You’re Spending Your Money In All the Wrong Places brand management
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The document discusses how traditional marketing funnels are outdated in the digital age. It presents research showing that today's consumers navigate a decision journey in four iterative stages: consider, evaluate, buy, and enjoy/advocate. This consumer decision journey implies two things for marketers - they should target different touchpoints at each stage, and reallocate budgets from one-way advertising to owned and earned media. The document provides an example of a company that piloted this approach by understanding consumers' online behaviors, prioritizing touchpoints, and shifting resources to customer experience programs.
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- 1. -You’re Spending Your Money In All the Wrong Places PRESENTED BY-Ayu Candra 0413114353016 Afifah Rahmania 041314353047
- 2. Latar Belakang The impact of branding in the digital age. How internet has been used as a tool to build relationship with brands. How INTERNET influences (positively or negatively) a brand. How traditional marketing strategies have continued to exhaust. Consumer Decision Journey.
- 3. Introduction TRADITIONAL AGE: Relation ends with sale. INTERNET AGE: Relation sustains, remains engage TOUCH POINTS: Spending more time
- 4. TRADITIONAL FUNNEL METAPHOR MODERN CONSUMER DECISION JOURNEY
- 5. THE RESEARCH REVEALED Today’s consumers take a much more iterative and less reductive journey of four stages: Consider Evaluate Buy Enjoy, Advocate and Bond
- 6. BLOCK THAT METAPHOR: David court 2009 carried on a study on how customer engage with brands- “The customer decision journey” (CDJ) Famous funnel metaphor to think about touch points- have used paid- media, push marketing.
- 7. JOURNEY IN PRACTICE There are two implication of this: Instead of focusing on how to allocate spending across media, marketers should target stages in the decision journey. ADVERTISEMENT ADVOCACY The second implication is that marketers’ budgets are constructed to meet the needs of a strategy that is outdated. ONE WAY COMMUNICATION HUGE COST INVOLVED Instead of paid media marketers should concentrate on- Owned media Earned media
- 8. EXAMPLE-
- 9. LAUNCHING A PILOT To shift to a CDJ-driven strategy has three parts: understanding your consumers’ decision journey Determining which touch points are priorities how to leverage them Allocating resources accordingly
- 10. To see how consumers navigate the decision journey the following were considered: WHAT THEY DO To answer this, multiple questions were framed like: How would they describe the stages of their journey, online and off? Which resources were most valuable to them, and which were disappointing? How did brands enter and leave their decision sets, and what drove their purchases in the end?
- 11. WHAT THEY SEE This consisted of questions like: How was its appearance in the search engines? How visible were they on retail sites? What do consumers review about the brand? WHAT THEY SAY The final focus was what people say online about the brand
- 12. TAKING ACTION - Shift from paid media - Marketing inserted links from its own site to retail sites - Developed programs that included online community initiatives, contests, and e-mail promotions
- 13. A CUSTOMER EXPERIENCE PLAN -The details of a customer experience plan will vary according to the company’s products, target segments, campaign strategy, and media mix NEW ROLES FOR MARKETING -Orchestrator - Publisher and “content supply chain” manager. - Marketplace intelligence leader. STARTING THE JOURNEY
- 14. HOW THE INTERNET IS USED A large number of the internet population use the internet for just searching randomly. The next large internet population is more involved in research Online videos and music Last but not the least- Social Networking.
- 15. Google conducted a research on the online and offline purchases:- Research online and purchase offline (66%) Research offline and purchase offline (13%) Research online and purchase online (20%) Research offline and purchase online (0%)
- 16. 50 MILLION MARK It took radio 38 years It tool Television 13 years It took Internet 7 years It took Mobile just 3 years