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1315 revision sponsor acxiom

  1. 1. “ThAT WAS THEn. ThIS IS NOW”<br />How the New Consumer Decision Process Requires a New Capability Model <br />cary Zackman <br />Executive Director, Industry Business Leader<br />®<br />
  2. 2. TOPICS<br />Burying the Marketing Funnel : its all about the consumer <br />A capability model for driving customer engagement <br />Q&A<br />
  3. 3. <ul><li>Why the funnel?
  4. 4. What happened?
  5. 5. What’s next? </li></li></ul><li>CONSUMER PURCHASE DECISION PROCESS<br />
  6. 6. Car buying: 40 years ag0<br />Aware of Brands<br />Brands Under Consideration<br />Prefer<br />5<br />
  7. 7. The funnel view<br />Aware<br />Consider<br />Prefer<br />Purchase<br />6<br />
  8. 8. More consumers<br />7<br />
  9. 9. How the marketers see it<br />8<br />
  10. 10. PURCHASE FUNNEL WORKED<br />The difficulty in getting inputs was so significant that the brands had the ability to significantly alter their inclusion in various steps<br />FITS THE FUNNEL<br /><ul><li>Brand-centric, push model
  11. 11. Broad, general reach
  12. 12. Limited product choice
  13. 13. Barriers to information</li></ul>9<br />
  14. 14. The funnel:What happened<br />10<br />
  15. 15. Car buying: today<br />OUTCOME<br />PURCHASE<br />LEASE<br />WAIT<br />11<br />
  16. 16. WHAT’S CHANGED<br />THEN<br />NOW<br /><ul><li>Brand-Centric, push model
  17. 17. Consumer-Centric, pull model
  18. 18. Broad, general reach
  19. 19. Expanded, targeted reach
  20. 20. Limited product choices
  21. 21. Proliferation of product customization
  22. 22. Barriers to information
  23. 23. Interaction ends with purchase
  24. 24. Defined consumer decision timeline
  25. 25. Transparency of information
  26. 26. Post purchase feedback is key
  27. 27. Timelines will vary </li></ul>12<br />
  28. 28. THE FUNNEL: WHAT’S NEXT<br />13<br />
  29. 29. MCKINSEY<br />FORRESTER<br />: IT’S ALL ABOUT…<br />: IT’S ALL ABOUT…<br />…Engagement<br />…the consumer decision journey<br />…Aligning Marketing with the Consumer Decision Journey<br />1<br />2<br />3<br />4<br />Active evaluation<br />Information gathering, shopping<br />The consumer considers an initial set of brands, based on brand perceptions and exposure to recent touch points.<br />Consumers add or subtract brands as they evaluate what they want.<br />Ultimately, the consumer selects a brand at the moment of purchase.<br />After purchasing a product or service, the consumer builds expectations base on experience to inform the next decision journey.<br />Loyalty loop<br />Initial-<br />consideration <br />set<br />Moment of purchase<br />Trigger<br />Post purchase experience<br />Ongoing exposure<br />14<br />Image source: Steven Noble. Forrester.<br />“It's Time To Bury The Marketing Funnel.” <br />Image source:. MCKinsey. “The Consumer Decision Journey.” <br />
  30. 30. CAPABILITY MODEL FOR A CONNECTED WORLD<br />Key requirements. Separating contenders from pretenders<br />15<br />
  31. 31. SO WHAT’S NEXT<br />EXPERTS AGREE<br />ACTIONS TO TAKE<br /><ul><li>Focus on “Push”/mass media is behind us
  32. 32. Narrowcasting with relevant communications at all touch points
  33. 33. Our role has also changed – we need to identify, understand, engage
  34. 34. Role of consumer has shifted
  35. 35. Top-down models are less predictive
  36. 36. Leverage multi-dimensional insights to guide customer interactions
  37. 37. Customer engagement extends beyond purchase
  38. 38. Siloed organizational structures need to change
  39. 39. Expand and integrate valuable consumer data
  40. 40. New org structures factor in the consumer experience</li></ul>16<br />

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