The senior care buyer has undergone massive change over the past few years. With infinite access to media, and infinite connectivity we must understand the new foundations for relating to the modern buyer.
@msweezey @msweezey This presentation will
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@msweezey We are here You
must understand we are in a time of radical change, and only by fully understanding the change can we succeed in the infinite future. In assessing the blame for the failure of good companies, the distinction is sometimes made between innovations requiring very different technological capabilities, that is, so called radical change, and those that build upon well-practiced technological capabilities, often called incremental innovations. The notion is the magnitude of the technological change relative to the companies’ capabilities will determine which firms triumph after a technology invade an industry. -Clayton M. Christensen, The Innovators Dilemma
@msweezey Business Environment We operate
in consists of media, consumers, and businesses. When any of these three things change we must revaluate our foundations. Business: Use media to consume information and to publish information. They are reactionary to the consumer. Media: Is the medium for communication between all parties in the environment. Consumers: Are the ones who obtain information from media to fulfill their needs.
@msweezey 200 Media Channels In
2014 there are over 200 marketing channels we must master. They are all digital, bi-directional, and driven by dynamic data.
@msweezey More people in the
world have access to a mobile phone than have access to clean drinking water or electricity. The effects of this are only now beginning to be fully understood. Media Ubiquity
@msweezey Time Spent Online The
average person in the united states spends 12.28 hours in front of a screen every day. The average person in the UK spends 12 hours per day. (NIH)
@msweezey Buyers harness more power
when they do a single Google search than all of NASA had in 1969 to land a man on the moon. Anything can be found in an instant, and if it’s not they they leave. INSTANT RESULTS 80% Bounce Rate On visits from Adwords 71% Have been Disappointed by content 25% Will never re-engage If disappointed once 1.70 Page views Per visit to your site
@msweezey The new buyer is
not like the old one. They are mobile, cross channel, and highly informed. On average they consume 3-7 pieces of content before they talk to sales. The average person between 35-49 checks Facebook 17 times per day. BUYERS CHANGE GRANDPARENTS Are the fasting growing demographic on Facebook.
@msweezey Customer Mandate 36% *Transforming
Customer Experience: From Moments to Journeys, 2013 Understand the customer’s needs and interests and use this insight to continuously deliver personalized content that aids the customer’s purchase decision, provides timely service and results in a great customer experience. Customer satisfaction scores for business increases by thirty six percent when we focus on the full customer experience. 15% Increase in revenue for those companies who can transform their idea of individual moments into a full customer journey. 28% Customers are twenty eight percent more likely to recommend products from companies who provide a personalized journey. 33% And are thirty three percent less likely to churn than customers who do not receive a fully personalized experience.
@msweezey 80% Gartner predicts the
buying cycle will be primarily in the hands of marketing, as they expect a B2B buyer do have accomplished 80% of their buyers journey before they ever speak to sales. MARKETING CONTROLS THE BUYING CYCLE
@msweezey Production, Technology, Distribution, and
Reach are all democratized making the relationship you have with your consumer the only sustainable competitive advantage. Inﬁnite Competition of Fortune 500 companies are removed from the list in Last decade (2004-2015)1/3
@msweezey You no longer compete
with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their vertical. Inﬁnite Competition Buyers harness more power when they do a single Google search Ease of Use Buyers harness more power when they do a single Google search Personality Buyers harness more power when they do a single Google search Service Buyers harness more power when they do a single Google search Relationship
@msweezey ENVIROMENT CHANGED BUYERS CHANGE
= Radical Changes Must Occur Buyers harness more power when they do a single Google search Limitless Channels Buyers harness more power when they do a single Google search Always on Buyers harness more power when they do a single Google search Inﬁnite Media Buyers harness more power when they do a single Google search Instant Expectations Optimizing for small gains will leave you way behind in the inﬁnitely changing world. + +
@msweezey Remember “New Coke” the
only reason Coke-a-Cola didn’t lose the cola market was because of their relationships which they build during WWII. Where they made sure every GI got a Coke for five cents, where ever they were in the world. Campaigns Can fail
@msweezey Kimpton Hotels is using
“Journey Builder” to build long lasting relationships with customers even outside of their travel schedule. Technology allows this to happen, far surpassing Dunbars wildest dreams. Now they Can Scale
@msweezey Building relationships with consumers
inner desires is what we should be focused on. It is what our society is based off of, and the best way to drive people to action. Edward Bernay’s created Public Relations after learning from his uncle Sigmund Freud the power of the unconscious mind. He create a new form of strategic marketing which built relationships between products and consumers inner desires. Bernays Is Right
@msweezey CONTENTResearch from the Content
Marketing Institute shows best in class companies spend 39% of their total marketing budget on creating content. Yet research also shows 70% of all content created never gets utilized.
@msweezey Mass Media Fails The
worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands.
@msweezey More is not Inﬂuential
There is no correlation between publishing more often and influence the content has with in a persons life, or with the relationship you have with the consumer.
@msweezey 71% of B2B buyers
have been disappointed by content -Pardot research 2013 71% Of B2B Buyers Have been disappointed with content -Pardot Research Report 2013
@msweezey 71% of B2B buyers
have been disappointed by content -Pardot research 2013 25% Of them will never engage with your content again -Pardot Research Report 2013
@msweezey MindsetEveryone in the organization
understands everything they do will end up online. Services will receive tweets, product will receive reviews, and sales will be talked about. Everyone must understand the net positive effects of their actions.
