARADIGM: EXOCENTRIC MARKETING ‘Exocentric Marketing’ is the next phase in the evolution of the Marketing Concept • Exocentric Marketing delivers customer delight using technology to leverage data for seemingly serendipitous moments. 1:1 <-> Brand:Consumer relationships at scale. Click Here to Learn More Page 6
  8. 8. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. EXOCENTRIC VIEW OF MARKETING CHALLENGES Exocentric Marketing views marketing challenges differently • Changing customer journeys • Shift in control over the brand image • New priorities for customer acquisition vs customer satisfaction Page 7
  9. 9. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. EXOCENTRIC MARKETING RESPONSE Exocentric Marketers respond to these challenges differently • Two-way modes of communication • Granular approaches to segmentation • Advanced execution with data and technology Page 8
  10. 10. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. Too much ‘good’ Marketing Technology distracting from the ‘best’ opportunities FOCUS: FIRST PRINCIPLES OF MARKETING Evaluate marketing problems and solutions based on First Principles from foundations of Marketing and Advertising • Insight: Do you need better understanding of your target customer? Try CRM, DMPs, data enrichment, analytics solutions • Messaging: Do you need to improve what you say to your target customer? Try research data, optimization platforms, A/B testing solutions • Delivery: Trouble reaching your target customer efficiently/effectively? Try Programmatic Advertising, bidding, attribution solutions • Transactions: Unprofitable customers? Try CLTV analytics, recommendation engines, eCommerce solutions Click Here to Learn More
  11. 11. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. LEVERAGE Exponential returns on investments of time and money come from focusing on the right problem and using the right solution – solutions you are READY to implement that address multiple high impact challenges Page 10
  12. 12. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. TEN TRUTHS OF MODERN MARKETING 1. Focus: It’s impossible to do everything – use First Principles to do the right thing for your business, strategic thinking and customer obsession provide clarity 2. Relevance: Marketers must know their customers AND their context – reaching customers where they are on their path to purchase, with the right information, delivered in the right way 3. Data: Without data, marketers cannot be relevant, because they can’t differentiate individuals, their needs, and their context 4. Technology: The volume, velocity, and variability of customer data demands technology to capture, manage, and activate 5. Immediacy: Customer journeys have accelerated, marketers need speed to adapt to changing consumer contexts in real time 6. Automation: Intelligent, timely interactions are impossible without predictive analytics / artificial intelligence / machine learning and automation technology 7. Insights: With the right data and the right technology to make sense of it, marketers have a richer understanding of their customers and their context 8. Creativity: The insights available with robust customer data, and the capability to speak to changing contexts empowers marketers to be ever more creative in their messaging and execution 9. Agility: With a focus on measurement, marketers can now test and learn faster, creating the opportunity to maximize success and minimize failure 10. Change: Consumer behavior changes quickly, and marketers must adapt to new habits, and learn new technology to power successful solutions while constantly seeking new, better sources of data Click Here to Learn More
  13. 13. ©2017 • Mark Osborne • Ten Truths Marketing, Inc. MARKETING AS A BLESSING Operating with an Exocentric mindset, evaluating MarTech investments with First Principles, and using the Ten Truths as an operating framework Marketers can deliver relevant messages to consumers. Instead of interrupting consumers, marketers can enhance the customer experience, introducing people to new solutions to their pressing problems and making their lives better. Page 12
  14. 14. ©2017 Mark Osborne Ten Truths Marketing, Inc. Marketing Subject Matter Expert Learn More: http://TenTruthsMarketing.com

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