Consumers are in charge, and brands are in charge of ensuring they remain front and center along the consumer journey. To do that, they must understand the touchpoints that matter, enhance the targeting triple play, and ensure that the process is working properly. This requires understanding and quantifying consumer behavior. Thankfully, consumers in charge also means that consumers reveal a great deal—if you know where to look and don’t shy away from big data. This presentation looks across industries to reveal key tenets for how to make marketing remarkable.
Today, we’re going to talk about making marketing extraordinary, again…..XXXXX
To start, let’s first understand a few trends in the industry:
First, brands are vital to people – people now partially define themselves by the brands they love/hate and engage with.
And finally, attention is a precious resource.
So, what can we as marketers do to ensure we are navigating the complexity of marketing to the right consumer, with the right message, at the right touchpoints, on the right screen, at the right time – i.e. how can we make marketing extraordinary again?
Second, marketing is evolving – new technologies and platforms continue to emerge that change the way consumers and brands interact.
I’d posit there are three things we can do to optimize the opportunities that exist:
UNDERSTAND THE TOUCHPOINTS THAT MATTER (CONSUMER JOURNEY): With the proliferation of devices and platforms, understanding the various paths of the consumer journey are critical for marketing success.
REACH THE RIGHT PERSON AT THE RIGHT TIME (TARGETING): Fine line between relevance and overage; precision targeting is what’s required to strike that balance – ads need to be contextually relevant, interest-based (derived from websites they visit), not over-saturated/intrusive
ENSURE IT ALL WORKS (MEASUREMENT): Holistic measurement around audiences, brand performance, consumer behavior, and sales are vital to effective marketing
According to Terry Semel, CEO and director at Yahoo at the Association of National Advertisers’ annual meeting in Oct ’14:
“Consumers determine what they want when they want it, which is a prime reason for the shift in dollars from broadcast to cable to Internet and to more non-traditional media in general. It’s now a question of ‘How personalized can you make your brand in my life?’”
CONSUMER JOURNEY
A representation of the Consumer Journey (based on Clickstream, for a consumer shopping for energy services – in the UK)
Category involvement influences time investment: The buying process varies by category, much shorter for low-involvement purchases than those that require more in-depth research
Top 5 online travel brands: Trip Advisor, Expedia, Southwest, Priceline and Booking.com
Website visitation: 12%, 7%, 8%, 6%, 3%
Branded Search: 1%, 2%, 4%, 1%, 0.1%
Facebook, Twitter, YouTube pages: less than 0.1% for all
Shopping on site: 2%, 6%, 4%, 5%, 3%
Purchase on site: 0%, 0.8%, 1%, 0.4%, 0.3%
But today’s environment isn’t as simple as understanding what sites consumers engage with, but also, on what devices they interact. For low-attention tasks, audiences prefer smartphones, but as task investment goes up, so does laptop/PC usage. Mobile not replacing desktop.
Mobile is consistently present throughout the day, other than dinner; TV and Tablet spike during Primetime
Email, SM and news/sports are key hotspots; high year over year all touchpoints grew year over year, led by IM and device gaming
Even consumers who are “decided” on brand choice conduct a significant amount of research for Financial Services
THE CHALLENGE: A major electronics manufacturer wanted to better understand the consumer journey of its tablet and convertible PC shoppers to ensure that its budget was aligned with actual shopper behavior. Wanted to understand:
How do our electronics shoppers use online channels during each stage of their research process?
Are our resources allocated among online touchpoints to align with shopper behavior?
How can we drive consideration and purchase among these two shopper segments?
About 1/3 of marketers not confident they understand consumer journey
Slide in AdReaction (net positives and net negatives for targeting, is there a follow-up of qual?)
Most important qualities in mobile ads (from AdReaction 2014)
MB’s unique approach to syndicated targeting – interest-based and brand-affinity-based (marry brand preference from BLI’s to actual behaviors – not modeled – and can be done at scale)
We’ve all been there…you shop for something online, let’s say a dress…
And then that brand/product follows you around on the internet. It turns out, consumers don’t like this type of targeting.
One of the key things about all types of advertising, digital in particular, mobile even more than that, is about targeting – making sure you’re targeting the right audience. What’s so interesting in this slide is what audiences want to be targeted on. Some of the easiest things to target audiences on are the lower ones on here – it’s easy to target an audience on their shopping history, on their online search history, on their web browsing history, but audiences don’t like that. If you look at the net positive or net negative at the bottom, you’ll see these are the things they are more often than not negative towards these types rather than positive. Audiences will say that type of stuff is creepy, they feel stalked, it’s perceived very negatively.
Instead, what audiences want to be targeted on is how they see themselves, what their interests are – the brands that they like.
Q: Advertisers can target the video ads you see in many different ways. How do you feel about video ad targeting based on…?
When done right, consumers ARE receptive to ads.
Q: How would you characterize your attitude towards each of the following formats of advertising?
Each time you see each of the following, how much do you typically pay attention? Base: access to device.
A: MEASUREMENT!
Selecting the RIGHT measurements is crucial. Data overload caused a decrease in marketers’ confidence in the ability to utilize the data at their fingertips – much of which occurs due to data overload and the challenge of focusing on the measurements that will impact your business.