@msweezey Leading outdoor brand, headed
by a climber. Not a business leader. First company to provide on site child care. Famous for their “When surf is good, go surf” mentality. Pardot competed in the highly competitive marketing automation space. Zero funding, and very few dollars spent on marketing they succeeded in a market where their competitors had over ½ billion dollars. Zappos , has become a monolith due to their customer service, and culture. This was spear headed by their CEO who’s philosophy of people first proved to be correct. Companies Who win All three of these companies have a culture which breeds a consistent net positive mindset. It comes form the top, and is passed down. It must sit at the top.
@msweezey Ship My Pants National
retailer spends over $10 million on a campaign to get people to shop in their stores. The campaign was based off of an award winning tag line “Ship My Pants”
@msweezey Inﬁnite Media Hurts Upon
a Google search to find the local store the average review is 2.9 out of 5. Creating a bad impression directly following the positive impression of the “Ship My Pants” campaign.
@msweezey Net Positive Experience Upon
going to the website to then purchase the website was broken. This now has created a “NET NEGATIVE” effect and the only way to win this consumer back is to spend more money. This is not sustainable.
@msweezey Customer Executive Having everyone
in your with the same mindset is the only sustainable way for you to proactively protect your brand from the infinite amount of content which will be published about you in the future. This is why companies like AT&T give CX a seat at the Executive Table.
@msweezey Creating Mindset Everyone in
the company must be able to answer three basic questions. If they can you will proactively mitigate bad experiences and ensure a “Net Positive” experience in the future. - What do we value in an employee - What do we value in a customer - What do we call success Simplicity Wins in Mindset
@msweezey “It is not the
height of your highs, but the valley of your lows which will shape your brand” -Andrew Davis, Author of Brandscaping “ “
@msweezey Homework Watch This Joe
Pine II explains consumers want, “Honest and Authentic” experiences. He also writes about this concept in three books, Authenticity, The Experience Economy, and Mass Customization.
@msweezey Nobody Ever Said “I
want content”They decide engage with content to solve goals, they engage with it because it aligns with their purpose The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands. Media Brands?
@msweezey Path to Purpose Google
research done in 2013 proves it is no longer a linear journey to purchase, but rather helping consumers meet their purpose. When you do you increase purchases by 42%.
@msweezey Escape !People wanting to
escape will lean on self discover and social channels. They are looking to escape their work, life, job, and take a short break. No barring on sales readiness.
@msweezey Discover!Discovery is one of
the greatest gifts of the internet. We have both passive and active discovery modes. Active Discovery: Direct searches on the internet Passive Discovery: When you scroll down in Facebook
@msweezey Presence!Is the content which
consumers create about themselves to validate the mediated self they are projecting. Simply engaging with this is fulfilling their purpose, and is helpful, and does not require you to create more content.
@msweezey Data Collection Buyers become
highly fragmented beings across multiple channels. They are always connected, and always on. The only way to reach them is to know more about them, and understand what it takes to really be relevant to the modern buyer. You no longer compete with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their vertical. Behavioral Data You no longer compete with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their vertical. Psychographic Data Also combine with all other internal data. CRM Data
@msweezey “Our end goal is
to present the customer with content that is relevant, not invasive” -Kimberly Ruthenbeck, Director of Web Customer Experience for Room & Board “ “
@msweezey Personalized Experience Requires you
to know each and every person, and demands a system of relevance which touches all aspects of your business. This puts the customer success platform at the heart of your marketing efforts. Then allows for scaling across all channels, with dynamic and predictive personalization.
@msweezey Companies using predicative content
on average are seeing an increase in revenue by 15%. Predictive Content Dynamic content suggests the best next piece of content given set algorithms of most likely engagement. Owned Experiences Creating customized experiences also needs to happen both on your website and via the email content. +15% Revenue
@msweezey Lead Nurturing Wins Using
the 3-2-1 technique of lead nurturing eCornell has been able to see amazing results. Converting 50% of all sales qualified leads who are nurtured into new customers. eCornell Lead Program Is the online branch of the Ivy League Cornell University. They are responsible for driving all traffic and produce 5,000 leads per month. 16X Higher conversion rate on leads that have been nurtured vs those that have not. Produced the single biggest increase in leads from any other method.
@msweezey Lead Routing Then identify
the hottest leads in real time and pass them to the sales team asap. Lead Scoring From each engagement we can now track the buyer’s interest and score him based on behavioral metrics. Companies who automate lead management see a 10% increase in revenue in 6 months. (Gartner Research) +10% Revenue Of marketing leads never convert into sales. (Gleanster)79%
@msweezey Sales Automation Real time
notiﬁcations Sales then gets instant notifications of any lead they are working with and their engagement with marketing. Sales Nurturing Programs The biggest benefit to the sales and marketing program are sales automations from Pardot. Giving businesses the ability to generate leads, identify them, and close them faster. Real time lead routing Identify the hottest leads based on instant behavior and then send them to sales instantly. One click nurturing allows sales to then nurture those leads who are not ready buy. @msweezey
@msweezey Extinction Is Real More
than 99 percent of all species, amounting to over five billion species, that ever lived on Earth are estimated to be extinct due to environmental factors. Don’t be a DoDo…… Raphus cucullatus “DoDo Bird”